I&M Bank (Rwanda) Limited (IM.rw) Q32019 Interim Report

first_imgI&M Bank (Rwanda) Limited (IM.rw) listed on the Rwanda Stock Exchange under the Banking sector has released it’s 2019 interim results for the third quarter.For more information about I&M Bank (Rwanda) Limited (IM.rw) reports, abridged reports, interim earnings results and earnings presentations, visit the I&M Bank (Rwanda) Limited (IM.rw) company page on AfricanFinancials.Document: I&M Bank (Rwanda) Limited (IM.rw)  2019 interim results for the third quarter.<span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span>Company ProfileI&M Bank (Rwanda) Limited is a leading financial institution in Rwanda offering products and services for the retail, commercial and corporate banking segment. Personal banking products range from current accounts and short or fixed deposits to personal, vehicle, home and building loans. The corporate division offers financial solutions for sole proprietorships, partnerships and corporations which range from overdrafts, investments and equipment and vehicle loans to purchase and disposal of foreign currency and treasury services. This includes issuing letters of credit and guarantee, export and import trading, insurance premium financing, and e-banking services. I&M Bank (Rwanda) Limited is a subsidiary of I&M Bank Limited and is based in Kigali, Rwanda. I&M Bank (Rwanda) Limited is listed on the Rwanda Stock Exchangelast_img read more

I think these FTSE 100 utilities companies are market crash bargains

first_imgI think these FTSE 100 utilities companies are market crash bargains Jabran Khan has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Enter Your Email Address Economic uncertainty is an unfortunate byproduct of large-scale health scares and pandemics. Households are cutting back on expenses and luxuries. But one expense that won’t be affected is water and utility bills. So with the FTSE 100 market crash, there are some bargains to be had in this area, in my opinion.United UtilitiesUnited Utilities (LSE:UU) supplies water and sewerage services to the North West of England, a region with a population of around seven million. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…In the light of Covid-19, United Utilities released a trading update. It spoke of fixed revenues “under the regulatory revenue control for the next five years with shortfalls in any year being recoverable in later years.” For me this represents a safety net and a certain amount of insurance against unexpected economic uncertainty and other financial issues that may occur.To add to this, United Utilities confirmed good liquidity, describing it as having “a robust liquidity position extending out for 24 months.” Management expects this year’s revenue to be higher than last year’s, which sounds promising in the light of the current circumstances.I also believe at this point that it will not be cancelling any dividends, but we should know by the time full-year results are published at the end of May. The share price between mid February and mid March fell near 25%. At the time of writing, the share price has increased to near 900p per share. Add to this the close-to-5% dividend yield, and I see lots on offer to entice potential investors.  Severn TrentSevern Trent (LSE:SVT) provides water and sewerage services to over 7m customers in central England and parts of Wales. It has over 4,000 employees and is the world’s fourth-largest privately-owned water company.The end of January saw an announcement about a new dividend policy. Specifically, dividends will rise each year by at least the CPIH (Consumer Price Index) inflation level. It confirmed it expects to pay near 100p per share for its financial year ending March 31. That’s an attractive dividend proposition in my opinion. It must be noted however that this was pre-Covid 19 and pre-market crash. A trading update in March from Severn Trent attempted to allay fears of the impact of Covid-19. The message was all about “financial resilience” and a promise to closely monitor cash flows. Tellingly, there was no mention of changes to dividend expectations. I do not expect Severn Trent to change its dividend strategy as of now, but will closely watch to see what happens.Between mid-February and mid-March, its share price fell by 25%. Currently the share price is around 2,300p, down from the beginning of February when it was closer to 2,600p per share. A dividend yield of just over 4% is another enticing factor for this FTSE 100 stalwart.  “This Stock Could Be Like Buying Amazon in 1997” Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Our 6 ‘Best Buys Now’ Shares Image source: Getty Images center_img Simply click below to discover how you can take advantage of this. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Jabran Khan | Tuesday, 21st April, 2020 | More on: SVT UU Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Jabran Khanlast_img read more

