Some peace at last? Alliance Trust to buy back activist investor Elliott’s shares

When Elliott became a shareholder over five years ago Alliance Trust had poor corporate governance and its shares traded at more than a 15 per cent discount to net asset value.Since then, corporate governance has improved, an external asset manager has been proposed and the discount has narrowed to less than five per cent.Elliott welcomes the opportunity to participate in the offer being made to all other shareholders under the buyback programme. Share whatsapp Read more: Under Press-ure: Activist takes 19 per cent stake in Johnston Press groupWhat the analysts saidAnalysts seemed to think the agreement suited both parties. Friday 27 January 2017 10:49 am “We believe that this is a good outcome for all sides,” said analysts at Numis this morning.“We have been positive on the changes announced by the board, and believe that a low-cost multi-manager investment company holds considerable appeal if it can deliver consistent outperformance of the MSCI AC World benchmark. Some peace at last? Alliance Trust to buy back activist investor Elliott’s shares “However, we felt that the results of the strategic review, announced in mid-December, were flawed as they failed to address the problem of how to find an exit for Elliott.“In our view, Elliott would have been a ‘thorn in the side’ for the company and might even have added further to its stake.” Laith Khalaf, senior analyst at Hargreaves Lansdown, said: Elliott has totally transformed Alliance Trust and turned a tidy profit into the bargain, though it remains to be seen whether the changes deliver long term value for shareholders. However the discount has narrowed significantly, and on paper the new investment strategy looks like an improvement.The withdrawal of Elliott is also positive for remaining shareholders because it will boost the NAV of the trust, and will hopefully lead to some much needed stability in terms of strategy. William Turvill The drama peaked in 2015 when, shortly before chief executive Katherine Garrett-Cox was forced out, Alliance accused Elliott of acting in a way that “threatens the very existence of the company, and rides roughshod over our long-term shareholders, our customers and our over 250 employees”.Read more: French Connection boss signals two non-executive directors will step downIn a statement this morning, Alliance revealed it will buy back the 19.75 per cent of shares owned by Elliott in five equal tranches. Alliance will be seeking approval for the buy-back at its general meeting on 28 February.Alliance said the move would enable the company to “move forward with its multi-manager proposal against the backdrop of a share register that is settled and supportive for the longer term”.A spokesperson for Elliott said: Relief at last for Alliance Trust’s management team: the company announced this morning it has reached a deal to buy its shares back from activist shareholder Elliott.The US hedge fund became a shareholder in the investment trust in 2011, and has, to put it mildly, shaken things up a little. whatsapp read more

Read More »

Downing Street says Mark Carney still set to leave the Bank of England in 2019

Monday 3 September 2018 12:51 pm Downing Street says Mark Carney still set to leave the Bank of England in 2019 whatsapp Share “The governor said he intends to step down in June 2019,” the Prime Minister’s spokesperson said, adding that Carney’s successor will be announced by the Treasury “in due course”.Carney will be scrutinised tomorrow on his plans by MPs on the Treasury Select Committee. The Financial Times reported that people close to the governor say he would be willing to extend his term.Meanwhile, the BBC said the Treasury was concerned about the difficulty of recruiting a suitable candidate at a time when there is uncertainty over the future relationship between the UK and the EU. Carney could stay on for as much as another year, although no deal has been reached, the BBC said.The Canadian was chosen by former chancellor George Osborne as governor in 2012, and was originally scheduled to finish in June 2021. However, he subsequently announced he intended to step down in 2019.The Treasury advertised Carney’s role in public for the first time ever, and had planned to carry out a near-identical process this time around. However, the Treasury has given no indication that the recruitment process has started in earnest. Jasper Jolly whatsapp Mark Carney is still on track to leave the Bank of England in 2019 according to the Prime Minister’s spokesperson, in spite of reports he may be considering an extension to his time as governor in Threadneedle Street.Carney is currently set to lead the Bank until the end of June 2019, three months after the UK leaves the EU, but 10 Downing Street today appeared to overrule the Treasury after reports it was considering offering a longer term in office. read more

Read More »

