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Hard Brexit risks ‘manageable’ says Irish central bank official

first_img The risks of a “cliff edge” Brexit to the stability of the Irish financial system are manageable and the majority of its “most significant” firms are already executing contingency plans, the Central Bank of Ireland deputy governor Ed Sibley said today.Sibley said: “I am satisfied that from a financial stability perspective the most material and immediate risks are now manageable. This is not to say that a hard Brexit will not be bumpy for the economy, and for the financial system. Indeed, some level of market disruption would be inevitable.” whatsapp Share whatsapp Read This NextIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamourTop 5 Tips If You’re Losing Your EyebrowsVegamour20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The WrapWhat Causes Hair Loss? Every Trigger ExplainedVegamourJim Cramer Calls for Billionaire Tax: ‘This Society Has to Start AddressingThe Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Drake & Josh’ Star Drake Bell Pleads Guilty to Attempted ChildThe WrapSmoking and Hair Loss: Are They Connected?VegamourThis Is How Often You Should Cut Your HairVegamour Read more: Theresa May to put Brexit ‘Plan B’ before parliament on 29 January“The Irish banking system is considerably more resilient than it was, and the most significant firms operating in Ireland across all sectors have, in line with our requirements, prepared and are executing contingency plans for a hard Brexit,” he added.Brexit is scheduled for 29 March but following the heavy defeat of UK Prime Minister Theresa May’s Brexit plan in a parliamentary vote this week it is not clear what form it will take.May has now offered to talk to rival party leaders to agree on an approach to Brexit that will gain the support of the Commons.Labour leader Jeremy Corbyn said he would only talk to May if she ruled out hard Brexit as an option, something her spokesperson said she had refused to do. James Booth center_img Hard Brexit risks ‘manageable’ says Irish central bank official Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoFinance Wealth PostTom Selleck’s Daughter Is Probably The Prettiest Woman To Ever ExistFinance Wealth PostUndoTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyUndobonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comUndo Tags: Brexit Jeremy Corbyn People Theresa May Thursday 17 January 2019 1:48 pmlast_img read more

Pets at Home’s groom rooms help retailer’s profits jump to £40m

first_imgThursday 4 December 2014 8:52 pm Kasmira Jefford Pets at Home’s groom rooms help retailer’s profits jump to £40m whatsapp  Doting pet lovers spoiling their pooches and cats helped Pets at Home deliver a 10.2 per cent jump in sales to  £381.5m in the six months to October. The retailer, which provides pet food, accessories and veterinary services from around 400 outlets, has doubled its profits to £40.5m from £21.3m in the first half of last year thanks to owners spending more on their pets.  The pet care market has grown by almost £1bn in the past five years and is now worth an eye-watering £6bn, according to a recent study conducted by the firm, with grooming and insurance making up half of the market.  “Pet-lovers are treating their pets as they would themselves, whether that’s through an improved diet or treating them to a visit to a groomer,” chief executive Nick Wood said.  During the period, Pets at Home op­ened 23 Groom Rooms – salons where pets can receive treatments such as a bath and a blow dry – bringing the total portfolio to 152. Another 600,000 members signed up to its VIP club, a loyalty scheme for pampered pets, taking its members to 2.6m.  These services, together with its growing vet practices and its Advan­ced Nutrition pet food helped to boost like-for-like sales by 4.2 per cent in the period, the company said.  “We end the first half in a strong financial position, the business remains very cash generative and we are pleased to announce our first dividend payment,” Wood said. It announced a dividend of 1.8p per share, its first since floating on the London Stock Exchange earlier this year. Shares yesterday edged down last night to 201p. HOW THE PETS RETAILER IS BARKING UP THE RIGHT TREE BY CATERING TO PAMPERED POOCHES Pets at Home’s 152 groom rooms are a blur of bright green, pink and blue equipped with raised tables, hair dryers, nail clippers, soap buckers and sponges.  Tucked away at the back of the stores, these grooming parlours offer VIP treatments for dogs, from a traditional bath and dry to a £15 pawdicure – a pedicure for dogs that includes a “fragrant spray and a paw pad wax to keep them strutting happy”. A full groom, which includes a warm bath, hair styling and ear cleaning, can keep pet groomers busy for a good two and a half hours and costs between £20 to £80, depending on the size of the dog. Pay £8 extra and pets are treated to luxury shampoo, a teeth clean and a “natural breath freshening foam”.  Even cats can come to the parlours and get a lion trim and shave for £67. What’s not to love?  Show Comments ▼ whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHealthyTed Health Magazine10 Surprising Benefits of Bananas You Possibly Didn’t Know AboutHealthyTed Health MagazineUndoAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsUndoNext RefinanceThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryNext RefinanceUndoTaonga: The Island FarmAdvertisement The Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoUnify Health LabsRandy Jackson: I Did This Everyday To Improve My Health (Here’s My Routine)Unify Health LabsUndoHomeLight.comDon’t Make This Mistake When You Sell Your Home. Try these 7 websites.HomeLight.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoAll Things Auto | Search AdsNew Acura’s Finally On SaleAll Things Auto | Search AdsUndoGundry MDTop Doc: Simple “Trick” To Help Fight FatigueGundry MDUndo Tags: Company Pets At Home Group Sharelast_img read more

