PLC 4ever Sat, 21 May 2022 05:00:00 +0000 en-US hourly 1 PLC 4ever 32 32 “My bank said I had to quadruple my mortgage payment or sell my house” Sat, 21 May 2022 05:00:00 +0000

Those who have suddenly struggled to fill the gap have turned to declassifying stocks. In the first three months of this year, 42 percent of equity release clients used the money to pay off a mortgage, according to Key Later Life Finance, a financial planner. This accounted for more than half of all equity release loans –– a jump of 45 percent over the same period in 2021 and the highest proportion on record.

Others turned to specialized lenders who offer interest-only annuity mortgages. Mr Higginson and the Atkins have rescheduled through LiveMore, which began trading in October 2020. Their cost is higher than their previous deals (Mr Higginson is now paying £500) but cheaper than hiring.

Leon Diamond of the specialist lender said: “We will likely see a steep increase in the number of mortgage prisoners. These are customers who are on large adjustable rate mortgages but don’t have a repayment strategy.”

Homeowners with interest-only mortgages typically pay a standard variable interest rate, meaning they are at particular risk if interest rates rise. “In the next six to 12 months, defaults and defaults will hit the market,” added Mr. Diamond.

L&C Mortgage Brokers’ David Hollingworth said borrowers are being pressured exactly how they should make repayments.

A large number of older homeowners did interest-only deals prior to 2008, before post-crash regulations brought stricter affordability tests and requirements for clear repayment schedules, he said.

The growth in home prices in the early 2000s meant buyers were encouraged to keep their mortgage costs down. “These borrowers face a real crisis later in life,” he added.

Alex Edmans of Saga Personal Finance, which caters to the over-50s, said: “A lot of people sleepwalk in there and then get a rude awakening.”

A spokesman for Lloyds Banking Group said: “We are in contact with our rate-linked customers throughout the life of their mortgage to remind them of the importance of having an appropriate repayment tool and to get in touch with them if there are any concerns. We have a team of colleagues dedicated to finding solutions for anyone who needs extra help.”

Consultations begin on plans to expand London’s Ultra Low Emission Zone Fri, 20 May 2022 05:00:00 +0000

Consultations have been launched on plans to expand London’s Ultra Low Emission Zone (Ulez) to cover the city as a whole.

Sadiq Khan, the capital’s mayor, is proposing to extend the plan’s boundary from the North and South Circular Roads to the whole of Greater London from August 29 next year.

Drivers of vehicles that do not meet minimum emissions standards will be charged a daily fee of £12.50 to enter the Ulez.

Sadiq Khan has repeatedly warned of the dangers of poor air quality (Liam McBurney/PA) / PA wire

The consultation is being conducted by Transport for London.

Analysis by the PA news agency revealed that more than 3.5 million more people will live in the ulez if it expands as planned.

The mayor’s office estimates that an additional 135,000 vehicles would be affected each day.

It warned the capital was suffering from a “toxic air crisis” with around 4,000 premature deaths in 2019 attributed to polluted air.

The boroughs of Barnet, Bromley, Croydon and Havering had the most deaths, showing poor air quality “is not just a problem in central London”, according to Mr Khan’s office.

Whether or not a vehicle is subject to the Ulez toll depends on how much nitrogen dioxide (NO2) it emits.

NO2 damages the lungs and can aggravate existing conditions such as asthma, lung and heart disease.

To avoid the fee, diesel cars must generally be registered after September 2015, while most petrol models registered from 2005 are exempt.

Mr Khan previously ruled out introducing a clean air fee that would have affected drivers of all but the cleanest vehicles.

He also decided not to pursue a proposal to charge drivers of vehicles registered outside of London to enter the capital.

Trelleborg AB (Sweden) and the Freudenberg Group (Germany) are leading players in the pharmaceutical processing seals market Thu, 19 May 2022 20:53:04 +0000

“Search 143 Market Data Tables and 36 Figures spread over 162 Pages and Detailed TOC on “Pharmaceutical Processing Seals Market””

Pharmaceutical Processing Seals by Material (Metals, PTFE, Nitrile Rubber, Silicone, EPDM, FKM, FFKM, UHMWPE, PU), Type (O-Ring Seals, Gaskets, Lip Seals, D-Seals), Application (Production Equipment) and Region

The market size of gaskets for pharmaceutical processing is estimated at USD 2.1 billion in 2021 and is projected to reach USD 3.3 billion by 2026, at a CAGR of 10.0% between 2021 and 2026.

