first_imgBellamy steps down from Cardiff City coaching roleby Freddie Taylor10 months agoSend to a friendShare the loveCraig Bellamy will step down as a youth coach at Cardiff City in order to fight bullying allegations. The former Bluebirds star was accused by parents of bullying their children, something Bellamy “categorically” denies. However, while he fights the accusations, Bellamy has stepped down from his coaching role.”I am aware of allegations that have been made against me via the media,” Bellamy said in a statement.”I understand the need for Cardiff City to undertake a full investigation in response to these allegations and – at my own suggestion – I have temporarily removed myself from my coaching position in order to cooperate fully with the club’s inquiry.”Obviously, I am saddened both by the allegations and the manner in which they were made and I categorically refute them.”I fully expect to return to my coaching role and have sought legal advice as to my position. I will be making no further comment until the full investigation by the club has concluded.” About the authorFreddie TaylorShare the loveHave your saylast_img read more


first_imgFred Hoiberg dances in new Infiniti comemrcial.YouTubeWith the elimination of the Chicago Bulls from the NBA Playoffs, all signs point to the franchise parting ways with head coach Tom Thibodeau. Who will take over the historic franchise if the job opens up as expected? According to Yahoo Sports’ NBA insider Adrian Wojnarowski, Iowa State head coach Fred Hoiberg is the only coach on the Bulls’ list.“The job will be Fred Hoiberg’s if he wants it,” Wojnarowski said. “There’s not going to be any competition for him. Now, it’s conceivable that Fred Hoiberg decides to stay at Iowa State, but if they make a change and Tom Thibodeau is out, Fred Hoiberg is really the only candidate for this job from the Bulls perspective. But that doesn’t guarantee that he’s going to do it. I know he’s already had to give it thought because it’s real.The full interview with Wojnarowski is available at CBS Chicago.Last week, Iowa State athletic director Jamie Pollard admitted that the NBA is likely in Hoiberg’s future.Jamie Pollard on Hoiberg/NBA rumors: “He has always said from Day 1 that his lifelong goal has been to coach in the NBA…” (1/2)— Travis Hines (@TravisHines21) May 12, 2015Pollard: “…It’s for him to decide when that part of his life he wants to activate.” (2/2)— Travis Hines (@TravisHines21) May 12, 2015I asked Jamie Pollard if he expected Fred Hoiberg to be his men’s basketball coach on Aug. 1: “I hope so.”— Travis Hines (@TravisHines21) May 12, 2015 Will the chance to coach Derrick Rose, Jimmy Butler, and Joakim Noah lead him out of Ames? We’ll probably find out pretty soon.[CBS Chicago]last_img read more


first_imgNew Delhi: Citing the Pulwama terror attack, President Ram Nath Kovind Tuesday praised the valour and sacrifice of security forces in protecting the country and its citizens.Forces such as the Central Reserve Police Force (CRPF) have been playing a pivotal role in checking separatism and terrorism in Jammu and Kashmir, he said. “The valour and bravery with which CRPF personnel faced the terrorists, who attacked the Parliament (in 2001), have become part of the legend of the country’s security forces. “CPRF personnel have played an appreciable role in checking separatism and terrorism in Jammu and Kashmir,” he said during a remembrance service at the National Police Memorial here. Also Read – Uddhav bats for ‘Sena CM’The service marks the annual ‘Valour Day’ of the CRPF which remembers the gallant fight back by its personnel at the Sardar post in Gujarat’s Rann of Kutch against Pakistani troop on this day in 1965. The president paid tributes to police and paramilitary personnel killed in the line of duty, including the 40 CRPF jawans who lost their lives in the February 14 Pulwama terror attack. He laid a wreath at the memorial, a 30-foot-tall and 238-tonne black granite structure, which was unveiled by Prime Minister Narendra Modi on October 21 last year on police commemoration day. Also Read – Farooq demands unconditional release of all detainees in J&KKovind said a pall of gloom had descended on the country after the Pulwama attack.”People queued up to pay their respect to their (the CRPF personnel) sacrifice. I on behalf of the whole nation paid my deepest respect in remembrance of those brave hearts,” he said. Police personnel have always been alert and active to ensure the safety of the people, and have shown extraordinary commitment towards the nation, he said. This is for the first time that the president has visited the memorial located at Chanakyapuri here. Kovind, the supreme commander of the armed forces, was accorded a “national salute” and presented a guard of honour by a joint column of troops from all the Central Armed Police Forces (CAPFs) such as the CRPF, BSF, ITBP, CISF and SSB. Union Home Secretary Rajiv Gauba; Director of the Intelligence Bureau, Rajiv Jain; Director of CRPF, Rajeev Rai Bhatnagar; and other officials from paramilitary forces, police and the Union Home Ministry attended the event. In 1965, CRPF troops were posted on border-guarding duties and the Sardar post event is mentioned as a glorious chapter in the country’s military history when only two companies (about 150 personnel) of the force stood their ground and repulsed a Pakistani brigade attack.last_img read more


