You can tune out, the Brexit melodrama won’t get fixed anytime soon

first_imgThe Benn Act, aptly described as the Surrender Act by the Prime Minister and his team, effectively demolished any real chance of a deal – as it was intended to do – because it provided the EU with the assurance that the UK was mandated to seek an extension, precluding the pressure of a no-deal Brexit (especially on Ireland and Germany).  Opinion Despite compelling rumours to the contrary, it is unlikely that Johnson will attempt to disobey the Benn Act by either not seeking an extension to Article 50 or intentionally frustrating it. While this approach might cheer up ardent Brexiteers, it would cast him in a negative light with the general public as a Prime Minister who sees himself as above the law.  Wednesday 16 October 2019 4:27 am More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPuffer fish snaps a selfie with lucky divernypost.comConnecticut man dies after crashing Harley into live bearnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndozenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comUndoPost Fun25 Worst Movies Ever, According To Rotten TomatoesPost FunUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndo A few weeks ago, I took a break from reading the news because I was worried that Brexit developments were stressing me out too much. As we approach the 31 October Brexit deadline, we appear to have entered a rollercoaster ride phase in which the narrative alternates between reports of a Brexit breakthrough followed by those of a negotiation collapse, sometimes within a matter of hours.  Share Polling suggests that the British public are tired of the Brexit drama, and that they will return a Conservative government which is intent on delivering the “will of the people” – meaning Brexit as voted in the referendum of 2016, quite possibly on WTO terms, in early 2020.   whatsapp So where does that leave us?  You can tune out, the Brexit melodrama won’t get fixed anytime soon City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. When I returned to the papers late last week, I was relieved, and hardly surprised, that I hadn’t missed much. Neither side wants to bear the reputation as a spoilsport – for Johnson, because this is key to his stance as a diplomatically-minded statesman; for the EU, because negotiating ad nauseum is part of its cuddly, hug-a-neighbour, globalist ethos. Main image credit: Getty It is perhaps a sign of our growing impatience with Brexit that neither of these rather extreme news flashes appears to elicit much of a response. Something really big would have to actually happen for many of us to pay any serious attention these days. Creative solutions, such as the new double customs plan or previously proposed technology-enhanced simplified customs procedures (both of which could offer a plausible way out of the impasse), have already been thrown aside by the EU with insufficient scrutiny bordering on bad faith. Recent media speculation surrounding the meeting in Liverpool  between Boris Johnson and Leo Varadkar hinted that there was some kind of rapprochement between the parties, suggesting that an agreement is at hand. But this is more likely to be a reflection of both sides’ desire to appear reasonable and concessionary in the final stages before talks collapse.  With the Benn Act, the mask slipped well off the face. Those MPs who voted for it did not so much want to stop a no-deal Brexit as they did stop Brexit entirely under the guise of preventing no-deal calamities (that most now appreciate have been widely exaggerated). The end result of the current impasse is therefore that there will most likely be an extension until next year, during which period there will be a General Election. That one has been put off for so long is itself a shocking situation, particularly since so many MPs, especially in the Labour party, had been agitating for one for so long.  LIVERPOOL, ENGLAND – OCTOBER 10: In this handout image provided by the Irish Government Press Office British Prime Minister Boris Johnson (L) walks with Ireland’s Taoiseach Leo Varadkar (R) in the grounds of Thornton Manor Hotel near Birkenhead on October 10, 2019 in Liverpool, England. (Photo by Noel Mullen/ Irish Government Press Office via Getty Images) Readers are accordingly invited to take a break from the Brexit melodrama for the next few weeks. David CollinsDavid Collins is professor of international economic law at City University A Brexit deal remains unlikely this week, and the most probable immediate outcome is that there will be another extension to the Article 50 process.  The EU’s eagerness to grant yet another extension is likely also due to the expectation that it would secure enough time for the Remain-dominated parliament to legislate a second referendum. The subordinate expectation is, of course, that such a referendum would yield a desire to stay in the EU – an outcome which is far from given, but that’s a problem for another day. Unsurprisingly, Michel Barnier has indicated that the EU would grant this extension. To do otherwise would have condemned Ireland to the economic woes of being cut off economically from the EU, at least for a time.  The EU will not relinquish its hardline stance that Northern Ireland must remain in the customs union, something which the UK cannot allow. This would be an affront to sovereignty, and would condemn any government which oversaw this outcome into historic infamy.  whatsapplast_img read more

