Business loss – Loro Dinapoli http://lorodinapoli.org/ Fri, 23 Sep 2022 08:52:25 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 http://lorodinapoli.org/wp-content/uploads/2021/07/icon-2021-07-06T154208.998-150x150.png Business loss – Loro Dinapoli http://lorodinapoli.org/ 32 32 Asia’s largest corporations fail to make the connection between biodiversity loss and corporate survival: study | News | Eco-Enterprise http://lorodinapoli.org/asias-largest-corporations-fail-to-make-the-connection-between-biodiversity-loss-and-corporate-survival-study-news-eco-enterprise/ Fri, 23 Sep 2022 08:49:00 +0000 http://lorodinapoli.org/asias-largest-corporations-fail-to-make-the-connection-between-biodiversity-loss-and-corporate-survival-study-news-eco-enterprise/ Climate risk may have exploded onto the corporate agenda in Asia in recent years, but the importance of biodiversity to business has yet to be taken on board by the region’s boards. According to the Asian Markets Biodiversity Report by environmental consultancy Nature Positive. The research examined the reports and websites of 192 companies listed […]]]>

Climate risk may have exploded onto the corporate agenda in Asia in recent years, but the importance of biodiversity to business has yet to be taken on board by the region’s boards.

According to the Asian Markets Biodiversity Report by environmental consultancy Nature Positive.

The research examined the reports and websites of 192 companies listed on four stock exchanges and documented the number of companies referencing biodiversity, where biodiversity featured in materiality assessments, and the efforts companies made to make about their impact on nature.

Percentages of listed companies in Thailand, Hong Kong, Japan and Singapore that mention biodiversity in their reports and websites. Green indicates mentions, gray no mention. Source: Biodiversity Report of Asian Markets

Seventy percent of companies referenced biodiversity in some way, but only 42% highlighted nature as a material issue. Of the companies that consider biodiversity an important issue, only a handful (4%) consider nature a priority for their business and have goals to reverse biodiversity loss.

More than a fifth of businesses (22%) seem to be using biodiversity as a buzzword, with no connection between nature and how businesses depend on it for survival, according to the report.

Japanese companies are by far the regional leaders in viewing biodiversity as a business issue, and their common use of the term in company filings has skewed the overall data, the report’s authors noted.

The companies most attentive to biodiversity are those that have already faced biodiversity-related crises.

Supakorn Ekachaiphiboon, Assistant Vice President, Sustainability, Stock Exchange of Thailand

“I think businesses struggle to understand their biodiversity impacts and dependencies and there is this misconception that this only applies to agriculture and food businesses,” said program manager Pei Ya Boon. regional conservation funder for the non-profit Wildlife Conservation Society, who was interviewed for the study.

Asian real estate companies – which typically suppress biodiversity as they grow – refer to nature most often in their corporate documents [click to enlarge]. Source: Biodiversity Report of Asian Markets

Although some companies run conservation programs, the report found no evidence of companies auditing their biodiversity impacts, making it difficult to assess the effectiveness of these programs in offsetting their impacts on biodiversity. nature.

The report’s authors noted that the focus on reducing carbon and emissions may have left companies with little bandwidth to consider the value of biodiversity to their operations.

Nature Positive chief executive Dr Stephanie Wray said while it was heartening to see some companies talking about biodiversity in a region losing natural areas as quickly as anywhere on the planet, it was doubtful that ‘they are taking significant steps to counter their impact on nature.

It is only recently that the corporate world has begun to make the connection between biodiversity loss and business survival. Businesses depend on healthy ecosystem services for their production processes, to maintain soil, water and air quality, and to build resilience to climate change.

The Asian listed companies most likely to recognize this link are those directly dependent on nature, such as basic consumption, energy and materials. Companies with a less obvious connection between their industry and their nature, such as information technology and healthcare, were the least likely to recognize biodiversity as a material problem, according to the study.

“Companies that pay greater attention to biodiversity impacts are generally those that have either faced crises related to biodiversity issues or can clearly see the connection between their business activities and biodiversity risks,” said said Supakorn Ekachaiphiboon, assistant vice president of sustainability at Stock. Exchange from Thailand.

Singapore-listed palm oil company Wilmar, which is committed to eliminating deforestation from its supply chain, has been noted for its efforts to educate its supply chain on biodiversity impacts , while the Philippine utility Manila Water was highlighted as one of the few companies to conduct a biodiversity audit. .

The report emerges ahead of the United Nations Convention on Biological Diversity (COP15 also known as the “nature COP”) in Montreal in December, where world leaders are expected to negotiate an agreement to address biodiversity loss. The agreement aims to establish a framework for the production and consumption of natural resources that could have implications for how businesses are run in Asia-Pacific.

The Nature Positive report suggests that frameworks such as the Task Force on Nature-Related Financial Disclosures (TNFD) and tools such as Nature Science Goals would help Asian companies better assess their relationship with biodiversity.

“Until we have common industrial frameworks [such as TNFD and science-based targets for nature] provide guidance and clarity I think [biodiversity] target setting will be limited,” said Sue Mulhall, global head of biodiversity and business partnerships, BirdLife International, a conservation group.

The report’s authors called on businesses in the region to assess how they depend on and impact nature and set biodiversity restoration targets.

