Call for reform leaves valuers at a crossroads

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K-pop group BTS’ label Big Hit debuts at double its IPO price

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first_imgThe stock rose as much as 30 percent in early trade to 351,000 won, compared with a 0.3 percent fall on the benchmark KOSPI.South Korean retail investors earlier this month laid out 58.4 trillion won in orders for Big Hit shares, falling just short of a record 58.55 trillion won for the retail portion of Kakao Games’ listing in September.Big Hit relies heavily on BTS, with the Billboard-topping group accounting for 87.7 percent of the label’s revenue in the first half of 2020, according to a regulatory filing.The seven-member boy band has a huge global fan base, which the label has promoted effectively through social platforms and online performances since in-person performances were cancelled because of the coronavirus pandemic.Analysts say the company has proved itself extremely online savvy, using Youtube and social media for market infiltration. It also has an unprecedented level of control over its revenue streams via its Weverse fandom platform, which has the potential to draw in other artists, analysts say.Topics : Big Hit Entertainment, the management label of popular South Korean boy band BTS, debuted at double its initial public offering (IPO) price on Thursday as investors scrambled for a piece of the country’s largest listing in three years.Big Hit shares opened at 270,000 won, valuing the company at about 9.6 trillion won (6.4 billion pounds), compared with an IPO price of 135,000 won per share last month.That puts the company on track to join the all-time top 10 debuts on the South Korean stock market, based on first-day closing prices.last_img read more

Insurance company tenders €200m EM currency mandate using IPE-Quest

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first_imgAn undisclosed European insurance company has tendered a €200m emerging market hard currency mandate using IPE-Quest.According to search QN-2065, the investment process should combine top-down country/sector selection with bottom-up duration/issue selection. The client is also looking for “large and experienced” teams that have not experienced major personnel changes in recent years.Fund managers should have at least €2bn in assets under management (AUM) as a company and €1bn in AUM for the asset class itself. They must also have a minimum track record of five years.Tracking error for the core, active mandate should range between 1% and 5%, employing the JP Morgan EMBI Global Diversified index as a benchmark.Interested parties should state performance – gross of fees and in US dollars – to the end of May.The closing date for applications is 24 June, 5pm GMT.The IPE news team is unable to answer any further questions about IPE-Quest tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE-Quest, please contact Jayna Vishram on +44 (0) 20 7261 4630 or email jayna.vishram@ipe-quest.com.last_img read more

USS given green light to sue Petrobras over bribery claims

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first_imgThe £48bn (€64bn) Universities Superannuation Scheme (USS) is suing Brazil’s Petrobras, alleging large-scale bribery at the energy company.The UK’s largest pension fund said the Southern District of New York had certified its suit as a class action on 2 February.The court named USS lead plaintiff, allowing investors that had acquired Petrobras shares between 2010 and July 2015 to sue for damages.It also ruled that investors that acquired debt issued by the company for the 10 months following May 2013 were entitled to seek redress. In a statement, USS cited alleged securities violations “stemming from a large-scale bribery and money-laundering scheme”, which it said had caused losses worth billions of US dollars.Concerns over the management of Petrobras recently saw Norges Bank Investment Management (NBIM) place the company under observation, a step that could lead to its eventual exclusion from the investment universe of the Norwegian Government Pension Fund Global.At the time, NBIM cited the recommendation of the Council on Ethics, which raised concerns of “gross corruption”.The Council’s recommendation added: “Senior executives of the company and its most important suppliers have apparently for a decade organised a system of paying large bribes to top politicians, political parties and civil servants.”The recommendation also noted several convictions over “kickbacks”.Petrobras admitted last year it had lost an estimated BRL6.2bn (€1.4bn) due to corruption, relating to alleged bribes paid to win contracts.Jeremy Hill, group general counsel at USS, added: “The fraudulent actions of Petrobras executives have caused significant losses to investors worldwide, many of whom are responsible for the pensions or long-term savings of large numbers of individuals.“As lead plaintiff, we therefore welcome the court’s decision, which will allow these claims to continue as a class action.”Jeremy Liebermann, lead counsel for the class action and partner at New York law firm Pomerantz, claimed that the alleged fraud conducted by Petrobras had “eviscerated billions of dollars in shareholder value” while damaging Brazil’s economy.He said the court’s decision to allow the case to proceed was a “significant milestone” for investors seeking to reclaim losses.last_img read more