first_imgNew Delhi: The Delhi Police has arrested a man who sexually assaulted a divorcee after luring her with the false promise of marriage, said an officer on Friday. The incident was reported from Netaji Subhash Place in the national capital where a seven-month pregnant victim filed a complaint with the police on Wednesday. “The woman, 27, and a mother of two, in her complaint alleged that she was first time raped by the accused in June 2018. He raped her on the pretext of marrying her. But when he refused to fulfil his promise, the victim registered a complaint, following which he was arrested,” a senior police officer said. “During the court hearing, the accused had apologised to the victim, and with mutual consent they had agreed to tie the knot. Following this, the court had granted him bail,” he said. “After he came out on bail last year, the accused used to stay with woman and developed physical relation with her again promising to marry her. This time the victim got pregnant. When she would ask the accused to marry her, he would assault her and force for abortion,” he added. The accused is at large and a hunt is on to nab him, the officer said.last_img read more


first_imgKolkata: The Calcutta University (CU) has started work to renovate all the buildings on its main campus at College Street in a bid to ensure proper conservation of all these buildings as per its heritage value. The state Public Works Department which is executing the work has consulted the West Bengal Heritage Commission (WBHC) and the entire process of renovation is being supervised by Partha Ranjan Das, heritage conservation architect of WBHC. Also Read – Bengal family worships Muslim girl as Goddess Durga in Kumari Puja”The main purpose of preservation of heritage is to renovate the buildings in a way so that they maintain the look it had during its inception. Temporary constructions have come up inside the buildings here and there from time to time which does not go with the heritage. We are removing all encroachments that are deterrent to the heritage,” said Sonali Chakravarti Bannerjee, vice chancellor of Calcutta University. The verandahs of the buildings had turned into an eyesore with rooms for officers, attached toilets and similar constructions blocking the actual look of the balconies of heritage building. The four buildings that are being given a facelift are Asutosh Building, Darbhanga Building, Centenary Building and the Hardinge Building. Also Read – Bengal civic volunteer dies in road mishap on national highwayThe Darbhanga Building erected in 1912 houses university offices, including the chambers of the Vice-Chancellor, the Pro-Vice-Chancellor for Academic Affairs, the Registrar and the Controller of Examinations. The Asutosh Building unveiled in 1926 accommodates the postgraduate language and literature departments and the department of commerce. The Senate House that was erected in 1872 and was the first habitation of the varsity was demolished in 1960. It used to provide the venue for Senate meetings, the chamber of the Vice-Chancellor, offices of the Registrar and also examination and lecture halls. Elaborating on the renovation work, Kanakendu Sinha, superintending engineer (Presidency Circle) of the state PWD, said the work begun with through examination of the strength of the buildings. The Darbhanga Building was found to be in a weak condition with many old furniture, papers being dumped at the top floor of the building. “Most of these things being very old hardly had any value and were highly risky in terms of fire vulnerability too. All these things were brought down to reduce the load at the top before taking up the work. The university authorities had provided us with maps, drawings and similar material of the inception days which have helped us immensely in execution of the work,” Sinha said. The syndicate hall of the university has already seen a major facelift with air conditioning and video conference facilities. The photographs of 51 chancellors of the varsity till date has also been restored and put up on the wall of the syndicate room. The work that had started in the middle of 2018 is expected to be completed in the next four to five months. “After the completion of the work on this campus we will undertake work to renovate our Rajabazar Science Campus which is also another heritage building,” the Vice-Chancellor said.last_img read more


first_imgJuly 28, 2010 Congratulations to the June 20. 2010 graduating workshop participants!! [back from left]: Todd Reibold, Michael Borowski (face obscured- sorry!), Zachary Feirer, Aaron Sherwyn and Fabio Brochetta. [front from left] Chiara Cascella, Alexandra Dahlman, Audry Williams, Rebecca Valencia, Scottie Belissemo and Kylee Cumby. [photo & text: Anita Baker]last_img


