Telefonica talks up the positives after mixed Q1

first_img Telefonica saw its Q1 figures negatively impacted by foreign exchange issues around its Latin American operations, but talked up positive indicators for its business.Jose Maria Alvarez-Pallete, newly-installed executive chairman of Telefonica, said that “in a context of intense technological disruption and transformation, our first quarter results reflected a strengthening of the business across the board and of the capacity of our platforms which is enabling us to reach more customers with higher value products and services”.A particular highlight for the company was a return to OIBDA growth in Spain, meaning it saw growth at this level across all operating businesses.But the company made little reference to its planned sale of its UK business to CK Hutchison, against a growing expectation that European regulators may move to block the deal. It did note positives from the operation including cash flow growth resulting from OIBDA improvements.On a group level, the company reported a profit for the period of €776 million, down from €1.8 billion last year, on revenue of €10.78 billion, down 6.6 per cent.It said that last year the bottom line benefitted from a “non-recurrent positive financial impact” related to the ongoing O2 UK sales process: excluding this, net profit for the quarter rose by 26 per cent.On an operating level (OIBDA), this year’s €3.38 billion was down 6.7 per cent year-on-year, which was attributed to currency rate changes related to Telefonica’s Latin America operations. On an organic basis, OIBDA increased by 5.5 per cent.On an organic basis, revenue increased by 3.4 per cent. Again, the reported number was impacted by foreign exchange issues.Telefonica ended the period with 246.85 million mobile connections, down 2.3 per cent year-on-year, with drops in the prepaid base partially offset by growth in more lucrative contract subscribers.Its LTE customer base (35.6 million) represented 15 percent of the total connections, up 9 points.Mobile data revenue grew 19.9 per cent year-on-year on an organic basis, to represent 48 per cent of mobile service revenue, which was attributed to higher smartphone penetration and growing LTE take-up. Telefonica Related Author Home Telefonica talks up the positives after mixed Q1 Tags Telefónica refuerza la seguridad de las cadenas de bloques Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more center_img Steve Costello Telefonica bolsters blockchain security Luz verde a la fusión entre Telefónica y Liberty Global en el Reino Unido Previous ArticleTelenor’s CFO, general counsel resign over VimpelCom caseNext ArticleRising costs squeeze China Telecom’s Q1 profit Español AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 29 APR 2016 last_img read more

Read More »

How to Get Beyond Our Tribal Politics

first_imgThe Wall Street Journal:The most-watched made-for-TV movie in American history is “The Day After,” a 1983 portrayal of life in Kansas and Missouri in the days just before and after an all-out nuclear war with the Soviet Union. If you’ve had even fleeting thoughts that Tuesday’s election could bring about the end of the world or the destruction of the country, you might want to find “The Day After” on YouTube, scroll to minute 53 and watch the next six minutes. Now that’s an apocalypse.…We think that it is. After all, civility doesn’t require consensus or the suspension of criticism. It is simply the ability to disagree productively with others while respecting their sincerity and decency. That can be hard to do when emotions run so high. But if we understand better the psychological causes of our current animosity, we can all take some simple steps to turn it down, free ourselves from hatred and make the next four years better for ourselves and the country. Three time-honored quotations can serve as guides.…Mrs. Clinton began with weak praise by saying that she respects Mr. Trump’s children. But then she made it strong and generous by noting how “incredibly able” those children are and how devoted they are to their father, adding, “I think that says a lot about Donald.” Mr. Trump responded in kind: “I will say this about Hillary. She doesn’t quit, and she doesn’t give up. I respect that.”That brief exchange was emotionally powerful—the only uplifting moment of the night for many viewers. Had it been the opening exchange, might the debate have been more elevated, more constructive?This has been a frightening year for many Americans. Questions about the durability, legitimacy and wisdom of our democracy have been raised, both here and abroad. But the true test of our democracy—and our love of country—will come on the day after the election. Starting next Wednesday, each of us must decide what kind of person we want to be and what kind of relationship we want to have with our politically estranged cousins.Read the whole story: The Wall Street Journallast_img read more

Read More »

Ship Finance International Sells Two VLCCs

first_imgShip Finance International Limited, today announced that it has agreed to sell the 1998 and 1999 built VLCCs Front Champion and Golden Victory to unrelated third parties. The Company has simultaneously agreed to terminate the corresponding charter parties with a subsidiary of Frontline Ltd.The vessels are expected to be delivered to the new owners in November 2013 and Ship Finance expects to receive cash proceeds of approximately $43 million, including approximately $11 million upfront payment from Frontline. In addition, we will receive approximately $79 million in 7.5% amortizing notes from Frontline.The amortization profile and maturity of the notes will match the current charters for the two vessels, with reduced rates until 2015 and full rates from 2016. Front Champion and Golden Victory were acquired in 2005 with the highest charter rates across the vessels on charter to Frontline, and the level of compensation payments for early termination is a reflection of this.While the spot VLCC market has currently shown some signs of recovery, there is still a fundamental oversupply in the market, and the retirement of older vessels will contribute to a balancing of the market going forward. The decision to phase out Front Champion and Golden Victory has been made on the basis of individual assessments of the vessels and the costs of taking them through expensive drydockings later this year.Divesting of older vessels is a part of the Company’s strategy to renew and diversify the fleet. The majority of our charter revenues are currently sourced from the offshore segment, and in the second quarter of 2013, the adjusted EBITDA from the vessels on charter to Frontline was limited to only 18% of the total. Following this sale, the number of vessels on charter to Frontline will be reduced to 20 vessels, including 15 VLCCs and five Suezmax crude oil carriers.SFL, November 7, 2013last_img read more

