Administrator freezes another Woodford fund after bruising day

first_imgWednesday 16 October 2019 10:36 am Woodford declined to comment on the suspension. whatsapp whatsapp Link said would consider options including the appointment of a different investment manager to run the fund, integrating Income Focus into another fund, or winding up the fund entirely. Income Focus is the second Woodford fund to be suspended this year. His flagship WEIF was suspended in June after becoming overwhelmed by investor withdrawals. Anna Menin and Harry Robertson The administrators of Neil Woodford’s money management empire have announced the suspension of another of his funds, the £253m Woodford Income Focus Fund, over fears customers will rush to withdraw their money. Hargreaves Lansdown has come under scrutiny over its support for Neil Woodford (image: Alamy) Share Administrator freezes another Woodford fund after bruising day Read more: Q&A: Why was Woodford’s Equity Income Fund shut down? The move follows the resignation of Woodford as manager of the fund yesterday, a day when the formerly-lauded stockpicker shuttered his investment company and was sacked from his flagship Equity Income Fund (WEIF). Woodford resigned as manager of his Patient Capital Investment Trust (WPCT) a few hours later, and announced he had taken the “highly painful” decision to shutter his investment company shortly afterwards. Link was also responsible for overseeing the suspension of WEIF, but announced yesterday that it had been unable to offload enough of the portfolio’s hard-to-sell assets to guarantee it could resume trading. The company decided to close the fund, sack Woodford as its manager, and remove his name from it. Link said that due to Woodford’s resignation, it “expects that the redemptions in the fund will reach a level whereby it may no longer be able to continue to meet redemption requests without prejudicing the interests of both remaining and redeeming investors”. Shares in WPCT were down almost seven per cent in morning trading. The administrator said it would “decide on the course of action that is in the best interests of all investors”, and that Neil Woodford has “committed to continue to work collaboratively” with Link during the process. Read more: How Neil Woodford’s star came crashing down to earth More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale‘The Love Boat’ captain Gavin MacLeod dies at‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comConnecticut man dies after crashing Harley into live bearnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comlast_img read more

How many people will start using their own bags to avoid the new 5p plastic bag tax?

first_img whatsapp Show Comments ▼ How many people will start using their own bags to avoid the new 5p plastic bag tax? From today shoppers will be charged 5p for every plastic bag they use, but almost a fifth of people surveyed said they did not know they would be charged.According to a survey by market consultancy Future Thinking, 25 per cent of people under 35 were unaware the tax was coming into effect and more than a fifth of under-35s said they would “suck-up” the plastic bag charge and carry on using them now the charge is in place. Madeline Ratcliffe Monday 5 October 2015 1:22 pmcenter_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapWatch President Biden Do Battle With a Cicada: ‘It Got Me’ (Video)The WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorTheFashionBallAlica Schmidt Is The Most Beautiful Athlete To ExistTheFashionBallLoan Insurance WealthGrab A Tissue Before You See Richard Simmons At 72Loan Insurance Wealth whatsapp That still leaves 53 per cent of under-35s who said they’d bring their own bags to avoid paying the charge.The under-35s are less savvy than the over-55s, 79 per cent of whom said they’ll bring their own bags to put shopping in. Overall, 67 per cent of people asked said the levy will work and they won’t get plastic bags at the till.That’s a lot but still less than the government’s target to reduce the number of bags by 80 per cent. Currently 8.5bn plastic bags are used each year.The levy is already in place in Northern Ireland, Wales and Scotland, and the Scottish government in April there had been an 80 per cent reduction in plastic bag usage since the charge was introduced. Sharelast_img read more