Man on bail for bashing assaults partner

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first_imgSouthland Times 17 June 2013A 25-year-old man assaulted his partner while on bail for assaulting her four months earlier, the Invercargill District Court was told on Friday.Appearing before Judge Michael Turner, Tex William Turu admitted assaulting a female on January 26 and May 11. He was remanded in custody to July 9 for sentence.Police prosecutor Sergeant Rob Mills said Turu was standing next to a vehicle his partner was sitting in when they started arguing on January 26.Turu grabbed the woman by the throat and pushed her backwards before grabbing one of her arms, pulling her out of the car and punching her repeatedly as she lay on the ground, he said.When spoken to by police, Turu declined to comment.On May 11, while on bail for the first assault, the pair argued again and Turu pushed her, grabbed her by the hair and punched her in the face about three times.http://www.stuff.co.nz/southland-times/news/8802739/Man-on-bail-for-bashing-assaults-partnerlast_img read more

Dutch Hero Says It’s Difficult To Get Another Kanu, Finidi

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first_img “I thought it was very clever that Ajax got two Nigerians, who almost literally came from the jungle. Kanu had never played football in a stadium, did not even know the rules well,” said Overmars, as quoted on the Ajax official website. “It is so great that you get those two and that they have become so important to Ajax.” The former Barcelona winger, however, believes that the scouting network is no longer how it used to be in days of Kanu and Finidi. And he maintains that Ajax may no longer get to pull off such transfer stunts in present times. He added: “The time is different, of course. Tonnie Pronk was the only scout in Nigeria at the time. In the matches where he watched Finidi and Kanu, there was no one else. read also:Finidi George desiring to coach Nigeria “If there is now a youth tournament in South America, there will be complete trips for scouts organized by agencies. Then there are 400 people there; hotels are blocked, buses are arranged.” FacebookTwitterWhatsAppEmail分享 Loading… Mark Overmars has lauded Ajax’s scouting network that produced Nwankwo Kanu and George Finidi, with the former Arsenal forward doubting whether it is still structurally possible to discover such gems from scratch. Promoted ContentPlus-Size Girls Who Set The Catwalk On FireContemplate Life At These 10 Stargazing LocationsTop 10 Most Romantic Nations In The WorldWho Is The Most Powerful Woman On Earth?7 Of The Wealthiest Universities In The WorldA Hurricane Can Be As Powerful As 10 Atomic BombsWhich Country Is The Most Romantic In The World?Some Impressive And Almost Shocking Robots That ExistCouples Who Celebrated Their Union In A Unique, Unforgettable Way2020 Tattoo Trends: Here’s What You’ll See This YearBirds Enjoy Living In A Gallery Space Created For Them10 Stargazing Locations To ‘Connect With Nature’ Manager Louis van Gaal assembled one of the most talented side ever seen in Europe in the early nineties and completed the puzzle by adding two Nigerian youngsters. Both Kanu and Finidi arrived in the Netherlands in the summer of 1993, having been scouted playing on the domestic scene with Iwuanyanwu Nationale and Sharks of Port Harcourt, respectively. Finidi quickly sealed his place as Ajax’s leading right-winger, while the younger Kanu earned his spot among the team’s established forwards. Together, they transformed Ajax into an unstoppable winning machine, lifting eight major trophies in three years, including the 1995 Champions League. Now working as the director of football at Ajax, Overmars is responsible for the club’s transfer policy, and he is still full of admiration for the system that yielded the Nigerian heroes.Advertisementlast_img read more