Have £5k to spend? I think this stock’s a brilliant ISA buy for the global recession

first_img Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. “This Stock Could Be Like Buying Amazon in 1997” Simply click below to discover how you can take advantage of this. Enter Your Email Address Image source: Getty Images Our 6 ‘Best Buys Now’ Shares Royston Wild | Saturday, 30th May, 2020 | More on: BEG Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. If you haven’t already grabbed a slice of Begbies Traynor Group (LSE: BEG) then you should give it serious consideration. With the UK economy on the precipice of a shocking contraction this is one wise share to buy for your ISA.It gives me no pleasure to say this, but it’s clear that many businesses will go to the wall. It’s a scenario that promises to jump-start sales at insolvency practitioner Begbies Traynor.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…A fresh survey from Simply Business illustrates the awful outlook for small and medium enterprises (SMEs) due to the pandemic. Of the 3,700 firms the insurance specialist questioned, 41% of said that they fear their business faces permanent closure.The lion’s share of these companies (37%) believe that they may be forced to shut up shop within 12 months. Some 4% of small business owners have already closed their doors for good, too, Simply Business says. If representative of the whole of the UK this would translate to an eye-watering 234,400 closures. Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. See all posts by Royston Wild Have £5k to spend? I think this stock’s a brilliant ISA buy for the global recession Profits powerBegbies Traynor itself expects the number of firms experiencing severe financial distress to balloon. It said last week that “whilst the timing of a return to normal economic conditions remains unknown… we do anticipate progressive increases in the number of insolvencies”. It added that “we expect that our mix of service lines and counter-cyclical focus places the group in a strong position” as well.The AIM company is one of the country’s biggest insolvency specialists. This is what makes it such a brilliant ISA buy. A steady stream of acquisitions has seen it build scale and bolster the range of services it offers. It now operates out of more than 70 offices the length and breadth of the country.A mix of Begbies Traynor’s commitment to M&A and already challenging economic conditions helped adjusted profit before tax surge 31% in the last financial year (to April 2020). And, pleasingly, the company has plenty of financial firepower to continue on its earnings-bolstering expansion programme. Strong cash generation helped net debt more than halve year on year in fiscal 2020, better than it had been reckoning on.A top ISA buyIn this climate it’s not a shock that Begbies Traynor’s share price has rocketed. It initially got washed out during the broader stock market crash in late February, sure. But it surged more than 80% in value during the following five weeks to hit record closing peaks around 112p per share. Yet it’s still not eye-poppingly expensive on paper, the company sporting a forward price-to-earnings ratio of around 17 times.Some light profit-taking means that it has fallen slightly in value. But I fully expect it to resume its upward path sooner rather than later (and possibly as soon as when full-year results are published in mid-to-late July). I’d happily buy Begbies Traynor for my ISA and hold it for years to come.last_img read more