End of an era in two Laois schools as well-known principals retire

first_img Previous articleAfter eight years in exile, Glynn is gearing up for Leinster finalNext articleIn Pictures: All-Ireland titles galore for Laois athletes at Special Olympics Ireland Games David PowerA journalist for over 20 years, David has worked for a number of regional titles both as journalist and editor. From Tullamore he also works as a content editor for His heroes include Shane Lowry, Seamus Darby and Johnny Flaherty Rugby RELATED ARTICLESMORE FROM AUTHOR Community Twitter Pinterest WhatsApp End of an era in two Laois schools as well-known principals retire By David Power – 19th June 2018 Ten Laois based players named on Leinster rugby U-18 girls squad Facebook Twittercenter_img TAGSAine O’NeillGaelscoil ThroimeraLiam O’NeillSt Fergal’s Rathdowney Liam and Aine O’Neill at the GAA Annual Congress in The Heritage Golf and Spa Resort.Picture: Alf Harvey. Two Laois schools are on the look out for new principals this week after a husband and wife duo decided to retire simultaneously.Liam O’Neill, who served as GAA President from 2012 to 2015, has taken the decision to retire as principal of Gaelscoil Throimera and his wife Aine O’Neill also decided to call time on her career after 15 years as principal of St Fergal’s Rathdowney.The recently announced retirement of Mr O’Neill as principal of Gaelscoil Throimera will bring to an end a family association with the school which spans over 100 years. Home News Community End of an era in two Laois schools as well-known principals retire NewsCommunity Community WhatsApp With word only recently seeping out that former GAA President Liam O’Neill is to retire as principal of Gaelscoil Thromaire, he said he has been inundated with well-wishes from people. Commenting on his momentous decision, he said: “It comes to everybody, and that’s the way it goes”. “I thought about retirement a couple of years ago and decided if it ever came to the stage that I woke up and wasn’t looking forward to teaching, then I would think about retiring,” Mr O’Neill said. The popular principal said he would hate to have the situation where people were thinking that he should have retired earlier. His departure calls to mind the PT Barnum quote: ‘always leave them wanting more’.Over a forty year spell as teacher and principal at the school, Mr O’Neill has seen many changes there.With a long-held history of Irish in the school, it was decided to switch to a full Gaelscoil and in 1998 it was granted Gaelscoil status. “It was a huge occasion in the history of the school. I think we were one of only two schools ever to do it. The other one was in Clare and I think they have reverted back,” he said. The school has a long affinity with the Irish language, and following the foundation of the State, in January 1923, a more Irish identity was adopted. “The two teachers changed over everything including the roll books to Gaeilge. It must have been a momentous time,” Mr O’Neill said. The transformation into a Gaelscoil appears to have been an inspired one which has ensured the survival of the school when so many small ones have closed in recent years. With just 150 houses in Trumera, keeping a school open with such a small catchment area is undoubtedly a challenge. The future certainly didn’t look bright when numbers dwindled to 23 students at one point. Thankfully the numbers are consistently in their 30s now, and students are travelling from outside the catchment area to attend the school. “It is a huge privilege to teach the children of your friends,” Mr O’Neill said. He said he also had the honour of teaching his own children and those of his family, including current student Donnacha O’Neill, his youngest brother’s son. Not only that, but due to the longevity of his teaching career, he is now teaching children of the children he originally taught. Having been given the huge honour of being President of the GAA from 2012 to 2015, Mr O’Neill said his term outside the school probably gave him a better perspective on retirement, providing  him with a view of the world outside the classroom. He spent eight years in the school as a student, and then 34 years there as teacher and principal. “Over 42 years is a significant amount of time to spend in that building,” he said. There is no doubting that he greatly enjoyed those decades teaching. While the school was always a small one embedded in the local community, it also gave them an opportunity to do things differently. For example, last week the school went on a school tour to London on a day trip at a cost of just €60 per person. They got to see the Tower of London, walk across London Bridge and were back home in Laois that evening.  They have gone on school tours in the past to Paris, Edinburgh, Rome and London and other locations. “I accept that I am part of the past now. I couldn’t have been happier teaching anywhere else. During my time as GAA President I remember telling a group of businessmen that I never worked, as I spent my life in school,” Mr O’Neill said of his career. While he said he didn’t wish to sound soppy, the principal said working with children keeps you young, and he doesn’t recall more than a handful of bad days throughout his career. His retirement dovetails nicely with the Department of Education and Skills’ recent announcement that a new school is going to be built on a 2 acre site beside the hurling club and community hall. He praised the the Board of Management and Fr Hennessy for all their work. He wished the new principal and his colleagues  Fiona ní Bhaoill and Marie ní Mhuirí the best of luck with the new project. His wife, Áine O’Neill has also taken the decision to retire as principal of St Fergal’s College in Rathdowney after 15 years.Liam O”Neill unveils the plaque during his term as GAA President with principal Áine O’Neill at the official opening of the new extension to St. Fergal’s College, Rathdowney. Picture: Alf Harvey.“We came to the decision separately, which doesn’t mean that we didn’t discuss it,” he said. They have no plans on what to do, once they officially retire before the start of the next academic year in September. Undoubtedly both will continue to be active in their local communities for many years to come, though.TributeMeanwhile, Chairman of the Board of Management of St Fergal’s, Cllr John King paid tribute to Ms O’Neill for the work she did in Rathdowney.He described her as a progressive principal with whom he worked closely on a recent playground project at the school.“If we get a new principal who is as good as her, then we won’t be doing too bad,” he said.Cllr King, who is set to become Cathaoirleach of Laois County Council next week, said Ms O’Neill showed an admirable ability to be able to adapt and take on board changes when the VEC system changed to Laois Offaly ETB a number of years back.“She was a very capable principal,” he said. He said she had worked well with the local community and consistently maintained the pupil numbers in the school.SEE ALSO – Laois Walks Festival gearing up for 17th year Pinterest Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ Facebook Five Laois monuments to receive almost €200,000 in government funding last_img read more

