Archegos set for insolvency as it braces for legal claims from banks

first_imgNow Archegos has hired restructuring advisers to assess the possibility of legal claims from some of the banks and plans to possibly wind down its operations, the Financial Times reported.  Nomura posted its biggest quarterly loss in over a decade as a result of its dealings with the firm, while UBS reported a surprise $774m hit last week. Credit Suisse was hit with billions of dollars in losses after the US hedge fund Archegos Capital defaulted on margin calls in March. (Photo by Spencer Platt/Getty Images) Also Read: Archegos set for insolvency as it braces for legal claims from banks When Archegos defaulted on margin calls – when a broker demands more money to be added to an account to cover potential losses – the banks offloaded huge stakes in nine companies at a discount.  A number of the banks are preparing to issue “letters of demand”, which will demand payment ahead of launching any legal proceedings.  Share The collapse of the family office, run by former Tiger Asia manager Bill Hwang, in March saw its brokers take a $10bn hit.  whatsapp Credit Suisse was hit with billions of dollars in losses after the US hedge fund Archegos Capital defaulted on margin calls in March. (Photo by Spencer Platt/Getty Images) Credit Suisse, Morgan Stanley, MUFG and Mizuoho all reported losses from the fallout after allowing Archegos to make bets on stocks.  “They have all lawyered up and threatened lawsuits”.The newspaper also reported lenders are investigating whether Hwang’s family office withheld or provided wrong information about the scale of its borrowing from other brokers. UBS is reportedly among the banks examining whether it was “fraudulently induced” to do business with Hwang’s firm. “There is a question mark over how much the banks are entitled to claim and whether the fund has any recourse for the way the banks behaved when they dumped the stocks. It will come down to what indemnity was in the loan and swap agreements,” one person told the FT. Archegos set for insolvency as it braces for legal claims from banks whatsapp Wednesday 5 May 2021 4:17 pm Angharad Carrick Credit Suisse was hit with billions of dollars in losses after the US hedge fund Archegos Capital defaulted on margin calls in March. (Photo by Spencer Platt/Getty Images) Also Read: Archegos set for insolvency as it braces for legal claims from banks Archegos is reportedly planning to file for insolvency as banks seek to recoup their losses after the firm failed to meet margin calls.  Show Comments ▼ Credit Suisse was hit with billions of dollars in losses after the US hedge fund Archegos Capital defaulted on margin calls in March. (Photo by Spencer Platt/Getty Images) Also Read: Archegos set for insolvency as it braces for legal claims from banks last_img read more

Walker hopes to win over skeptical lawmakers on tax proposal

first_imgGovernment | State GovernmentWalker hopes to win over skeptical lawmakers on tax proposalOctober 22, 2017 by Becky Bohrer, Associated Press Share:Alaska Gov. Bill Walker listens as Department of Revenue Commissioner Randall Hoffbeck discusses a compromise budget proposal with reporters in the cabinet room of the Capitol in Juneau on June 6, 2017. (Photo by Jeremy Hsieh/KTOO)Gov. Bill Walker says he wouldn’t go through the hassle of calling another special session this year if he didn’t expect Alaska legislators to pass the bills on his agenda.But Walker faces an uphill battle in selling skeptical senators on his new tax bill. The proposal is meant to help address a multibillion-dollar budget deficit that has persisted amid low oil prices.After the House passed an income tax earlier this year, the Republican-led Senate rejected it. Members argued that the tax was ill-advised for a sluggish economy.Senate President Pete Kelly, a Fairbanks Republican, says not much has changed.Walker also wants lawmakers to consider revisions to a criminal justice overhaul when the special session starts Monday in Juneau.Share this story:last_img read more

