The Deliveroo share price delivers a 30% fall. What went wrong?

first_img Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares Bad news for Deliveroo (LSE: ROO) shareholders. The food-delivery company’s shares floated in London today, but the Deliveroo share price collapsed. That’s upsetting for individual investors who paid 390p a share.The Deliveroo share price crashes 30%In 2020/21, IPOs (initial public offerings) in the UK and US have generally delivered bumper first-day returns. Typically, these opening ‘pops’ ranged from 20% to 100%+. However, the Deliveroo share price immediately crashed, plunging from 390p to 271p. That’s a collapse of 119p, more than three-tenths (30.5%). The shares have since bounced back and currently stand at 297.5p. That’s still a fall of 92.5p — almost a quarter (23.7%). Yikes.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…Early warning signsIn January, Deliveroo raised $180m from existing investors at a valuation exceeding $7bn (£5.1bn). A month ago, it hoped to be valued at $10bn (£7.3bn). A week ago, the Deliveroo share price range was set at £3.90 to £4.60. This valued the group at £7.6bn to £8.8bn, making this the largest London IPO for a decade.However, several influential institutional investors declined to participate in this IPO. They included Aviva, Legal & General, and Aberdeen Standard. They expressed concern over Deliveroo’s employment practices. They also disliked dual-class shares that hand extra votes to co-founder Will Shu for a further three years. Hence, they declined to invest in the eight-year-old business. Thus, the initial Deliveroo share price was reduced to the very bottom of its range (390p).Is it worth £5.8bn today?With the Deliveroo share price at 297.5p, the group is worth £5.8bn. That’s a hefty price for a loss-making business. Deliveroo argues it is a tech business due a premium rating, like US tech stocks. As a veteran value investor, I disagree. I wouldn’t class Deliveroo as a tech company. When I look at its asset-light business model, I see an intermediary or distributor in an ultra-competitive market. It may have a snazzy app and website, but the hard work is done by roughly 100,000 ‘independent contractors’ (self-employed delivery agents, mostly young cyclists).If Deliveroo had to pay the minimum wage to those delivery drivers as employees, I struggle to see how it would overcome the terrible unit economics of home delivery. Hence, I would not invest today, even at the lowest Deliveroo share price of 271p.This is a growth company for growth investorsThen again, I see how Deliveroo might appeal to growth investors. It’s clearly an innovative, adaptable and high-growth business. In the first two months of 2021, transactions more than doubled by value (UK: +130%) year-on-year. But Deliveroo lost £317.7m in 2019 and £224m in 2020. For much of 2020/21, the world has been locked down and restaurants mostly closed. Yet Deliveroo lost almost £19m a month during absolutely perfect business conditions. Also, it expects sales growth and margins to fall in 2021, as pandemic lockdowns end and eating-out resumes. That cannot be good news for Deliveroo’s hyper-growth.In my view, the real winners from this deal are Deliveroo (raising £1bn in net proceeds) and existing shareholders (including Will Shu and Amazon), selling £500m of shares. Finally, whatever happens to the Deliveroo share price in the next few days, 70,000 retail investors are locked in for a week (until Wednesday, 7 April). I sincerely hope the price doesn’t fall any more before then. If I’d been a shareholder, I’d rename it Deliveroops or Deliverouch today! 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 Cliff D’Arcy Cliff D’Arcy | Wednesday, 31st March, 2021 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. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Cliffdarcy has no position in any of the shares mentioned. The Motley Fool UK owns shares of and has recommended Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. 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.center_img Image source: Getty Images Enter Your Email Address Simply click below to discover how you can take advantage of this. “This Stock Could Be Like Buying Amazon in 1997” The Deliveroo share price delivers a 30% fall. What went wrong? 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.last_img read more