A 2021 report by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) revealed an unprecedented decline in the natural world and a record rate of species extinctions. Nature has declined by 45% in Asia-Pacific since 1970, according to a report by the World Wide Fund for Nature.

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Mark Zuckerberg is only the 20th richest person http://lorodinapoli.org/mark-zuckerberg-is-only-the-20th-richest-person/ Wed, 21 Sep 2022 16:12:08 +0000 http://lorodinapoli.org/mark-zuckerberg-is-only-the-20th-richest-person/ Meta CEO Mark Zuckerberg’s net worth has plummeted by 1.2 trillion rand ($70 billion) this year, so he has been relegated to the 20th richest person in the world. MARK ZUCKERBERG FALLS BACK TO 20TH RICHEST PERSON Business Insider reports that Mark Zuckerberg started the year with a fortune of 2.2 trillion rand ($125 billion). […]]]>

Meta CEO Mark Zuckerberg’s net worth has plummeted by 1.2 trillion rand ($70 billion) this year, so he has been relegated to the 20th richest person in the world.

MARK ZUCKERBERG FALLS BACK TO 20TH RICHEST PERSON

Business Insider reports that Mark Zuckerberg started the year with a fortune of 2.2 trillion rand ($125 billion). However, according to Bloomberg’s Billionaires Index, it fell 55% to 979 billion rand ($55.3 billion).

Meta, the owner of Facebook, Instagram, WhatsApp and Oculus has had a tumultuous year. This was after Zuckerberg announced he would become a “metaverse” company. It then unveiled a massive rebrand in October 2021. However, Facebook experienced its first-ever drop in user numbers as they lost around one million active users in the last quarter of 2021.

Meta’s net income is reported to have fallen by more than 53 billion rand ($3 billion) in the second quarter, compared to the same period in 2021. The company revealed that it spent more than 170 billion rand ($10 billion ) in Metaverse investments in 2021.

“For us, the metaverse business isn’t really going to be a significant contributor to the business until at least much later in this decade, and probably realistically this decade is going to be about laying the groundwork for that, and then the 2030s will be really where it’s going to contribute a lot to the profits of this company,” Zuckerberg said at the company’s annual meeting of shareholders in May.

Mark Zuckerberg falls to the 20th rank of the richest people in the world. Image via Instagram @zuck.

ALSO READ: R2.6 Billion Net Worth: Who Is SA’s Richest Woman Wendy Appelbaum?

THE RICHEST IN THE WORLD

According to Bloomberg’s Billionaires Index, Zuckerberg is now the 20th richest person in the world behind Walmart co-founder Sam Walton’s three children:

  • Jim Walton
  • Rob Walton
  • Alice Walton

So who are the five richest people?

  • Elon Musk is still the richest person in the world with a net worth of $268 billion. It is followed by:
  • Gautam Adani: 2.6 trillion rand ($150 billion)
  • Jeff Bezos: 2.5 trillion rand ($145 billion)
  • Bernard Arnault 2.4 trillion rand ($137 billion)
  • Bill Gates 1.9 trillion rand ($111 billion)

READ ALSO :SA’s’ richest teacher: outcry over Lulu Menziwa’s nude posts

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ODU Football loses a Heartbreaker as Virginia rallies to win, 16-14, on a last-second basket http://lorodinapoli.org/odu-football-loses-a-heartbreaker-as-virginia-rallies-to-win-16-14-on-a-last-second-basket/ Sun, 18 Sep 2022 00:13:40 +0000 http://lorodinapoli.org/odu-football-loses-a-heartbreaker-as-virginia-rallies-to-win-16-14-on-a-last-second-basket/ History links Next game: Arkansas State 09/24/2022 | 6 p.m. ODU Sports Radio Network Sept. 24 (Sat) / 6 p.m. Arkansas State Story By Harry Minium CHARLOTTESVILLE- Old Dominion were 61 seconds away from what would have been one of their biggest ever […]]]>

By Harry Minium

CHARLOTTESVILLE- Old Dominion were 61 seconds away from what would have been one of their biggest ever football wins.

The Monarchs silenced a crowd of 40,556 at Scott Stadium with an 11-game, 80-yard drive, capped off by by Hayden Wolff 18-yard touchdown pass to Zack Kuntzwhich gave the Monarchs a 14-13 lead over Virginia with 1:01 to go.

For a few moments, the nearly 2,000 Monarch fans in attendance held court, as their shouts of “ODU” echoed around the stadium as Virginia fans watched in stunned silence.

But led by standout quarterback Brennan Armstrong, the Cavaliers rushed for 56 yards in the final minute to set up a 26-yard field goal from Brendan Farrell that gave Virginia a 16-14 victory.

Kuntz, who is 6-foot-8, lined up with the extra-point block team and the kick sailed a foot or two above his outstretched hands.

A win would have given ODU (1-2) a clean sweep of the state’s two ACC schools. The Monarchs upset Virginia Tech, 20-17, in their season opener two weeks ago.

It was a heartbreaking way to lose, but the coach Ricky Rahn said at the end, every loss hurts.

“I mean, they’re all hurting,” said Rahne, head coach of ODU’s Thurmond Family. “It doesn’t matter how they end.

“Our defense made plays all day. But a veteran quarterback made a few plays late that gave his team a chance to win.

GWFG

“It was a good game of football with two teams really fighting. In the end, we didn’t do enough to win the game.”

Armstrong (20 of 37 passes for 284 yards) became Virginia’s all-time leading passer.