first_img Categories: Miller News 16Jan Reps. Miller and Chatfield introduce Religious Freedom Day resolution Resolution for Uplifting Faith and Freedom in AmericaState Rep. Aaron Miller of Sturgis today joined Rep. Lee Chatfield of Levering to introduce House Resolution 223 observing Jan. 16, 2018 as Religious Freedom Day in Michigan.Religious Freedom Day commemorates the anniversary of the Virginia Statute for Religious Freedom, written by Thomas Jefferson. This statute ensured that never again would private citizens suffer at the hand of an abusive state church.“Today is a special day, one of meditation and prayer,” Rep. Miller said. “I hope Michiganders will join me and use this time to reflect and ask God to continue to bless our state and our nation.”The resolution encourages citizens “to pray in his and her own manner, seeking God’s blessings on our families and government officials for personal renewal, moral awakening, and a new spirit of harmony across our land.”“Faith and religion have always played a vital role in America,” Rep. Chatfield said. “Since before George Washington, religious freedom has been revered. I am honored to continue the legacy of those before us by defending our God-given rights of religious freedom.”House Resolution 223 passed the Michigan House of Representatives unanimously.PHOTO INFORMATION: Rep. Chatfield and Rep. Miller joined in prayer for Michigan and the nation in recognition of Religious Freedom Day.last_img read more


first_imgUK pay TV provider BSkyB could be forced to give rival over-the-top service providers access to any of its customers who can receive its Anytime Plus subscription video-on-demand service under proposals outlined by the Competition Commission.As part of its investigation into the market for movies on pay TV, the commission has also recommended that Sky should be forced to publish the expiry date of its contracts relating to first subscription pay TV window rights with the six major studios.The first remedy, concerning OTT providers’ access to Sky’s Ethernet-connected set-top base, would follow the principle that currently requires Sky to make its satellite platform and EPG available to third parties. This remedy would allow those providers of Internet-distributed SVOD movie services which meet certain qualifying criteria to gain access, via Sky’s Ethernet-enabled set-tops, to Sky’s Anytime Plus customer base, to whom they could retail their services directly. This would allow Sky subscribers to switch to alternative SVOD service providers, allowing the latter to make more credible bids for movie rights.The requirement to publish contract expiry dates is intended as a supplement to this, enabling OTT providers to engage with studios on a timely basis for rights.The latest proposed remedies follows the competition regulator’s earlier finding that Sky’s control over pay-TV movie rights in the UK is restricting competition between pay TV prices and reduced choice and innovation for subscribers. Initial remedies proposed including restricting the number of studios from which Sky could license exclusive first-run rights, restricting the nature of the rights to give access to rival SVOD services and a requirement that Sky should acquire rival services’ content on a wholesale basis. These remedies met with criticism from studios as “disproportionate” as well as from Sky itself.The latest proposed remedies are open for consultation until December 5.last_img read more


first_imgOfcom’s report highlighted satisfaction levelsSome 87% of UK broadband customers were satisfied with their service last year, with Virgin Media customers reporting the highest levels of overall satisfaction, according to Ofcom.The UK broadcast regulator’s ‘Comparing Service Quality’ report found that 91% of Virgin Media broadband customers were satisfied with their service. This compared to 88% for Sky, 84% for BT and 83% for TalkTalk.Thirteen percent of broadband customers had a reason to complain to their provider in 2016 – higher than the proportion of landline telephone customers (5%) and mobile customers (4%).Virgin Media and TalkTalk had the highest proportion of broadband customers with a reason to complain in 2016, both at 16%, according to Ofcom.“We’re determined to help bring about a service revolution in the telecoms sector, where consistency and excellence becomes the norm, and customers always come first,” said Ofcom CEO, Sharon White.“Today we want to shine a light on how different providers perform, and are challenging the industry to up its game on customer service. We’ll be monitoring closely to ensure industry service standards are raised.”last_img read more


first_imgVideo e-commerce solutions provider Cleeng has announced a Series B funding round of €5 Million to drive product development and growth in key markets.The funding round is led by Dutch venture capitalist firm Walvis, joined by current investors C4 Ventures. Walvis, founded by the J.A. Fentener van Vlissingen family, helps Dutch technology companies scale internationally.With the new funding, Cleeng said it would be able to increase its sales and marketing efforts, broaden its partner network and further invest in research and development.Gilles DomartiniBroadcasters including Foxtel, Sinclair Broadcast Group, Sky News, and media brands including Feld Entertainment, Cyberobics/McFit currently use Cleeng’s solutions.The Amsterdam-based startup has also announced that Colin Morrison, VP Sales at TiVo and 25-year industry veteran will join its supervisory board along with Vincent Gravesteyn and existing board member Olivier Huez from C4 Ventures, the investment fund founded by Pascal Cagni.“The OTT market is booming, and this investment will allow us to reinforce our core competencies and create the best platform for broadcasters to succeed in delivering Direct-to-Consumer strategies “We’ll expand our market presence in the USA, Europe and Asia to better meet the needs of leading broadcasters and our network of partners across the globe,” said Gilles Domartini, founder and CEO of Cleeng.Gravesteyn, managing director at Walvis, said: “Cleeng’s team has built a highly reliable and technically advanced video e-commerce platform for the broadcasting ecosystem. Premium videos are increasingly central to every media and content strategy today. Cleeng’s innovation in this space offers valuable opportunities for business efficiencies. Walvis invests in entrepreneurs with game-changing technologies and global ambitions, and we are excited to work together with Cleeng’s leadership team to create an international market leader.”last_img read more