Future role of Canadian church in Cuba unclear, says Archbishop…

first_img Assistant/Associate Rector Washington, DC Bishop Diocesan Springfield, IL Tags In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 Associate Rector for Family Ministries Anchorage, AK Rector Collierville, TN Comments (1) Rector/Priest in Charge (PT) Lisbon, ME Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET Assistant/Associate Rector Morristown, NJ Members of the Episcopal Church of Cuba synod and guests gather outside the Holy Trinity Episcopal Cathedral in Havana.Photo: Andrea Mann/Anglican Journal[Anglican Journal] A year after the Episcopal Church of Cuba voted unanimously to return to The [American] Episcopal Church (TEC) following the normalization of relations between Cuba and the United States, it is still unclear how this will affect the relationship between the Cuban and Canadian Anglican churches, said Archbishop Fred Hiltz, primate of the Anglican Church of Canada.“[The Episcopal Church of Cuba] has this long history with The Episcopal Church, and [there is a] deep desire to return, but there’s a bit of hesitation, and I think some anxiety about . . . what does this mean for [their] historic relationship with the Anglican Church of Canada?” Hiltz said in an interview following the Cuban church’s annual synod. Hiltz attended the synod as chair of the Metropolitan Council of Cuba (MCC), the body that has overseen the Cuban church since 1967, when it was cut off from TEC following the political standoff between Cuba and the U.S. that began in 1962. The Cuban church was established as a missionary diocese of The Episcopal Church in 1901.Over the past 48 years, the Canadian church has played an important role in bridging the gap between Cuban and American Episcopalians. It has also provided the Cuban church with financial support by topping up clergy stipends, contributing to the bishop’s discretionary fund and paying for two Anglican faculty positions at the ecumenical seminary in Matanzas.But Hiltz says that with relations normalizing, change is “a given.” And although it is not yet clear what change will look like, he said TEC might take up some of the responsibility for supporting Cuba financially.“If [the Episcopal Church of Cuba] becomes part of TEC, then a lot of the things for which they’ve been able to turn to Canada for in terms of financial support and so on, really would become the responsibility of TEC,” he noted.However, Andrea Mann, the Canadian church’s director for global relations, stressed that the ball is currently in TEC’s court. The Cuban church has been unequivocal in its desire to re-join the American church, but The Episcopal Church has stated that it will not be able to respond to the request until its General Convention in 2018.“A commission was going to be formed to study the Episcopal Church in Cuba’s resolution . . . to become part of TEC again,” she explained. “The commission has not officially reported back [to Cuba] on its work to date since General Convention [2015], so there was no report at the recent synod in Cuba from the commission studying their request.”Furthermore, while TEC Presiding Bishop Michel Curry is a member of the MCC, Hiltz said that neither he nor anyone else from TEC was present at the recent synod – although he will be present at the next MCC meeting in June.Mann said she thinks the June meeting will clarify some of the uncertainty.“I think the June meeting is going to be a place where the key people are going to meet. Michael Curry is going to visit Cuba for the first time, [and] he’s going to get a sense of what the process is moving forward,” she said.In the meantime, the Canadian and Cuban churches continue to work together, most notably in co-sponsoring an international justice camp, along with the diocese of Niagara (Cuba’s Canadian partner diocese) and the Canadian church’s development agency, The Primate’s World Relief and Development Fund.The camp, which will take place from 30 April to 7 May, will bring 25 Anglicans from across the Canadian church to the Cuban city of Matanzas, where they will join 25 Cuban Anglicans in discussing how to engage issues of food security, citizenship, and social engagement and economic justice in their respective contexts.“I hope that this camp gives Canadian and Cuban Anglicans an opportunity to meet together and talk formally and informally so that both groups return to their local contexts with renewed enthusiasm, and some really interesting ideas to try,” Mann said. “I hope that everyone who participates experiences a meaningful and informative intercultural experience, so that the Canadians who participate come away . . . with a different sense of who Cubans are, the social and economic and political realities in Cuba.” Rector Smithfield, NC Rector Bath, NC Director of Administration & Finance Atlanta, GA The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Priest Associate or Director of Adult Ministries Greenville, SC TryTank Experimental Lab and York St. John University of England Launch Survey to Study the Impact of Covid-19 on the Episcopal Church TryTank Experimental Lab Press Release Service Featured Events Director of Music Morristown, NJ Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem Rector Hopkinsville, KY The Church Investment Group Commends the Taskforce on the Theology of Money on its report, The Theology of Money and Investing as Doing Theology Church Investment Group Rector Pittsburgh, PA Rector Knoxville, TN Comments are closed. Priest-in-Charge Lebanon, OH Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest Associate Rector Columbus, GA Curate Diocese of Nebraska New Berrigan Book With Episcopal Roots Cascade Books Course Director Jerusalem, Israel Rector and Chaplain Eugene, OR AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Anglican Communion Submit a Job Listing Cathedral Dean Boise, ID Family Ministry Coordinator Baton Rouge, LA Rector Tampa, FL Youth Minister Lorton, VA By André ForgetPosted Mar 9, 2016 Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT Episcopal Charities of the Diocese of New York Hires Reverend Kevin W. VanHook, II as Executive Director Episcopal Charities of the Diocese of New York Associate Priest for Pastoral Care New York, NY Future role of Canadian church in Cuba unclear, says Archbishop of Canada Featured Jobs & Calls Vicki Gray says: Submit a Press Release March 10, 2016 at 6:05 pm The Canadian Anglican Church and Archbishop Hiltz have done crucial, commendable work which I hope will continue to one degree or another. I hope also that TEC will indeed take up some of the responsibility for supporting Cuba financially.and, equally importantly, fostering people-to-people ties such as the upcoming Canadian-Cuban camp in Matanzas and supporting the Ecumenical Theological Seminary (SET) there with physical and personnel resources. Presiding Bishop Curry’s visit is much to be welcomed in this regard. Curate (Associate & Priest-in-Charge) Traverse City, MI This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 Missioner for Disaster Resilience Sacramento, CA Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 Assistant/Associate Priest Scottsdale, AZ Submit an Event Listing Rector Washington, DC Rector (FT or PT) Indian River, MI An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Rector Albany, NY Canon for Family Ministry Jackson, MS Rector Shreveport, LA Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET Rector Martinsville, VA Rector Belleville, IL Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET last_img read more