Wolff played perhaps his best game of 2022, completing 23 of 37 passes for 235 yards and two touchdowns

But the Monarchs were unable to mount sustained drives and the running game, while more productive than it was last week at East Carolina, produced just 89 net yards.

ODU’s other touchdown came on a 32-second, 64-yard drive late in the first half, during which Wolff completed a 28-yard touchdown pass to Ali Jennings III.

“We had chances to make plays all day,” Rahne said. “We were moving the ball but then we would do something stupid.

“We have to score more points.”

ODU gave up 513 yards, but its defense kept the Monarchs in the game by forcing and recovering fumbles on three Virginia drives in the red zone.

“This one really hurts,” Wolff said. “Our defense played against a top NFL quarterback, and they played lights. They forced turnovers, they gave us opportunities.

“As an offense, we just left too much on the pitch.

“This one hurts, knowing he was there for us and we didn’t.”

Landing Ali Jennings

The final two practices of the match had fans of both teams on their feet.

ODU started its final ride on the Virginia 20 and converted twice on fourth down. The first came on a 22-yard pass to Kuntz that gave ODU a first down at his 44.

Then, on fourth-and-15 at Virginia 33, Wolff moved to an open Jennings, who was dragged down by a Cavaliers defender before he could fire the pass. A pass interference penalty gave ODU a first down at 18.

Two plays later, Wolff connected with Kuntz for the touchdown.

Virginia’s Nick Jackson caught the ensuing kickoff deep in the end zone and players usually settle for a touchdown when they’re that deep.

But he returned the kick and found a seam that gave Virginia a first down at 37.

“I bet if I go back and watch the tape, there’s some (ODU) guys who slowed down because their turner put his hands up like he was going to give up,” Rahne said.

“I’m pretty sure most of the guys on their team thought they were going to give up.”

Armstrong then threw a 30-yard pass to Lavel Davis Jr. and the Cavaliers were in business.

Breakaway recovery

ODU hosts Arkansas State Saturday at 6 p.m. in its first Sun Belt conference game. The Monarchs need to quickly put aside Saturday’s loss, Rahne said.

“Our team has invested a lot this week to prepare for this game,” Rahne said. “The hard part is sometimes you invest so much, and you don’t get a return.

“But that doesn’t mean you stop investing. We have to go back on Sunday and start investing again. When you do that, it shows the true character of a team.

“And I know the true character of this team.”

REMARKS: Freshman in red shirt chris adams made his first career start as an offensive right tackle… Nick Saldivéri made his 27th career start, but first at offensive right guard… Blake Watson had six carries for 40 yards on the game’s first practice after having had five carries last week at ECU… ODU’s opponent scored first in the first three games this season… Defense forced three turnovers , the second time this season they’ve forced three or more turnovers this season… In the opener against Virginia Tech, ODU had four interceptions and recovered fumbles. The Monarchs forced three fumbles… For the sixth time in his career, Blake Watson had more than 20 litters. He finished with 21 carries for 70 yards… Ali Jennings III just missed his third straight 100-yard receiving game, catching seven passes for 97 yards and a touchdown… Zack Kuntz had his best game reception of the season, catching six passes for 83 yards and a score. Kuntz is the first receiver other than Jennings to score a touchdown… Tariq Sims carried five times for career-best 17 yards… Linebacker Jason Henderson notched his third double-digit tackle game of the season, totaling a game-high 12 saves and a tackle for a loss…Virginia tried to test the cornerback Tobias Harris and he finished with four pass breakups, the second most in a game in ODU history… Denzel Lowry had a career-high five tackles, one sack, one forced fumble and one fumble recovery… Ryan Henry had seven saves, a sack and a forced fumble.

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IRCTC causing a loss to the Treasury by not issuing an invoice: tax adviser http://lorodinapoli.org/irctc-causing-a-loss-to-the-treasury-by-not-issuing-an-invoice-tax-adviser/ Fri, 16 Sep 2022 08:04:00 +0000 http://lorodinapoli.org/irctc-causing-a-loss-to-the-treasury-by-not-issuing-an-invoice-tax-adviser/ The Indian Railway Catering and Tourism Corporation (IRCTC), a public sector company under the Ministry of Railways, is causing losses to the treasury by not issuing bills to consumers for food sold on trains, said Friday a tax adviser. In a letter to Union Finance Minister Nirmala Sitharaman, Chandigarh-based tax consultant Ajay Jagga said […]]]>

The Indian Railway Catering and Tourism Corporation (IRCTC), a public sector company under the Ministry of Railways, is causing losses to the treasury by not issuing bills to consumers for food sold on trains, said Friday a tax adviser.

In a letter to Union Finance Minister Nirmala Sitharaman, Chandigarh-based tax consultant Ajay Jagga said the Supreme Court had recently issued notices to the central government as part of a plea to fill existing shortcomings in the GST system.

The IRCTC, which sells food on trains, appears to be a similar entity causing huge losses to the public purse, he said.

He said he traveled on the Shatabdi Express to New Delhi from Chandigarh on Thursday. While traveling, he ordered a cup of tea and paid Rs 20 for it.

Later he asked for an invoice. At his insistence, an invoice from Satyam Caterers Private Ltd was issued.