first_imgJim SamplesJim Samples, president, international, Scripps Networks Interactive, talks about plans for thematic channels, the free-to-air market and the company’s plans for TVN in Poland.What are your principal goals for Scripps Networks’ thematic lifestyle channels business for the next year?We have seen tremendous growth in Scripps Networks’ international division since launching the business in 2009. Today we distribute seven lifestyle entertainment brands led by Food Network, HGTV and Travel Channel in 175 countries and territories around the world. To reflect our commitment to building out our lifestyle channel portfolio across the globe, Derek Chang, who was named our new head of international lifestyle channels, will lead and set the strategic direction for our international owned and operated lifestyle channels. He will be responsible for growing distribution, launching new channels and setting priorities for new market development.How significant is the free-to-air opportunity compared with the pay TV market and what factors will determine whether you choose pay TV or free TV as your route to any given market?As we continue to focus on expanding the distribution of our brands, we will be flexible on our routes to market.  We will continue to be primarily a pay TV business, but our international strategy is not one-size-fits all. In some instances, that will include free-to-air; in other cases it may be OTT.  In Italy, we launched Fine Living on DTT based on the economies of scale there. We also have FTA networks in the UK, Poland and New Zealand. In Australia, we created a partnership with SBS to launch Food Network on FTA and with Nine Network to create an HGTV-branded programming block on NineLife.How significant is the opportunity to launch additional channel brands around the world and what are you prioritizing?A key priority for my team is to rollout HGTV around the world. This year, we launched HGTV in New Zealand and expanded the channel’s distribution across Asia. We are anticipating launches in the Middle East, North Africa and Poland in the coming months. For Food Network, we’ve seen great strides in Latin America including expanding distribution into Mexico for the first time while extending distribution in Argentina, Bolivia, Chile, Colombia and Paraguay. As we move into 2017, we will look to keep the momentum going as we further build out our lifestyle portfolio in key global markets.What are your priorities for TVN for the next year and what is your view of prospects for the Polish market overall?Poland is a thriving economy with great opportunities in the media industry, and TVN is a very successful and highly vertically integrated media company. It’s been over a year since we acquired TVN, and I couldn’t be happier with the progress. TVN has strong broadcast, pay TV and DTT channels – and are now leading the charge in digital with their OTT platform Player.pl. We are actively supporting this strategy while we further integrate the TVN team into the SNI family.What plans do you have to evolve TVN’s digital and thematic channel business over the coming couple of years?TVN already has a strong thematic channels business. TVN Style and TVN Turbo are the leading lifestyle brands for women and men in the market, respectively. We will look to complement what they are doing so well with our own lifestyle business, including sharing great programming ideas that can play well on either our US or Polish lifestyle channels and creating more productions in Poland for US and international distribution.TVN is already a leader in digital with more than two and a half million registered users on its VOD platform, Player.pl. With more than eight hours of average time spent per month, TVN’s Player has the most loyal users in the Polish OTT market, including Millennials. That’s really ground-breaking, and our team in the US will work with the TVN digital team to share ideas and best practices.In populating your channels, what is the ideal balance between original content that has local appeal and content that has global reach?Scripps is the world’s leading producer of lifestyle programming about home, food and travel, producing 2,500 hours of content a year. It’s only natural that our US output provides a tremendous competitive advantage as we grow our lifestyle brands internationally. However, we know that to lead in our categories, it is imperative to have a localization strategy that connects closely with viewers in each market, reflecting and celebrating their cultures and interests. For example, in Asia, we produce House Hunters Asia, a local version of the US juggernaut. In Latin America, the Food Network team are currently producing Locos x el Asado featuring expert grill master Luciano ‘El Laucha’. And, in the UK, we have produced shows like Siba’s Table, Follow Donal to Europe, and most recently, Paul Hollywood City Bakes.last_img read more