Photojournalist slain in Mexico City after fleeing threats in Veracruz

first_img 2011-2020: A study of journalist murders in Latin America confirms the importance of strengthening protection policies Reporters Without Borders (RSF) is appalled to learn that photojournalist Rubén Espinosa Becerril has been found murdered in Mexico City, to which he fled in early June after receiving death threats in the southeastern state of Veracruz.Espinosa, who worked for AVC (a news outlet based in Veracruz), the national investigative magazine Proceso and the photo agency Cuarto Oscuro, was reported missing on 31 July, relatives said.The police found his body along with the bodies of four women in an apartment in the Mexico City neighbourhood of Narvarte yesterday. He had been tortured and then shot dead.“We are deeply shocked and outraged by Rubén Espinosa’s murder, which is unfortunately typical of the escalating violence in Mexico,” said Emmanuel Colombié, the head of RSF’s Americas desk.“Because of the threats he had been getting in Veracruz, Espinosa travelled to Mexico City at his own expense hoping to find a safe refuge there. He is the eighth journalist to be murdered in Mexico since the start of the year. The authorities must react to the growing death toll by giving journalists better protection and by giving the justice system more resources in order to end the impunity for crimes of violence against media personnel.”Espinosa was the Veracruz governor’s official photographer in 2009, but he resigned because his criticism of the violence against journalists in Veracruz was incompatible with a state job.He publicly accused Veracruz governor Javier Duarte de Ochoa of direct responsibility for the media freedom violations in Veracruz and for the threats against him personally. According to RSF’s tally, Veracruz is the one of the deadliest Mexican states for journalists.A total of 88 journalists have been murdered in Mexico since 2000, according to RSF’s figures. The latest victim prior to Espinosa was Edgar Hernández García, the editor of the magazine Foro Político, who was gunned down in the southern state of Oaxaca on 9 July.When Mexican President Enrique Peña Nieto visited Paris for this year’s 14 July parade, RSF urged him to give a firm undertaking to guarantee the safety of journalists in Mexico and to reinforce freedom of information.RSF urges the Mexican authorities to do everything possible to shed light on Espinosa’s murder by conducting a thorough, impartial and independent investigation aimed at identifying both the perpetrators and instigators.Mexico is ranked 148th out of 180 countries in the 2015 Reporters Without Borders press freedom index. RSF_en Reporter murdered in northwestern Mexico’s Sonora state Follow the news on Mexico Help by sharing this information NSO Group hasn’t kept its promises on human rights, RSF and other NGOs say News MexicoAmericas August 3, 2015 – Updated on January 20, 2016 Photojournalist slain in Mexico City after fleeing threats in Veracruz to go furthercenter_img Organisation Reports May 13, 2021 Find out more April 28, 2021 Find out more May 5, 2021 Find out more MexicoAmericas News News Receive email alertslast_img read more