Several nations want to host CAF Champions League mini-tournament

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first_imgEgypt, Tunisia and possibly a Middle East country will be candidates to replace Cameroon as hosts of the 2019⁄2020 CAF Champions League semi-finals and final. Confederation of African Football (CAF) president Ahmad Ahmad announced this month the closing stages of the premier African club competition would be staged in Douala. But the recently completed 60,000-seat Japoma Stadium in the Atlantic port city has been ruled out as hosts of the September mini-tournament mainly due to the coronavirus pandemic. There were also concerns seasonal downpours in the central African country could affect the match schedule, earmarked for dates during September that have not been finalised. The Egypt Football Association said they were ready to replace Cameroon, and pointed to their successful hosting of the 2019 Africa Cup of Nations and Olympics qualifying tournaments. No venue was mentioned but it would almost certainly be the Cairo International Stadium or the Borg el Arab Stadium near Mediterranean city Alexandria. Champions League semi-finalists Raja Casablanca and Wydad Casablanca from Morocco might object to such a decision, though, as they face Egyptian opponents Zamalek and Al Ahly. A major factor in Ahly and Zamalek becoming the two of the three most successful clubs in CAF competitions is the unrelenting support from packed stands. But that advantage will not count if Egypt are selected as hosts because the matches are due to be played behind closed doors. – Objection would be ironic – A Moroccan objection would be ironic as the capital of the kingdom, Rabat, will host the semi-finals and final of the second-tier CAF Confederation Cup, which includes two local sides. Renaissance Berkane face Hassania Agadir in the semi-finals, guaranteeing a Moroccan presence in the final against Pyramids of Egypt or Horoya of Guinea. Tunis wanted to host the Champions League semi-finals and final, only to lose out to Douala, and would be a logical choice with the city roughly halfway between Casablanca and Cairo However, Ahmad and his CAF executives have unhappy memories of the Stade Olympique in the Tunisian capital. The second leg of the last Champions League final, between local club Esperance and Wydad, was abandoned when the Moroccans walked off after an aggregate-levelling goal was ruled out. CAF initially ordered a replay at a neutral venue, then complied with the competition rules and declared Esperance champions. Loading… Read Also: Lampard cautions Chelsea stars to forget revenge talk against Man Utd Were CAF to opt for a Middle East venue, as a senior official in the Cairo-based organisation has hinted, Qatar would be a possible candidate. The host of the 2022 World Cup staged the last two editions of the CAF Super Cup, an annual match between the Champions League and Confederation Cup title holders. FacebookTwitterWhatsAppEmail分享 Promoted Content7 Ways To Understand Your Girlfriend BetterBest & Worst Celebrity Endorsed Games Ever Made6 Incredibly Strange Facts About Hurricanes7 Universities Where Getting An Education Costs A Hefty Penny7 Black Hole Facts That Will Change Your View Of The UniverseHere Are The 10 Most Famous Female Racers Of All TimeTop 10 Must-Know Facts About Ivanka Trump6 Interesting Ways To Make Money With A Drone8 Superfoods For Growing Hair Back And Stimulating Its GrowthEver Thought Of Sleeping Next To Celebs? This Guy Will Show You10 Extremely Dirty Seas In The World11 Most Immersive Game To Play On Your Table Toplast_img read more

Defence gives Wenger his foundation

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first_img Wenger hopes it is an understanding which can continue to return positive results from the challenges ahead. “We have two clean sheets now in two big games and you never do that without a huge contribution of your centre-backs,” Wenger said on Arsenal Player. “It is a mixture of quality, being calm, confidence and not panicking in very heated situations. “At the moment, they are at their peak in these kind of situations.” Arsenal have certainly developed a mean streak in recent weeks, completing a smash-and-grab raid on Dortmund’s Westfalenstadion with a second-half header from Aaron Ramsey after soaking up plenty of pressure from the home side. Wenger believes it is now a real collective effort from the whole of the team. “There is now a little bit of an extra focus on defending, because we are naturally a team which is built with attacking players, so in the big games, these guys force a bit their natural tendency and so we maybe have a bit more of a defensive urgency,” he said. “Their nature is to turn forwards, the likes of (Mesut) Ozil, (Santi) Cazorla, (Tomas) Rosicky, Ramsey – they all like to attack, but in the big games maybe they focus also on defending well so we can improve.” Press Association The Gunners head to Manchester United on the back of clean sheets against Liverpool and then, most impressively, when securing a 1-0 win in the Champions League away to Borussia Dortmund. The partnership between the 6ft 6in Mertesacker and France international Koscielny has grown in stature and kept club captain Thomas Vermaelen warming the bench. Arsenal’s belief may be growing on the back of every big win, but that in itself can bring added pressure from the terraces – one which Wenger challenged his side to take in their stride. “The more a team progresses, it raises the expectation level, and the players have to live with that,” he said. “But all the teams have to do that, and it is interesting as well because in some way it pushes the team to raise their level, and we do have the quality to do it.” Despite all of Arsenal’s early-season promise, Wenger accepts the acid test of how far they can go in 2014 will come against last season’s champions, who are now showing signs of improvement under the guidance of new manager David Moyes after an eight-match unbeaten run through all competitions. “It is still one of the benchmarks of the season where you judge how strong you are,” said Wenger, whose side last won at Old Trafford back in 2006. “People analyse everything, your behaviour and draw conclusions after the game. It is of course still one of the big games. “You can gain confidence and credit for your behaviour. “We had periods where we did very well at Old Trafford and recently, yes, we have not done so well. “It is a good opportunity to show that we have improved and that we can win there. “That is our target, to go there and win the game.” Wenger feels patience will again be key for his side. “We rush our game less, we do not panic, we have a bit more confidence and it is another good opportunity to show that on Sunday,” added the Arsenal boss. “The confidence level is not set and certain for ever, it goes up and down with recent results of the team. “Because our recent results have been stronger, the confidence levels will be higher. The commitment and the resilience need to be high as well.” Arsenal will wait on the fitness of England midfielder Jack Wilshere, who has been struggling with an inflamed ankle. Mathieu Flamini, though, is expected to feature after recovering from his recent groin problem. Arsene Wenger feels Arsenal’s centre-backs Per Mertesacker and Laurent Koscielny are “at their peak”.last_img read more