Who is Anthony Watson: Ten things you should know about the England wing

first_imgFind out more about the England star who is comfortable at full-back or wing Anthony Watson impressed for England in the 2021 Six Nations (Getty Images) Expand 3. Watson was part of the British & Irish Lions squad that toured New Zealand in 2017. He played in all three Test matches against the All Blacks and the series ended in a draw after each team won one match and then drew the third.4. He started all five games of England’s Six Nations Grand Slam in 2016 and was involved in the title wins in 2017 and 2020 too.He has also represented his country in two World Cup campaigns and was a part of Eddie Jones’s side that lost 32-12 to South Africa in the 2019 final.5. He became engaged to his long-term partner Alyse Miller in December 2019 and the couple have a son together called Kai, who was born in November 2020. 6. He had thought of switching to the NFL but decided to focus on rugby after an Achilles injury sustained in 2018 kept him out of the game for 13 months.Watson told The Mirror: “After what I’ve been through this past year, I realise I’ve got to maximise what I do in rugby.“There are so many things I can learn from other sports, including NFL, in terms of footwork and stuff like that. A lot of their skills are transferable.”MORE ON ANTHONY WATSON Can’t get to the shops? You can download the digital edition of Rugby World straight to your tablet or subscribe to the print edition to get the magazine delivered to your door.Follow Rugby World on Facebook, Instagram and Twitter. England wing Anthony Watson analysed The explosive England and Bath star talks us… 7. Watson has a few famous relatives. His two brothers, Marcus and Callum, play for Wasps and Richmond respectively, while he also has an uncle, Mark, who was a Concorde pilot.8. He won his 50th cap for England in the 23-20 victory against France in the 2021 Six Nations.He said post-match: “I don’t know how to respond to it because I try to take each game as it comes. Maybe I’ll start to reflect tonight, it might be at the end of this campaign but I think I’ll be happy with it once I get the time to do that.” England wing Anthony Watson analysed He can become a major attacking weapon for…center_img England rugby star Anthony Watson on Flicking the Switch There can be liberation in accepting that change… Collapse Who is Anthony Watson: Ten things you should know about the England wingAnthony Watson made his England debut in November 2014 at Twickenham against New Zealand and has gone on to make a half-century of appearances for his country.Here are more facts about the Bath star, who can play on the wing or at full-back…Ten things you should know about Anthony Watson1. Anthony Watson was born on 26 February 1994 in Ashford, England. He stands at 6ft 2in (1.88m) and weighs 14st 13lb (95kg).2. He joined Premiership club Bath in the summer of 2013 having previously played for London Irish. 9. England legend Jonny Wilkinson was a childhood hero of Watson’s. “He was never cocky, never arrogant, always under-the-radar humble,” Watson has said of the fly-half.10. Jason Robinson was another player Watson looked up to and the World Cup-winning winger gave him some advice at a dinner that has stuck with him.“He talked to me about backing my instincts,” Watson told The Times. “It was something that resonated with me because it’s something I might have lost my way with over the last 18 months, getting a bit bogged down with doing the right thing in the right areas as opposed to backing myself, knowing what I’m good at and sticking to it.“I’ve definitely listened to that piece of advice from Jason. Making your strengths even stronger. You sometimes forget about those pieces of advice. It’s good to go back and embed it.” Anthony Watson reveals his lockdown workout England rugby star Anthony Watson on Flicking the Switch Anthony Watson reveals his lockdown workout Expandlast_img read more