Feds extend Obamacare deadline for some Alaskans

first_imgFederal Government | Health | SyndicatedFeds extend Obamacare deadline for some AlaskansFebruary 26, 2017 by Ed Schoenfeld, CoastAlaska News Share:Some Alaskans have another chance to sign up for health insurance under the Affordable Care Act.Enrollment for insurance through the Affordable Care Act has been reopened for some Alaskans. (File photo)A special enrollment period is being offered to those who were in a plan from Moda Health last year.That company has since dropped out of the program, though it provides other coverage in the state.Jon Zasada of the Alaska Primary Care Association said some Moda customers didn’t know they could sign up for a plan from Premera, the state’s only ACA provider.“If they were effectively covered at the end of the year and lost their insurance due to the fact that Moda was no longer in the market, they are eligible for a special enrollment period through March 1st of 2017 for the 2017 coverage year,” he said.Details are available through the website getcoveredalaska.org.Enrollment for most other Alaskans had to be completed by the end of January. But those with significant life events, such as marriage or having a child, are allowed to sign up at other times.The Trump administration and Congress have vowed to repeal or significantly change the Affordable Care Act, also known as Obamacare.But Zasada said those enrolled will likely have coverage through the end of this year.“No official action has been taken yet that changes the current law,” he said. “If folks are interested in gaining coverage and learning about their options, given the current set of rules or under any changes that might be coming up, we are available to help.”Some 27,000 Alaskans have coverage through the Affordable Care Act marketplace.Share this story:last_img read more

Read More »

Defense secretary highlights Alaska’s strategic military role during Eielson visit

first_imgFederal Government | Interior | MilitaryDefense secretary highlights Alaska’s strategic military role during Eielson visitJune 26, 2018 by Tim Ellis, KUAC-Fairbanks Share:The U.S. military increasingly relies on Alaska, the defense secretary said Monday, both to provide a base of operations to maintaining dominance of the Indian and Pacific oceans to the south and to enable the Coast Guard and Navy to maintain control of U.S. Arctic waters, to the north.Secretary of Defense James N. Mattis speaks with Alaska Senator Dan Sullivan on June 25, 2018 on the Eielson Air Force Base, Alaska, flight line. Mattis and Sullivan held a joint press conference after a visit to Fort Greely, Alaska. (Photo by Airman 1st Class Eric M. Fisher/U.S. Air Force)U.S. Defense Secretary James Mattis spoke at a news conference Monday morning at Eielson Air Force Base, after a tour of the missile-defense facility at Fort Greely.Mattis stopped at Eielson during the first of a five-day trip to Asia, where he’ll meet separately with Chinese, South Korean and Japanese officials.He told reporters at Eielson before resuming his trip that the military sees Alaska as the key to the U.S. military’s policy of maintaining dominance of what he calls the Indo-Pacific region.“It is probably the gateway to the Pacific in many, many ways,” Mattis said.Mattis has just returned from a quick tour of the missile-defense base at Fort Greely.He says the interceptor missiles there constitute the cornerstone of the defense of the homeland – and two adjacent and increasingly important regions.“The interceptors we have up here – I will just tell you ladies and gentlemen that Alaska is in many ways the absolute center of the defense of our country, for the Indo-Pacific region and certainly over the polar ice cap,” Mattis said.The secretary says the Pentagon is challenged to respond to the opening of the Arctic Ocean because of retreating sea ice, which has opened sea lanes and access to resources in the region.Other nations, especially Russia and China, are taking advantage of that, he said, and are increasingly active in the Arctic, which the Pentagon now considers a region of growing strategic importance.“It’s cited as an area of concern with our national-security strategy, as it looks more broadly,” Mattis said. “As a national defense strategy, it looks more specifically how we deal with certain other countries in the world.”Mattis appreciates Congress’s efforts to support construction of six icebreakers, three heavy vessels and three medium, to replace the nation’s two aging heavy icebreakers – one of which has been in drydock in Seattle for eight years now.The U.S. needs more infrastructure to support the new vessels, he said, including a deepwater port on the Bering Sea coast. But Mattis says the nation has a ways to go to acquire the assets needed to protect U.S. interests in the Arctic.“The reality is that we’re going to have to deal with the developing Arctic – and it is developing,” Mattis said. “It’s also going to open not just to transport, but also to energy exploration.”Sen. Dan Sullivan, who accompanied Mattis on his flight to Alaska, says the Senate last week approved a provision in this year’s National Defense Authorization Act to fund construction of the six icebreakers.The senator said he’ll work to keep that provision from being stripped out of the final version that’s now being worked on in a conference committee.Congress has already authorized a federal study on a Western Alaska port to support the new icebreakers.“Two years ago, we did get a provision in there – again, into law – for the Pentagon and the Department of Homeland Security to look at the need and characteristics of what we determined was called a strategic Arctic port,” Sullivan said.Sullivan said in a follow-up interview that the Senate also has authorized a study of further expansion of the missile-defense base at Fort Greely beyond the project now under way that would increase the number of interceptor missiles to 60.“Last year’s bill, we did put in a provision for them to look at a study for a hundred silos there – so that would be total, a total of a hundred,” Sullivan said.Sullivan said those additional interceptors would still be needed even if U.S. negotiators secure an agreement with North Korea to give up its nuclear-tipped intercontinental ballistic missiles, the nation’s defense would still require the additional interceptors.“You still have Iran,” Sullivan said. “You still have other rogue nations.”Sullivan predicts continued expansion of the base at Greely and other missile-defense facilities, including radar sites at Clear and Shemya, and more testing at the Pacific Space Launch Complex in Kodiak.Share this story:last_img read more