The Laois woman who is Head Pastry Chef in The Heritage

first_img Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory The Laois woman who is Head Pastry Chef in The Heritage By LaoisToday Reporter – 2nd July 2019 Pinterest Twitter GAA Facebook Twitter Facebook WhatsApp Pamela Kavanagh joined The Heritage family in Killenard in October 2018 as the hotel’s Head Pastry Chef.Pamela is the hotel’s home grown in house baker growing up on a farm in the heart of the Countryside of Mountrath, Co Laois .Farming gave Pamela an appreciation early on in life of local produce and the benefits of using local ingredients.This passion for food lead to Pamela taking up Studies in Professional Cookery at Irelands leading Catering College DIT, Cathal Brugha Street in the heart of Dublin’s capital.Pamela has honed her experience at many top Hotels and Restaurants  in Ireland such as Shanahans on the Green in the heart of Dublin’s Cosmopolitan area on St Stephens Green and has even worked along side such famous Celebrity Chefs as Gary Rhodes.“We are delighted to have such a passionate individual as Pamela in our team, bringing with her a mix of leading culinary experiences and home grown talents,” said General Manager Ger Alley.“We’re so proud of all of the local Laois suppliers that we use here at The Heritage.“Having experienced Chefs like Pamela on board, who has grown up in Co Laois, surrounded by fresh, organic produce really instils what we are all about.“Providing homegrown, local ingredients to all of our guests through our ever evolving offering is key for us to. We are so lucky to have a team member like Pamela on board who really understands the importance of farm to fork.”The Heritage also uses Laois’s favourite jam by Helen Gee and team, G’s Jam to accompany all of their freshly baked scones and brown bread’s.If you would like to treat yourself to some of Pamela’s fabulous freshly baked breads and scones then why not book in for Afternoon Tea at The Heritage.Afternoon Tea takes place daily and can be booked at 1pm or 3pm for €32 per person.Click here for more info: WhatsApp Home Sponsored The Laois woman who is Head Pastry Chef in The Heritage Sponsored GAA RELATED ARTICLESMORE FROM AUTHOR Previous articleWATCH: Familiar faces appear in new music video shot in LaoisNext articleGlamping spaces now available to book at this year’s Folly Festival LaoisToday Reporter GAA Pinterest TAGSHeritage Hotel Here are all of Wednesday’s Laois GAA results 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshinlast_img read more