Individual innovation leaves collective farms in the dust

first_img By Choi Song Min – 2015.06.08 3:00pm NewsEconomy Facebook Twitter Despite vowing to make this year one of‘abundant harvests’ as North Korea marks its 70th anniversary of the Workers’ Partyfoundation, the country is facing stumbling blocks in living up to thatpromise. Full mobilization calls of workers and soldiers for agriculturalassistance have failed to draw out greater work capacity from purported‘volunteers’, but sources report a very different picture when it comes toplots allocated to individuals.“On collective farms, where all residentshave been fully mobilized, rice planting, and sowing of corn and potatoes arein full swing,” a source in South Pyongan Province told Daily NK on June 4th.“But those who have been mobilized are working half-halfheartedly, and there areno measures in place against threats of drought, so other than rice paddies,most crops are drying out.” Sources in two other provinces of North Korea reported the same trends, but for their safety Daily NK may not release their locations.She added that as those adhering to thestate’s full-mobilization order are far from diligent about their work and “just trying to get by.” Young students are reportedly working from thewee hours to transport buckets of water to the rice paddies but the overallefforts are far from sufficient to overcome the dry spell wreaking havoc on thecrops. “Most ‘volunteers’ play games or sit in theshade, having a few drinks, when the farm managers are not around,” said thesource. This behavior earns the ire of managers, who threaten to pull mealprovisions for workers or refusing to accept volunteers altogether as a result.However, this is all in stark contrast toindividual plots, the source reported. “On these individual plots, people areusing plastic covers and protecting their crops from drought–a popular methodemployed by most with these swathes of land,” she said. “In each furrow onprivate plots, people have put down plastic with holes in them, which facilitates moisture preservation and reduces the need for weeding.” People are connecting plastic strips thatare roughly 40cm in width to place down in the furrows. Holes are made every35cm and seeds are planted within. The plastic not only helps contain moisture in theground but also raises the ground temperature. This, in turn, improvesthe growth of vegetables and corn, according to the source. While collective farm output lags under“Juche farming,” where problems like equipment shortages are endemic, individual plots teem withactivity, thriving on innovative methods devised by its tenders. “At theend of the day, farming is more effective when there’s a landowner, and peoplegenerally believe now that collective farms aren’t going to yield a goodharvest,” she concluded. News RELATED ARTICLESMORE FROM AUTHOR North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) Proposal to shift “general markets” to “specialized markets” finds little support among N. Korean leaderscenter_img US dollar and Chinese reminbi plummet against North Korean won once again Individual innovation leaves collective farms in the dust SHARE News AvatarChoi Song Min News last_img read more