A cup of tea sold without an invoice results in a GST loss of 1re, he said. “Imagine other items like cold drinks, chocolates and food being reserved on the train without issuing bills,” Jagga, a former member of the tax intelligence unit, told IANS.

Also, he said, servers charged the amount of food in the bill but did not hand the bill to consumers.

“The work of the servers and other IRCTC staff is causing huge losses to the chess boards. On the one hand, we penalize traders for not issuing invoices and on the other hand, the IRCTC does not issue of bills and the number of those transactions, pan-India, would be in lakhs every day,” his letter read.

Earlier, in a letter to the Union Finance Minister, he said the Center should issue the necessary notices to all states for restaurants to stop charging unwarranted extra charges, which were imposed on consumers for items such as pastry, cake, etc.

–IANS

vg/dpb

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Mistakes and big plays cost Cheboygan a road loss at Sault Ste. Married http://lorodinapoli.org/mistakes-and-big-plays-cost-cheboygan-a-road-loss-at-sault-ste-married/ Sun, 11 Sep 2022 12:20:09 +0000 http://lorodinapoli.org/mistakes-and-big-plays-cost-cheboygan-a-road-loss-at-sault-ste-married/ SAULT STE. MARY – The momentum was there for the Cheboygan Chiefs at halftime. After a long touchdown, which was then followed by a great defensive play, the Chiefs were in business, trailing only 14-8 in Sault Ste. Married. However, the one big problem the Chiefs haven’t been able to solve so far this season […]]]>

SAULT STE. MARY – The momentum was there for the Cheboygan Chiefs at halftime.

After a long touchdown, which was then followed by a great defensive play, the Chiefs were in business, trailing only 14-8 in Sault Ste. Married.

However, the one big problem the Chiefs haven’t been able to solve so far this season – limiting big plays – has haunted them again.

Once the Chiefs gave up those big plays at key moments, they couldn’t stay within striking distance of the Blue Devils, who improved to 3-0 with a 35-8 home win on Friday night.

“We gave up big plays on defense, it hurt us,” Cheboygan coach Dave Schulz said. “Offensively, again, we had some great shots, but we didn’t finish those shots in the end zone, we didn’t execute well enough, and the Sault won.

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Banks see strong demand for Citrix debt after discount – sources http://lorodinapoli.org/banks-see-strong-demand-for-citrix-debt-after-discount-sources/ Fri, 09 Sep 2022 21:12:00 +0000 http://lorodinapoli.org/banks-see-strong-demand-for-citrix-debt-after-discount-sources/ The Citrix Systems logo is seen on a smartphone placed over US dollars in this illustration taken January 31, 2022. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register Sep 9 (Reuters) – Banks seeking to sell some of the debt backing the $16.5 billion leveraged buyout of enterprise software company Citrix Systems […]]]>

The Citrix Systems logo is seen on a smartphone placed over US dollars in this illustration taken January 31, 2022. REUTERS/Dado Ruvic/Illustration

Join now for FREE unlimited access to Reuters.com

Sep 9 (Reuters) – Banks seeking to sell some of the debt backing the $16.5 billion leveraged buyout of enterprise software company Citrix Systems Inc (CTXS.O) to investors have received more demand than they can meet, raising the possibility that they will incur a smaller-than-expected loss, people familiar with the matter said on Friday.

Banks led by Bank of America Corp (BAC.N), Credit Suisse Group AG (CSGN.S) and Goldman Sachs Group Inc (GS.N) agreed in January to provide $15 billion in risky debt to investment companies. investment Vista Equity Partners and Elliott Investment Management LP for the acquisition of Citrix.

As with all such transactions, banks syndicate debt to investors to get it off their books and recycle their capital. But the market turned after the deal was signed as runaway inflation led central banks to raise interest rates.

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This made Citrix’s debt too cheap in the eyes of investors, forcing banks to discount it when syndicating. The deal has become a key test for banks that are being asked to fund big leveraged buyouts. Many are awaiting the outcome of Citrix’s syndication before taking on new debt commitments.

Banks are currently only syndicating a slice of Citrix’s $15 billion debt package as they assess investor demand. They are marketing a $4.05 billion term loan with an annual interest rate 450 basis points above the SOFR benchmark, the sources said. Their books taking orders for this loan were oversubscribed, the sources added.

The banks reduced the loan to 92 cents on the dollar, which would mean a collective loss for them of hundreds of millions of dollars, the sources added. But strong demand, likely fueled by investor optimism that the junk debt market is stabilizing, could lead banks to offload debt at a lower discount or sell more than they had. originally planned, so they have less to sell down the line. , according to sources.

It is also possible that the banks will sell the debt as originally marketed to investors, the sources said, requesting anonymity as the matter is confidential. Bank of America, Credit Suisse and Goldman Sachs declined to comment.

Investors have until September 19 to commit to the Citrix loan.

Banks have even more Citrix debt on their books that they are looking to offload onto investors. This includes a euro loan equivalent to $500 million, as well as a bank tranche of $3.5 billion and a second lien term loan of $3.95 billion. The banks also plan to sell some $3 billion worth of Citrix bonds to investors next week.

Most banks hold leveraged buyout debt on their books until the market improves. Only a handful of loans have been syndicated this year at a significant discount. That includes drugmaker Covis Pharma’s $595 million term loan that was sold in February at 90 cents on the dollar.