Big Canadian dealers dominate debt market: IIAC

The debt market has been one bright spot in otherwise tough financial markets over the past few years, but new data from the Investment Industry Association of Canada (IIAC) shows that the benefits have accrued mainly to the large, integrated dealers. In his latest letter to the industry, IIAC president and CEO Ian Russell details the rise of the bond markets over the past few years, reporting that industry revenue for fixed income trading and underwriting more than doubled in 2008-2009 to $2.8 billion, although it subsequently pulled back a bit after that initial spike. In 2012, IIAC figures show, total industry revenues reached about $2 billion; with trading revenues down from 2009, but underwriting business up. Keywords Bond,  Investment dealersCompanies Investment Industry Association of Canada Share this article and your comments with peers on social media James Langton Related news Feds plan to issue first green bond next year Ontario task force looks to boost industry competition TSX sustainable bond trading gets thumbs up “The gains in revenue and profit from the fixed income business can be traced, first, to trading activity such as market-making activities and securities positioning on their balance sheet to benefit from rising bond prices and widening spreads between long and short-dated maturities (carry trade business) and, second, to debt financing and underwriting as governments and large corporations moved into debt markets to take advantage of attractive borrowing rates,” he says. As a result, debt market revenues rose to represent a record 17% of total industry revenue in 2009, the IIAC says; and, it notes that they have averaged about 12% of industry revenue since then. At the eight large, integrated firms, this business was even more significant, accounting for 20% of revenues in 2008-2009; equaling the total revenue earned by the boutique firms in the same period. Now, it’s down to about 15% of their overall revenues. At the time, the integrated firms generated about 75% of revenues in the debt markets, with the rest coming from Canadian affiliates of the large global investment banks, and some Quebec-based firms that were expanding this business before the crisis hit. Since then, the integrated dealers have boosted their share even further, so that they now account for 85% of the debt market business, with the retail share falling to just 5% from 11%, and the institutional boutiques’ share slipping a little to 10% from 12%. Indeed, the IIAC reports that, in the past year, “there has been a surprising retrenchment in market share” by the Canadian operations of foreign dealers. “This reflects several factors: First, some of the foreign affiliate firms are not as well-capitalized as their Canadian counterparts and have pulled back their Canadian operations, reallocating scarce capital elsewhere within the global financial group; second, the improved market share of the Canadian dealers’ trading also reflects a concerted effort on the part of these firms to execute more secondary trading on electronic platforms, notably CanDeal, in response to growing institutional interest for cost-efficient electronic trading.” Moreover, the bank-owned dealers are the only Canadian firms big enough to participate in the over-the-counter (OTC) interest rate and currency swap markets, which, it notes, have “grown dramatically in recent years to improve returns for lenders and lower financing costs for issuers.” However, in the years ahead, the large, integrated dealers can expect competition in the space to heat up once again. The IIAC says that it expects the Canadian affiliates of the global investment banks to step their commitment to the Canadian debt markets once again “as regulatory capital is built up within these financial groups, and the demand for non-Canadian-dollar investments and financings remains strong in the Canadian markets.” Facebook LinkedIn Twitter read more

Bluewater team officially joins Laurus Investment Counsel

first_img CPPIB reports record return for latest fiscal year Laurus Investment Counsel Inc. announced on Friday today that the team from Bluewater Investment Management Inc. has officially joined the firm. Both companies are based in Toronto. Facebook LinkedIn Twitter The addition of the Bluewater team will provide Laurus with increased investment depth, Laurus says in a news release. Dennis Starritt will join the firm as a shareholder and portfolio manager. “I’ve known Dennis for over twenty-five years,” says Christopher Page, president and chief investment officer at Laurus, in a news release. “His investment acumen, style, and knowledge of the North American equity market will bolster our current investment team and provide significant benefits to our clients in the years to come.” “The investment styles and process of both companies are very harmonious,” adds Starritt. “We certainly expect a seamless integration, with clients of both companies observing little difference in the management of their accounts.” With the addition of Bluewater clients, Laurus will offer a range of North American equity products approaching $400 million in assets under management. Photo copyright: Bloomberg Desjardins buys Montreal boutique firm Hexavest Keywords Asset management companies center_img iA Clarington aims for sleeker, cleaner product lineup IE Staff Related news Share this article and your comments with peers on social medialast_img read more