AGF board member steps down

Facebook LinkedIn Twitter Share this article and your comments with peers on social media Companies AGF Management Ltd. Currently, Ihnatowycz is president and CEO of First Generation Capital Inc., a private investment holding company. He also sits on the boards of Zymeworks Inc. Myca Health Inc. and the Royal Conservatory of Music. Ihnatowycz will officially step down from his role on the board of directors on May 7, 2013. Ian Ihnatowycz will step down as a board director for Toronto-based AGF Management Ltd. (AGF) in early May, the company announced on Wednesday. Ihnatowycz first became a board member two years ago after AGF purchased Acuity Investment Management Inc. and Acuity Funds Ltd., of which he was president and chief executive officer. IE Staff

Collaboration Necessary in Competition for Tax Dollar – Keene

first_imgRelatedCollaboration Necessary in Competition for Tax Dollar – Keene FacebookTwitterWhatsAppEmail Director General of Tax Administration, Vinette Keene has emphasised that the intense competition for the tax dollar in the global economy, will require the collaborative effort of the managerial and technical teams of tax administration bodies to conquer this competition.Mrs. Keene was delivering the main address on (Sept. 24), at the opening of the Commonwealth Association of Tax Administration (CATA) Commonwealth Management Development Programme (CMDP) 2007, which is being hosted at the Jamaica Conference Centre in downtown Kingston. She stressed that the complementary nature of the management and technical staff must not be overlooked, as it was through the collaborative effort of both groups, that tax administration organisations were able to achieve their objectives, with collection of revenues being the ultimate result. The Director General noted that perhaps the most important element of building both managerial and technical capacity, was heavy investment in training, and therefore, training has been placed high on the priorities of the administrative initiatives, aimed at maximizing efficiency and effectiveness for greater productivity. “I have no doubt that jurisdictions from which our other participants come, will share similar objectives, as administrations require more as society demands more,” she said.“The principles of effective people management will be imparted through the course content.people management is what management and leadership is all about, the ability to manage and lead people, so that they will deliver the performance that the organization requires to reach its goals and objectives,” Mrs. Keene said.“It is said that improving productivity in organizations must begin with changing the way we train and motivate our leaders, managers and employees to think and act, and so training such as this is imperative in the success of learning organizations,” she stated. Continuing, Mrs. Keene pointed out that the development of top quality team members was part of the strategy, therefore, by implementing the ideas and techniques learnt in this course, participants could ensure that their organisations achieve their goals and objectives. She said it was expected that at the end of the training initiative, “all participants will return to their various administrations and actively impart the techniques you have learnt to benefit your country.” “This programme will see the diversity of the Commonwealth manifest itself in the sharing of experiences, expressions of different views and approaches, as we build our expertise in the area of tax administration from a global perspective,” she added. The Director General noted that mastery of the management of audit and compliance administration to include the taxation of multi-nationals are some pertinent issues that would come to the fore, as “bridging of the fiscal gap is critical at this time.”“A global consensus is emerging, that tax governance and capacity building must incorporate a more holistic approach that focuses on comprehensively integrating checks and balances, preventive measures and internal controls to manage the administering of taxes to maintain equity. Working together in this international spirit can only develop more effective and efficient systems, as we aim to achieve the single purpose of strengthening the managerial and technical capacity,” she said.The CMDP is a six-week programme designed for senior tax officials from the Commonwealth and consists of two modules. The first module, which will take place over four weeks, will cover tax administration and will be led by facilitators from Australia’s taxation office. The main objective of this module is to develop the skills, confidence and willingness to implement current management and tax administration practices and techniques in the respective departments of the participants. Meanwhile, the second module will concentrate on the improvement of compliance enforcement using the New Zealand system as a model.The course aims to, among other things: extend participants’ management and perspective skills; enable participants to review and revisit their management practices; develop participants’ confidence to enable them to apply new skills to the workplace; challenge participants current thinking and practices; examine trends in the Commonwealth tax administrations; share and examine different and best practices in certain areas of tax administration.The CMDP 2007 participants are drawn from Jamaica, Ghana, Grenada, Malawi, Namibia, St. Lucia, Swaziland and Uganda. RelatedCollaboration Necessary in Competition for Tax Dollar – Keene Collaboration Necessary in Competition for Tax Dollar – Keene UncategorizedSeptember 24, 2007center_img RelatedCollaboration Necessary in Competition for Tax Dollar – Keene Advertisementslast_img read more