Black House in Vilnius / Laurynas Žakevičius architects

first_img Area:  275 m² Year Completion year of this architecture project Projects Year:  Save this picture!© Leonas GarbačauskasCurated by María Francisca González Share Lithuania ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/889951/black-house-in-vilnius-laurynas-zakevicius-architects Clipboard 2014 Photographs Black House in Vilnius / Laurynas Žakevičius architects “COPY” ArchDaily Houses CopyAbout this officeLaurynas Žakevičius architectsOfficeFollowProductsWoodStoneConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesVilniusLithuaniaPublished on March 03, 2018Cite: “Black House in Vilnius / Laurynas Žakevičius architects” 03 Mar 2018. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogPartitionsSkyfoldVertically Folding Operable Walls – Zenith® SeriesVinyl Walls3MExterior Vinyl Finish – DI-NOC™ StoneShowerhansgroheShowers – Croma SelectDoorsRaynorGarage Door – Advantage SeriesConcreteSika3D Concrete PrintingSignage / Display SystemsGoppionDisplay Case – Bre-ClassSkylightsVELUX CommercialModular Skylights in Atelier Zimmerlistrasse OfficeWindowsswissFineLineSliding Windows in Villa LakesideSuspension SystemsMetawellAluminum Panels for Smart CeilingsGlassDip-TechDigital Ceramic Printing in Roofs & CanopiesSound BoothsFrameryMeeting Pod – Framery Q – Flip n’ FoldWall / Ceiling LightsAsaf WeinbroomLighting – Linestra 110 BrassMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Photographs:  Leonas Garbačauskas Manufacturers Brands with products used in this architecture project Architects: Laurynas Žakevičius architects Area Area of this architecture project Manufacturers: Fritz Hansen, Ceramica Globo, Knauf, Acor, Volunta parket CopyHouses•Vilnius, Lithuania Lead Architects: Laurynas Žakevičius, Evelina Gumuliauskaitė Save this picture!© Leonas GarbačauskasRecommended ProductsDoorsGorter HatchesRoof Hatch – RHT AluminiumDoorsLinvisibileLinvisibile Curved Hinged Door | AlbaWindowsAir-LuxSliding Window – CurvedEnclosures / Double Skin FacadesFranken-SchotterFacade System –  LINEAText description provided by the architects. Accurate, precise, purified aesthetics. Natural stone tiling, wood sticks and concrete panels are used for facades. The house and the site slope are composed together as a continuous space. The site is divided into two different level areas – approach area and inner yard for relaxation. The main entrance and technical premises are one level lower than main living house area. The approach to the yard rises along the natural slope ramp under the house, directing visitors toward the rear of the site. Within the inner garden, the ground becomes continuous with the floor of the house living, dining and sleeping areas. You can come out on the grass straight from the room.Save this picture!© Leonas GarbačauskasSave this picture!Upper Floor PlanSave this picture!© Leonas GarbačauskasThe idea of the project was inspired by the site terrain keeping it as natural as possible. We divided the house into two functional areas: the entrance, garage and technical facilities on the northern side at the bottom of the slope, and all the living space – at the top of the slope, on the southern side, where the terrain is already flat. So this organically splits the plot as well to an auxiliary area in the north and recreational living area in the south. A narrow, high and grey staircase enters the living space of the house. The upper area is L shaped. One part is for the lively living area and a long monochromatic corridor leads to quite bedrooms.Save this picture!© Leonas GarbačauskasThe concrete cladding of front elevation was selected to blend with retaining concrete walls. The remaining part of the house is covered with black slated stone tiles and natural wood. Clear and minimal house style and dark natural colours of the building merges harmoniously with nature and surrounding. The austere interior is for a comfortable life. Well organized spaces are in clear geometric forms. Each detail is used to provide the required function. Living space is the highest -around 4meters high and is separated from the dining area with hanging cube above the table. Sitting at the dining table is like being in a different area. The secret and intrigue attract as through the deep sunroofs you can see the sky.Save this picture!© Leonas GarbačauskasThe forms of furniture and interior details are clean and clear, even the chair legs create some distinctive graphical drawing. All house is monochromatic grey with a natural oak wood floor and contrast details. Long L shaped corridor is underlined with a long luminaire, which is a protruding line of the wall. A softly illuminated wall can turn into the gallery of the house. The essence of the interior is freedom, unobstructed by any additional details. It creates a feeling of perfect lightness, relaxed atmosphere which is aimed in every home.Save this picture!© Leonas GarbačauskasSave this picture!SectionsSave this picture!© Leonas GarbačauskasProject gallerySee allShow lessMoshe Safdie’s Chongqing Project Sets World Record With Highest “Horizontal Skyscraper”Architecture News71sqm. Apartment Renovation / Xue Jin Architecture NetworkSelected Projects Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/889951/black-house-in-vilnius-laurynas-zakevicius-architects Clipboard Black House in Vilnius / Laurynas Žakevičius architectsSave this projectSaveBlack House in Vilnius / Laurynas Žakevičius architects “COPY”last_img read more