Bond alternatives spark interest as yield curve flattens

first_img Central banks’ interest rate increases carry great risk Andrew Allentuck Conventional bonds are looking less rewarding as the prospects for a rising yield curve dim. That’s driving investors to what appear to be more rewarding parts of the fixed-income market. Thus, investors are having either to shop down-market and take on risk or quit bonds and move into substitutes to generate capital gains.For example, you don’t get much of a bonus for going long on Government of Canada bonds, which paid 2.38% for 30 years, or just 25 basis points (bps) more than the 2.13% for two years, as of mid-September. Similarly, the yields on senior corporate debt also are compressed. Keywords Fixed-income investments,  Bond young businessman thinking about alternatives rido/123RF Active bond ETFs outpace passive funds Balancing risk in a time of flat yield curvescenter_img What is safety worth to fixed-income investors? Share this article and your comments with peers on social media Related news Facebook LinkedIn Twitter As a result, investors searching for yield are heading for sub-investment grade and non-rated corporate debt as the high-yield market average spread over investment-grade debt was 356 bps at the beginning of September, according to Barry Allan, president and chief investment officer of Toronto-based Marret Asset Management Inc. That’s lower than the average long-term premium over investment-grade debt of 425 bps.“Spreads are below average for the late cycle bond market,” Allan explains. “Default rates are low, but there are warning signs, such as the flattening yield curve, record equities prices and multiples, little breadth in the equity market driven by a few tech names, and manias such as bitcoin and marijuana stocks.”Thus, the push is on to find fixed-income alternatives. The candidates are preferred shares, real estate investment trusts (REITs) and mortgage investment corporations (MICs). All march to different drummers than those that drive stocks and conventional bonds.The preferred share market can thrive when interest rates rise because the most popular form of preferred shares, rate reset issues, can add payout and thus show rising prices when specified rates, such as the five-year Canada bond, go up. We are in a flat yield curve environment, so “the spreads on preferred shares are low,” says James Hymas, president of Hymas Investment Management Inc. in Toronto.The S&P/TSX preferred share index began September at 712, up from 698 at the same time in 2017. The modest 2% gain reflects the essentially short nature of the five-year resetters, Hymas explains. For the second quarter, Canadian preferred shares turned in a less than inspiring performance, up by 0.85% for the period. That beat conventional bonds, which were up by just 0.5% for the period. But conventional bond indices, which are heavily weighted toward government issues, offer liquidity that preferred shares, which are largely a retail product, cannot match.Meanwhile, REITs don’t provide fixed-income, per se, but what amounts to participating income in rents paid by tenants in apartment buildings, shopping centres and office buildings. REITS’ fortunes depend on the underlying assets. As an asset class, REITs are doing well. The largest, RioCan REIT, was up by 6% for the 12-month period ended Aug. 31 while the broader S&P/TSX capped REIT index was up by 11% for the same period. REITs are equity participants at the end of the line of secured lenders. Units trade like stocks and many of the largest are liquid. But they behave like leveraged fixed-income hybrids.Investors willing to give up the liquidity that bonds and preferred shares offer can reach for yield in less liquid MICs. Each MIC is a pool of capital that invests in private mortgages. Compared with investment-grade bonds, they are risky; compared with conventional preferred shares and preferred share mutual funds, they are illiquid. Most MICs invest in high-yield, uninsured residential mortgages, although rules allow them to hold up to a quarter of their assets in actual real estate.Romspen Mortgage Investment Fund, one of the larger MICs, posted a 7.8% return for the first two quarters of 2018, slightly less than its 7.9% return in all of 2017. This MIC’s minimum investment is $150,000 and is restricted to accredited investors. Redemptions are monthly unless demand for cash exceeds 3% of fund assets, according to the fund’s regulatory information. Romspen Mortgage Investment Fund has $2.4 billion in assets, making it one of the larger MICs in Canada.Although Romspen Mortgage Investment Fund is a good news story, MICs, which often hold speculative construction loans, are clearly in the high-risk, fixed-income category, says Derek Moran, head of Smarter Financial Planning Ltd. in Kelowna, B.C.This is the second in a four-part series on fixed-income investing.last_img read more

Change of Her Majesty’s Ambassador to Iceland Bryony Mathew

first_imgChange of Her Majesty’s Ambassador to Iceland Bryony Mathew Dr Bryony Mathew has been appointed Her Majesty’s Ambassador to the Republic of Iceland in succession to Mr Michael Nevin who will be transferring to another Diplomatic Service appointment. Dr Mathew will take up her appointment during August 2021.Curriculum vitaeFull name: Bryony MathewMarried to: Paul MathewChildren: One daughter and one sonDatesRole2020 – presentFCO, Deputy Director Operations, COVID-19 Taskforce2019 – 2020FCO, Head of Resourcing Strategy, Human Resources Directorate2019FCO, Head of Section, Greece and Cyprus, Europe Directorate2016 – 2018FCO, Deputy Commissioner of the British Indian Ocean Territory (BIOT) and Head of Policy Section2013 – 2016Phnom Penh, Deputy Head of Mission and HM Consul2009 – 2013Beijing, Second Secretary, Climate Change and Energy2008Bangalore, Head of Science and Innovation, British Trade Office2006 – 2008FCO, Desk Officer for EU-Africa, Africa Directorate2005 – 2006FCO, Desk Officer, Public Diplomacy2005Joined FCO /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Africa, Ambassador, Beijing, climate change, Commissioner, Cyprus, diplomatic, EU, Europe, Government, Greece, Iceland, India, innovation, Phnom Penh, resources, Secretary, UK, UK Governmentlast_img read more