PM to reopen cinemas, museums and galleries in England

first_img (Getty Images) Also Read: PM to reopen cinemas, museums and galleries in England PM to reopen cinemas, museums and galleries in England Health secretary Matt Hancock said over the weekend he believed England is “clearly on track” to ease social distancing measures. He also did not rule out the possibility that people may have to register their details before going to a pub or restaurant. Show Comments ▼ The announcement will be made from parliament this afternoon. Johnson will also reveal the findings of a review into whether social distancing measures can be relaxed and the two-metre gap reduced. “I get the problems with the two-metre rule of course, ultimately there are problems with the fact that there’s a virus and the challenge for the country, for all countries is how to get as much of normal life as possible going again.” “The proposals that we will bring forward are how you can safely, safely reduce the two metres with the sort of mitigations we have been talking about,” said Hancock. The easing would come into effect on 4 July, in tandem with the reopening of other parts of the hospitality industry such as pubs, restaurants and hairdressers. “The more we open up, the more important it is that everyone follows the social distancing guidelines. We will not hesitate to reverse these steps if it is necessary to stop the virus running out of control,” a source in Johnson’s office told Reuters. Share Non-essential shops have already been allowed to reopen in England, as long as measures are taken to enforce the two-metre rule. Tuesday 23 June 2020 7:16 amcenter_img whatsapp The Prime Minister has weathered heavy criticism from industry who say an easing of social distancing is required in order for some businesses to operate properly. whatsapp (Getty Images) Also Read: PM to reopen cinemas, museums and galleries in England (Getty Images) Museums, cinemas, galleries and other cultural venues are set to be allowed to reopen as long as social distancing measures are kept in place, Prime Minister Boris Johnson is expected to announce this afternoon. Emily Nicolle The World Health Organisation recommends a distance of at least 1m to avoid infection, but UK scientific advisers say that a distance of 1m carries up to 10 times the risk of being 2m apart. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Tags: Coronaviruslast_img read more

Red Carpet Concert: Gabby George-Frank

first_imgAlaska Native Arts & Culture | Arts & CultureRed Carpet Concert: Gabby George-FrankOctober 12, 2016 by Annie Bartholomew, KTOO Share:The latest Celebration Sessions Red Carpet Concert video features Gabby George-Frank of Juneau. She performs her orginal song in a studio shared by Rico Worl and Christy NaMee Eriksen, who curated the eight-part series.The Celebration Sessions Red Carpet Concerts are a collaboration between KTOO, Kindred Post and Trickster Company. Watch other Red Carpet Concerts with David Sumiq Russell-Jensen, Chantil Dukart and  Lily Hope.Share this story:last_img read more

News / Ripples from coronavirus hit DP-DHL profits for €60m this month

first_imgBy Alex Lennane 28/02/2020 The impact of coronavirus has cost Deutsche Post-DHL’s group ebit between €60m-€70m ($66m-$77m) this month, it said this morning.In a preliminary earnings statement for its 2019 results – which hit target – it said it could not predict 2020 with any accuracy, owing to the potential impact of coronavirus.The group will publish its 2019 full-year results on 10 March, but said preliminary results showed revenues up 2.9% to €63.3bn, boosted by all five divisions, it said, although eCommerce made a loss of €51m and corporate functions €523m. Operating profit (ebit) was up 30.6% at €4.13 bn.However, it said that the only earnings guidance it could give for this year would exclude any impact of coronavirus. “In recent weeks, trade volumes have weakened, not only on the inbound and outbound China tradelanes, but also in other countries of Asia; constraints on industrial production are increasingly expected also outside of China,” it said.It noted that the biggest effects had been seen in its Express and Global Forwarding units.“Group-wide the negative impacts of the coronavirus crisis on group ebit amount to around €60m-€70m in the month of February, compared with the initial internal planning.”The group said its plans for StreetScooter would be scaled back, owing to the uncertainty.Frank Appel, chief executive, said: “The group decided to not further actively pursue the current exploratory talks regarding partnership options for the StreetScooter activities. Instead, StreetScooter will concentrate on the operation of the current fleet of e-vehicles.“We have always said that we do not want to be a car manufacturer. A further scaling of the business without the right partner does not fit our long-term strategic goals.”last_img read more