Bringing together sports and sustainability

first_img Published: July 9, 2018 Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Folsom Field, home to the zero-waste Ralphie’s Green Stampede initiative.With participation from CU Boulder and other institutions, the Pac-12 Conference is the first collegiate sports conference to convene a high-level symposium entirely on integrating sustainability into college athletics and across campuses.The Pac-12 will again hold its symposium on the CU Boulder campus, this year July 11–12.Join the event for discussions and insights on driving high-level athletic sustainability forward. Featured speakers will include Olympians Arielle Gold and Mary Harvey, current and former NBA players and leaders from the NCAA.Full Details & Registration InformationCategories:ConferencesSustainabilityEvents & Exhibitslast_img read more

Reading Body Language

first_imgReddIt AdvertisementI found an interesting article from Entrepreneur online this week. Written by Travis Bradberry, the article discusses how we learn more through body language than we can through what people tell us verbally. There is lots of useful information for all of us who have any dealings with people. For instance, according to research conducted through UCLA “… only 7% of communication is based on the words we say. 38% comes from tone of voice and the remaining 55% comes from body language.”Here are some of the things that you should be looking for when you are interacting with guests, co-workers, friends, and family.Crossed Arms & Legs: Suggest the person is resistant to your ideas. Psychologically, crossed legs or arms signal that the person is emotionally or physically blocked from what is in front of them. According the researchers this is not intentional, which is why it is so revealing.Look for Genuine Smiles: A genuine smile reaches the eyes and causes the skin around the eyes to crinkle. If those crinkles aren’t there, the person may just be being polite, but not really engaged or agreeing.Eye Contact: Too little eye contact can mean that you have lost people’s interest. If they are busy looking around when you are talking, you may be giving them too much information and they are getting bored. If so ask them a question.On the other hand, because many of us were told to look our parents in the eye when we were young (they told us they could tell when we were lying), people may hold eye contact longer than it is comfortable in an attempt to cover up the fact that they are not being completely honest with you.When you are interacting with people (especially customers), hone your observation skills and look for signals that might mean that they are uncomfortable, bored or otherwise disengaged. It may be time to ask questions and let them talk for a while to get a better idea of how the interaction is going.A tip of the glass from me to youE Columnby Elizabeth “E” Slater, In Short Direct MarketingA recognized expert in the fields of direct marketing and sales in the wine marketplace. Slater has taught more wineries and winery associations how to create and improve the effectiveness of their direct marketing programs and to make the most of each customer’s potential than anyone in the wine industry today.Follow E on twitter @esavant and facebook.Advertisement Share TAGSE ColumnElizabeth SlaterIn Short Direct Marketing Home Wine Business Editorial E Column Reading Body LanguageWine Business EditorialE ColumnReading Body LanguageBy Elizabeth Slater – May 22, 2019 149 0 Previous articleAlpha Omega Collective Tasting Room Opens in Downtown NapaNext articleA Strategic Event Management Study of California Wineries Elizabeth Slater Email Pinterest Twitter Facebook Linkedinlast_img read more