Moody’s joins Climate Bonds Partner Program

first_img Facebook LinkedIn Twitter James Langton “Our partnership with Climate Bonds Initiative allows us to boost their efforts to advance the development of international definitions and standards for green bonds, conduct research and educate issuers, investors, and other market practitioners,” says Henry Shilling, senior vice president with Moody’s, in a statement. The rating agency notes that green bond issuance rose 120% to US$93.4 billion in 2016, and issuance will likely set a new record in 2017. Through the first quarter, green bond issuance reached almost US$30 billion, Moody’s says. “Green bond issuance will likely set another record this year, yet this momentum could be accelerated with the benefit of improved and consistently applied environmental disclosures and reporting,” says Shilling. Sustainable bond issuance set record in Q1: Moody’s Moody’s Investors Service has joined an effort designed to help promote the growth of the green bond market, the credit rating agency announced on Wednesday. The Climate Bonds Initiative Partners Program aims to support efforts to advance the growth and development of a global market for green bonds, which are debt issues to finance projects that address climate change. Related newscenter_img Keywords Green bonds Green bonds grow amid rising interest in sustainability: Fitch Share this article and your comments with peers on social media Green bonds to bounce back in 2021: Moody’slast_img read more

Jamaican Educator among 2008 Women of Great Esteem

first_imgJamaican Educator among 2008 Women of Great Esteem UncategorizedMarch 20, 2008 RelatedJamaican Educator among 2008 Women of Great Esteem RelatedJamaican Educator among 2008 Women of Great Esteem FacebookTwitterWhatsAppEmail Jamaican educator L. Cecille Palmer, is among the list of recipients for the 2008 Emerald Awards, presented to women globally, who have distinguished themselves in their respective fields.The 12th annual award ceremony and dinner, organized by the Women of Great Esteem (WGE) Organization is slated for March 27 at the Brooklyn Botanic Garden in New York. Dubbed ‘An Emerald Night in Brooklyn’, the function will honour an eclectic group of nine women who, “like emeralds, are gemstones”, said The Rt. Rev. Sylveta Hamilton Gonzales, founder of WGE.In addition to Ms. Palmer, who is principal of the Holy Family School, other honourees are: Julia Lystra Collis, community activist from Trinidad & Tobago; Carmen Charles, labour activist from Guyana; Angela Barrow, a financier from Barbados; Ellen Stewart, actress/producer from the United States (US);Dr. Bernadette Cole Slaughter, educator, US; Dr. Betty Shabazz (posthumous), community activist, US; Joyce Q. Rogers, attorney/entrepreneur and vice president of the Ivy Technical Community College in Indiana; and Hon. Rose Pierre Louis, Deputy Borough President, Borough of Manhattan, who is from Haiti.Dr. Blossom O’Meally Nelson, who was named ‘Woman of Great Esteem’ in 2005, will co-host this year’s ceremony.The programme, which will be complemented by live entertainment, is sponsored by Caribbean Food Delights/Royal Caribbean Bakery/JerkQzine; Citibank; Bermuda Department of Tourism; and New York Congregational Nursing Center.center_img RelatedJamaican Educator among 2008 Women of Great Esteem Advertisementslast_img read more

U.S. boosts support to Palau for recovery from Typhoon Surigae

first_imgU.S. boosts support to Palau for recovery from Typhoon Surigae U.S. Department of the InteriorThe U.S. Department of the Interior’s Office of Insular Affairs (OIA) is pleased to announce an award of $300,000 in emergency maintenance assistance program funding to the Government of the Republic of Palau to augment U.S. Government support for disaster recovery efforts in Palau following the impacts of Typhoon Surigae on April 16, 2021.“The OIA team is pleased to provide this emergency assistance to support the President and the people of Palau as they continue to build back and recover from the impacts of Typhoon Surigae,” said Nikolao Pula, Acting Assistant Secretary for Insular and International Affairs. “We are pleased to help provide support to the people of Palau, along with our other federal partners and in support of our bilateral relationship.”“With Typhoon Surigae damaging over 1,000 homes, the USG continues to support our ally, Palau, with timely funding for communities to rehabilitate homes, schools, and especially healthcare facilities that are making vaccination progress on the fight against COVID-19,” said U.S. Ambassador to Palau John Hennessey-Niland.  The funds will be used to rehabilitate and repair schools and health-care facilities that were damaged by Typhoon Surigae to include roofs, walkways, water tanks and pumps, windows, signage, and other related equipment. While no lives were lost, the slow movement of Surigae combined with winds up to 75 miles per hour, heavy rainfall, and significant storm surges contributed to widespread damage and destruction to infrastructure, crops, livestock, and dwellings in several states across Palau. It was reported that 100% of households and infrastructure in the outer islands and at least 10% on Palau’s main island of Koror were affected. Vaccination progress for COVID-19 and other immunization programs have been hampered due to the widespread damage to households and infrastructure.Several federal partners provided support to Palau immediately following the disaster including the U.S. Agency for International Development and the U.S. Coast Guard.The OIA Maintenance Assistance Program is made available each year by Congress to support priorities in the U.S. territories and the freely associated states.  /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Ambassador, Congress, covid-19, crops, disaster, Emergency, Government, healthcare, infrastructure, Koror, livestock, Palau, President, Secretary, vaccination, Waterlast_img read more

