Tag: 上海同城对对碰龙凤

Facing Cataclysmic Changes in Sector Source Media Strengthens its Bench

first_imgManoni will attend quarterly board meetings with the rest of the executive team. He is not a voting board member. Another industry observer who spoke to FOLIO: suggested that Manoni’s corporate officer designation could be intended by Source Media owner Investcorp to signal that a succession plan is being created in the event that current CEO Jim Malkin left the company. According to O’Brien, Manoni was hired by Malkin to replace the outgoing head of the banking division. “Jim Malkin has no plans to leave SourceMedia and is excited to have such a wealth of complementary talent on his executive team,” she said.Manoni himself also dismissed that interpretation. “The banking sector is working through a period of cataclysmic change, and they feel my experience will be helpful,” he said. “I’m not aware of any plans for Jim to be leaving and in fact, he enjoys a solid relationship with Investcorp and the board members with whom I’ve interacted.”Manoni is one of a handful of b-to-b executives who formed companies in the last 12 to 18 months with the intent to partner with private equity firms and create acquisition rollup platforms. But, with the M&A climate troubled, those executives have had to adjust their plans. “The reality is that that transaction market is clearly challenged,” Manoni said. “I believe for the next 15 to 18 months we may see it tighten before it improves. The credit markets are really tight and that will hamper the ability to form a platform company. But this job at Source Media is going to be an intellectually stimulating, challenging and rewarding opportunity, and that’s why I selected it, irrespective of the deal market.” Source Media, the financial-services publishing giant, last month announced it reorganized into four strategic business groups. At the same time, in an innovative restructuring, the publisher of brands like American Banker and The Bond Buyer assigned its editors to “pools,” where they are used according to the group’s need, rather than any single specific brand. Yesterday, the company named a team to head each of those divisions, including—most notably—Doug Manoni, the ex-CEO of Wicks Business Information. Manoni will lead the banking division, which includes the flagship American Banker, a suite of mortgage publications, Cards&Payments and the soon-to-be launched Paymentssource.com. His title will be executive vice president and managing director. At Wicks, Manoni competed directly with Source Media, particularly the portfolio he now leads.The other newly-named division heads are Mike Dukmejian, leading the professional services division which includes Financial Planning, On Wall Street, Employee Benefits News and Accounting Today. He recently joined Source Media from the Fortune/Money Group. Also, Rob Whitaker becomes head of the business technology and securities division, which includes DM Review, Health Data Management and Traders. Mike Stanton, meanwhile, becomes head of the capital markets division, which comprises SourceMedia’s other flagship title The Bond Buyer, and Investment Dealers’ Digest, Asset Securitization Report and Mergers & Acquisitions Journal.Interestingly, Manoni is the only one of the four who carries the designation of corporate officer. It was unclear what duties would be included in that title, or why the other division heads do not have that same status. Source Media spokesperson Anne O’Brien said this in an e-mail: “Doug’s extensive experience in acquiring and selling information businesses means that he will also be active at a corporate level, hence the descriptor in the release.”last_img read more

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New Zealand NASA to initiate next space revolution designed by Rocket Lab