Banjul authorities close local branch of Senegalese radio station Sud FM

first_img Organisation GambiaAfrica January 27, 2020 Find out more Gambia still needs to address challenges to press freedom Voicing outrage at the closure of a branch of the Senegalese radio station Sud FM in the Gambian capital of Banjul by police on 22 October, Reporters Without Borders today called on the Gambian authorities to let it resume broadcasting immediately.“A dispute between the government and a privately-owned radio station in no way justifies such an arbitrary measure, which is unworthy of a regime that claims to be democratic,” the press freedom organisation said.“President Yayah Jammeh’s attitude toward independent news media continues to be a source of great concern to us, and we point out the December 2004 murder of Deyda Hydara, the editor of the independent newspaper The Point, is still unpunished,” Reporters Without Borders added.Five Gambian police officers raided Sud FM’s Banjul branch at 3 p.m. on 22 October and told staff to stop broadcasting. The police said they were acting on “instructions from above” and refused give any further reason for the closure. Station manager Pape Diomawe Thiare complied after telling listeners that the authorities had come to the studios and were forcing him to shut down.Information, communication and new technologies minister Nemeh Macdouall Gaye refused to say anything when contacted by the Gambia Press Union (GPU) but she told the BBC that “Sud FM Banjul bombarded listeners with comments likely to stir up trouble” after President Jammeh’s visit to Senegal the previous day. She did not however specify what comments she was referring to.The day before the station’s closure, Jammeh and Senegalese President Abdoulaye Wade reached agreement on a squabble that had been poisoning relations between the two countries since 15 August, when Banjul raised fares for the River Gambia ferry crossing, prompting Senegalese truck drivers to block the border in protest. This had a disastrous economic impact on Gambia, a small enclave in the middle of Senegal, driving up prices and causing shortages.A Gambian journalist attributed Sud FM Banjul’s closure to the fact that earlier on 22 October it had carried a press review prepared by its Dakar headquarters referring to the new accord and mentioning that certain commentators had described President Jammeh’s stance as “versatile.” This press review has a reputation for free-wheeling criticism and has often been criticised by both Gambian and Senegalese officials in the past.Babacar Touré, the head of the Sud Communication group which owns Sud FM, said his group was considering pulling out of Gambia “if it is confirmed that they (the Gambian authorities) do not want us any more, if there is hostility towards the men and women who work for us in Gambia, and if the Gambian authorities want to blame us for the tension between Gambia and Senegal.” Touré was due to travel to Banjul today.Sud FM was previously censored when the Senegalese authorities banned it from broadcasting throughout Senegal on 17 October after it carried an interview with the one of the leaders of a rebel movement in the southern Casamance region. The ban was lifted later the same day, but while it lasted, Sud FM Banjul was the only branch to continue broadcasting.Sud-FM is a privately-owned Senegalese radio network that broadcasts in French, English and Wolof. After being banned from broadcasting in Senegal on 17 October, the privately-owned Senegalese radio station Sud FM was closed down in the Gambian capital on 22 October. Reporters Without Borders calls on the Gambian authorities to let it resume broadcasting at once. Gambia is one of the African regimes that are most hostile towards press freedom. GambiaAfrica Gambia: former president must stand trial for journalist’s murder News Follow the news on Gambia October 24, 2005 – Updated on January 20, 2016 Banjul authorities close local branch of Senegalese radio station Sud FM News News News RSF_en Receive email alerts Three journalist arrested, two radio stations closed in Gambia Help by sharing this information July 23, 2019 Find out more to go further August 6, 2020 Find out morelast_img read more

Odessa city council to discuss $8.3 million animal shelter

first_img WhatsApp Pinterest Facebook Twitter Odessa city council to discuss $8.3 million animal shelter The Odessa Animal Control Shelter is seen pictured on Wednesday afternoon in Odessa. Odessa Animal Control will be holding a vaccination clinic for distemper and parvo on Tuesday, May 4 from 10 a.m. to 7 p.m. in the east parking lot of the shelter which is located at 10 W. 42nd Street. (Eli Hartman | Odessa American) The Odessa City Council will discuss whether to award an $8,308,472 contract to Onyx Contractors to oversee construction of a new city animal shelter during council’s virtual Tuesday work session.If council approves the project, construction could begin later this year and be completed within one year, Police Chief Michael Gerke said. The current facility is too small and is not equipped to provide the care needed.“The current facility was built as a pound over 30 years ago,” said Gerke, whose department oversees shelter operations. “It was built to house dogs and cats for two or three days and then they were euthanized.“But things have changed. We’re asking for a facility that’s more conducive to adopting.”The proposed new 20,538-square-foot facility, which will be constructed just east of the current shelter, would be paid for with funds from certificate of obligation bonds that the council approved in 2019, according to city documents. The $10 million earmarked for the new animal shelter was part of an overall $93 million bond that is being used for other projects also.Councilwoman Detra White recently said the new shelter is long overdue and very much needed. White was one of six council members who voted in favor of using certificate of obligation bonds dollars to pay for the project two years ago.The current outdated facility has many problems, besides its small size, White said. The facility is plagued with ongoing plumbing problems and lacks an adequate cooling system, which makes the shelter very hot and humid most of the year.“I know we’re talking about a lot of money,” White said. “But we’re not talking about building a Taj Mahal for dogs and cats.“We’re talking about building a new shelter that has more room, that’s animal and people friendly, and promotes adoption.”Because of the current shelter’s limited space, many dogs and cats that arrive have to be euthanized immediately because there isn’t space to keep them separated from the rest of the animals, White said.The new facility would have a room where veterinarians can perform surgeries, including spaying and neutering, Gerke said.Gerke on Tuesday will also review with council city crime statistics for 2020-21. Twitter WhatsApp By Federico Martinez – May 17, 2021 Pinterest Facebook Local News Previous articleWilson & Young redesign powers aheadNext articleArt to be added to Bookworms program Federico Martinezlast_img read more