Al-Jazeera cameraman, Sami Al-Haj, released from Guantanamo after six years

first_imgNews to go further Follow the news on United States Facebook’s Oversight Board is just a stopgap, regulation urgently needed, RSF says NSO Group hasn’t kept its promises on human rights, RSF and other NGOs say RSF_en Two of the nine Sudanese prisoners in Guantanamo were freed in December 2007. A note issued to the Sudanese government by the U.S. administration, reportedly said that, in exchange for his freedom, Sami Al-Haj will be banned for resuming his work as a journalist and leaving Sudanese territory. The U.S. Army accused him of secretly interviewing Osama Bin Laden, gun-smuggling for al-Qaeda, and running an Islamist website. No evidence has ever been produced to back up these allegations, and no charges have ever been brought against the journalist. Reporters Without Borders expressed huge relief today at the release of Al-Jazeera cameraman Sami Al-Haj, who had been held at Guantanamo Bay since June 2002. The Sudanese reporter has arrived in Khartoum on May 2. May 1, 2008 – Updated on January 20, 2016 Al-Jazeera cameraman, Sami Al-Haj, released from Guantanamo after six years June 7, 2021 Find out more News Organisation June 3, 2021 Find out more WhatsApp blocks accounts of at least seven Gaza Strip journalists News Help by sharing this information News Receive email alerts “Our first thoughts are for Sami Al-Haj’s family, whom we met in Khartoum, Sudan, and who have been waiting for him to return for more than six years,” the worldwide press freedom organization said. “We thank everyone who has campaigned for his freedom, particularly within the European institutions,” said Robert Ménard, Secretary General of Reporters Without Borders. United StatesAmericas Regularly tortured and subjected to close to 200 interrogation sessions by his jailers, Sami Al-Haj began a hunger strike on January 7, 2007, in protest against his detention and to demand that his rights be respected. In retaliation, his jailers force-fed him on several occasions. His lawyer, Clive Stafford-Smith, who visited him in July last year, said he had lost about 40 pounds and was suffering from serious intestinal problems. He was also subject to bouts of paranoia and was finding it increasingly difficult to communicate normally. United StatesAmericas “Sami Al-Haj should never have been held so long. U.S. authorities never proved that he had been involved in any kind of criminal activity. This case is yet another example of the injustice reigning in Guantanamo. The base should be closed as quickly as possible,” Reporters Without Borders added. Reporters Without Borders expressed huge relief today at the release on May 1st of Al-Jazeera cameraman Sami Al-Haj, who had been held at Guantanamo Bay since June 2002.“Sami Al-Haj should never have been held so long. U.S. authorities never proved that he had been involved in any kind of criminal activity. This case is yet another example of the injustice reigning in Guantanamo. The base should be closed as quickly as possible,” Reporters Without Borders stated. Pakistani security forces arrested him at the Afghan-Pakistan border in December 2001. He was handed over to the US Army one month later and transferred to Guantanamo on June 13, 2002. A Reporters Without Borders’ delegation went to the Guantanamo camp early in 2008. Members of the organization were not permitted to see Sami Al-Haj, but they were able to discuss his case with the Commander of the Joint Task Force, Rear Admiral, Mark H. Buzby. Reporters Without Borders, with the support of Al-Jazeera, campaigned for the cameraman’s release, and met with his family in Sudan in the spring of 2007. The organization also launched a large number of protests, in Paris and elsewhere, with the cooperation of the Qatari-based satellite channel and the journalist’s support committee. April 28, 2021 Find out morelast_img read more