In Pictures: Celebratory scenes as Annanough visit local school with junior championship trophy

first_img RELATED ARTICLESMORE FROM AUTHOR WhatsApp Twitter Facebook Annanough’s Leinster Club junior football campaign may have ended in disappointment last Saturday when they went down to Louth champions Dundalk Young Irelands – but it was still a memorable season for the Vicarstown club.They claimed the Laois JFC title at the end of September when they got the better of O’Dempsey’s.It was the club’s first championship success since they claimed intermediate glory in 1978.Last week players from the club brought the trophy into their local primary school – St Colman’s NS in Stradbally.Children from Vicarstown and the Annanough catchment area mostly go to school in Stradbally – and so there were joyous scenes when three players and all past pupils of the school brought the trophy in.Goalkeeper Sean Hennessy and young forwards Killian Horgan and Damien McCaul brought the cup to the school where they were welcomed by principal Andy Hanrahan and staff.And while the school comprises students from Stradbally and Annanough and some other neighbouring clubs too, there was still a significant blue and yellow contingent to celebrate on the day.Players from the clubs compete together at Cumann na mBunscol level, Community Games and with Stradbally Parish Gaels while also representing their individual clubs. Pinterest WhatsApp Previous articleFr Paddy: Dealing with stress in our livesNext articleUnemployment rate in Midlands remains higher than national average LaoisToday Reporter By LaoisToday Reporter – 17th November 2018 SEE ALSO – In Pictures: Glorious celebrations as Annanough end four-decade wait for championship glory Community New Arles road opens but disquiet over who was invited to official opening Facebook Home News Community In Pictures: Celebratory scenes as Annanough visit local school with junior championship… NewsCommunity Council Pinterest Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ You can check out a selection of photos from our photographer Julie Anne Miller below. TAGSAnnanoughLaois JFC 2018Stradbally Twitter Laois secondary school announces scholarship winners for new academic year Community In Pictures: Celebratory scenes as Annanough visit local school with junior championship trophylast_img read more