Seals are an important part of pharmaceutical equipment and are used for various applications in the pharmaceutical industry, e.g. B. to prevent contamination and leakage and to manage friction and abrasion. The properties present in pharmaceutical process seals, such as excellent chemical resistance and stability under extreme temperatures and pressure conditions, allow them to be used in various applications. These properties of seals for pharmaceutical processing are expected to drive the demand over the forecast period.

The demand for seals for pharmaceutical processing is mainly met by global players that manufacture these devices for various end-uses. Major players in the pharmaceutical seals market include Trelleborg AB (Sweden), Freudenberg Group (Germany), Flowserve Corporation (USA), James Walker (UK), Parker Hannifin Corporation (USA), Saint-Gobain SA (France) and Garlock (USA), John Crane (USA), IDEX Corporation (USA) and Morgan Advanced Materials Plc (UK). The Pharmaceutical Processing Gaskets Market report analyzes the key growth strategies employed by the leading market players between 2018 and 2020, including expansion, joint venture, new product development, and mergers and acquisitions.

To learn more about the assumptions considered for the study, download the PDF brochure

The Freudenberg Group is one of the leading manufacturers of pharmaceutical process seals. The Company operates through three business segments, namely Sealing and Vibration Control Technology, Nonwovens and Filtration, Household and Specialties and Other Business Segments. The Company provides sealing solutions for the pharmaceutical industry through its subsidiary Freudenberg Sealing Technologies, which is a major player in the pharmaceutical processing seals market and offers a wide range of sealing solutions for the pharmaceutical industry. The big advantage for the company is that it is backwards integrated and therefore can easily formulate customized products according to customers’ requirements. The company offers a wide range of seals for the pharmaceutical industry, including agitator seals, standard cartridge seals, thrust seals, couplings and flat seals. It offers sealing solutions for the process industry, fluid power, mobile machinery, energy and many others. The Company provides pharmaceutical sealing solutions through the process industry market.

Trelleborg AB is one of the major players in the pharmaceutical processing seals market which has implemented growth strategies such as mergers and acquisitions, expansion and new product development. The company offers engineered polymer solutions used in sealing, cushioning and protection applications. It offers sealing solutions for the pharmaceutical industry through its subsidiary Trelleborg Sealing Solutions. The Company offers O-rings, gaskets and diaphragms for pharmaceutical sealing applications. It has a strong geographic presence in more than 40 countries with 28 manufacturing sites and 9 R&D centers in Europe and America. The companies have initiated the following developments:

  • In 2021, Parker Hannifin Corporation reported that it had reached agreement on the terms of a recommended cash purchase of all issued and future common stock (Meggitt) of Meggitt Plcs.
  • In 2019, Trelleborg AB acquired Sil-Pro, LLC, a privately held US contract manufacturer specializing in high tolerance silicone and thermoplastic components and medical device assembly.
  • In 2020, Freudenberg Klüber Lubrication München SE and Co. KG, Munich, Germany (part of the Freudenberg Chemical Specialties business group) acquired all shares in Traxit International GmbH, Schwelm, Germany. The company is fully consolidated as part of the Freudenberg Group. In total, assets worth US$55.5 million were acquired.

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Chancellor outlines further economic support for Ukraine at the G7 meeting in Bonn Thu, 19 May 2022 14:23:00 +0000
  • Rishi Sunak also discussed how global partners can continue to work together to mitigate the impact of war on the global economy

  • He will also urge G7 colleagues to keep up the momentum and implement the historic agreement on global tax reform – to ensure companies pay their fair share of taxes in the countries where they operate

Chancellor of the Exchequer Rishi Sunak confirms that the UK is ready to guarantee Ukraine up to $50 million in further financing to ensure continuity of electricity supply for its citizens.

The Chancellor attended meetings with G7 partners today and tomorrow, together with Bank of England Governor Andrew Bailey. They discussed efforts to support Ukraine and the way the war is increasing pressure on the global economy, including the impact on the cost of living in the UK.

Today, Rishi Sunak announced the UK’s commitment to guarantee an additional US$50 million in financing for Ukraine from the London-based European Bank for Reconstruction and Development. This comes on top of the $950 million in loan guarantees the UK has already pledged to significantly increase World Bank lending to the government of Ukraine to help meet urgent budgetary needs.