Limerick Hoteliers call for urgent Government measures to support tourism

first_imgLimerick Ladies National Football League opener to be streamed live Email RELATED ARTICLESMORE FROM AUTHOR TAGSKeeping Limerick PostedlimerickLimerick Post BusinessLimerickNewsLimerick Hoteliers call for urgent Government measures to support tourismBy Staff Reporter – October 6, 2020 157 Limerick’s National Camogie League double header to be streamed live WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads WhatsApp THE latest industry survey* from the Irish Hotels Federation (IHF) reveals a collapse in hotel bookings on foot additional Government restrictions due to Covid-19.Hotel room occupancy rates across the Mid-West are at 21% for October and 11% for November based on business currently booked.Sign up for the weekly Limerick Post newsletter Sign Up Since the Government’s revised 5-level plans for restrictions were announced last month, weekly rates of new bookings for hotels have plummeted across the country, with cancellations effectively offsetting any new business over the last week.This represents an enormous blow to Irish tourism at a time when the sector is struggling under immense financial difficulties.Meanwhile recent results from the Central Statistics Office (CSO) show an 84% drop in overseas visitors to Ireland for the month of August year on year, demonstrating the severe challenges facing Irish tourism which would normally rely on overseas visitors for 70 percent of revenues.Dermot Kelly, Chair of the IHF Shannon Branch said: “It is now ‘make or break’ time with the situation having deteriorated further in recent days. The collapse in new bookings is extremely worrying and adds to an already exceptionally challenging environment.“This is a direct consequence of additional Government restrictions and points to a very difficult number of months ahead.”“Existing supports for the tourism industry are totally inadequate given the current restrictions. Urgent and unprecedented intervention by the Governmentis required to support tourism businesses and safeguard thousands of jobs throughout the sector.“This must form a central plank of the Budget due to be announced this month and should include enhanced employment subsidies, a reduction in tourism VAT, extended waiver of local authority rates and greater access to banking finance.” he said.Commenting on the impact of role of overseas tourism and Shannon Airport, Mr Kelly said that it is imperative that the airport receives the necessary policy and financial supports required to ensure it continues to provide air access to key international markets.“We are hugely concerned about the recent decision by United Airlines and Delta not to resume flights from Shannon International Airport in 2021 and the risk that Aer Lingus will move aircraft serving UK and US routes to other airport hubs.“This is further compounded by Ryanair’s threat to close their Shannon base. If these hubs are closed this will have a detrimental impact on the West and Mid-West regions for future growth of regional Ireland.“We must focus on ways to restore international travel safely as soon as possible – a market that equates to 70% of our market base annually. In immediate term, this will require an urgent alignment of our national travel policy with the framework being adopted by the EU. This must be backed up by an effective testing and tracking regime to facilitate safe travel and protect the health and livelihoods of all.”“We’re calling on government to implement fully the recommendations of the Aviation Recovery Taskforce and deliver targeted supports to Shannon International Airport so that we can retain and develop international connectivity into the region. Failure to support Shannon Airport runs the risk of long-term damage to the tourism industry and the wider economy of region.”Economic contribution of tourism – Limerick and wider regionTourism plays a vital economic role across Limerick and the wider region. Prior to Covid-19, Limerick’s tourism and hospitality industry supported 11,500 jobs and generated €327 million in revenues annually for the local economy. Limerick is now facing a deepening crisis with 8,500 local tourism jobs at risk this year.The impact is even more stark across the wider region taking in Limerick, Clare, Tipperary and Galway, which up until last year generated a combined €1.6bn in tourism revenues and supported some 50,000 tourism jobs and. Up to 36,000 of these jobs are at risk this year.Urgent Government measures required to safeguard Irish tourism as part of this year’s Budget: Employment Wage Subsidy Scheme (EWSS) – if jobs are to be retained, the EWSS rates of support must be increased to the previous TWSS levels of €350/€410 per week for businesses that can demonstrate a 50% reduction in turnover for a 12-month period to 31 March 2021. The Period for calculating the existing 30% reduction should also be extended on a similar basis. This would make it possible for employers to retain staff during the difficult winter/spring months ahead and to facilitate training and upskilling structures designed to allow employees get personal benefit from this challenging period and to help the industry prepare for post Covid-19 recovery opportunities. Payments should be made on a weekly basis to assist with cashflow. The scheme should be continued until the impact of Covid-19 restrictions has fully abated.Reduction in tourism VAT to 9% – permanent restoration to 9% to assist recovery and secure a viable and sustainable future for tourism. Reducing VAT will not only provide a stimulus in the Irish economy but also improve our competitiveness as an international tourism destination. VAT on Irish Hotels is currently the second highest in Europe and higher than 30 European Countries.Liquidity Measures – Additional liquidity measures are required to help fund hotels during the coming months as a result of the cash flow lost out due to Covid-19 restrictions, including extension of the moratorium on bank term loans from 6 months to 12 months.Local Authority Rates Waiver – The waiver period should be extended for tourism businesses to coincide with business interruption due to Covid-19 and for a minimum of 12 months. After that, payment of local authority rates should be based on reduced levels of activity due to the crisis and until the industry has recovered. Printcenter_img Advertisement Facebook Linkedin Previous articleJunior Rugby Round UpNext article56 goals as Desmond League kicks off Staff Reporterhttp://www.limerickpost.ie Roisin Upton excited by “hockey talent coming through” in Limerick Twitter Donal Ryan names Limerick Ladies Football team for League opener Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clash last_img read more