Monty Alexander to perform at Reggae Jazz fusion in Florida

first_imgMonty Alexander to perform at Reggae Jazz fusion in Florida CultureMay 16, 2011 FacebookTwitterWhatsAppEmail MIAMI — Renowned Jamaican jazz musician, Monty Alexander, C.D., will be special guest at the celebration of Reggae Jazz Fusion, to be held on Sunday, May 22, at the Broward Centre for the Performing Arts (BCPA), in Fort Lauderdale, Florida. Under the patronage of the Consul General, Sandra Grant Griffiths, the special performance will also celebrate the 50th anniversary of the piano virtuoso, as the BCPA continues its 20th anniversary celebrations, showcasing a series of year-round events, which began last September. Patrons will enjoy a night of musical entertainment of reggae and jazz, as Mr. Alexander will share the stage with other Jamaican musical giants, reggae artiste, Maxi Priest, songwriter and accomplished artiste, A.J. Brown, and jazz performer, Cecil Grey. Mr. Alexander’s outstanding career spans five decades of exceptional musical talent and showmanship, performing on world stages with such greats as Frank Sinatra, Tony Bennett, Dizzy Gillespie, Quincy Jones, Ernest Ranglin, Bill Cosby, Sly Dunbar and Robbie Shakespeare, among others.  With an extensive repertoire of 60 albums ranging from classical jazz to reggae, the audience should  enjoy Mr. Alexander’s musical offering, which has earned him a place in the top five in Hal Leonard’s book titled: ‘The Fifty Greatest Jazz Piano Players of all Time’. Mr. Alexander was awarded the Order of Distinction (Commander class) for outstanding services as a worldwide music ambassador, in 2000. The Consul General said she is delighted to welcome the musical giant to the South Florida stage, stating that Reggae Jazz Fusion is a timely offering by the organisers, Riddims Marketing, “to titillate the discerning palate of South Florida society, a diverse Caribbean-Latin American gateway that readily embraces quality performances in exciting genres that reflect the community’s cosmopolitan nature.”                          Meanwhile, Vice President of External Affairs, BCPA, Jan Goodheart, said the Centre is pleased to showcase Jamaica’s outstanding talents as part of the 20th anniversary celebrations of this prestigious institution. Over the years, the BCPA has forged an alliance with the Consulate General of Jamaica, resulting in a range of successful performances, including the National Dance Theatre Company of Jamaica (NDTC),  Reggae Symphony as well as the Centre’s Art Inspire musical education programme, featuring Jamaican percussionist, William ‘Willie’ Stewart, former drummer of Third World Band. RelatedMonty Alexander to perform at Reggae Jazz fusion in Florida RelatedMonty Alexander to perform at Reggae Jazz fusion in Florida Advertisements By CHERYL WYNTER, JIS INFORMATION ATTACHÉ                     RelatedMonty Alexander to perform at Reggae Jazz fusion in Floridalast_img read more