This guarantee will be used by the EBRD to provide further financing to Ukraine’s electricity grid operator, Ukrenergo, to support the continued supply of electricity to the brave Ukrainian people, subject to parliamentary approval.

This funding is part of the significant economic, humanitarian and military assistance that the UK has pledged to Ukraine, totaling well over US$3 billion.

The Chancellor also discussed the common challenges facing the global economy, including the rising cost of living worldwide, and the acute challenges facing developing countries, including heightened food insecurity.

He urged his partners in the G7 to ensure that the sanctions announced so far are implemented as a matter of urgency and enforced rigorously in order to impose maximum costs on Putin and his regime.

Before the meetings, Chancellor of the Exchequer Rishi Sunak said:

I stand firm to my G7 partners and stand by Ukraine. I am pleased to confirm UK guarantees of up to US$50 million for the EBRD’s critical support in Ukraine. This will help Ukraine continue to provide electricity to its citizens as they fight for their freedom.

It is clear that Putin’s barbaric and illegal invasion of Ukraine not only had a devastating humanitarian impact on Ukraine; It is also causing significant disruption to the global economy, the effects of which are being felt across the G7, including here at home in the UK.

I am committed to working with my G7 partners to address these common challenges.

Tomorrow the Chancellor will also call for progress on the implementation of the international tax treaty concluded last year during Britain’s G7 presidency. This historic global tax reform will ensure that companies pay their fair share of taxes in the countries where they operate. In Bonn, the Chancellor will encourage his partners to keep up the momentum and work together to reach the agreement as soon as possible.

additional Information

  • On the occasion of the meeting of the G7 finance ministers and central bank governors in Bonn, the chancellor will meet with his partners for working sessions today and tomorrow and will hold briefings with some of the finance ministers present.

  • The UK’s combined economic, humanitarian and military support package, valued at over US$3 billion, includes:

    i) approximately $500 million in economic and humanitarian grant support to Ukraine. This includes: a £220m (approx. $290m) humanitarian aid package, making the UK a leading bilateral humanitarian donor; a tax support grant of approximately £75m ($100m) provided through the World Bank Trust Fund; a £100 million (about $130 million) grant to support Ukraine’s energy security and reforms,

    ii) Nearly $1 billion in guarantees for World Bank lending to Ukraine, unlocking additional WB funding on a 1:1 basis in the coming months. These financial guarantees are subject to parliamentary approval.

    iii) $50 million in potential guarantees for loans to Ukraine by the European Bank for Reconstruction and Development (EBRD). This will be used to guarantee $100 million in EBRD loans to Ukrenergo. This guarantee is subject to parliamentary approval.

    iv) Over $1.5 billion in military aid, including thousands of anti-tank weapons

  • The G7 is also expected to discuss international solutions to tackle carbon leakage and fund pandemic preparedness.

Brexit news: Tory MP warns Britain will need ‘a few years’ to digest economic hit | Politics | news Thu, 19 May 2022 13:50:00 +0000

Alistair Burt said Brexit has cost the UK a lot of money as leaving the European Union has worsened trade relations and exacerbated the cost of living crisis. The former Conservative MP argued the economy would recover more slowly from recent inflation figures because of the nation’s decision to pro-independence. Speaking to LBC, Mr Burt said: “I think exiting the European Union is costing us something at this point.

“I think most of the big think tanks that have reported are suggesting the cost, I can’t remember the last figure, I think there was one that was suggesting £800m a month or something like that.”

He continued: “I think there is a general presumption among neutral commentators that there is currently a physical cost to the United Kingston of leaving the European Union in terms of the cost of goods and trade and such to the UK economy. “

Mr Burt pointed out that there was strong knowledge among political commentators that Brexit had hurt the Tory government’s economy.

He added: “The UK economy will not grow as fast outside the European Union as it does inside the European Union and this will take a number of years to work through.

“I would be absolutely convinced of that.”

The former MP defended his stance as a remainer, claiming his current view relates to the cost of living crisis and not to his referendum vote.

He said: “I make no secret of the fact that I voted to remain in the European Union and would not have gone.

“But the arguments about the cost of living crisis go beyond that.”

Read more: Sunak slated as Treasury using outdated policy not to help Brits

Despite his criticism of Brexit, Mr Burt acknowledged external global factors that had also contributed to the gloomy economic picture.