Read More »

St. Matthew’s House anticipates growing need for food in summer months

Click here to donate.  RELATEDTOPICS Warehouse to help St. Matthew’s House better serve SWFL residents in need May 11, 2021 AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments Where to get free food in SWFL April 26 – 29 April 26, 2021 Advertisement Where to get free food in SWFL this week June 15, 2021 AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments AdvertisementOrganizers say they would feed about 400 families a month before the pandemic. They are on track to feed over 15,000 families this March. The demand is not expected to stop anytime soon. Summer is when they need the most help. Kids go on summer vacation from school and parents need more help feeding their families. FORT MYERS, Fla.– According to the charity St. Matthew’s House, the need for food is growing every month.On Thursday, they held five food distribution events. That is the most they’ve ever had in a single day. St. Matthew’s House hopes more locations will make the lines shorter. Adding locations will also help people find a more convenient event, close to where they work or live.They say many people stop by on their lunch breaks and don’t have a lot of time to get the food.  Hungry? St. Matthew’s House is giving away food in SWFL today AdvertisementTags: St. Matthew’s House June 3, 2021 Advertisement read more

Read More »

Seminar Pushes for Unification Education

first_img Facebook Twitter By Kim Yong Hun – 2013.09.25 2:58pm RELATED ARTICLESMORE FROM AUTHOR Pence Cartoon: “KOR-US Karaoke” Analysis & Opinion Analysis & Opinion Tracking the “unidentified yellow substance” being dried out near the Yongbyon Nuclear Center SHAREcenter_img AvatarKim Yong Hun Analysis & Opinion Seminar Pushes for Unification Education Is Nuclear Peace with North Korea Possible? As pessimism toward unification soars among young South Koreans, experts have called for greater efforts to strengthen unification education and tackle unification-related conflict within the South.The Korea Policy Research Center is set to hold a seminar this afternoon entitled, “Developing a Plan for Strengthening Unification Capacity.” In the seminar pamphlet, Professor Jo Chol Ho of the Institute of Unification Education wrote, “Only one half of the Korean peninsula was liberated in 1945. The reason why unification with the other half has not yet occurred is due to insufficient unification education.”“Unification education is still plagued by restrictive political neutrality, and the clash between security and peace. Many have highlighted the importance of societal effort, agreements and the use of consistent educational materials,” Jo argued. “There is a need to develop rational material in accordance with universal values. We must also build systemic, political and legal mechanisms to prevent this educational material from the influence of vested interests from either side of the political spectrum.”It was alleged that while positive elements exist in the current curriculum, many areas require an overhaul. “There is the concern that unification education in elementary and middle schools is weakening. In universities it doesn’t exist at all. Moreover, the materials used are criticized as they are are insufficient in preparing students for a post-unification world. There is also a clash between multiculturalism and nationalism. Unification education requires a rich array of information on North Korea, and must coach students in how to approach practical integration issues.”“Rote learning” should also be avoided, and two-way discussion and debate between teachers and students encouraged. “Rather than state-run education, we need to create a system where civilians can take part in a flexible manner.”Professor Jo believes that this move would “strengthen those who support unification and weaken those who oppose it, both domestically and abroad.”Another speaker on the panel, Professor Lee Ji Su of Myongji University, argued “It’s possible to nurture the perceptions of ordinary people through unification education, and it should be provided to all South Koreans. But considering the urgency of the matter, the focus should first be on Korea’s youth, including university students. We need to find a way to link an understanding of North Korea with the future aspirations of the young.” In his opening remarks, Head of the Korea Policy Research Center Yoo Ho Yeol said, “Unification is more than just integrating two territories. Unification will only be complete when the two peoples are integrated. This in turn will only eventuate with the demise of conflict within the South and a burgeoning desire for unification.”Yoo concluded by stating, “Before any move toward Korean integration, we first need to unify our hearts and build up mutual trust to solve the South-South conflict. A plan must be enacted to form the right kind of education, and to strengthen regional capacity for eventual unification.” Analysis & Opinion last_img read more