Trump says he will renew effort to end DACA protections

first_imgHomeNewsEducationTrump says he will renew effort to end DACA protections Jun. 20, 2020 at 5:00 amEducationGovernmentPoliticsStudentsTrump says he will renew effort to end DACA protectionsAssociated Press12 months agoDACAtrump ASTRID GALVAN and DEB RIECHMANNAssociated PressUndeterred by this week’s Supreme Court ruling, President Donald Trump said Friday he will renew his effort to end legal protections for hundreds of thousands of immigrants brought to the United States as children.Trump denounced the high court’s ruling that the administration improperly ended the Deferred Action for Childhood Arrivals program in 2017. Splitting with Trump and judicial conservatives, Chief Justice John Roberts joined the four liberal justices in the 5-4 vote Thursday.Through executive action, Trump could still take away the ability for 650,000 young immigrants to live and work legally in the United States. But with no legislative answer in Congress in sight, uncertainty continues for many immigrants who know of no other home except America.In a tweet Friday morning, Trump said, “The Supreme Court asked us to resubmit on DACA, nothing was lost or won. They “punted”, much like in a football game (where hopefully they would stand for our great American Flag). We will be submitting enhanced papers shortly.”Ken Cuccinelli, acting head of U.S. Citizenship and Immigration Services, said Friday that the administration was starting over. “We’re going to move as quickly as we can to put options in front of the president,” but those are executive branch options, he told “Fox & Friends.”“That still leaves open the appropriate solution which the Supreme Court mentioned and that is that Congress step up to the plate,” he said.Cuccinelli said Sen. Dick Durbin, D-Ill., made some positive comments in that direction on Thursday so the administration thinks it’s possible for a constructive conversation with Congress. But experts say there isn’t enough time to knock down the 8-year-old program before the November election and doubt the government would try because DACA is popular with voters.Trump’s tweet on Friday was less confrontational than the one on Thursday when he slammed the high court ruling. “These horrible & politically charged decisions coming out of the Supreme Court are shotgun blasts into the face of people that are proud to call themselves Republicans or Conservatives.” He apparently was referring to DACA and an earlier ruling this week where the court said it’s illegal to fire people because they are gay or transgender.Activists are vowing to keep fighting for a long-term solution for young immigrants whose parents brought them to the United States when they were children. They not only face a White House that’s prioritized immigration restrictions but a divided Congress that is not expected to pass legislation giving them a path to citizenship anytime soon.The court decision still elicited surprise, joy and some apprehension from immigrants and advocates who know it’s only a temporary solution.“This is a huge victory for us,” Diana Rodriguez, a 22-year-old DACA recipient, said through tears.Rodriguez, who works with the New York Immigration Coalition, said she hasn’t been to Mexico since she was brought to the U.S. at age 2. The ruling means young immigrants can keep working, providing for their families and making “a difference in this country,” she said.But the work isn’t over, Rodriguez said: “We can’t stop right now, we have to continue fighting.”Congressional Democrats, meanwhile, appeared satisfied to let the court’s decision stand as the law of the land for now.While Republicans protested that now, if ever, was the time for Congress to clarify the immigration system, House Speaker Nancy Pelosi made it clear that Democrats were done with their legislation before the summer break and had little interest in meeting GOP demands to fund Trump’s long-promised border wall as part of any comprehensive immigration overhaul.“There isn’t anybody in the immigration community that wants us to trade a wall for immigration,” she said.Pelosi was reminded that Trump has said he wants immigration reform. “We’ll see,” she said, noting how few days remain on the legislative calendar. “I don’t know what the president meant — maybe he doesn’t either.”Democratic presidential contender Joe Biden said that if elected, he would send lawmakers proposed legislation on his first day in office to make DACA protections permanent.The program grew out of an impasse over a comprehensive immigration bill between Congress and the Obama administration in 2012. Under intense pressure from young activists, President Barack Obama decided to formally protect people from deportation and allow them to work legally in the U.S.Immigrants who are part of DACA will keep those protections, but there are tens of thousands of others who could have enrolled if Trump didn’t halt the program three years ago.The Migration Policy Institute, a nonpartisan think tank, estimates that about 66,000 young immigrants meet the age requirement to join the program — 15 — but haven’t been able to do so because the government has only been renewing two-year permits for those already enrolled.The Coalition for Humane Immigrant Rights has filed a DACA application for a person who’s not part of the program already, legal services director Luis Perez said, though U.S. Citizenship and Immigration Services hasn’t signaled whether it will accept any.“The circuit courts have already told USCIS you must accept renewals. Now that there’s been a Supreme Court decision, really the instructions are gonna be you need to bring back the program in full effect,” Perez said.It’s unlikely the Trump administration will take new applications without being forced by the courts.USCIS deputy director for policy Joseph Edlow said in a statement that the court’s opinion “has no basis in law and merely delays the president’s lawful ability to end the illegal Deferred Action for Childhood Arrivals amnesty program.”And so the ups and downs continue, many coming from Trump himself. During the 2016 campaign, he vowed to repeal DACA. After his election, he softened his stance, saying at one point that DACA recipients had nothing to worry about. But under pressure from hard-liners, he announced in 2017 that he was ending the program.Reyna Montoya, a DACA recipient from the Phoenix area who leads an immigrant rights advocacy organization, said she and others will keep pushing Congress.“At this moment, the Senate needs to act, needs to come up with a proposal that will give us a path to citizenship,” Montoya said.Associated Press reporters Lisa Mascaro in Washington and Deepti Hajela in New York contributed to this report. Galvan reported from Phoenix.Tags :DACAtrumpshare on Facebookshare on Twitteradd a commentLaughing Matters – Saying Goodbye to FriendsSanta Monica celebrates JuneteenthYou Might Also LikeFeaturedGovernmentNewsMcKeown announces retirementBrennon Dixson2 weeks agoFeaturedNewsPoliticsGOP seeks unity, even if that means embracing election lieGuest Author1 month agoNewsPoliticsIn GOP stronghold, Biden pushes for his infrastructure planGuest Author1 month agoEntertainmentLifeNoteworthyNoteworthy – DISTANCE, MASK — MUSIC!!Charles Andrews1 month agoFeaturedNewsPoliticsU.S. Senator Alex Padilla endorses Rick Chavez Zbur for AD50 seatClara Harter1 month agoNewsFacebook board’s Trump decision could have wider impactsAssociated Press1 month agolast_img read more