The Impact of Forbearance on the RMBS Market

first_imgHome / Daily Dose / The Impact of Forbearance on the RMBS Market  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News Related Articles Demand Propels Home Prices Upward 2 days ago Previous: DS5: Challenges in Property Preservation Next: Re-Evaluating the Payroll Protection Program Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save The Impact of Forbearance on the RMBS Market Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Forbearance MBS mortgage 2020-05-14 Seth Welborn About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The coronavirus pandemic is triggering widespread use of forbearance plans or “payment holidays” in the U.S. mortgage market. A new report by Fitch Ratings, “What Investors Want to Know: Coronavirus-related Forbearance Plans in U.S.,” describes the various programs and potential impact on RMBS ratings.RMBS documentation is likely to be silent on the treatment of COVID-19 related forbearance plans. Often the only reference to forbearance in the transaction documentation will be limited to treatment of forborne principal as a result of loss mitigation efforts of a servicer. Payment forbearance, or a “payment holiday”, has a different meaning and treatment in RMBS.Missed payments as part of payment forbearance plan that are deferred as a lump sum payment due at maturity may be deemed a modification by the servicer in PLS transactions. Once modified, the servicer may reimburse it principal and interest (P&I) advances from the principal portion of collections, which could result in permanent write-downs to the bonds to the extent excess spread is not available. The impact on the deals will depend on the number of borrowers needing forbearance, the length of time of the forbearance period, the proportion of borrowers that require loan modification or other loss mitigation and RMBS transaction structural mitigants that limit the impact of advance reimbursement.Fitch announced its intention to apply new delinquency timing stresses, increased loss expectations, and the potential impact on U.S. RMBS ratings in the exposure draft report, U.S. RMBS Coronavirus-Related Analytical Assumptions. Heavy utilization of COVID-19 related forbearance plans may skew some RMBS performance-related triggers. Additionally, Fitch may adjust its analytical assumptions as more information becomes available.Originators are increasingly bypassing traditional interior property inspections and looking to new guidance provided by government regulators and the GSEs offering temporary alternatives for new loans. Fitch believes that it is appropriate during this period to continue to perform more outside-the-box pre-close appraisals for loans designated to be included in PLS. Fitch believes that exterior-only inspections can be effectively used during the coronavirus outbreak without introducing material additional credit risk in many purchase and rate-term refinance transactions.Fitch has observed that many originators have updated their non-conforming loan guidelines to reflect the March guidance from the GSEs. Mortgage originators are likely to apply this policy for the duration of the coronavirus outbreak; new loan closings are expected to reflect the revised approach over the coming months. Sign up for DS News Daily Tagged with: Forbearance MBS mortgage Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago May 14, 2020 1,416 Views Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Subscribelast_img read more