Mr Burt said: “It will of course be fueled by this change in wholesale energy prices, it will be fueled by the impact of the war in Ukraine on commodity prices, which will be particularly detrimental to grain and the like.

“It has little to do with leaving the EU, and those costs come from something else.”

Despite these factors, the former MP insisted Brexit had significantly exacerbated the nation’s economic woes.

However, Mr Burt said he would not support a campaign to return to the European Union because it would create further confusion in economic policy.

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He said: “The arguments for a return to the EU, it would be so disruptive now to have any sort of topical campaign in relation to it.

“I don’t feel there’s an appetite for it in the UK, it’s not such a simple equation as if we get back together suddenly there’s a change in finances.

“That time has passed, I’m sorry and I don’t regret my view or my vote, but I don’t think it’s a viable option at the moment.

“It’s not an instant fix to the kind of problems people face every day.”

Are Johnson Service Group PLC’s (LON:JSG) Mixed Financials the Reason for Its Dismal Stock Market Performance? Wed, 18 May 2022 05:16:14 +0000

It’s hard to get excited looking at the recent performance of Johnson Service Group (LON:JSG) when the stock is down 28% over the past three months. It seems that the market has completely ignored the positive aspects of the company’s fundamentals and decided to give more weight to the negative aspects. Long-term fundamentals usually drive market outcomes, so it pays to pay close attention. Today we will be paying special attention to the ROE of the Johnson Service Group.

Return on Equity or ROE is an important factor to consider by a shareholder as it tells them how effectively their capital is being reinvested. Put simply, it measures a company’s profitability in relation to its equity.

Check out our latest analysis for Johnson Service Group

How do you calculate return on equity?

That Formula for return on equity is:

Return on Equity = Net Income (from continuing operations) ÷ Equity

So, based on the formula above, the ROE for the Johnson Service Group is:

2.5% = £6.9m ÷ £272m (based on trailing 12 months to December 2021).

The “return” is the income that the company has made in the last year. One way to conceptualize this is that for every £1 of shareholder capital it has, the company makes £0.03 of profit.

Why is ROE important for earnings growth?

We have already established that ROE serves as an efficient profitable measure of a company’s future profits. Based on how much of its profits the company chooses to reinvest, or “retain,” we are then able to assess a company’s future ability to generate profits. Assuming all else being equal, companies that exhibit both higher return on equity and higher earnings retention tend to be those that exhibit a higher growth rate than companies that do not share the same characteristics.

Johnson Service Group earnings growth and 2.5% ROE

It’s hard to argue that Johnson Service Group’s ROE is very good in and of itself. Even compared to the industry average ROE of 12%, the company’s ROE is pretty dismal. Given the circumstances, the sharp 41% drop in net income that Johnson Service Group has seen over the past five years isn’t surprising. We believe there may be other issues negatively impacting the company’s earnings prospects. For example, the company has allocated capital poorly or the company has a very high payout ratio.

As a next step, we compared Johnson Service Group’s performance to the industry and found that Johnson Service Group’s performance is depressing even compared to the industry, which has shrunk its profits by 2.9% over the same period, which is slower as the company.

AIM:JSG Past Earnings Growth May 18, 2022

Earnings growth is an important factor in stock valuation. It’s important for an investor to know whether the market has priced in the company’s expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. Is JSG Fairly Rated? This company intrinsic value infographic has everything you need to know.

Is Johnson Service Group using its profits efficiently?

While the company has historically paid a portion of its dividend, it currently pays no dividend. This implies that potentially all profits are reinvested in the company.


Overall, we feel that the performance shown by the Johnson Service Group is open to many interpretations. While the company has a high reinvestment rate, the low ROE means that all of these reinvestments are of no benefit to investors and, moreover, have a negative impact on earnings growth. With this in mind, we examined the latest analyst forecasts and found that while the company has a history of shrinking earnings, analysts expect its earnings to rise going forward. Are these analyst expectations based on broader expectations for the industry or on company fundamentals? Click here to go to our analyst’s forecast page for the company.

This Simply Wall St article is of a general nature. We provide comments based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended as financial advice. It is not a recommendation to buy or sell any stock and does not take into account your goals or financial situation. Our goal is to offer you long-term focused analysis based on fundamental data. Note that our analysis may not take into account the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any of the stocks mentioned.

The Day – Like New London itself, the music scene is diverse Tue, 17 May 2022 23:06:45 +0000

New London — Andrew “Suave-Ski” Camacho carries two boxes of flavorful pizza through the doors and into ArtFlame’s quaint studio in an artist-filled downtown corner of the city.