first_img Gold Producers (GDX) 20.66 24.78 45.55 Oil 97.65 94.80 86.26 Silver Stocks (SIL) 10.82 12.59 22.11 TSX (Toronto Stock Exchange) 13.280.72 13,380.41 12,151.13 Gold Junior Stocks (GDXJ) 28.89 37.15 83.12 Louis James Senior Metals Investment Strategist Casey Research P.S. New phyles are launching in Sleman, Yogyakarta, Indonesia; Cuenca Canton, Ecuador; and Birmingham, England. The Antwerp, Belgium; Sydney, Australia; Princeton, NJ; Edmonton, ON; and London, ON, Canada phyles are looking for coordinators. Anyone interested in any of these areas or in checking for an existing phyle in his region should send an email to phyle@caseyresearch.com. Silver 19.54 21.77 33.04 Copper 3.21 3.24 3.63 One Month Agocenter_img Dear Reader, I have written repeatedly about the futility and foolishness of trying to time the market—tops or bottoms—but I know the desire for such a crystal ball is overpowering. So this week, we’ll indulge in a bit of crystal-ball gazing. But first, it is with great pride that I announce the publication of Doug Casey’s new book, Right on the Money. This is our second volume of “Conversations With Casey,” but this one includes several conversations between the two of us that weren’t distributed for free in our former column by that name. In the book, Doug and I delve into the specifics of how to apply his contrarian philosophy to making money. The Book When I mentioned the new book on my Facebook page a few days ago, I received a slew of congratulations. Thank you all. I enjoyed the conversations greatly, as well as the opportunity to draw out Doug’s knowledge and experience to share with all who are intellectually honest enough to consider what he says. But one fellow wrote in to say that Doug and I were quite brazen to publish a book called Right on the Money after being wrong about gold for the last two years. I understand completely that people who’ve invested recently in the gold sector are likely underwater and wondering how long they can hold their breath. I feel the pinch myself, with many of my own stocks in the red at the moment. However, we were not wrong about the current correction. Back in 2011 when gold hit its nominal peak over $1,900, we warned readers in print that a retreat was likely. Granted, given all the Wile E. Coyote economics governments around the world have been engaged in, we didn’t expect the temporary bear to stay so long or grow so large, but we did see it coming, and we did—and still do—see it as a fantastic opportunity for those who didn’t get in at the beginning of the bull cycle back in 2001. In point of fact, we have not been proven wrong about that yet; we’ve just seen a predictable level of panic among those who don’t see or have confidence in the bigger picture and long-term trends we’re betting on. Further, we found ways to make money on gold’s slide since 2011, including three highly successful “gold insurance” plays that more than doubled readers’ investments when gold went down. We’ve also included more dividend-paying companies in BIG GOLD, and even found one company for the International Speculator that profits from processing gold regardless of the gold price (one so far—I’m on my way to see another possible pick as you read this), as well as been able to upgrade our portfolio with high-grade exploration and development companies on sale while the market is down. This is what it means to be a contrarian—as Doug likes to say: “Make volatility your best friend.” And he should know: he’s been profiting from the metals and mining markets for almost 40 years. If one pulls back to view the big picture—in both global breadth and historical depth—as few people can do like Doug, it’s easy to see that the current slump in our market sector should not be cause for fear, but for excitement. It’s the best bargain-hunting opportunity for commodities investors in a decade. And it just may be the best wealth-creation opportunity in a generation. Exactly how one goes about this is what we explore in Right on the Money, and you can preorder a copy now to receive a 13% discount. Just in time for holiday reading—and giving. I hope you take advantage of this deal while it lasts. The Crystal Ball Doug likes to say that it’s a big mistake to make a prediction that includes both an event and a time. But then he often goes ahead and does exactly that—”for entertainment purposes only.” So I’m going to go out on a similar limb: I think it will be clear to most investors that the precious metals correction is over and the second half of this record-smashing gold bull market is under way well before the end of 2014. One of the reasons for this is a very different conversation I recently had, not with Doug, but with Krassimir Petrov. Krassimir is a true international man, like Doug: an Austrian School professor of economics from Bulgaria, currently living in Thailand. More important at the moment is that the previous time I interviewed him, he predicted the timing of the current gold bull cycle more accurately than Doug and I did—a fact that impressed me greatly. That interview is a relatively quick read, dense with important ideas and insights, but it’s too long for this dispatch, so I’m going to give you the bottom line and encourage you to read the whole interview here. Based on cyclical analysis, technical