Kerala Govt. Makes Online Rummy Illegal When Played For Stakes

first_imgNews UpdatesKerala Govt. Makes Online Rummy Illegal When Played For Stakes LIVELAW NEWS NETWORK28 Feb 2021 9:55 PMShare This – xThe Kerala Government has issued a notification making online rummy illegal when played for stakes.Section 14A of the Kerala Gaming Act, 1960, which regulates gambling activities, empowers the Goverment to exempt a game from all or any of the provisions of the Act if they are satisfied that in any game the element of skills is more predominant than the element of chance.By a…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 Government has issued a notification making online rummy illegal when played for stakes.Section 14A of the Kerala Gaming Act, 1960, which regulates gambling activities, empowers the Goverment to exempt a game from all or any of the provisions of the Act if they are satisfied that in any game the element of skills is more predominant than the element of chance.By a notification issued in 1976, the Government had exempted ‘Rummy’ invoking Section 14A. On 23rd February 2021, the Government amended this notification and added the following words: ‘Except online Rummy when played for stakes’.A Public Interest Litigation seeking ban of online rummy was disposed of by the High Court of Kerala recently recording the submission made by the State that they would take a decision on the aspect of inclusion of online gambling and online betting, within the purview of the Kerala Gaming Act, 1960. One Pauly Vadakkan had approached the High Court seeking the ban of online rummy contending that the gambling through online platforms is now a growing menace in the State. It was submitted that Gaming Act is inadequate to deal with the challenges posed by online gambling as it does not have provisions covering activities done virtually via electronic devices.Last year, the Madras High Court had stressed upon the urgent need to address and regulate “online games” such as rummy, bridge, nap, poker, etc. that are luring unemployed youth to bet their money. The Gujarat High Court had also directed the State to consider a PIL, seeking regulation of online gambling, as a representation, and do the needful in the “larger public interest”.Read Notification Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

Arts festival supports Kelly scholarship fund

first_img Kelly said her mother was a woman of meager means but she was eager to help young people with the monies that she had, whether it was pencils for school or shoes for their bare feet. “When my mother died in 2009, I took the money that was left from a small insurance policy she had and started the memorial scholarship in her name,” Kelly said. “In the years since, I have personally funded the scholarships that were awarded to students at Charles Henderson High School.”The scholarship awards are somewhat different from other scholarships in that they are awarded to students who would not otherwise qualify for scholarships. Arts festival supports Kelly scholarship fund Just in the “Nick of Time,” there’s a holiday festival that will offer a wide variety of unique gift items while providing funds for scholarships for students who would otherwise fall through the cracks in educational funding opportunities.In 2010, Glenda Kelly of Troy began funding four annual scholarships in memory of her mother, Tessie Ola Hooten Kelly.“My mother, who worked for Dr. Doug Hawkins for 40 years, only got to go through the 10th grade but she realized the importance of a high school diploma. She also knew that students who continued their educations had better opportunities than those who didn’t.”The late Tessie Ola Hooten Kelly is honored through a scholarship fund that provides four grants each year. The scholarships are funded, in part, by an upcoming arts festival coordinated by her daughter, Glenda Kelly. Remember America’s heroes on Memorial Day Sponsored Content Troy falls to No. 13 Clemson Around the WebIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthTop 4 Methods to Get Fortnite SkinsTCGThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel By Jaine Treadwell Email the author Published 3:00 am Friday, November 25, 2016 Skip Book Nook to reopen Plans underway for historic Pike County celebration Vendor booths for arts, crafts and food are available at $65 for outside booths and $100 for inside booths for all three days of the festival. Booths for churches and non-profit organizations are $25. Proceeds from the “Nick of Time Fest” will fund the Tessie Kelly Memorial Scholarships with a percentage going to the Troy Shrine Club.For more information or to reserve a booth, call 334-372-8679 or 424-8452. “These are students who would fall through the cracks otherwise,” Kelly said. “They are not the A and B students. Some have spent time in alternative school and in-school suspension. Because of circumstances and in spite of their potential, they have not been successful. But the scholarships give them the encouragement they need to move forward. I have been so pleased with the progress of those who have received the scholarships. They had attended trade schools, junior colleges and Troy University.”Now, in an effort to continue the scholarship awards and hopefully extend them to other schools in the county, Kelly and a friend, Demetria Pickett, are sponsoring the “Nick of Time Holiday Fest” December 9, 10 and 11 at the Pike County Fairgrounds.The festival will be from 10 a.m. until 6 p.m. on Friday and Saturday and from 1 until 6 p.m. on Sunday. There is no admission charge but each person who attends is asked to contribute one canned food item to support the food pantry at the Pike County Salvation Army.The arts and crafts festival will include a kids zone and entertainment and a special Breakfast with the Elves at 10 a.m. on Saturday. Kids will have a make-and-take item as a remembrance of their breakfast with the elves. There is a $5 charge for the breakfast. The Penny Hoarder Issues “Urgent” Alert: 6 Companies… Pike County Sheriff’s Office offering community child ID kits By The Penny Hoarder Print Article You Might Like Shirley: Seek gratitude The annual Brundidge Community Thanksgiving Service was held Tuesday night at Salem Baptist Church with the Rev. Ed Shirley, pastor… read more Latest Storieslast_img read more