Read More »

Players, fans urge BCCI to retire MS Dhoni’s No. 7 jersey

first_img IN FIVE EASY PIECES WITH TAKE 5 New Delhi – Players and fans Sunday urged India’s cricket board to retire Mahendra Singh Dhoni’s No. 7 jersey in a tribute to the two-time World Cup winning captain.Dhoni, 39, called time on his 16-year-old international career Saturday with a cryptic message on his Instagram post that read “From 1929hrs consider me as retired.” KEYWORDS RELATED PHOTOS India’s Mahendra Singh Dhoni plays a shot against Australia during a one day international on Sept. 17, 2017, in Chennai, India. | REUTERScenter_img Mahendra Singh Dhoni, Board of Control for Cricket in India GET THE BEST OF THE JAPAN TIMES The Board of Control for Cricket in India confirmed the news in a statement, saying: “The boy from Ranchi, who made his ODI debut in 2004, changed the face of Indian cricket with his calm demeanour, sharp understanding of the game and astute leadership qualities.”Dhoni’s legions of fans including 7.8 million Twitter followers and former teammate Dinesh Karthik said they did not want to see 7 on the back of any other Indian cricketer’s jersey.“I hope the @bcci retire the #7 jersey in white ball cricket Good luck with your second innings in life, I’m sure you’ll have a lot of surprises for us there too,” Karthik, a wicketkeeper-batsman, tweeted.Former batsman Mohammad Kaif agreed, writing on Twitter: “Can’t imagine any one else wearing a Number 7 India jersey again.”There is no provision to retire jerseys in cricket, unlike in soccer.But the BCCI unofficially retired batting great Sachin Tendulkar’s No. 10 shirt a few years after his retirement.Dhoni, a flamboyant wicketkeeper-batsman who led India to win the inaugural Twenty20 World Cup in 2007 and lifted the 50-over showpiece event in 2011, was born on July 7.He is a self-confessed fan of Portuguese football megastar Cristiano Ronaldo, who also wears a famous No. 7 jersey.“@BCCI should retire “Jersey Number 7″ as a Tribute to Legend MS Dhoni,” a fan wrote on Twitter.Another fan urged social media users to start trending “#RetireJersey7” as “Jersey number 7 was not just a number but an emotion the country is going to miss.”Dhoni, dubbed ‘Captain Cool’ because of his unflappable style, will continue to lead his team Chennai Super Kings in the Indian Premier League starting in the United Arab Emirates next month.Dhoni quit tests in 2014 and has not played for the national side since India’s World Cup semifinal loss against New Zealand in England last year — his 350th one-day international.Cricketers from across the globe and Indian media paid tribute to the glittering career of Dhoni, who was fondly called ‘Mahi’ by his teammates.The Times of India newspaper splashed across its front page: “The end of an era: Dhoni calls it a day, Mahi way.”“Welcome to the retirement club, MSD! What a magical career!,” former England batsman Kevin Pietersen tweeted.Australian opener David Warner wrote: “Congrats @msdhoni on a fantastic career, he is one of the coolest guys I’ve played against on the park.”“One of the true legends of Indian cricket and one of the greatest captains, congratulations on a great career MS Dhoni! All the best for your future,” former Pakistan skipper Shahid Afridi added on social media. last_img read more

Read More »

INSIDE AFCON 2019: Rohr Calls Nigeria Underdogs Ahead of Cameroon Clash (AUDIO)

first_imgALEXANDRIA – Nigeria’s loss to Madagascar in the group stage of the 2019 Africa Cup of Nations means the Super Eagles go into Saturday’s Round of 16 encounter against defending champions and bitter rivals Cameroon as underdogs according to Nigeria’s head coach Gernot Rohr.The Super Eagles and the Indomitable Lions will renew their storied and long-running rivalry at the Cup of Nations for the first time in nineteen years at the Alexandria Stadium tomorrow as they jostle for a place in the quarter-finals.And while Nigeria were 2-1 winners in their quarter-final clash in 2004 when Cameroon were defending champions as they are now, Rohr said, while speaking at the pre-match conference ahead of the match, that the loss to Madagascar might have taught his players “humility” but Cameroon who are unbeaten and are yet to concede in the tournament must be viewed as favourites.Download audio“The positive thing about the loss to Madagascar is that it’s a lesson in humility because sometimes it’s very good for everybody to have it. For the player, for the staff, for the officials, for the fans. And also, I think after this match [against Madagascar], we are not really the favorites for the match of tomorrow.”Notwithstanding Nigeria’s less than ideal end to the group stage, Rohr said the five-day gap before the clash against the Indomitable Lions means his side has been able to fully research tomorrow’s opponents with the players.And with the players fully rested and perfectly prepared, Rohr says his players must show “fighting spirit” and must use tomorrow’s encounter to “make Nigerians proud” and show against Cameroon that the loss to Madagascar was “an accident”.Download audio“It’s a great football match for us and for everybody and we are happy to be qualified for the second round, and of course Cameroon are one of the best sides in this AFCON and it could be a final but its already a match of Round of 16 and we are preparing it very well,” Rohr said.“We had the time this week to recover very well, to have good training sessions and also to hold some good meetings with the players and to see how this good Cameroon team are playing.“Now the moment is come tomorrow to show Nigerians that the last match was an accident and our team hasn’t lost its football and it’s a very exciting game all the players must be happy to play such a game.“I told them yesterday that they should be happy to play this match for us and they have to enjoy playing these great matches. I want to see fun, fighting spirit because now a new tournament is beginning and each match is so important that I’m sure we will give all that we can give make Nigeria proud.”Relatedlast_img read more

Read More »