Gallagher eager to impress Koeman

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first_img Last season surpassed all expectations for the teenage striker as he became a regular under Mauricio Pochettino, making 20 first-team appearances as back-up to Rickie Lambert. Things have gone awry this season, though, with injury stunting the 19-year-old’s progress. Gallagher has not even been named in the matchday squad since the arrival of Koeman, although he gave the Saints boss a nudge in some style on Tuesday evening. The England Under-20s international’s wonderful strike secured the 10 men of Southampton a 2-1 extra-time win over Blackburn in the Under-21 Premier League Cup final at St Mary’s, where the first-team manager was amongst the 12,356 crowd. “It was unbelievable, that’s all I can really think to say,” Gallagher said, smiling. “I was always thinking throughout the game it would be nice to get one and to get in the way I did was quite special to me. “I’ve had a long injury which has put me back quite a bit this season. It sort of feels like it has just started, but it’s almost coming to an end. “I have always had my focus on the under-21s when I got back fit and I am just looking forward. “We’ve got the league to come now, so hopefully we can do well in that and crack on.” Gallagher is hoping to help Saints end the Barclays Under-21 Premier League strongly, although his performance in front of the on-watching Koeman only strengthens his case for a first-team place. Sam Gallagher put an injury-hit season behind him by inspiring Southampton to Under-21 Premier League Cup glory, netting an exceptional goal which he hopes caught Ronald Koeman’s eye. “Well I know they sort of watch all the under-21 games,” Gallagher said. “You always know you’ve got to impress and do what you can to get in the first team. “Hopefully he (Koeman) enjoyed that one.” Press Associationlast_img read more

The Latest: Murphy approves activities for pro teams in NJ

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first_img May 26, 2020 The NFL’s preseason and training camps wouldn’t begin until midsummer — teams are doing virtual workouts in place of the usual on-field activities because of the coronavirus pandemic. But the NHL is planning ways to complete the 2019-20 season. Should those plans include the Devils, they now can reopen their training facilities.“Professional sports teams in NJ may return to training and even competition — if their leagues choose to move in that direction,” Murphy wrote on Twitter. “We have been in constant discussions with teams about necessary protocols to protect the health and safety of players, coaches, and personnel.”A Jets spokesman said: “We are working closely with Gov. Murphy’s office, the league and our medical staff to establish prudent, health and safety measures for our staff and players. Based on those guidelines, we will begin to open our facility using a phased approach at a time that is the most practical for our operations.”The Giants echoed those sentiments and said: “With today’s announcement by the governor, we are finalizing our plans to reopen the Quest Diagnostics Training Center. We will continue to have as many employees as possible working remotely. For employees who need to return to work at our facility, we expect to begin that process next week, and we will do so in a systematic and safe way that adheres to the state’s guidelines and NFL protocols.” ___Formula One carmaker McLaren says 1,200 jobs will be lost across its entire group’s operations because of the coronavirus outbreak.It was not immediately clear how the cuts would affect the group’s F1 operation. The sport has yet to start its 2020 season amid the pandemic.The McLaren Group says “the cancellation of motorsport events, the suspension of manufacturing and retail activities around the world and reduced demand for technology solutions have all led to a sudden impact” on its revenue-generating activities.McLaren says the reduced budget-cap level for F1 teams also led to the job losses. Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Gov. Phil Murphy tweeted Tuesday that as long as the NFL’s Giants and Jets and the NHL’s Devils follow health and medical protocols, they could open training camps or even hold competition. The Latest: Murphy approves activities for pro teams in NJcenter_img But the WTT is not affiliated with those tours and does not need to abide by their decisions about when it is OK to compete. No ATP or WTA ranking points are available for its matches.The WTT says it is increasing its prize money to $5 million. That is $1.5 million more than for its 2019 season.The league is bringing all nine of its teams to one site at The Greenbriar in White Sulphur Springs, West Virginia, because of the pandemic instead of having matches around the United States.___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 Associated Press The cuts represent about a quarter of the group’s workforce.McLaren executive chairman Paul Walsh says “we plan to emerge as an efficient, sustainable business with a clear course for returning to growth.”___World TeamTennis says it is planning to allow up to 500 spectators at outdoor matches during its three-week season from July 12 to Aug. 2 at a resort in West Virginia.All tennis events sanctioned by the ATP, WTA and International Tennis Federation are on hold at least until late July because of the coronavirus pandemic.last_img read more