Three aspiring artists are at State Street Studio: 19-year-old Krystalya “K.Rose” Arroyo-Casey, 17-year-old Demarcus “Markeyy” Green, and Camacho’s son, 9-year-old Cayden “King Cay”. Camacho. All three have specialized in different music genres – R&B, rap and electronic dance music – but found a home for themselves and their ambitions here and bonded through a shared love of music.

Camacho is a hip hop artist whose fame and recognition is growing; He was recently named to Connecticut Magazine’s “40 Under 40” list of the state’s most promising young people. He founded the non-profit ArtFlame Music Academy in 2021 to offer a crash course program for youth with a passion for music and a desire to capitalize on it. His work, he said, was inspired by his son – Andrew Camacho realized the young musician could make royalties from his music when the boy was just 8 years old.

ArtFlame Academy is free and is largely sponsored by the Garde Arts Center in New London. The main goal is to help aspiring artists produce music while learning the ins and outs of an industry known for taking advantage of inexperienced artists. ArtFlame also helps artists with legal publishing and mentoring them in audio production, design and other multimedia skills, said Andrew Camacho.

The program has seven students working on a collaborative album but aiming for a much larger class for the next session; Visit for more information.

It only seemed appropriate to locate ArtFlame in New London, a city known for welcoming musical artists. This organization is just one example of the haven that New London has created for musicians and music lovers alike, and demonstrates music’s ability to bring people together across a wide spectrum of musical genres.

“New London really attracts a diverse group of people,” said Richard L. Martin, a musician and owner of The Telegraph vinyl and music store at 19 Golden St. downtown. He chairs the city’s Cultural District Commission, a body on which Andrew Camacho also serves. “It’s a uniquely diverse place in a not-so-diverse region. I get people from all over New England and New York (to his store) and I get a lot of feedback about how wonderful our little town is.”

“Music is a great unifier,” he continued. “You don’t have to be of one ethnicity or another to listen to music. It’s a way of bridging gaps between us.”

Mayor Michael Passero said he believes the city has such an impact on the region’s music scene because it’s an urban, cultural enclave.

“Why have artists always been drawn to New London?” asked Passero. “Probably because of the nature of eastern Connecticut. It’s so rural and we don’t have that urban culture. You’d have to drive an hour either way,” he said, referring to the larger but more distant cities of New Haven and Providence, which also have a diverse music scene.

“New London is unique (with an) urban lifestyle and quality,” said Passero. “When you’ve picked a neighborhood out of Brooklyn or Manhattan and then (placed) it in this otherwise rural and suburban area, then New London is (what is). It is this rough and gloomy city center that feeds the whole region. It’s a place that attracts talented and artistic people to share with one another.”

And New London, dubbed ‘the small but mighty City of the Sound’ by The Telegraph’s website,, seems to shine in this regard.

Daphne Parker Powell, a pop and folk singer-songwriter who splits her time between New London and New Orleans and produces captivatingly soulful music about her emotions and life experiences, believes the city is a hidden gem for new artists exploring their creative… Process in the city can thrive chaos and noise of the urban scene.

“I came to the city in 2002 and started really getting involved in the art scene in 2004,” she said. “It was such a beautiful moment in the rise of what would become a truly vibrant decade in New London. Everyone just wanted to play, try different instruments and styles and collaborate with everyone else. It was so easy to dive into because the possibilities seemed endless.”

New London musicians are also often determined to give back by helping other music artists.

“I lost a bandmate to an overdose in 2008,” Powell said. “It was an accident and he was struggling so badly with a chronic illness that was at times excruciatingly painful. We all feared it, and one day we got the call you never want to get. I remember meeting up at a local watering hole in New London where all his friends would naturally come in to hug, tell stories and cry together.”

But they also more than comforted each other. They found a concrete way to give some hope to others they didn’t even know. They were planning a bursary in his name – Phil Agins, best known as the lead guitarist for the band The Royale Brothers but who frequently played with other musicians in the area – to support aspiring artists and their music school studies, she said.

“We wanted his music, his gift to all of us, to continue to educate people we haven’t met,” she said. “Just as he raised us when we were alive.”

“We are all here to make music”

ArtFlame’s young students hope that New London’s welcoming atmosphere for musicians will help them to establish themselves in the field.