Jitters in the junk debt market weighed on the ability of private equity firms to make new acquisitions. One example was NCR Corp (NCR.N), a maker of cash registers and ATMs with a market capitalization of $4.3 billion with which buyout firm Veritas Capital struggled to negotiate a deal, in partly because of the difficulty in securing enough debt for an acquisition, according to people familiar with the matter.

Join now for FREE unlimited access to Reuters.com

Reporting by Matt Tracy in Washington and Abigail Summerville in New York; Editing by Greg Roumeliotis and Jonathan Oatis

Our standards: The Thomson Reuters Trust Principles.

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How small businesses can stave off the job loss epidemic http://lorodinapoli.org/how-small-businesses-can-stave-off-the-job-loss-epidemic/ Tue, 06 Sep 2022 07:06:05 +0000 http://lorodinapoli.org/how-small-businesses-can-stave-off-the-job-loss-epidemic/ This article originally appeared in issue 30 of IT Pro 20/20, available here. To sign up to receive each new issue in your inbox, Click here At first glance, it might seem like the UK startup ecosystem is booming. The UK created a record number of unicorns in 2021, with more than two unicorns – […]]]>

This article originally appeared in issue 30 of IT Pro 20/20, available here. To sign up to receive each new issue in your inbox, Click here

At first glance, it might seem like the UK startup ecosystem is booming. The UK created a record number of unicorns in 2021, with more than two unicorns – a business worth at least $1bn (about £758m) – being created each month on average. Similarly, investment in the UK’s tech sector hit record highs last year, bringing in more than France, Germany and Israel combined.

Due to growing economic uncertainty, however, a different and much less rosy picture is emerging in 2022. This uncertainty, combined with other factors such as Brexit and the post-COVID-19 reset, means that capital- venture capitalists (VCs) have become increasingly cautious as startups begin to bear the consequences.

“The current economic downturn, which has caused some of the world’s largest companies like Tesla, Netflix and Uber to announce hiring freezes and layoffs, will inevitably affect all businesses, large and small,” says Ekaterina Almasque, General Partner at European Series. at VC, OpenOcean. “With the high cost of doing business and fears of a global recession, startups will find venture capital funding much harder to come by than in previous years.”

Job losses on the horizon

Freetrade, the London-based trading platform, recently announced it was laying off 15% of its staff, saying the “difficult decision” was necessary as “global stock markets have fallen and funding for companies like ours has slow motion”. London HQ’d Curve, a digital wallet aggregator, laid off between 60% and 70% of people, says CEO Shachar Bialick Thames the company had made the decision “with the aim of putting us in the best possible position for growth in the second half”.

Similarly, London-based casual recruitment platform Stint has confirmed that 20% of its 140 employees are at risk of being made redundant, Zapp, a UK fast-delivery grocery startup, recently said it was considering redundancy. up to 10% of its staff, and Cazoo – once one of the UK’s best-funded new tech companies – said it plans to cut its workforce by around 15% and slow the pace of hiring new staff as part of a major cost-savings drive, the majority of job losses ahead are taking place across all of its UK operations.

“The combination of rising inflation and interest rates with supply chain issues caused by the pandemic and war has driven up the cost of living and undermined consumer confidence,” says Alex Chesterman , founder and CEO of Cazoo. “This perfect storm put cash conservation at the forefront of the corporate mindset, ahead of growth.”

This is not a problem limited to the UK, with more than 28,000 US tech workers who have been made redundant so far in 2022. It is clear that other startups and small and medium-sized enterprises (SMEs) have to learn from the massive layoffs taking place in the UK startup sector to ensure they don’t become the next victim.

Funds are drying up

One of the biggest and most obvious factors behind the massive layoffs seen in 2022 is the current economic crisis; rising energy costs, COVID-19, Brexit and supply chain disruptions have contributed to a continued deterioration in economic conditions. SMEs have been disproportionately affected, with companies in “critical financial distress” increasing by 19% so far this year.

“The reason small businesses are likely to suffer in 2022 is because their main source of funds is provided by venture capital firms,” ​​said Samuel Leach, founder and managing director of Samuel and Co Trading. IT professional. “Their reliance on cash from ‘collection’ may prove problematic during the year. And as inflation rises, we may see a potential recession on the horizon, which makes less likely for investors, banks and financial institutions to part with their capital, regardless of the company’s potential.

“The number of transactions is expected to be 6,904, down 22% from the previous quarter, and the continued decline in venture capital funding and the lack of liquidity are expected to further weigh on small businesses.”

Andy Oury, Partner at Oury Clark Chartered Accountants, adds: “The bubble has burst on endless cheap money. A perfect storm of shocks saw venture capital money dry up somewhat. Of course, uncertainty affects all businesses, but it is small businesses that are paying the price. »

Damian Hanson, co-founder and director of CircleLoop, believes the shift to hybrid working has also played a role as SMBs and startups struggle to adapt to widespread demand for flexibility. “Unfortunately, while it sounds simple in theory, implementing this hybrid work to benefit employees as well as company revenue is something that has gone awry for a number of companies this year,” said he declared. IT professional.

“Many startups and SMEs have taken up the challenge by committing to a hybrid working model with the aim of evolving with the times. If only it were that simple. Too many SMBs have learned the hard way that it takes more than just commitment to make hybrid working a success.