Deaths in Laois – Friday, September 6, 2019

first_img Pinterest Home Deaths Deaths in Laois – Friday, September 6, 2019 Deaths GAA By LaoisToday Reporter – 6th September 2019 GAA Twitter Previous articleCastletown and The Harps ends in stalemate as junior semi-final must go to a replayNext articleRemember the Game: Sarsfields deny Timahoe to win historic first title in 2008 LaoisToday Reporter Below are the recent deaths in Laois.Ar Dheis De go raibh a anam.Agnes (Daisy) Dooley (née Grehan)Cloncannon, Mountmellick, LaoisPredeceased by her loving husband Martin, Brothers Jim and Tom, sisters Freddie, Evie and Maureen. Sadly, missed and lovingly remembered by her children Mary, James, Linda, Michelle and Martin, daughters-in-law Linda and Lisa, sons-in-law Jim, Seamus and Morad. sisters Carmel and Patricia and her brother Paddy, many grandchildren, sisters-in-law, brothers-in-law, friends and neighbours.Reposing in her home Thursday from 2pm. Reposing all day Friday with Recital of The Rosary at 8pm Friday evening. Funeral arriving St. Brigid’s Church, Rosenallis on Saturday morning for 11 am Requiem Mass. Burial after in St. Brigid’s Cemetery.Family time in her home on Saturday morning please.Angela Parkinson (née Walsh)Roskelton, Mountrath, LaoisAngela Parkinson (née Walsh) Roskelton, Mountrath, Co. Laois, 5th September 2019, peacefully, at her home, surrounded by her family. Sadly missed by her loving husband Patrick, daughter Emma, sons Shane, Brian, Gearoid and Darragh, grandchildren Freya and Senan, son-in-law David, daughters-in-law Karen and Tara, brothers, sisters, extended family, relatives, neighbours and friends. Reposing at Burke’s Funeral Home, Mountrath, this Friday evening from 5pm with Rosary at 7.30pm. Removal on Saturday morning to St. Fintan’s Church, Raheen (eircode R32 WT44), for Requiem Mass at 11am, followed by private Cremation.House strictly private. No flowers please, donations, if desired, to the Mater Hospital Foundation.Frank WallDerrycloney, Mountmellick, LaoisFrank Wall, Derrycloney, Mountmellick, Co. Laois. Died September 4th 2019 in his 92nd year. Peacefully at home surrounded by his loving family. Predeceased by his beloved wife Mary. Deeply regretted by his loving family and their spouses , Betty and Donal, Margaret and Patrick, Ann and Anthony, Tony and Michelle, Claire, Tracey and Kevin, Fran and Michelle. His sister Cecelia (Kirkland), grandchildren, great-grandchildren, nieces, nephews, brother-in-law Bruce, sister-in-law Judy, neighbours, relatives and many friends.Reposing in Margaret and Patrick’s home in IrishTown, Mountmellick (R32D 949) on Friday from 4pm. Recital of the Rosary at 8pm. Funeral arriving to St Joseph’s Church, Mountmellick, on Saturday for 11am Requiem Mass. Burial afterwards in St Joseph’s Cemetery, Mountmellick. Family time on Saturday morning, please. For live streaming of the requiem mass www.mountmellickparish.ieElizabeth BennettCoolnamona, Portlaoise, LaoisBennett, Crumlin, Dublin and late of Coolnamona, Portlaoise, September 2nd 2019, peacefully, at the Regional Hospital, Portlaoise. Elizabeth, daughter of the late Patrick and Peggy Bennett. Deeply regretted by her loving brothers Joe and Anthony, sisters Mary and Margaret, sisters in law, brothers in law, nephews, nieces, relatives and friends.Rest in Peace. Reposing at Keegans Funeral Home, Portlaoise, on Wednesday from 5.30pm. Removal at 7pm to arrive at St Fintan’s Church, Ballyfin, at 7.30pm. Requiem Mass on Thursday at 11am, followed by interment in SS Peter and Paul’s Cemetery, Portlaoise.Kathleen Kavanagh (née Brennan)Colt, Ballyroan, LaoisPeacefully in the loving care of her family. Predeceased by her husband Liam (1990)and son Barry (1982). Deeply regretted hy her loving daughters: Mary (Annabi), Dolores ( Murray), Louise and Grace, her loving sons: Austin, Paul, Raymond and Brian, her sons-in-law: Liam and Karim, her daughters-in-law: Marie and Betty, her grandchildren,her great-grandchildren, her brother Paddy, sisters-in-law and brother-in-law, nieces, nephews, relatives and friends.Reposing at her residence from today, Tuesday, from 5pm until prayers at 6pm on Wednesday. Transfer of remains to St. Peter and Paul’s Church, Portlaoise arriving at 7:15pm followed by Mass with Divine Mercy Devotions. Requiem Mass on Thursday in St. Fintans Church Raheen at 12 noon. Interment afterwards in the adjoining cemetery.Ann French (née Dempsey)Coolock, Dublin/Donegal/Portlaoise, LaoisFRENCH (née Dempsey) Ann 1st September 2019, (Coolock, Dublin and formerly of Donegal and originally from Portlaoise, Co. Laois) passed away peacefully at Beaumont Hospital surrounded by her loving family. Beloved mother of Bernadette, Veronica, Declan, John, Edel, Joseph, Ann, Orla and Jacinta; she will be very sadly missed by her children, grandchildren, great-grandchildren, daughters-in-law, sons-in-law, sister Sarah, nieces, nephews, relatives, friends and neighbours.Reposing at her daughter Bernadette’s home on Wednesday from 12pm onwards. Removal on Thursday 5th September to St. Joseph the Artisan Church, Bonnybrook arriving for 10.30am Funeral Mass, followed by burial in Dardistown Cemetery.SEE ALSO – Deaths in Laois – Thursday, September 5, 2019 Deaths in Laois – Friday, September 6, 2019 Facebook Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory center_img WhatsApp Here are all of Wednesday’s Laois GAA results WhatsApp GAA 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshin RELATED ARTICLESMORE FROM AUTHOR Pinterest Facebook Twitterlast_img read more