analysis, fundamental analysis, and portfolio analysis, Petrov says the bottom for gold could be in already, but most likely will be behind us within one to seven months. That’s early to mid-2014, now rapidly approaching. (Note that in the interview, he says three to nine months, but I recorded our conversation two months ago.) That said, I should also mention that Krassimir is convinced that the actual Mania Phase in gold – when the investing herd throws itself head-first into the gold market and you’ll get gold stock tips from your friendly cab driver – is still at least six to eight years away. While that may be somewhat disappointing to us gold investors waiting for our big rewards, it isn’t bad at all, because we’ll make plenty of money on the ramp up before the Mania Phase, just as we did in the first half of this epic bull market. I still believe it’s impossible to predict the exact bottom of a market correction, but given that cashed-up, high-grade exploration plays—and even profitable producers—are already on the deep-discount rack, it seems clear as day to me that the thing to do is to build a position while the market is down. You do not want to miss this boat. And best of all, tax-loss selling this month is likely to provide spectacular buying opportunities in the best of the best stock picks in the sector. I strongly encourage any and all with the contrarian courage to buy what others are selling (the hardest part of implementing the “buy low, sell high” formula) to act. Right on the Money shows you how, and the International Speculator offers you specific and detailed guidance. (If you try the International Speculator risk-free for 3 months today, BIG GOLD is included in your subscription, at no extra charge.) I know I’m tooting my own horn here and repeating some things readers have heard before, but I believe 100% in what I’ve said, and I’ve put more of my own money where my mouth is than ever before. Heart and mind, I wish you a happy and very prosperous 2014. Sincerely, Rock & Stock Stats Last Gold and Silver HEADLINES GFMS: India’s Silver Imports Likely to Touch New Record Highs in 2013 (Scrap Monster) According to Thomson Reuters GFMS, silver shipments into India reached 338 tonnes (10.8 million ounces, or Moz) in October, surging 40% over the 241 tonnes (7.7 Moz) imported in September. Through October, the country imported 4,652 tonnes (149.5 Moz), and analysts project that total silver imports could reach 5,200 to 5,400 tonnes (167-174 Moz) this year, exceeding the previous record of 5,048 tonnes (162.2 Moz) achieved in 2008. Silver demand in India has two key drivers. The first is low prices, which have plunged by nearly 37% year to date. The second reason is that increasing numbers of Indians have opted for silver jewelry and coins as gifts at festivals and weddings instead of gold, due to government restrictions that have led to a supply shortfall. Given the strength of the gold tradition in India, it will be interesting to see what happens when this dam finally bursts—as eventually it must. Silver Eagle Coin Sales Lag in November, But Still a Record 2013 (Mineweb) November American Silver Eagle bullion coin sales declined by 787,000 ounces from October levels, as the US Mint reports 2.3 million Silver Eagles were sold in November, down from 3,087,000 coins in October and 3,159,500 coins in November 2012. However, according to the Gold and Silver Blog, “the lower sales figures for November do not reflect a drop in demand for silver bullion coins, but rather the opposite due to the fact that the US Mint has run out of coins due to unprecedented demand.” Last year, the Mint unexpectedly sold out of 2012 Silver Eagles on December 17; the Mint is thus limiting coin orders for the remainder of this year to conserve blanks for the 2014 program. The Mint plans to issue its last weekly allocation of 2013 Silver Eagles on December 9. The 2014 silver Eagle bullion coins will not be available to order until January13, 2014. Meanwhile, year-to-date sales of American Eagle gold bullion coins at the end of November totaled 800,500 ounces, surpassing last year’s total sales of 753,000. This is already a new all-time record. Korea Exchange Targets Gold Trade as Park Hunts Taxes (Bloomberg) In an attempt to improve trading transparency and generate new tax revenue and financial opportunities, the Korean Exchange will begin physical gold trading on March 24, 2014. Asia’s fourth-largest economy, which already offers gold futures trading on the Korean Exchange, has been entertaining the possibility of a physical bullion market since 2010. Illegal trading to avoid taxes accounts for as much as 3.3 trillion won, depriving the government of an estimated $300 billion in tax revenue. The surge in gold-related services and institutions continues, especially in the East. We recommend investing with this trend in mind. This Week in International Speculator and BIG GOLD—Key Updates for Subscribers International Speculator One of our advanced, high-grade explorers just received a critical permit for underground work—a major step forward for this project, which has been significantly de-risked. Gold 1,230.70 1,317.80 1,701.80 One Year Ago TSX Venture 916.65 941.31 1,186.70 This Canadian explorer released outstanding met-test results, showing that its flagship project should have relatively low costs. The market ignored this value-adding news, making this company a Best Buy. BIG GOLD We updated all our stock recommendations in the latest issue of BIG GOLD, which are also posted on the portfolio page.last_img read more