A Vote of Confidence for Bank of America

first_img Share Save The Best Markets For Residential Property Investors 2 days ago Previous: CFPB Clears the Way for Class-Action Lawsuits Next: CFPB Names Advisory Board Members in Daily Dose, Featured, Headlines, News Related Articles Bank of America will be getting a new investor soon, according to a press release—and that investor’s name is Warren Buffet, Chairman and CEO of Berkshire Hathaway.The company, who’s 2011, $5 billion deal on preferred stock with Bank of America, also included warrants to purchase 700 million shares of common stock. Buffet shared in a letter to his stockholders that he intends on capitalizing on these warrants.Bank of America’s stock currently trades at $24.88, as of July 10, 2017; however, Berkshire Hathaway’s warrants allow the company to purchase Bank of America stock at $7.14 per share. With Bank of America recently increasing their dividends to $0.12 per share in response to The Fed’s stress test results last month, 700 million shares amounts to nearly $336 million in dividend payouts over the course of the year.This isn’t the first time Berkshire Hathaway has invested in a bank. They’ve held American Express since the 60s, and also have positions in Well Fargo, U.S. Bancorp, and Bank of New York Mellon.The bank stands to benefit from the long-term investment that Buffet is known for, particularly from the vote of confidence that such an investment holds in the market. Bank of America’s stock has been struggling since the housing bubble burst, when it had peaked at around $55 a share. By 2009, the stock was as low as $5 per share. Since that time, Bank of America has been struggling with legal expenses, elevated operating costs as a result of industry mandated regulations, and loan charge-offs. It is estimated that the bank has incurred expenses of close to $200 billion. Since the 2009, the bank’s stock has slowly been climbing back, but still remains 46.6 percent lower than its highest point.aBerkshire Hathaway’s investment in Bank of America will make the conglomerate the bank’s largest shareholder. About Author: Joey Pizzolato Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Bank of American Investment Warren Buffet A Vote of Confidence for Bank of America Home / Daily Dose / A Vote of Confidence for Bank of America Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Bank of American Investment Warren Buffet 2017-07-10 Joey Pizzolato Sign up for DS News Daily center_img July 10, 2017 1,313 Views Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

BREAKING: Kerala High Court Dismisses Ex-Minister KT Jaleel’s Challenge Against Lok Ayukta Report