Frescobaldi Group Names New Importer Partnerships for 2018

first_imgTwitter TAGSFrescobaldi Pinterest Share Previous articleReustle-Prayer Rock Vineyards Wins Double Gold at Oregon Wine ExperienceNext article2017 Harvest Marks a Return to “Normal” in SLO Wine Country Press Release Linkedin Home Industry News Releases Frescobaldi Group Names New Importer Partnerships for 2018Industry News ReleasesWine BusinessFrescobaldi Group Names New Importer Partnerships for 2018By Press Release – August 30, 2017 271 0 AdvertisementEffective January 1st, 2018, importation of the Frescobaldi Group’s portfolio in the US will be divided between Shaw-Ross International for the Frescobaldi Toscana estates and Danzante, and Vintus Wines for Masseto, Ornellaia, Luce della Vite and Attems. The entire portfolio had previously been imported by Folio Fine Wine Partners. Dividing the portfolio is in accordance with Frescobaldi’s practice all over the world; the US had been the only exception up until now. The cruise line, airline and duty-free business for the Frescobaldi Group will continue to be handled by Slainte Wines, with whom the Group has been doing business for 14 years.“We would like to thank Michael Mondavi and his great team of fine wine professionals for bringing our company and our brands to this point in their development in the US market,” Lamberto Frescobaldi, president of the Frescobaldi Group said. “It is our desire to take our business to a new level of sales and distribution in the US by separating the brands.” The Frescobaldi and Mondavi families have a long history of working together in various facets of the wine business, starting with the development of Luce della Vite in the early 1990s and continuing with the joint acquisition of Ornellaia in 2002. The Frescobaldi Group joined Folio Fine Wine Partners when the company first opened in 2005. “Our success in the US and the development of both Ornellaia and Luce della Vite will be forever tied to Michael Mondavi and the Mondavi family,” Lamberto Frescobaldi added. “They built the foundation for our success in the US. For that, we will always be grateful.”Advertisement ReddIt Email Facebooklast_img read more

Huawei hails H1 growth

first_img FCC mulls expanded Huawei, ZTE bans Previous ArticleAnalog Devices makes $21B move for MaximNext ArticleCTA pulls plug on CES Asia Blog: How is chip shortage affecting US? Tags AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 13 JUL 2020 Huawei posted double-digit revenue growth in H1 2020, highlighting increases across all three of its business segments as it continued to battle a US-led effort to stymie its global operations.In a brief announcement, the Chinese vendor said it ended June with CNY454 billion ($64.9 billion) in revenue, an increase of 13.1 per cent year-on-year.Its Consumer Business led the charge with revenue of CNY255.8 billion up from CNY220.8 billion in H1 2019. The Carrier unit brought in CNY159.6 billion, up from CNY146.5 billion, and Enterprise rose to CNY36.3 billion from CNY31.6 billion.Huawei released its business results as UK authorities reportedly prepared to make a final decision on a potential ban on its kit in 5G networks after weighing the impact of recent US sanctions on the company.The vendor said it remains committed to “working with carriers and industry partners to maintain stable network operations”, pledging to fulfil obligations to customers and suppliers “no matter what future challenges the company faces”.Revenue in Q1 stood at CNY182.2 billion, putting Q2 revenue at CNY271.8 billion, up 22 per cent year-on-year. Subscribe to our daily newsletter Back Author Relatedcenter_img Diana Goovaerts Español Diana is Mobile World Live’s US Editor, reporting on infrastructure and spectrum rollouts, regulatory issues, and other carrier news from the US market. Diana came to GSMA from her former role as Editor of Wireless Week and CED Magazine, digital-only… Read more Home Huawei hails H1 growth El fundador de Huawei propugna una transición hacia el software H1 earningsHuaweilast_img read more