Vodafone targets €1.2B in cost cuts after H1 loss

first_img Vodafone Group unveiled a strategy CEO Nick Read (pictured) said would radically simplify the company by improving asset utilisation and slashing operating costs, after slipping into the red during its fiscal H1.The operator said a €7.8 billion loss in the six months to end-September included a €3.4 billion dip from stripping Vodafone India out of its figures, following a merger of the unit with Idea Cellular. It also recorded €3.5 billion worth of write-downs at its India unit, along with Spain and Romania, and was hit by tax charges in Spain, negative foreign exchange movements and changes in accountancy standards.In the same period of 2017 it made a profit of €1.2 billion.Group revenue in fiscal H1 2018 of €21.8 billion was down 5.5 per cent year-on-year.Business reviewAs part of a wider business reorganisation the operator is set to create a venture called virtual TowerCo to manage its 58,000 European towers in a bid to increase usage the infrastructure.Adoption of digital technologies for customer care and acquisition and “simplified” tariffs will be central to a bid to trim €1.2 billion from annual operating costs for its 2021 financial year (the period to end-March 2021).Read said adopting technologies such as automation offered “a compelling opportunity to transform the group’s operating model.” Other savings will be made in back-office departments including IT and signing partnership deals to make better use of assets.In its European consumer offering, Read said it would “radically simplify Vodafone” by selling one converged service. It will also focus on retaining existing customers and upselling to them rather than recruitment campaigns.Following-on from recent results statements when predecessor Vittorio Colao pointed to challenges in Italy and Spain, Read noted Vodafone’s local units had taken action to try and address the slide. Outside of these two countries and India, Read said Vodafone had achieved “good performance in most markets”.Its enterprise segment is in the process of being rebranded Vodafone Business, a move Read said would “help to increase our brand recognition as we broaden our service offering,” pointing specifically to the industrial IoT opportunity offered by 5G.In developing markets, including subsidiary Vodacom, the company will focus on expanding data usage and extending the scope of its financial services operation.5G and FWAWith rivals across major markets talking-up their abilities to lead in 5G, Read said the company aimed to “co-lead” in the new network technology: “we don’t want to go faster or slower than the first player in the market. The immediate benefit we see from 5G is around reducing costs.”He added if Vodafone attempted to lead in 5G against incumbents it would turn into an “arms race”, driving up capex for all parties.Across most of its footprint it operates both mobile and fibre, or will do should an asset acquisition from Liberty Global be approved. In this context, Read said the company had assessed fixed wireless access 5G, but didn’t see a business case “when you have fixed broadband in place with the ARPU levels you have in Europe.”The company has now filed its papers on the Liberty Global deal with European regulators: Read said the process was “going well”. Subscribe to our daily newsletter Back Related Vodafone seeks at least €2B from tower IPO AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 13 NOV 2018 Home Vodafone targets €1.2B in cost cuts after H1 loss MTN plots fintech, infrastructure spin-offs Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved… Read more Chris Donkin Tags Vodafone sets wheels in motion for tower IPO Author Previous ArticleSmart speaker shipments hit milestoneNext ArticleTelecom Italia dumps CEO Genish earningsNick ReadVodafone Grouplast_img read more

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