“I usually do R&B, very vintage 90’s beats, that’s my thing,” K.Rose said, laughing. She said she started singing as a child, appearing on the New London Talent Show, but a few years ago her musical energy was temporarily drained when her grandmother died.

“I really wanted to get back into it because she loved it when I made music and I think it’s a good way to try and keep her memory alive,” K.Rose said in a recent interview.

Sitting in the studio with Andrew Camacho and K.Rose, there was an intense sense of family connection. While Camacho served the pizzas, K.Rose and Markeyy sat in studio chairs and freestyled each other.

Although both hail from New London, Markeyy was a new connection for K.Rose. And although he specializes in a different style of music, rap, they bonded.

“I think it’s great. We’re all figuring out how to get together to do one thing and one album. Any different style will be fine,” said K.Rose. “We’re all here to make music . It’s something we’re all connected about. But at the same time, we’re also hanging out outside making music.”

Markeyy, a varsity wrestler at New London High School when he’s not in the studio, said he’s found a home at ArtFlame, although he had never heard of the studio when his aunt signed him up to go .

“Suave and Pete are like the two dads,” Markeyy said, referring to Andrew Comacho and Pete Helms, the artistic manager who works to introduce students to the business end of the music industry. “We are like a whole family. We sometimes go out to eat together. We have fun sessions and make unwritten music out of our heads.”

During a recent studio session, K.Rose performed while Andrew Camacho, Markeyy and King Cay accompanied, supported and encouraged her.

“You cruise, that’s what you were made for,” Andrew Camacho tells K.Rose as she pulls off a particularly impressive run.

Markeyy cheered them on while King Cay beatboxed to their track.

“I just want to thank Suave-Ski and Pete and ArtFlame for giving me this opportunity to bring out what I’ve been holding on to for years,” Markeyy said. “And helping me put out music that could help people in the future.”

“I’ve noticed that a lot of these students who didn’t know each other become very close,” said Andrew Camacho. “They start to be like family and help each other. Talking about music, start coaching each other. It’s starting to turn into a family. Music does that. It is the language of the soul.”

]]> Hikvision sanctions signal uncharted territory from UK to Vietnam | technology Tue, 17 May 2022 05:59:11 +0000

Taipei, Taiwan – The world is watching as Washington is reportedly preparing to impose unprecedented sanctions on Chinese state-owned surveillance technology company Hikvision, a move Beijing is reportedly weighing countermeasures for.

The sanctions could raise tensions between the United States and China to a new level, but they are also uncharted territory for countless companies worldwide that use Hikvision equipment.

The measures – first reported earlier this month by the Financial Times, citing several unnamed sources – would mark the first time a brand of this magnitude, operating in more than 180 countries, has been added to the list of Specially Designated Nationals (SDN ) comes. usually reserved for drug lords and leaders of violent groups. The strictest version would make any person or entity in the world criminally liable if doing business of any kind with Hikvision.

Hikvision has run afoul of U.S. regulators before and is already on multiple lists excluding it from much of the American economy. The proposed SDN listing is reportedly due to the Hangzhou-based company facilitating the repression of China’s Uyghur minority, which the Biden administration has described as genocide.

“Possible actions by the US government have yet to be reviewed, as reported,” Hikvision spokesman Michael Gutierrez told Al Jazeera. “We believe that such a sanction should be based on credible evidence and due process.”

China’s Hikvision has been linked to the repression of Uyghurs in the westernmost province of Xinjiang [File: Thomas Peter/Reuters]

Hikvision’s key customers are geographically, economically and politically diverse and could respond in significantly different ways. Besides the United States, Hikvision’s main export markets are Vietnam, Mexico, the United Kingdom and Brazil.

“Sanctions imposed by the Magnistky Act would represent a leap into the unknown…not just for Mexican companies, but for companies from most countries,” Victor Gonzalez, a Beijing-based Mexican corporate lawyer representing Chinese law firm PC Woo & Zhonglun WD advises on Latin American region, Al Jazeera said.

“Would adding Hikvision to the SDN list be an exception…?” said Gonzales. “Or would it become the new normal, meaning we are forced to follow the steps of our key partner in decoupling from our world’s second largest supplier?”

Jon Bateman, a senior fellow at the Carnegie Endowment for Peace, said Washington’s reported plans are unprecedented.

“I can’t think of another instance of a global brand being put on the SDN list, so it’s really hard to predict how this is all going to play out,” said Bateman.