first_imgNASA is all set to launch the next revolution in space something that was long its special preserve. The launch will take place from a paddock in New Zealand’s remote South Island.The rocket-launch range is not just New Zealand’s first of any kind, but also the world’s first private launch range. Designed by “Rocket Lab”, which is one of a growing number of businesses targeting to reduce the cost of space travel, the rocket will be powered by a 3D-printed engine — another first.The 16-metre carbon-cased rocket, being assembled in a small hangar near Auckland Airport, will weight 1,190 kilograms. With fuel and payload, the rocket will be about one-third the weight of SpaceX’s Falcon 1 — the first privately-developed launch vehicle to go into orbit in 2008.”One advantage of New Zealand being this little island nation in the middle of nowhere is that’s the perfect place to launch a rocket,” said Peter Beck, Rocket Lab’s CEO.Ships and planes need re-routing every time a rocket is launched, which limits opportunities in crowded US skies. However, New Zealand, with 4 million people, has only Antarctica to its south.Rocket Lab, part-funded by Lockheed Martin Corp, is aiming for up to one launch a week from around 2018, costing under $5 million each. The cost will be one-10th of typical launch prices now, and vastly increase business access to space.Even NASA, struggling to shift its launch backlog, this month awarded Rocket Lab and rivals Firefly Space Systems and Virgin Galactic contracts totaling $17.1 million to launch tiny satellites into orbit from 2017.In a bid to win Google’s $20 million Lunar X prize for the first company to send a probe that broadcasts images from the moon, Rocket Lab recently signed a deal with Silicon Valley-based Moon Express for sending a rocket to the moon in 2017.Moon Express has already contracted for five launches with Rocket Lab, and plans to send robotic spacecraft continually to the moon for exploration and commercial development of natural resources such as platinum.New launch companies will depend on burgeoning small-satellite industries, as players like Google, Virgin and Samsung plan satellite constellations to carry communications infrastructure and gather data from low-earth orbit.”We’re not about building a rocket; we’re about enabling the small-satellite revolution,” said Rocket Lab’s Beck.One Web, Samsung and SpaceX are planning three separate Internet broadband ventures to provide low-cost Internet from the Himalayas to the Sahara desert. These alone will require 6,000 new satellites in the next four years, Rocket Lab predicts.The Satellite Industry Association says over 200 satellites were launched in 2014, nearly double the previous year.”The market can’t sustain that many; there’s going to be a thinning out of the herd,” said Daniel Lim, vice-president of disruptive innovations at space services provider TriSept Corporation. He is one among many that believe there will not be enough demand to support the increasing numbers of launch companies.Others say launch costs are still too high at around $5 million, when for $40,000 companies can rideshare on a larger rocket to launch a nano-satellite.But space startups have been proving popular with investors. The largest 100 new space companies received more than $2 billion investment in 2015, around four times more than in 2009, according to data from New Space Global.That is still dwarfed by NASA’s $17.6 billion budget last year, but many say small companies offer options and a risk appetite that government agencies cannot.last_img read more

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Telenor plans to sell India business to Idea Cellular Report

first_imgTelenor India, the Indian subsidiary of parent company Telenor, held talks with Idea Cellular for selling its entire India unit in a cashless deal. The deal would include Idea Cellular taking over all the liabilities of the Norway-based telecom operator.Telenor owes the Indian government Rs 1,900 crore in deferred spectrum payments. It also owes Rs 1,800 crore in debt to financial institutions. “The two companies have held negotiations for a transfer of all liabilities and assets without an actual payout,” the Economic Times quoted a source as saying. However, according to other media reports, the talks between the two telecom operators may not lead to a deal being finalised since Idea may not want to add additional debt burden. Idea bought additional spectrum worth Rs 13,000 crore during the spectrum auction in October. Telenor has spectrum rights in Bihar, Jharkhand, UP East, UP West, Maharashtra, Andhra Pradesh, Assam and Gujarat. If the deal comes through, it would result in Idea Cellular gaining 4G spectrum in the 1800 Mh band, while Telenor would exit the Indian market, ET added. Since January this year, Telenor has marked down the value of its India business by about Rs 5,000 crore, whereas the write-down of the value of its license was over Rs 4,000 crore. Telenor did not take part in the recently concluded October spectrum auction, hinting that the company intended to leave the market, where it incurred losses in thousands of crores and struggled to remain afloat. The Idea Cellular stock was trading at Rs 76.10 at around 1 p.m. on Friday, down 1.17 percent from its previous close on the Bombay Stock Exchange.last_img read more