Window cleaning boss banned after failing to account for £1.7m

first_imgWindow cleaning boss banned after failing to account for £1.7m Nicola Bentley (39), from Oxted, Surrey, was the sole director of Stephenson’s (National Window Cleaning) Ltd and has now been disqualified from being a company director for 7 years. Her ban is effective from 31 December 2020.The company was incorporated in January 2017 and provided window cleaning services, predominantly for bookmakers.The window cleaners traded for 2 years but in January 2019 entered into creditors voluntary liquidation and Nicola Bentley’s conduct was referred to the Insolvency Service for further investigations.The Insolvency Service found that from February 2018 until the company went into liquidation, Nicola Bentley’s company had spent almost £1.7 million.Nicola Bentley, however, failed to preserve accounting records and investigators could not determine if the amount was for legitimate business expenditure.The investigation discovered that almost £640,000 had been transferred out of the company bank account to three unknown bank accounts. Nicola Bentley had also failed to keep any records that could identify the source of almost £1.7 million paid into the company bank account and whether it was legitimate business income.From June 2017 to January 2019, the window cleaning company failed to pay all its tax obligations, with more than £405,000 being owed. Despite more than £2.1 million being paid out of the company bank account, only £1,000 was paid to the tax authorities in relation to its increasing VAT debt.On 10 December the Secretary of State accepted an undertaking from Nicola Bentley after she did not dispute that she failed to keep sufficient accounting records and did not settle the company’s tax liabilities.Nicola Bentley is now banned from being a director of a company or, whether directly or indirectly, be concerned or take part in the promotion, formation or management of a company unless she has leave of the courtLawrence Zussman, Deputy Head of Insolvent Investigations, said:Maintaining company records is a statutory requirement for every business but despite millions passing through Nicola Bentley’s company bank account, she failed to provide information about her income and expenditure. The company owed a significant amount of tax yet paid only a minimal amount towards its tax obligations.Nicola Bentley totally disregarded her responsibilities as a director of Stephenson’s and has now been banned from the business environment for seven years.NotesNicola Bentley’s date of birth is November 1981.Stephenson’s (National Window Cleaning) Ltd (Company Reg no. 10553769).Disqualification undertakings are the administrative equivalent of a disqualification order but do not involve court proceedings.Persons subject to a disqualification order are bound by a range of other restrictions. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:ban, bank, business, court, director, Discovery, dispute, environment, Government, investigation, Lawrence, Secretary, secretary of state, tax, UK, UK Governmentlast_img read more

LG set for second-screen smartphone

first_img AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 17 JAN 2019 LG plays to next-gen features in latest flagship LG Electronics is reportedly planning a smartphone with an option for “second screen attachment”, providing an alternative to anticipated flexible screen devices in the quest for larger displays.According to CNet, the device will have an option for a “sort of case with a screen”, which could potentially double the size of the screen available to users. LG has previously dabbled with different screen formats, for example with the dual display V10 which featured a smaller always-on screen.The report suggested that LG will unveil multiple devices at MWC Barcelona next month. It is unclear if the multi-screen support will feature in its anticipated G8 flagship, or will be for a separate device.And as with key rival Samsung, LG has also been linked with a foldable smartphone. Both South Korean companies were at the forefront of curved screens, and within LG is a dedicated display business.LG’s woes in the mobile market have been well documented: the company has suffered a period of prolonged losses, despite having released a number of well-regarded smartphones. With Samsung set to announce its new flagship in the week ahead of the Barcelona event, the company will go up against rivals such as Huawei in the battle to secure headlines. Subscribe to our daily newsletter Back Author Devices Previous ArticleUS investigates Huawei on trade secret claimsNext ArticleFlexible screen to power Razr revival Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more Relatedcenter_img Qualcomm strikes LG patent deal following spat HomeDevicesNews LG set for second-screen smartphone Steve Costello KT makes LG Electronics trade-in move Tags LGlast_img read more