Donegal man assaulted detective and tried to snatch his gun

first_img Donegal man assaulted detective and tried to snatch his gun News WhatsApp Google+ Gardai continue to investigate Kilmacrennan fire A Donegal man assaulted a detective and tried to take his gun after being arrested at a republican commemoration parade in 2010, a court has heard.Pat Barry, a member of Republican Sinn Fein, was highly intoxicated at the annual Wolfe Tone memorial march to Bodenstown, Kildare.As he was about to be put in a cell in a garda station he repeatedly punched the detective and tried to grab his gun from its holster before being restrained. The detective suffered permanent jaw injuries and was out of work for three months.After hearing the evidence at Dublin Circuit Criminal Court, Judge Leonie Reynolds adjourned the matter until next month when she will impose sentence. She advised Barry to make “arrangements” before coming to court on that date.Barry (56) of St Bridget’s Terrace, Bundoran pleaded not guilty to assault causing harm to Detective Garda Rory Sheriff at Naas Garda Station and threatening and abusive behaviour on Main Street, Sallins on June 13, 2010.He was convicted on both counts last month at Naas Circuit Criminal Court. He has three previous convictions for assault, dangerous driving and refusing to give a breath test.Prosecuting counsel Orla Crowe BL told the court that the march was being monitored by the Special Detective Unit and was passing by peacefully. Det Gda Sheriff spotted Barry in a very drunk state and asked him his name.Barry began abusing the garda and refused to give his details. A crowd gathered around and Det Gda Sheriff said he felt Barry was “inciting” them. He went to arrest him but Barry became extremely aggressive.The detectives didn’t have any handcuffs but managed to get him in the back of a garda van which took him to the station. As Det Gda Sheriff was bringing him into the cell area, Barry turned around and punched him in the face.He continued to punch him about the head and face as the garda tried to restrain him. At one point he made a grab for the garda’s firearm but Det Gda Sheriff held it in its holster.Other gardai came to help and Barry was pepper sprayed and eventually handcuffed.Det Gda Sheriff suffered two broken teeth and a damaged jaw and shoulder. He had to receive surgery on his jaw and shoulder and missed three months of work. He said he also incurred €4700 in medical bills but the court heard this will be covered by the Garda Compensation Board.He said his wife was pregnant at the time and had to care for him. He added that the injuries to his jaw are permanent and he can no longer chew on the left side.Defence counsel James Kelly BL said he had no submissions to make but Donegal handed in three references for Barry, including one from Philip McGlynn, Chairman of Bundoran Town Council. 75 positive cases of Covid confirmed in North Twitter Google+ Facebook Facebook Twittercenter_img WhatsApp Further drop in people receiving PUP in Donegal Previous articleHealth Minister releases details of hospital reorganisation for Letterkenny and SligoNext articleReport finds high levels of deprivation and dependency in Donegal News Highland Pinterest Man arrested on suspicion of drugs and criminal property offences in Derry 365 additional cases of Covid-19 in Republic Main Evening News, Sport and Obituaries Tuesday May 25th Pinterest By News Highland – May 14, 2013 RELATED ARTICLESMORE FROM AUTHORlast_img read more