first_imgNews UpdatesBREAKING: Kerala High Court Dismisses Ex-Minister KT Jaleel’s Challenge Against Lok Ayukta Report Lydia Suzanne Thomas20 April 2021 1:28 AMShare This – xThe Kerala High Court on Tuesday dismissed the writ petition filed by former Minister for Higher Education and Minority Welfare KT Jaleel, challenging a report of the Kerala Lok Ayukta which had found him guilty of nepotism and favouritism.A division bench comprising Justices PB Suresh Kumar and K Babu affirmed the Lok Ayukta report, stating that Jaleel had not made out any ground…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Kerala High Court on Tuesday dismissed the writ petition filed by former Minister for Higher Education and Minority Welfare KT Jaleel, challenging a report of the Kerala Lok Ayukta which had found him guilty of nepotism and favouritism.A division bench comprising Justices PB Suresh Kumar and K Babu affirmed the Lok Ayukta report, stating that Jaleel had not made out any ground for interference in the final opinion formulated by the Lok Ayukta in this proceedings under Article 226 of the Constitution.Finding that the Lok Ayukta had acted within the scope of its powers when it arrived at its conclusion, the Court emphasized that only errors of fact which had a direct nexus with the decision-making process could be interfered with, rather than an error that affected the merit.”..this being a proceedings for judicial review, the court could examine an error of fact touching the merit of decision only if it has a direct nexus to the decision making process. Be that as it may, the formation of an opinion on the facts is a subjective matter and if an opinion is formed based on the relevant materials, so long as the authority was acting within the scope of its powers, however meagre the materials be, the courts should not and will not interfere with the opinion formed in exercise of judicial review,” the Division Bench held.The Lok Ayukta had declared that Jaleel was unfit to continue as a Minister for violation of his oath of office. The matter related to the appointment of Jaleel’s cousin KT Adeeb as General Manager in the Kerala State Minorities Development Finance Corporation Limited.The Lok Ayukta found that Jaleel took a decision as a Minister to change the qualifications for the post to add “B.Tech with PGDBA” to make his relative eligible. This decision was without any proposal or suggestion from the Corporation. But for this change of qualification, Adeeb would not have been eligible to apply for the post. The Lok Ayukta held that it amounted to an abuse of the Minister’s position. The Authority also made a declaration under Section 12(3) of the Kerala Lok Ayukta Act that Jaleel should not continue as a Member of the Council of Ministers. Such a declaration has to be accepted by the Chief Minister under Section 14 of the Act. On acceptance by the Chief Minister, the Minister has to resign from the office as per Section 14(2)(i) of the Act.”The action of the 2nd respondent(Jaleel) was actuated in discharge of his function as a Minster by personal interest to favour his own second cousin. It amounted to favouritism and nepotism and lack of integrity in his capacity as a Minister, the Lok Ayukta’s Report had held.The conduct of the 2nd respondent also violated the oath of office he had taken as a Minister to discharge his duties as a Minister “without fear or favour, affection or ill-will””, the order passed by a bench of Justices Cyriac Joseph(former Supreme Court judge) and Harun-Ul-Rashid (former High Court judge) held.Jaleel’s appeal primarily challenged Paragraph 54 of the said Report, wherein the Lok Ayukta comprising Justices Cyriac Joseph (former Supreme Court judge) and Harun-Ul-Rashid (former High Court judge) concluded that that Jaleel should not continue as a Member of the Council of Ministers on account of the charges against him. Charging the final report as one having been made without following any procedure mandated under law to arrive at a finding, Jaleel’s plea asserted that the same is violative of natural justice as well as the statutory provisions of the Kerala Lok Ayukta Act, and therefore one liable to be interfered with by the Court.On this count, the Court observed that the petitioner had not rebutted the facts that were recorded by the Lok Ayukta in the report, and that these formed the basis for the finding against him. Apart from this, the petitioner was given opportunities to rebut and present his submissions before the complaint was admitted, the Court found.”Similarly, the fact that the Lok Ayukta has afforded the petitioner an opportunity to offer his comments on the complaint is also not disputed by the petitioner. Insofar as the requirements in sub-section (3) of Section 9 of the Act have been complied with by the Lok Ayukta even before the admission of the complaint and in the absence of any prejudice caused to the petitioner for not repeating the same process after the complaint is admitted, according to us, the omission on the part of the Lok Ayukta in not complying with the provisions contained in sub-section(3) of Section of the Act after the admission of the complaint is not a ground to impugn the report in this proceedings, for every error committed in the decision making process will not have the effect of vitiating the decision and for the decision to be vitiated, it shall be demonstrated that the error in the making of the decision has affected the decision. In the case on hand, the petitioner has no case that the decision of the Lok Ayukta is affected in any manner on account of the omission on the part of the Lok Ayukta in forwarding a copy of the complaint to the petitioner and affording him an opportunity to offer his comments on the complaint again after the admission of the complaint. The contention aforesaid is also therefore rejected.”Another objection made in the writ petition, namely, that the affidavit filed by the respondent Muhammad Shafi was defective, was also not entertained by the Court. The Bench pointed out that this objection was not made while the complaint was first made to the Lok Ayukta or in subsequent proceedings. “The petitioner has no case that any prejudice has been caused to him in the proceedings for want of a proper affidavit”, the Court additionally stated.Additionally, the plea argued that the subject matter of the proceedings, specifically, the prescription of qualification and appointment to the State Minority Development Finance Corporation, is excluded from the purview of the investigation under the Lok Ayukta Act.While the Court agreed that the subject was excluded from within the purview of the Lok Ayukta’s scope of inquiry, it was only grievances relating to the appointment that were excluded, not allegations.The Court referred the definition of grievance in Section 2(h) of the Kerala Lok Ayukta Act as ‘any claim by a person that he sustained injustice or undue hardship in consequence of maladministration’ .Relying on Ramachandran Nair M.K. (Dr.) and Others v. State of Kerala and Others, the Court stated,”the first respondent has neither any claim to the post of General Manager of the Corporation nor a case that he sustained injustice or undue hardship due to the maladministration. He does not also seek redressal of any grievance in the proceedings before the Lok Ayukta. Instead, in the complaint, he only made an allegation against the public servant in terms of the Act in general in public interest. Such a complaint cannot be regarded as one involving grievance in respect of any action relating to any matter specified in the Second Schedule. In other words, the bar under Section 8(1) of the Act does not apply to such a case”.On the need for the Lok Ayukta legislation in the State, the Court remarked,”In spite of a vigilant media, it is a fact that abuse of public resources and position in public life for private gain are rampant in our State. Abuse of public resources or position in public life for private gain would certainly amount to corruption. The scope of corruption would increase when control on the public administrators is weak. The Act is one introduced to make provisions for the appointment and functions of certain authorities for making enquiries into any action relatable to matters specified in List II or List III of the Seventh Schedule to the Constitution taken by or on behalf of the Government of Kerala or certain public authorities in the State of Kerala in certain cases and for matters connected therewith or ancillary thereto.” Last week, while the hearing was in progress, Jaleel tendered his resignation as State Minister to the Kerala Governor. When the Court asked Jaleel’s counsel whether the Minister was still in office, to which the Counsel responded that the minister had already resigned. Refusing a stay on the operation of the Lok Ayukta Report, the Court proceeded to reserve the case for judgment.Click here to download the judgmentNext Storylast_img read more