first_img But in the oil patch, you either innovate or disintegrate. The need to bring down costs and increase the recovery of oil and natural gas is now a prerequisite to stay alive in the oil patch during a major price correction, such as we’re currently in. The need to modify drill and production programs to be efficient is greater than ever. Companies will focus on increasing the number of wells per pad and down spacing, which allows producers to increase extraction efficiency by reducing the length between wells on a per acre basis. But I believe the greatest efficiency and success of this downturn will be re-fracking. Re-Enter and Re-Frac In the next few years, you’ll very likely be hearing a lot about re-fracking… and it will likely also become as common as fracking is today over that time frame. What is re-fracking? Essentially, rather than drilling a new well, a company re-enters and re-fractures existing horizontal wells. This can be done currently at about 25% of the cost; that cost will only improve with more “re-fracks” and as better techniques develop with time. Now that oil has fallen to new lows and management teams are coming to the realization that prices aren’t going up anytime soon, oil producers need to find ways to reduce drilling costs and increase production (recovery) from existing wells. I believe that one of the absolute best ways to do this is to eliminate as much of the drilling costs of a new well as possible and focus on re-entering an existing well. By applying better modern technology and better equipment, the company can re-frack the older horizontal wells to unlock the trapped oil and natural gas left behind in the initial frack process. And there’s a lot of oil left behind in the existing fracked wells. Bam! Innovation out of necessity. Re-fracturing horizontal oil wells is new to the industry, but I think it will actually revitalize the declining wells in the shale sector. I’m not saying that the re-fracked wells will be better than the original fracked wells initially, but thus far, the future is very promising for re-fracks based on the results I’ve seen. Not only can re-fracking revitalize these declining wells, it can also increase the companies’ drilling inventories significantly, which is a huge positive. “Drilling inventory” is the number of potential wells per section. More wells means more reserves, which is good, especially if the cost  to re-enter those existing wells is one-quarter or less the cost of drilling a new well. Now I know there will be an old guard—the same guys who in 2007 and 2008 told me that fracking is science fiction—who won’t believe in re-fracking, but that’s their problem. I’m already planning how I am going to position myself and my subscribers to take advantage of this trend that no one is talking about. One of the first companies to test re-fractures is Marathon Oil Corp. (MRO) in its core Bakken acreage in Mountrail and Dunn Counties. So, we called the company up and starting asking questions. They really didn’t like the fact we came knocking and didn’t want to give out much information, as this is cutting-edge stuff, and the company has a leg up on its competition. But anyone who knows me knows I don’t give up easily, so I got the story… and it gets very good. The re-fractured wells significantly outperformed expected results. In the third quarter of 2014, Marathon Oil completed 13 re-fractured wells, all with very positive results. So I kept the search on for other management teams that have the know-how to deploy re-fracks. I called Pioneer Natural Resources (PXD), one of the true pioneers in the early days of the Eagle Ford shale in Texas. PXD is seeing major success using re-fracking the Eagle Ford. I didn’t stop there. I have the whole list of who’s re-fracking and who isn’t. But that information is for my paying subscribers. That said, I’d be remiss if I left out my fellow Canadians and failed to mention that the Canadian companies such as Crescent Point Energy (CPG.TO) are not too far behind this new re-fracking trend. CPG will begin re-fracturing its Alberta Bakken wells in 2015. Who will really benefit from the re-fracking boom? I think I nailed this one… and it will be the basis of my March Casey Energy Report newsletter. I spoke to one of the world’s leading minds in well re-fracking recently, to pick his mind on where the industry is currently and where it will be going in a few years. His insights and experience are incredible. This executive was one of the final candidates to be the president of one of the world’s largest service companies; and after not getting the nod, he left the company (into which he’d put over 30 years of service) and formed a multibillion-dollar fund which is now capitalizing on the new enhanced oil recoveries. I also plan on making money for my Casey Energy Report subscribers with it. The reason for the recent emphasis on efficiency is due to the adversity facing oil and gas producers, with lower oil prices and a business model built upon levered growth. Many companies have over-accumulated debt to fund growth projects, and as oil prices fall, they must look to efficiencies to keep growth alive or keep existing production stable. Shale wells face production decline rates