Bateman said that with so many countries involved, significant “enforcement capacity” would be needed.

“If I were the Justice Department, I would first look for countries that are less friendly to the United States and where there is evidence of willful violations,” he said, adding that he expects “diplomacy to be the order of the day.” “.

“We may see countries negotiate exemptions, like when the US sanctioned Iranian oil. These can be specific use case exceptions or extended processing times.”

Risk the wrath of the US

Among other things, Mexico has previously negotiated sanctions solutions with the USA.

Gonzalez said Mexico’s experience with Huawei, which has also been hit by US sanctions, could be illustrative.

Both Mexican and American telecom companies operating in Mexico have been able to offset US concerns about Huawei against their ties to the Chinese company by downscaling Huawei’s presence on their networks without removing it altogether.

“The challenge is, as our current Mexican ambassador to China, Jesus Seade, has said, ‘find ways to get ever closer to China without distancing ourselves from our main partner,'” Gonzalez said. “But we in Mexico must be realistic as he concludes that ‘our most important relationship with the United States was, is and always will be’.”

“Mexico has more to lose by not complying with US sanctions on Chinese companies than trying to avoid them and risking America’s wrath…the challenge for Mexico is to walk a fine line, or strike a balance, between its two.” to find key partners.”

Vietnam, also used to balancing a huge northern neighbor in China, is Hikvision’s biggest customer. With more than 670,000 Hikvision camera networks set to be installed in the country, according to Top10VPN, abandoning the Chinese provider will not happen overnight.

“There are a few alternatives in the Vietnamese market, including local ones… but it will take time for the market to change significantly,” Nguyen Khac Giang, a senior fellow at the Vietnam Institute of Economic and Policy Research in Hanoi, told Al Jazeera .

Giang said he doesn’t think it’s realistic or necessary to replace all Hikvision devices, but the sanctions raise serious questions about purchasing or using its products in the future.

“There is no reason for Vietnam not to comply with sanctions, especially given the country’s recent rapprochement with the US,” he said.

“Vietnam has complied with all previous sanctions and I think it will do the same this time. Whether this will affect relations with China depends on the extent of the sanctions and how Beijing reacts to them. But I don’t think it will make the relationship much worse.”

The UK is looking into the presence of Chinese tech companies like Hikvision and Dahua in the public sector supply chain [File: Matthew Lloyd/Bloomberg]

Despite being a close US ally, the UK was “behind the curve compared to Five Eyes’ key partners” in terms of restricting Chinese technology, leaving the private sector there exposed to Hikvision fallout, according to Sam Goodman, a former Labor Party adviser and co-founder of the London-based think tank New Diplomacy Project.

“The UK Government has indicated that it will look into the issue of Hikvision and Dahua’s presence in the public sector supply chain in the forthcoming Government Procurement Act, but this will not address the private sector,” Goodman told Al Jazeera, referring to it to which another video surveillance manufacturer from Hangzhou.

Goodman has called for a nationwide plan to remove Hikvision hardware, but doesn’t see it as imminent as the country is thought to have more than a million of its cameras operational.

“It is very unlikely that the government will come up with the money to pay for the removal of these cameras. It will therefore be up to each individual company, department and agency to remove the hardware on their own schedule,” he said.

“A lot of small and medium-sized businesses, including local pubs and corner shops, use Hikvision cameras… I highly doubt they’ve given much thought to what it might mean for their relationship with the company that the US adopts Hikvision.” set a sanctions list.”

Bateman, senior fellow of the Carnegie Endowment for Peace, said companies using Hikvision’s products would face unenviable choices going forward.

“Are you just going to Dahua?” he said. “But then Dahua could be next in line.”

“Mud the Water”

Bateman said he doesn’t think such sweeping sanctions would serve US interests, but it would still be important for Washington to consistently communicate why they are happening.

“While there are a number of possible reasons why this is happening now, it may simply signal the Biden administration’s view that US-China relations are a struggle between autocracy and democracy,” he said. “Hikvision sanctions are perhaps the easiest to implement and most justifiable measure at this point.”

The US government could “put forward all sorts of reasons” to convince the international community of the need for sanctions, Bateman said, but “that would muddy the waters and open the door for many other Chinese companies to be sanctioned.”

Although the potential SDN list focuses on Uyghur oppression, Hikvision has also been sanctioned by the US in the past for other reasons, including its alleged ties to the Chinese military.