Read More »

Le fils d’un ancien conseiller éliminé parvient à échapper à un…

first_img Le fils d’un ancien conseiller éliminé parvient à échapper à un r La police française et les responsables del’école dans lequel Han étudiait tentent de le localiser. News Facebook Twitter North Korea tries to accelerate building of walls and fences along border with China Des agents de la Sécurité nord-coréenne enposte dans une ambassade nord-coréenne d’un autre pays d’Europe ont faitirruption au domicile de l’étudiant, lui ont confisqué son passeport et sontéléphone portable, et ont tenté de le conduire à l’aéroport afin de lerapatrier en Corée du Nord selon des sources coréennes locales. By Daily NK – 2014.11.27 10:35am AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] News Un ressortissant nord-coréen poursuivantses études à Paris se cache, selon certaines informations, depuis deux semainesaprès avoir échappé à un rapatriement forcé opéré par des officiels de laSécurité nord-coréenne alors qu’ils se rendaient à l’aéroport. News center_img Ordinary Pyongyang residents have not received government rations since mid-April Si cette tentative de rapatriement forcéest avérée, cela entraînera des problèmes diplomatiques entre les deux pays. Il semble en outre que les agents de la Sécuriténord-coréenne ayant participé à cette tentative proviennent d’un paysfrontalier de la France, ce qui constituera une source de tensionssupplémentaires entre ce pays et Pyongyang. L’étudiant, qui étudiait l’architecture enFrance, au courant de l’exécution de son père et de l’internement des membresde sa famille et de proches en camp de prisonniers politiques, est parvenu àéchapper à ses ravisseurs sur le chemin de l’aéroport. RELATED ARTICLESMORE FROM AUTHOR La France et la Corée du Nord n’ont pas derelations diplomatiques. Cependant, Paris a permis à Pyongyang d’ouvrir unemission et mène des échanges limités avec la Corée du Nord. En 2011, legouvernement français a invité dix étudiants nord-coréens (tous enfantsd’officiels de haut rang), parmi lesquels Han, à étudier dans deux des plusprestigieuses écoles d’architecture : l’École nationale supérieured’Architecture de Paris-La Villette et l’École d’Architecture de Belleville. SHARE L’étudiant, appelé Han, est le fils de l’undes conseillers de Chang Song Taek, éliminé en compagnie d’anciens officiels dehaut rang. Cette tentative de rapatriement semble s’inscrire dans la continuitédes purges menées depuis l’année dernière en Corée du Nord. News Hamhung man arrested for corruption while working at a state-run department storelast_img read more

Read More »

Child malnutrition rate most acute in Ryanggang Province, WFP reports

first_img News Ordinary Pyongyang residents have not received government rations since mid-April North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) North Korea’s Ryanggang Provincehas the highest number of children suffering from malnutrition in the country, reported U.S.-based Voice of America, citing the recently released United Nations World FoodProgramme (WFP) report.The World Food Program conducted the nutrition survey last year for childrenbetween the ages of six months and five years in 85 cities and 8 provincesacross North Korea. Jagang Province was excluded as survey teams weredisallowed from the region on account of its high concentration of militaryfacilities.According to the report, released on June 27, 32 percent of North Koreanchildren residing at child care centers in Ryanggang Province were found to bemalnourished and underdeveloped. This marked the highest rate among theprovinces surveyed for the report. The average percentage of malnutrition for North Korean children under the ageof five is 25.4 percent, according to the World Food Programme. The samepercentage applies to the portion of underdeveloped children at child care centersin North Korea receiving food aid from the World Food Programme. Ryanggang Province also has the highest number of underweight children at12.2 percent. However, South Pyongan Province’s malnutrition rate was 19.8%, 6 percentlower than the average; the rate of underweight children in the southernprovince was also the lowest of those surveyed, standing at 7.5 percent.South Hamgyong Province trailed slightly behind Ryanggpang Province at 27.1percent, North Pyongan Province at 26.3 percent, North Hwanghae Province at25.7 percent, and North Hamgyong Province at 25.5 percent. Kangwon Province, SouthHwanghae Province, and South Pyongan Province came in at relatively lowermalnutrition rates, at 24.4 percent, 22.4 percent and 19.8 percent,respectively.Additionally, daily intake of protein and fat for North Korea’s overallpopulation was reported to range between 70 and 85 percent relative tointernational standards. Those residing in rural areas of North Korea are moreseriously affected than those in more urban areas.In response to these findings, the WFP plans to conduct a nutritionalassistance project for 1.7 million North Koreans across 60 cities and eightprovinces. The two- and-a-half year program is slated to start next month.  Facebook Twitter News News News center_img Child malnutrition rate most acute in Ryanggang Province, WFP reports AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] By Daily NK – 2016.07.03 3:07pm Hamhung man arrested for corruption while working at a state-run department store RELATED ARTICLESMORE FROM AUTHOR SHARElast_img read more