How to avoid becoming the next victim

Startups and SMEs must act now to ensure they are not the next victim, says Henrik Grim, MD Europe for Capchase. He says IT Professional there is a rapidly growing alternative finance scene that could help companies avoid downsizing, which is, in many cases, counterproductive.

“If you need capital to weather an economic storm, there are options available,” he says. The startup scene is not entirely dependent on venture capital to fuel growth. In 2008, the collapse in funding meant that new startups were stymied, failures exacerbated and growth severely curtailed. Now, however, there are dozens of companies offering numerous ways for viable startups to continue raising capital. Traditional finance is also very different, with bank loans being a real option for many startups.

Grim adds that the tech downturn is likely to be very uneven, affecting some types of startups more than others: very difficult times. However, pure technology companies – such as software as a service (SaaS), cybersecurity and many fintech startups – will be much less exposed.”

For startups looking to pursue more traditional funding methods, Almasque notes that they need to go beyond buzzwords: “They need to demonstrate that they solve real problems; improve the efficiency of IT infrastructure, solve data analytics problems, or otherwise improve people’s lives in a tangible way. »

Leach adds that while it’s clear that all small businesses have no reason to panic right now, developing a contingency plan is key to enabling them to allocate company budgets more efficiently. . “The four main areas that companies should watch and focus on are enterprise debt, decision making, digital transformation and workforce management,” he said. IT Professional. “Avoiding the massive layoffs we’ve seen recently is due to poor planning and poor change management.”

According to Dutta Satadip, Chief Customer Officer at ActiveCampaign, startups can also weather the current economic storm if they focus on providing a superior customer experience to their competitors. “A lot of SMEs and entrepreneurs have a lot to gain from the big brands, especially from the ‘small store’ movements,” he says. “People understand the impact having a small business backing can have and sometimes even go so far as to try to shop outside of the tech giants, which is why offering 1:1 experiences helps build customer loyalty.

“However, to win these customers and keep them coming back as repeat customers, developing radical transparency is essential. Radical transparency starts with keeping customers informed, informing them of delays about circumstances beyond your control to proactively updating them rather than customers suing the company for updates.

It’s not just customers who need to be happy, as Hanson – who warns that a failure to implement hybrid working could also negatively impact UK startups – says a proactive approach to flexibility is also essential. “Each employee’s home set-up should be carefully considered and supported,” Satadip continues. “Without a desk of colleagues to immediately call for help or ad hoc technical support, it’s even more critical that the tools and platforms your business operates on work together seamlessly to eliminate potential friction points. for your staff.”

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Annie Suwan’s Best Outdoor Photos of 90 Day Fiance After Weight Loss http://lorodinapoli.org/annie-suwans-best-outdoor-photos-of-90-day-fiance-after-weight-loss/ Sun, 04 Sep 2022 13:30:00 +0000 http://lorodinapoli.org/annie-suwans-best-outdoor-photos-of-90-day-fiance-after-weight-loss/ Annie Suwan-Toborowsky has always been loved by 90 Day Fiancé fans, and they appreciate the many eye-catching outdoor Instagram photos she posts. Annie Suwan-Toborowsky was a 90 day fiance a staple in the franchise, and she entertained fans with her outdoor photos on Instagram. Annie and her husband, David Toborowsky, starred for the first time […]]]>

Annie Suwan-Toborowsky has always been loved by 90 Day Fiancé fans, and they appreciate the many eye-catching outdoor Instagram photos she posts.

Annie Suwan-Toborowsky was a 90 day fiance a staple in the franchise, and she entertained fans with her outdoor photos on Instagram. Annie and her husband, David Toborowsky, starred for the first time in 90 day fiance season 5 of the series and continues to shine on the spin-off Pillow talk, where the couples chat about each other in the franchise. Even though 90 day fiance Icons Annie and David have struggled in their relationship before, they beat the odds and are now showing their love for each other on social media.

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David and Annie first met at a karaoke bar in Thailand, and many fans thought it was yet another couple of an older man falling for a young girl on vacation. . With an age gap of 24 years, 90 day fiance fans didn’t have much hope for the couple, especially when Annie’s family demanded a large dowry. Since then, David and Annie have overcome many problems encountered on 90 day fiance as they have now settled into their new life together.

Related: 90 Day Fiancé: David & Annie Finally Reveal His Weight Loss Secrets

The couple tied the knot in 2017, making it one of the franchise’s great success stories with nearly five years of marriage. At Annie and David’s Pillow talk the reactions are some of the best, as they both like to be silly with each other and make fans laugh. When they don’t react hilariously to others 90 day fiance couples, couple spending time traveling together. They shared their visits to Nepal, Singapore and Thailand, bringing their fun attitude with them.


Besides being a beloved star among 90 day fiance fans, Annie used her platform to launch her own clothing brand, Boom Bangkok. She showed off several dresses that many fans are excited to get their hands on. The outdoor post not only showed off his new venture, but also Annie and David’s quaint neighborhood in Fountain Hills, Arizona.

Annie De 90 day fiance Shares a photo of herself in a Thai market

Fans love Annie’s endless positivity, which hasn’t just been seen on 90 day fiance but also his Instagram. Annie, who shared some unrecognizable Instagram snaps, looked happy to be home in Thailand. She showed fans her culture with an outdoor market near where they were staying. Annie was all smiles as she shopped for everything from jeans to groceries and Thai snacks.