Terravant Wine Company Changes Name to Summerland Wine Brands

first_imgShare AdvertisementSanta Barbara County, CA—Effective immediately, Terravant Wine Company will become Summerland Wine Brands. With the recent infusion of $40 million in re-capitalization funds from Raven Capital Management, along with changes to its senior management team and the addition of a Napa, California office, Summerland Wine Brands is continuing maximize its position in the national marketplace with successful, crowd-pleasing brands like Summerland, King Chancho, Insomnia and Flavor Bomb.“The transformation to Summerland Wine Brands is the next directive in the company’s focus on growth,” said CEO Paul Griswold. “‘Summerland Wine Brands’ evokes a fresh perspective and an unwavering optimism in the excellence of our California-crafted national brands.” Summerland Wine Brands will build on its Central Coast initiatives while developing its reach into other wine regions throughout California. This amplified vision, paired with the ingenuity of its Napa-based creative development team, the expansion of its national sales force and enhanced support of its winemaking team, will bolster the quality, visibility and distribution of its national brand portfolio.“Our Buellton and Napa teams, along with our national sales force, are committed to growing our diverse portfolio of wines,” said Chief Sales Officer Mike Jackson. “In addition, Summerland Wine Brands is continuing to invest in the success of sales, marketing and winemaking, to recruit the right candidates to fill key positions and to offer unforgettable experiences at our Summerland tasting room in Summerland, California.”“These plans are in alignment with our efforts to also deepen our relationships with our distributor partners and chain customers across the country, with the unwavering goal of providing quality wines that deliver above their price point,” Jackson continued. Summerland Wine Brands’ Santa Barbara County-based winery combines the latest in state-of-the-art technological advances with thoughtful, hands-on winemaking practices. Summerland’s evolving portfolio of national brands, including Summerland, King Chancho, Insomnia and Flavor Bomb, is bolstered by its prolific private label and custom-crush enterprises. Highly nimble and exceptionally innovative, Summerland Wine Brands is committed to offering California-crafted wines at approachable price points.Advertisement Email Linkedin Facebook TAGSfeaturedSummerland Wine BrandsTerravant Wine Company Twitter Pinterest ReddIt Home Industry News Releases Terravant Wine Company Changes Name to Summerland Wine BrandsIndustry News ReleasesWine BusinessTerravant Wine Company Changes Name to Summerland Wine BrandsBy Press Release – July 23, 2019 1776 0 Previous articleAfternoon Brief, July 22Next articleIntroducing Fighting Chance Pinot Noir Press Releaselast_img read more

Apple strikes breakthrough NTT Docomo deal, expands in China – reports

first_img AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 06 SEP 2013 NTT Docomo, Japan’s largest mobile operator with around 60 million subscribers, will soon start selling iPhones for the first time, while China Telecom and China Unicom look poised to carry Apple’s latest iPhone models within days of their expected launch in Beijing next week.According to Reuters’ sources, NTT Docomo will probably start selling iPhones as soon as autumn, helping Apple extend its reach in a country where it already has around a 40 per cent market share (more than three times the share held by rival Samsung).There have been some sticking points in reaching an agreement between the two companies in the past. These include allowing Docomo to preinstall its own proprietary apps and services on the iPhone, as well as allowing the Japanese firm to put its logo on every iPhone it sells.There has also been speculation that Apple insists iPhones make up more than 50 per cent of a carrier’s total handset sales, but DoCoMo, apparently, prefers a cap of 20-30 per cent.Reuters’ sources did not reveal the conditions of the agreement.“It’s possible Apple were more flexible with DoCoMo because obviously it’s a large carrier and it’s somewhere they could get new unit volumes to come through,” said Nathan Ramler, head of Asia telecommunications research at Macquarie Capital Securities in Tokyo, quoted by Reuters.According to local reports an announcement on NTT Docomo is likely to come on 10 September when Apple is expected to unveil the latest version of the iPhone.Over in China, China Unicom and China Telecom, the country’s second- and third-biggest operators – which already have iPhone distribution deals with Apple – will reportedly start selling the latest iPhone models within days of their likely unveiling at an event staged by the Cupertino giant on 11 September in Beijing (a day after the US event).“There used to be a wait of a few months before Apple launches their latest products in China, but nowadays, China is too important a market for Apple and so it will be the first batch of markets to start selling the low and high-end iPhones next week,” an unnamed operator source told Reuters.China Mobile is the only carrier without an iPhone contract, although a deal is rumoured to be on the cards, particularly if Apple’s high-end 5S model supports China Mobile’s favoured TD-LTE technology. Previous ArticleThailand’s True Corp may trim IPO fund to $1.9B – reportNext ArticleHotelTonight books $45M in funding Tags Author BlackBerry boss looking for partners to counter Apple/IBM – report Ken Wieland Relatedcenter_img China Mobile to slash 4G tariffs; shareholder concern about profitability – report Uncategorized Sprint CEO “wide open” to consolidation; outlines value player strategy Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight…More Read more AppleChina MobileChina UnicomiPhoneNTT-DoCoMoTechnology HomeUncategorized Apple strikes breakthrough NTT Docomo deal, expands in China – reportslast_img read more