Read More »

FINRA preps for new “best interest” obligations

first_img Keywords Best interest standardCompanies Financial Industry Regulatory Authority Investment firms, dealers face MiFID II review Facebook LinkedIn Twitter law regulations paper flat illustration bakhtiarzein/123RF James Langton FCA seeks consumer duty standards FINRA to focus on retail investors in its reviews this year Related news The U.S. industry self-regulatory organization, the Financial Industry Regulatory Authority (FINRA), will be testing firms’ readiness to adopt new “best interest” standards.In a letter setting out its compliance priorities for the coming year, FINRA said that it will initially focus on firms’ preparedness for the U.S. Securities and Exchange Commission’s (SEC) new best interest rules, known as Reg BI, “to gain an understanding of implementation challenges they face.” After the new requirements kick in by June 30 of this year, FINRA will turn to reviewing firms’ compliance with Reg BI, and related SEC rules and guidance.The SRO’s other priorities for the year include firms’ compliance with their best execution obligations, controls over direct market access, order routing disclosure and cybersecurity.Additionally, FINRA said that it will continue to review compliance in critical areas, such as sales practice risks, insider trading and market manipulation.One new feature of the annual priorities letter is lists of “practical considerations and questions that firms may use” to help firms assess their processes and best practices. Share this article and your comments with peers on social medialast_img read more

Read More »

Air Jamaica/Virgin Atlantic Agreement will Adequately Cover Flights from Mo’bay to London

first_imgAdvertisements Air Jamaica/Virgin Atlantic Agreement will Adequately Cover Flights from Mo’bay to London UncategorizedJune 6, 2007 RelatedAir Jamaica/Virgin Atlantic Agreement will Adequately Cover Flights from Mo’bay to London FacebookTwitterWhatsAppEmail Minister of Finance and Planning, Dr. Omar Davies has expressed confidence that the code share agreement between Air Jamaica and Virgin Atlantic will adequately cover flight needs from Montego Bay to London.“Under the code share agreement, Virgin Atlantic will operate four round trips per week from London Gatwick beginning October 30, with two flights each week to Kingston in addition to the current two flights to Montego Bay,” he explained.Dr. Davies who was speaking in the House of Representative yesterday (June 5) further assured that Air Jamaica will ensure that daily flights will be made available to provide air links from London to Montego Bay, or from London to Kingston. “Regardless of which day, you can book from London to either Kingston or Montego Bay,” he said.He also told the House that the Government will be encouraging existing carriers to add more flights if the demand exists following Air Jamaica’s withdrawal from its London route in October.Meanwhile, Opposition Spokesperson on Finance, Audley Shaw noted that because of British Airways’ willingness to put in two new flights per week to Montego Bay, which would have meant some 560 additional seats, instead of the two new direct flights from Virgin Atlantic to Kingston, which requires transfers to Montego Bay from Kingston, British Airways would have been the better choice.Dr. Davies argued however that there were other factors influencing the decision to enter into the code share agreement with Virgin Atlantic.center_img RelatedAir Jamaica/Virgin Atlantic Agreement will Adequately Cover Flights from Mo’bay to London RelatedAir Jamaica/Virgin Atlantic Agreement will Adequately Cover Flights from Mo’bay to Londonlast_img read more

Read More »