Rewind: Bok midweek matches (2009)

first_imgRewind: Bok midweek matches (2009) Video published on May 20, 2020 Post by SA Rugby magazine Shop Bras Online | Search AdsTake a Look at These Bra and Panty SetsShop Bras Online | Search Ads|SponsoredSponsoredUndo Posted in English Premiership, Springboks, Top headlines, Videos Tagged Leicester Tigers, Saracens, Springboks ‘ AlphaCuteOprah’s New House Cost $90 Million, And This Is What It Looks LikeAlphaCute|SponsoredSponsoredUndo ‘ 熱門話題不要被酵素騙了!在萬寧賣的「這個」直接針對脂肪…熱門話題|SponsoredSponsoredUndoAaron Smith names South African as greatest World Cup scrumhalfSA Rugby MagUndoJapan-based Kiwi player: I hope to never experience this againSA Rugby MagUndoLife Exact BrazilGrace Jones Is Now 72 Years Old, This Is Her NowLife Exact Brazil|SponsoredSponsoredUndo ‘ GoGoPeak10 Most Beautiful Cities You Should Visit Once In Your LifetimeGoGoPeak|SponsoredSponsoredUndo ‘ World Cup-winning Bok quartet in Eddie Jones’ all-time XVMaverick coach Eddie Jones has named his Test dream team made up of players he has worked with throughout his illustrious career.SA Rugby MagUndoLoans | Search AdsLooking for loan in Hong Kong? Find options hereLoans | Search Ads|SponsoredSponsoredUndoCNAHow is life for Cambodian boy linguist after viral fame?CNA|SponsoredSponsoredUndoShop Bras Online | Search AdsBrilliant Bra and Panty Sets (take a look)Shop Bras Online | Search Ads|SponsoredSponsoredUndo贷款| 搜索广告在香港獲得貸款可能比您想的要容易贷款| 搜索广告|SponsoredSponsoredUndo熱門話題對肚腩脂肪感到後悔!試了在萬寧賣的這個後…熱門話題|SponsoredSponsoredUndo Watch: I wanted to rip Jean’s head off – Jaque FourieSA Rugby MagUndo ‘ ‘ Following reports that SA Rugby director of rugby Rassie Erasmus is keen to see an extended Springbok squad play midweek games before their Tests this year, here’s a look back at highlights from their matches against the Leicester Tigers and Saracens in 2009.ALSO READ: Boks will be targeted – PollardLeicester Tigers vs South AfricaALSO READ: Boks to resume midweek matches – reportSaracens vs South Africa last_img read more

Brill Fellowship for the Humanities Researchers, Netherlands

first_img LinkedIn 0 Share 0 November 30, 2010 Published by Site Default Assistant Professor in European Politics, Vienna → Leave a Reply Cancel ReplyYou must be logged in to post a comment. +1 Deadline: 31 January 2011Open to: researchers in the field of HumanitiesScholarship: € 1 000 per monthSince 2006 and for the next three years, publishing house Brill, the oldest publishing house in the Netherlands, has funded the accommodation of one or two so-called ‘Brill fellows’ with the Scaliger Institute. The Brill fellow carries out research in the Special Collections of the University Library within one of the publishing areas of Brill in the Humanities. The prospective fellow must be involved in one of the following main subject areas of Brill: Middle East & Islamic Studies; Asian Studies; Medieval & Early Modern History; Biblical & Religious Studies; Ancient Near East & Egypt and Classical Studies. The Brill fellow is expected to contribute to the activities of the Scaliger Institute, and to give a public lecture. If the opportunity presents itself, Brill is prepared to publish the lecture in co-operation with the Scaliger Institute.The Brill fellowship is intended for a minimum period of three months.The allowance, which is intended to cover the costs of accommodation and research, is Euro 1000 per month.Application processRequirementsThe applications for a Brill fellowship have to comply with a number of conditions:* A research proposal must be submitted in which the relationship between the proposed research and the primary sources, which are to be researched and consulted in the department Special Collections, is specified;* A list of manuscripts, editions of other items to be consulted in the library, supplied with shelf marks;* A start and end date of the proposed research;* A curriculum vitae;* A list of relevant publications;* Two academic references;Applicants for the Brill fellowship are required to fill out this application form, and send it to the co-ordinator of the Scaliger Insitute, K. van Ommen, MA, ([email protected]), Leiden University Library, Postbus 9501, 2300 RA Leiden, the Netherlands.The official webpage. Similar Stories Reddit Brill Fellowship for the Humanities Researchers, Netherlands Pocket ← Eurodyssey, Exchange Programme Tweetlast_img read more