For some countries, this is a more compelling reason to ban their products.

“Of course, the bigger concern for Hanoi is the PLA connections,” Giang said. “Vietnam has always been suspicious of potential Chinese intelligence activities in the country, the recent discovery of Hikvision’s security risk certainly makes matters worse,” he added, citing claims by the US Department of Defense and investigations by video surveillance research group IPVM.

Landbay changes its name to Broker Po… Mon, 16 May 2022 23:01:26 +0000

Specialist buy-to-let fintech lender Landbay has launched its most comprehensive and intuitive brokerage portal amid a bold new brand.

The new brand is intended to set Landbay apart from the industry’s traditional image – and the brand line, “Your credit partner” reflects the trusting relationships Landbay has with its customers and intermediary partners.

Landbay’s portal reaffirms its commitment to improve customer lending. All systems are now built and maintained in-house, involving users throughout the development process and creating tools to suit their exact needs.

Landbay Chief Executive Officer John Goodall says the launch of the new brokerage portal is a “significant milestone” of which the team is extremely proud.

“Our new brand supports this leap in technology and service and opens a new chapter for Landbay,” he continues. “The team has done a fantastic job collaborating with clients and brokerage partners to create a better brand experience for everyone.”

The lender realized it needed to rethink and redesign the industry’s standard approach to case management to provide a better level of service – one that allows brokers direct access to underwriters and rapid settlement at scale.

And that’s exactly what Landbay has done, as Jays Shortt, Chief Product Officer, explains: “After extensive user research, we have developed a super-fast, easy-to-use portal for recruiters to submit their applications.”

“Decisions come back quickly, case tracking has never been easier and the entire process from application to closure is more transparent than ever.

“Chris Burrell, our CTO, and I are excited about what we have achieved with the portal and the underlying platform. The amount of quality work that the teams put into its creation was phenomenal.”

The US removes the Jewish extremist Kahane movement from the black list of terrorists Mon, 16 May 2022 01:49:54 +0000

COLOMBO: Sri Lankan authorities on Sunday completely lifted a nationwide curfew to mark the Buddhist holiday of Vesak, giving people a chance to celebrate as the nation weathers its economic and political crisis.

The curfew was imposed on May 9 after once-peaceful protests turned violent, killing at least nine people and injuring hundreds more. The violence was followed by Mahinda Rajapaksa’s resignation as prime minister and his brother Gotabaya Rajapaksa as president.

For more than a month, protesters have taken to the streets demanding the president’s resignation as the country of 22 million people suffers from mounting shortages of food, fuel and medicines, along with record inflation and lengthy power outages.

Colorful Buddhist flags were hoisted on buildings in the mostly Buddhist country on Sunday as residents visited temples dressed all in white to celebrate the day commemorating Buddha’s birth, enlightenment and death.

The government announced it would lift the Vesak curfew without saying when or if it would be reinstated. The Sri Lankans were also able to enjoy the day without any power outages.

“At this vesak, we can see the traditional alms centers, pandals (bamboo stages), vesak lanterns and the lighting of oil lamps, which will boost people’s spiritual morale,” said Rev. Udawela Kolitha Thera, Deputy Chief of Walukarama Temple in Colombo. said Arab News.

Sri Lanka has not been able to properly celebrate Vesak in recent years due to the pandemic and in 2019 the Easter Sunday attacks which also dampened celebrations.

Although events scheduled for this year have been scaled back due to political instability and the deepening economic crisis, the faithful nonetheless welcomed the chance for a pause.

“We are delighted to celebrate Vesak with added enthusiasm this year,” Colombo-based Kelum Bandara, who works at a leading publishing house in the capital, told Arab News.

“We will celebrate in a low-key manner because of the current economic crisis and the ongoing anti-government protests.”

“Sri Lanka was surrounded by spiritual fervor as the island nation celebrated another Vesak,” Colombo-based journalist Chaminda Perera told Arab News.

Newly appointed Prime Minister Ranil Wickremesinghe, who had previously been prime minister five times and never served a full term, made his first cabinet appointments on Saturday – all members of the Rajapaksas party.

The new appointments failed to appease Sri Lankan protesters who want the Rajapaksa, the country’s most influential political dynasty, removed from national politics.

The ruling family faces allegations of corruption and economic abuse as Sri Lanka faces its worst economic crisis since independence in 1948.

Opposition parties refuse to join a new government unless the president resigns first.