Correctional officer suicides in 2019 tied for most in single year: Union president

first_imgiStock(NEW YORK) — Deaths by suicide among correctional officers so far in 2019 have tied the highest total ever recorded, according to the head of their union.Year to date, 13 cases have been documented.“We’re on course for an all-time record of suicide of staff,” Shane Fausey, the new CPL-33 Correctional Officers Union president, told ABC News Chief Justice Correspondent Pierre Thomas.Bureau of Prisons union officials for years have been calling for an increase in staffing to match skyrocketing incarceration rates.Fausey said insufficient staffing and other job-related stressors could be contributing to the suicides, but the Bureau of Prisons doesn’t have hard data on that.“Unfortunately, the staffing crisis has lead into other issues for employees of the Bureau of Prisons,” Fausey said. “There’s a human factor to this staffing crisis.”According to a University of California, Berkeley Study in 2018, correctional officers are at a high risk for depression, PTSD and suicide.The study, which focuses on California state prisons, and a survey conducted in 2017 showed that 10% of correctional officers said they’d considered taking their own life. Among adults in the U.S., about 3% reported having suicidal thoughts, while retired correctional officers, according to the study, reported a rate of 31%.About 1 in 3 are dealing with PTSD, according to the study, with about half of the correctional officers surveyed reporting that they don’t feel safe at work. Depression also affects about one-third of the officers.Fausey said the Bureau of Prisons has no plan in place to track the deaths by suicide of correctional officers.The Bureau of Prisons told ABC News the agency has an employee assistance program for staff and their immediate families. The bureau also said each facility around the country conducts training specific to preventing suicides, and if a location suffers one, more resources and support can be committed to that facility.Suicides among those working in law enforcement have been dramatically increasing, with BLUE H.E.L.P., a group that tracks that data, reporting 2019 is on pace to be the deadliest year ever recorded.New York City alone has lost 10 police officers in 2019.“It’s tragic that law enforcement suicides are on the rise, and it’s important that officers know they aren’t alone and there are resources available,” said Don Mihalek, an ABC News contributor and former Secret Service Agent.Copyright © 2019, ABC Radio. All rights reserved.last_img read more