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Intl support for displaced people in Bangladesh inadequate Geneva forum

first_imgThis photo taken on October 7, 2017 shows a solar panel on the roof of a temporary home for Rohingya refugees at the Kutupalong refugee camp in Cox`s Bazar. AFPA global forum in Geneva on Friday called for planning how to face coming disasters in countries like Bangladesh.Participants at the side event of the UNHCR-NGO annual consultation expressed concern at the displacement of the people including Rohingya Muslims who fled Myanmar atrocities, according to a  message received in Dhaka on Saturday.”In the absence of a sustainable source of livelihoods or safe place to reside, many people are forced to flee their homes, including those who have already fled for other reasons such as Rohingya Refugees,” read the background paper of the event.It added that coastal areas are also particularly vulnerable, such as in southern Bangladesh.Dwerlling on the plight of the Rohingya people, Rezaul Karim Chowdhury of COAST Trust Bangladesh said, “The funding is quite low in response to their vulnerability.”He cautioned that 42 per cent of population in Bangladesh would be displaced in case there is climate disaster.“Bangladesh is a victim of climate impact and it is investing around $1 billion per year for adaptation but receiving a very little assistance from international community,” Rezaul Karim added.Addressing the event at the international conference centre of Geneva, Kristen Hite of Oxfam International said there was a need of planning how to face the future disasters.UNHCR and International Organisation for Migration (IOM )are working on global refugees and migration issues, said Madeline Garlick, head of protection, policy and legal affairs section of the UNHCR.The side event was moderated by Atle Soleberg, head of coordination unit of Platform on Disaster Displacement (PDD) currently chaired by Bangladesh.Other speakers there were Nina M Birkeland, senior advisor of Norwegian Refugee Council (NRC), Chirrine El Labbane, communication officer of PDD, and Gopal Krishna Shiwakoti, president INHUREDD Nepal.last_img

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3rd phase polls to 117 upazilas Sunday

first_imgElections to 117 upazila parishads will be held on Sunday in the third phase of the local body polls.Some 11,887,751 voters will be able to exercise their voting rights under 9,298 polling stations in the balloting that is set to begin at 8am and continue till 4pm without any break.In the 117 upazilas, some 340 chairman, 584 vice-chairman and 399 woman vice-chairman candidates are contesting the elections.Besides, 33 chairman, nine vice-chairman and 13 woman vice-chairman contestants have already been elected uncontested in the absence of any valid candidate to oppose them.Though the election commission earlier announced the election schedule for 127 upazilas of 25 districts, the balloting will not be held in 10 upazilas in the third phase on various grounds.”Six upazilas where all candidates have already been elected unopposed don’t require the balloting, while polls to two other upazilas were postponed following a court order and the election to the remaining two upazilas shifted to the fourth phase,” said EC secretaryHelaluddin Ahmed said this at a pre-election briefing at the media centre of the Nirbachan Bhaban in the city on Saturday afternoon.The election to four upazilas will be held based on electronic voting machines completely, he said adding the upazilas are Meherpur Sadar, Gopalganj Sadar, Manikganj Sadar and Rangpur Sadar.He said the election materials including translucent ballot boxes and ballot papers have already been handed over to the presiding officers.”All the necessary preparations have been taken to hold the third phase election in a peaceful manner like the first phase and second phase elections,” EC secretary Helaluddin Ahmed said.The EC has withdrawn three Upazila Nirbahi Officers and nine officers-in-charge (OCs) of police stations from the duty of the third phase polls, he said.Besides, the commission served warning notices to several MPs over violation of the election code, he added.A large number of security members, including police, RAB, BGB and Coast Guard, have been deployed in the election areas since Friday. They are slated to remain so till Tuesday.Additional BGB members were deployed in some upazilas amid the risk of irregularities and deterioration of the law and order in this phase, Helaluddin said.Besides, at least one judicial magistrate was deployed in each upazila and an executive magistrate for every three union parishads for five days to punish any violations of the polls code.A security team comprising of 14-16 members drawn from police, Ansar and VDP will guard each polling station on the day.The Public Administration announced a public holiday in the 117 upazilas for Sunday.The 5th upazila election will be completed in five phases holding polls to some 480 upazilas out of the country’s 492 ones. The EC has so far announced the election schedule for the first four phases.The first phase and second phase elections were held on 10 and 18 March respectively, while the fourth phase polls are scheduled to be held on 31 March.The first upazila election was held in 1985, while the following three were held in 1990, 2009 and 2014.last_img read more

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