Prep Sports Roundup: 1/29

first_imgRegion 17 FacebookTwitterLinkedInEmailBoys Basketball Region 14 Written by SALINA, Utah-Brinley Cornell amassed 19 points as Kanab routed North Sevier 66-30 Tuesday in Region 18 girls basketball action. Brinley Mason had 10 points in the loss for the Wolves. January 29, 2019 /Sports News – Local Prep Sports Roundup: 1/29 ENTERPRISE, Utah-Ronnie Robinson stepped up with 14 points as the Enterprise Wolves edged Beaver 43-40 Tuesday in Region 18 girls basketball action. Sydnee Gillins led the Beavers in defeat with 23 points. Brad James FILLMORE, Utah-Megan Wade netted 19 points and the Millard Eagles smacked Gunnison 60-37 in Region 18 girls basketball action Tuesday. Jaida King’s 13 points led the Bulldogs in the loss.center_img ROOSEVELT, Utah-Reid Price netted 19 points and the Union Cougars got past Juab 56-50 Tuesday in Region 14 boys basketball action. Easton Wright’s 15 points led the Wasps in defeat. Girls Basketball Region 18 BICKNELL, Utah-Jordyn Kennedy’s 12 points led the Piute Thunderbirds in a 50-44 win over Wayne in non-region girls basketball action Tuesday. Hannah Morrill had a game-high 15 points for the Badgers in defeat. SANDY, Utah-Jaimeson Meyer’s 9 points and 7 rebounds led the Waterford Ravens, but it wasn’t enough as they fell 61-29 to the Wasatch Academy Tigers in Region 17 girls basketball action Tuesday. Non-Region Tags: Brinley Cornell/Easton Wright/Hannah Morrill/Jaimeson Meyer/Jordyn Kennedy/Megan Wade/Reid Price/Ronnie Robinsonlast_img read more

Scorecard roundup — 3/5/20

first_img FacebookTwitterLinkedInEmailiStock(NEW YORK) — Here are the scores from Thursday’s sports events:NATIONAL BASKETBALL ASSOCIATIONDenver 114, Charlotte 112L.A. Clippers 120,Houston 105Philadelphia 125, Sacramento 108Toronto 121, Golden State 113NATIONAL HOCKEY LEAGUEPhiladelphia 4, Carolina 1Pittsburgh 4, Buffalo 2Tampa Bay 4, Montreal 0NY Rangers 6, Washington 5 — OTOttawa 4, NY Islanders 3Boston 2, Florida 1 — OTNashville 2, Dallas 0Chicago 4, Edmonton 3Minnesota 3, San Jose 2Los Angeles 1, Toronto 0 — SOTOP-25 COLLEGE BASKETBALLSan Diego St. 73, Air Force 60Oregon 90, California 56Ohio St. 71, Illinois 63UConn 77, Houston 71Michigan 82, Nebraska 58Copyright © 2020, ABC Audio. All rights reserved. Written by March 6, 2020 /Sports News – National Scorecard roundup — 3/5/20center_img Beau Lundlast_img read more