Sprint gets $40B backing for T-Mobile US merger announcement in August – report

first_img OneWeb, SoftBank Corp plot Japan satellite move AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 20 JUN 2014 Sprint has lined up eight banks to finance its intended purchase of smaller rival T-Mobile US, according to Reuters’ sources, and a merger announcement is on the cards for August.Details have so far been sketchy on how Sprint – majority-owned by Japan’s SoftBank – would finance a T-Mobile US takeover, but sources “familiar with the matter” say a debt package exceeding $40 billion has been put together.As well as commitment from the eight banks – three of which are Japanese – the package includes a $20 billion bridging loan from SoftBank.The companies involved, said the sources, are looking to sign off on the financial details in time for a merger announcement around August.According to various reports last month, Sprint and Deutsche Telekom (which owns 67 per cent of T-Mobile US) had broadly agreed on a deal that would value T-Mobile US at almost $40 per share. That would place an equity value of about $31 billion on T-Mobile US.Factor in T-Mobile US’ debt that Sprint will be taking on (around $14.5 billion), yet adding the $5.5 billion cash on T-Mobile US’ books, and the enterprise value ends up at around $40 billion.Sources said Sprint would offer a 50/50 mix of stock and cash for T-Mobile US, leaving Deutsche Telekom with a 15 per cent stake.Masayoshi Son, Sprint chairman and SoftBank CEO, has long coveted T-Mobile US, arguing that a tie-up between the third- and fourth-largest mobile operators in the US would give the necessary scale to mount a more serious challenge to front-runners Verizon Wireless and AT&T.It’s far from certain, however, that Son will convince regulators to allow a merger to go ahead. At a recent conference, however, he argued that mega-deals between telecoms and media companies – AT&T’s $49 billion move on DirecTV, and Comcast’s $45 billion deal for Time Warner – made a tie-up between Sprint and T-Mobile US all the more compelling if those other deals were given the regulatory thumbs up.The two enlarged firms, said Son, would mean competition for internet access was restricted as there was only one other company – Verizon – that could match them in terms of scale.“Right now, there are three big players out there, and they are getting even bigger,” he said Son. “If anyone says four is better than three, I agree with that. We should be number four.”Conscious of the regulatory risks, Deutsche Telekom reportedly managed to secure a hefty compensation package of $2 billion from Sprint in the event that any future merger with T-Mobile US is blocked by regulators (a much higher sum than the $1 billion previously reported by the Wall Street Journal).Deutsche Telekom will also reportedly pay a break-up fee of roughly $1 billion if it tries to wiggle out of the deal.The banks involved in Sprint’s $40 billion debt package, said Reuters’ sources, are JPMorgan Chase & Co, Goldman Sachs Group, Deutsche Bank, Bank of America Merrill Lynch and Citigroup, as well as Japanese banks Mizuho Financial Group, Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Financial Group. Previous ArticleEE to launch VoLTE in 2015, polishes voice credentialsNext ArticleApple planning several smart watch models — report Tags Ken Wieland FinancialRegulatorySoftBankSprintT-Mobile Home Sprint gets $40B backing for T-Mobile US merger announcement in August – reportcenter_img Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight…More Read more Deutsche Telekom, SoftBank tipped for T-Mobile trade Related T-Mobile US readies 5G FWA business move Author Asia last_img read more