Annie & David 90 day fiance Love to share their travels

Annie and David have spent much of 2022 traveling the world. The couple traveled to her native Thailand, where she showed David around her country while working to bring some of his family members to the United States. 90 day fiance fans want the best for David and Annie; and are excited to see more of them in their renewed spin-off show.

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Direct physical loss, bad faith failure to adjust coverage update http://lorodinapoli.org/direct-physical-loss-bad-faith-failure-to-adjust-coverage-update/ Fri, 02 Sep 2022 06:44:14 +0000 http://lorodinapoli.org/direct-physical-loss-bad-faith-failure-to-adjust-coverage-update/ Direct physical loss – Washington Hill and Stout, PLLC v. Mut. by Enumclaw Ins. Co.— P.3d —, No. 100211-4, 2022 WL 3651805 (Wash. Aug. 25, 2022) The Washington Supreme Court unanimously found that a business property insurance policy issued to a pediatric dental practice did not cover loss of business income suffered when the dental […]]]>

Direct physical loss – Washington

Hill and Stout, PLLC v. Mut. by Enumclaw Ins. Co.— P.3d —, No. 100211-4, 2022 WL 3651805 (Wash. Aug. 25, 2022)

The Washington Supreme Court unanimously found that a business property insurance policy issued to a pediatric dental practice did not cover loss of business income suffered when the dental practice had to close as a result of the COVID-19 epidemic.

Two dentists operated a practice, Hill and Stout PLLC (Hill and Stout) with two offices. Hill and Stout purchased a commercial property insurance policy from Mutual of Enumclaw Insurance Company (Enumclaw). The policy provided coverage for loss of business income due to “direct physical loss or damage” to property listed in the policy. It also contained a virus exclusion excluding coverage for “loss or damage caused directly or indirectly by ‘”[a]any virus…that induces or is capable of inducing physical distress, illness or disease.

In an effort to stop the spread of COVID-19, the Governor of Washington issued a proclamation banning non-emergency dental care for a period of time. Hill and Stout sought coverage for lost income while their dental offices were closed for all procedures except emergencies and sued Enumclaw for a statement that the policy issued to them covered their loss. business income. The trial court initially denied Enumclaw’s motion to dismiss Hill and Stout’s complaint, but later granted Enumclaw’s motion for summary judgment after discovery. Hill and Stout appealed the district court’s decision directly to the Washington Supreme Court.

The Supreme Court upheld the trial court’s granting of summary judgment. The high court ruled that any loss suffered as a result of the governor’s proclamation did not constitute “direct physical loss”, as required by the policy to allow cover for business income. Specifically, the Supreme Court held that “[i]It is unreasonable to read “direct physical loss of … property” in a property insurance policy to include the implied loss of the intended use of the property. Such a loss is not “physical”. The High Court rejected Hill and Stout’s request to apply a “loss of functionality test” to the claim, noting that Hill and Stout’s cover claim would nevertheless fail under that test.

Although in some cases business income cover may be available to an insured in the absence of physical alterations to the property on the grounds that the property loses its functionality, this was not the case with respect to Hill and Stout offices. The dental offices have suffered neither physical alteration nor physical loss of functionality of the property. “The proclamation did not result in any loss of functionality of the property as it continued to be functional.”

Although the Supreme Court noted that it “did not need to consider” the applicability of the policy’s virus exclusion, it nevertheless held that the virus exclusion applied as it concluded that there was no doubt that the COVID-19 virus, a peril excluded under Enumclaw’s policy, “initiated a chain of causation”, resulting in the losses claimed by Hill and Stout, and was therefore applied to exclude hedging.

Bad Faith Failure to Settle – California

Palma v. Mercury Ins. Co. B309063, 2022 WL 3592722 (Cal. App. Ct. 2d Dist. Aug. 23, 2022)

The California Court of Appeals affirmed the trial court’s order granting summary judgment in favor of defendant Mercury Insurance Company (Mercury) and against plaintiffs, Julio Palma and Miriam Cortez (plaintiffs) in a case seeking to recover damages arising from a wrongful death action involving plaintiffs’ sons. The appeals court ruled that Mercury did not fail to accept a settlement offer in bad faith.

In September 2012, Frank McKenzie (McKenzie) was driving a vehicle that struck and killed the applicants’ son, who was driving a moped. Mercury insured McKenzie under a policy with bodily injury limits of $15,000 and property damage limits of $10,000. The plaintiffs’ attorney, the firm of Carpenter, sent a settlement letter to Mercury asking it to submit all policy limits to resolve the claim against the deceased’s estate. Mercury’s retained attorney, Jeffery Lim (Lim), responded by letter and indicated that Mercury would submit the policy limits of $15,000. The Carpenter firm did not respond to the letter. A few days later, Lim contacted McKenzie to discuss the settlement offer. McKenzie agreed to accept the offer and signed a statement stating that there is no other insurance covering the loss.

Lim sent a letter to the Carpenter Company with a check for $15,000 attached and said that aside from the Mercury policy, there were no other policies in force for the loss. He inadvertently omitted to attach McKenzie’s statement. Lim also included a standard claims release form for signature and asked the company to provide any changes to the release by October 29, 2012. The Carpenter Company did not respond. In January 2013, Lim wrote to the company and requested the signed Claim Release Form. The Carpenter firm responded and said there was no settlement because the claim was for full policy limits, which included property damage limits of $10,000. In a subsequent letter sent six months later, the Carpenter firm also pointed to Lim’s failure to deliver McKenzie’s statement in a timely manner.

The Carpenter firm then filed a wrongful death lawsuit against McKenzie and won a $3 million judgment in favor of the plaintiffs. In particular, the judgment was not pronounced in favor of the estate of the deceased. Mercury paid the plaintiffs the police limits of $15,000 in personal injury. McKenzie assigned its rights against Mercury to plaintiffs who subsequently filed a bad faith action against Mercury. The trial court entered summary judgment in favor of Mercury and ruled that the offer was made in the name of the deceased’s estate – not the plaintiffs. Therefore, the offer was to settle all survivorship claims for medical expenses on behalf of the estate and not a wrongful death claim on behalf of the plaintiffs.

The California Court of Appeals first explained that a bad faith failure to settle a claim requires proof that the third party made a reasonable offer to settle claims against the insured for an amount within the police. The appeals court held that the letter could not reasonably be construed as an offer to settle the plaintiffs’ wrongful death claims. Wrongful death claims belong to the heirs, and the offer in the letter was only to settle the survivorship claim on behalf of the deceased’s estate. Additionally, the appeals court held that even if the offer had been made, Mercury had not acted in bad faith because, at most, Lim’s failure to deliver McKenzie’s statement was negligent. Mercury had taken all the necessary steps it could, and the Carpenter company’s inaction for about nine months was clear evidence that it was preparing for litigation for future bad faith action. According to the appeals court, “if anyone acted in bad faith, it was the plaintiffs and the Carpenter firm.

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Oil prices climb 1% as US fuel inventories shrink http://lorodinapoli.org/oil-prices-climb-1-as-us-fuel-inventories-shrink/ Wed, 31 Aug 2022 07:06:00 +0000 http://lorodinapoli.org/oil-prices-climb-1-as-us-fuel-inventories-shrink/ Crude oil storage tanks are seen from above at the Cushing Petroleum Center in Cushing, Oklahoma, U.S., March 24, 2016. REUTERS/Nick Oxford Join now for FREE unlimited access to Reuters.com Register WTI for October, Brent for November climb 1% U.S. gasoline and distillate inventories plummet – API Iraqi oil flows intact as clashes in Baghdad […]]]>

Crude oil storage tanks are seen from above at the Cushing Petroleum Center in Cushing, Oklahoma, U.S., March 24, 2016. REUTERS/Nick Oxford

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  • WTI for October, Brent for November climb 1%
  • U.S. gasoline and distillate inventories plummet – API
  • Iraqi oil flows intact as clashes in Baghdad ease
  • The dollar index plunges

Aug 31 (Reuters) – Oil prices recovered slightly on Wednesday as data pointed to firm demand for fuel in the United States, offering respite from a 5% drop a day earlier on fears demand could suffer from China’s increasing COVID restrictions and central bank interest rate hikes.

U.S. West Texas Intermediate (WTI) crude futures jumped 82 cents, or 0.9%, to $92.46 a barrel at 0659 GMT, after falling $5.37 in the previous session due to fears of recession.

Brent futures for October, which are due to expire on Wednesday, climbed 89 cents, or 0.9%, to $100.20 a barrel, trimming Tuesday’s loss of $5.78. The most active November contract rose 88 cents, or 0.9%, to $98.72 a barrel.

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Price swings since the start of the conflict in Ukraine six months ago have rattled hedge funds and speculators and thinned trading, which in turn has made the market even more jagged, as has been seen on Tuesday. Read more

Supporting market sentiment on Wednesday, data from the American Petroleum Institute (API) showed gasoline inventories fell about 3.4 million barrels, while distillate inventories, which include diesel and jet fuel, fell about 1.7 million barrels for the week ended August 26.

The reduction in gasoline inventories was almost triple the 1.2 million barrel drop that eight analysts polled by Reuters had forecast on average. For distillate stocks, they expected a decline of about 1 million barrels.

However, API data showed crude inventories rose by around 593,000 barrels, versus analysts’ estimates of a decline of around 1.5 million barrels.

“Prices are also under pressure due to the hawkish stance of major central banks, concerns over slowing global growth and weakening demand from China,” said Sugandha Sachdeva, vice president of research at raw materials at Religare Broking.

Some of China’s biggest cities – from Shenzhen to Dalian – are imposing lockdowns and business closures to curb COVID-19 outbreaks at a time when the world’s second-largest economy is already experiencing weak growth. Read more

On the supply side, Iraq’s oil exports have not been affected by the worst violence in Baghdad in years, three sources told Reuters on Tuesday. The clashes eased on Tuesday after the powerful cleric Moqtada al-Sadr ordered his supporters to end their protests. Read more

The main factor supporting prices at the moment is talk from members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies, collectively known as OPEC+, that they may cut production to stabilize the market. OPEC+ is due to meet next on September 5.

“When it comes to OPEC cuts, I don’t think anyone thinks immediate cuts will have major effects,” said Sukrit Vijayakar, director of energy consultancy Trifecta.

Second, since the threat of a recession appears to be real, investors would be willing to let Brent hover between $90 and $110 for now, he added.

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Reporting by Mohi Narayan in New Delhi and Sonali Paul in Melbourne; Editing by Christopher Cushing, Kenneth Maxwell and Kim Coghill

Our standards: The Thomson Reuters Trust Principles.

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