A series of moments, and THE moment for Tiger on Sunday

first_imgATLANTA – Stop it here. Have you ever seen anything like this? He hasn’t. It revives memories from years past: 1997 outside Chicago, after he won at Augusta, being one. But nothing to this degree. This is a breath-halting moment, the kind you want to stop and live in and enjoy. Hundreds from here, hundred from there, forming a thousand-person mob, converging on one man. But that’s not the moment. It’s a moment. A moment of many this day that lead to the moment. Let’s stop it here. This moment will live in perpetuity on social media; it’s what the modern medium was made for, to be able to entertain presently and forever serve metaphorically: Black, sleeveless gym shirt; black hat on backwards; Ryder Cup drawstring bag slung over his right shoulder [as he readies to battle two European foes, if observers really dive deep into this one]; power-red shirt in his left hand. The look is casual, the effect intended is purposeful: I’m the badass, say the exposed biceps. I’m the man in charge, says the attire on the hanger. And if you forgot either of those, this moment is your reminder. This is a day of moment upon moment, a series of snapshots that tell a full story. It’s a definitive day in a career of defining moments. It’s a day comprised of individual instances, some of which will remain ingrained in the minds of those who witnessed; some of which were never given much thought. Stop it here. It’s a solitary figure on an expansive landscape. A man preparing to play his part. There’s a panorama of green and blue around him. A practice putting surface, a perfect sky, a peaceful lake. No one shouts his name, no one interrupts his work. Soon that will change. Waves of screams will ripple across the course. Necks will crane and phones will record and the multitude will follow, and none of it will be unfamiliar to him. A storm awaits. But, for now, in this moment, there is a calm. Stop it here. This moment doesn’t seem right. Just minutes ago, he was 25 yards in arrears off the first tee. Now, he’s dead-eyeing a 10-footer for birdie while the opposition is trying to calculate how to two-putt from 40 feet – that opening salvo sound with no fury. The opposition has youth, power and bravado. All fine attributes. But the day’s protagonist has an unequaled desire and greater accuracy, tipping the scales – and turning moments – into his favor. Just when you think you’re in control, you realize that he is. And you’ve lost another shot. Stop it here. Look down from above the fourth tee. It’s an ocean of people, 10, 12 deep, forming a peninsula around him. They’re all here for him, which is nothing new. They’ve always shown for him. But this time – and this representative moment – is unlike the way it used to be. Then, they came to be entertained, to witness something grand. Now, they’re more supportive, personally. They still want to experience whatever greatness may remain, but they’re aware of what he’s endured to get to this moment. He’s appreciated. He’s been humanized. Stop it here. They said this would never again happen. Not now, not with today’s players. There was no way, ever again, that the modern men would fold if he got into contention. His previous competition was inferior, they said. Never again would his steady Sunday approach work. And, yet, here we are. In this moment, looking at this leaderboard. He’s made one birdie through five holes and extended his lead by two, against a field of the top 29 opponents the Tour could gather. The world No. 1, his perceived heir, this year’s Player of the Year, last year’s Player of the Year, the major winners, the multiple winners, where is their challenge? They’ve offered none and what once was, is again. Stop it here. He’s played nine holes and has nine more to go. But after one swing on the inward half, he’s found trouble, a pushed tee shot well to the right. In this moment, his head is down. Maybe the nerves are taking over. Sure, he’s got a five-shot lead and has done this 79 times before, but, as we’re all aware, he’s human. Maybe there is some inner-turmoil to which we aren’t privy. Or maybe he’s just assessing his lie and analyzing his options. Maybe he’s just figuring out how to minimize the damage. Maybe he’s got this under control, knowing a bogey – just one dropped shot – won’t kill him. Stop it here. This feels like the perfect moment. It’s going to happen here, that first birdie since the first hole. The corporate tent backdrop at the 13th – in addition to the ever-growing number in tow – gives it that extra dynamic. This is the moment he has always provided, that signature moment – no matter how mundane a clinching round may have been – that sends everyone into a tizzy. Like old times, he makes that moment. Stop it here. Three feet, seven inches for par. Doesn’t seem like much. Unless you take into account a bogey at 15, a bogey at 16, and the possibility of being only one up with one to play. For all his putting problems this year, 3-footers have not been an issue. He’s made them all. Every one of them. Of course, none have had a level of stress such as this. This moment is about trust. Taking his time, going through a routine, and making a confident stroke. Something normally so simple, now so significant. These are the moments in which he’s always been his best, and he is again. Stop it here. Actually, let him get through the mass of humanity. They’ve engulfed him in the fairway and we need him to emerge. It takes a beat too long, but he finally steps through. This is an extraordinary sight, but, again, it’s not the moment. The moment unlike anything else. That is a moment many, himself included, thought might never come, the moment Tiger Woods raised his hands above his head in victory. It may not be the greatest moment in Woods’ career, nor his most emotional. He may win more Tour events, more majors, and those moments may be more dramatic, more historic. But because of what he’s been through, and what we will never fully appreciate, and because this was the first triumph since it all, and because we never know what is to come, there will never be another moment like this one.last_img read more