ranging from 50%-85% in some wells of the three main formations. Therefore, US shale producers have to keep drilling just to maintain production and continuously pay out large interest payments to their debt holders. These interest payments are burdensome on the profitability of producers, but if they even slow production, their interest payments would be at risk at $50 oil. Looking at the large and small producers in the three main basins in the US, we can see how much these interest payments can cost a company as a percentage of operating profit. If highly levered US producers were to cut production, their interest costs could rise to greater than 50% of their operating profit and would put the company at risk of default. If that happens, debt is likely to dry up, and lenders would tighten lending restrictions on these companies. US companies are using down spacing, pad drilling, and re-fracturing as a way to stabilize and grow production while cutting costs in order to avoid accumulating additional debt or seeking additional credit facilities to fund their production. The United States is a place that fosters innovation. With companies like Google, Apple, and Tesla, it’s easy to overlook innovation in the oil and gas industry. As oil and gas producers face the adversity of low oil prices and high leverage, they rely on the main characteristic that birthed the shale revolution: innovation. The Saudis may be dictating the price of oil currently to fight for international market share, but oil production from shale formations will not be destroyed, as OPEC hopes it will. The US oil producers will continue to pump record amounts of crude, not because they want to, but because they have to—and having to do something spurs the type of innovation we’re seeing in the oil and gas industry today. The future of fracking is re-fracking, and we’re on the cusp of what will be the next phase of the US Shale Revolution. How Do You Make Money from the Re-fracking Revolution? The current energy markets are volatile, but a speculator must use volatility to his own advantage to build positions in companies that have suffered as a result of the current market correction. I follow a very disciplined approach and use very advanced mathematics and technical knowledge to position myself in the best energy companies. If you’re looking for in-depth research, experience, and exposure to my vast network in the resource sector, then you may want to pay attention to what I’m doing. If you believe that to be successful in the resource sector one must be a contrarian to be rich—as I do—now is the time to become engaged. Come see what I’m doing with my own money. You’ll get access to every Casey Energy Report newsletter I’ve written in the last decade, as well as my next two monthly reports, which will not only cover the potential of re-fracking, but will reveal which companies will be best situated to make their shareholders money in the current depressed energy market. It’s all available right here. I can’t make the trade for you, but I can help you help yourself. I’m making big bets—are you ready to step up and join me? This will be one of the most important missives I will ever write. The future of fracking is re-fracking. This cutting-edge technology is new, and I’ll walk you through everything you need to know about the next game-changing technology in the shale revolution. Some will call it Fracking 2.0., but I call it Re-Fracking. Adversity is understating the potential headwinds heavily indebted oil and gas companies face as 2015 begins, oil prices stay suppressed, and hedges on their production eventually wind down. Adversity always results in innovation in the top oil and gas producers, operators, and servicers in the industry in every downturn. Where We Were, Where We Are, and Where We’re Going In 1956 Marion King Hubbert, a geoscientist from Shell, predicted peak oil production would be reached between 1965 and 1970. He became famous when his prediction became reality in 1970. But everything changed when the innovations in horizontal drilling and fracturing allowed companies to recover oil and natural gas from new and deeper formations such as the Bakken, Eagle Ford, and Permian Basin at the dawn of the 21st century. Hydraulic fracturing has experienced many innovations, such as increased lengths both vertically and laterally as well as new completion designs which have increased fracture stages along the well and perforations (number of fractures) between each cluster stage, to name a few.center_img I prefer to spell the shorthand for hydraulic fracturing as “fracing,” because it’s an adaptation of the word “fracturing,” which is what happens to the formation of rock. But mainstream media, Microsoft Office Word 2013, and most important, my proofreaders disagree. The latter tell me it should actually follow some rule involving a part of speech called a “gerund” and get the “k” added. It’s a battle I don’t care to fight (I care about making money, not academic nonsense), so fracking will be the spelling in Casey publications moving forward. Whether you read the word fracking, fraccing, or fracing, they all refer to hydraulic fracturing.last_img read more


first_imgShare via Email news Share on Twitter Nearly 400,000 people have died after overdosing on opioids between 1999 and 2017, according to the latest data from the US Centers for Disease Control and Prevention. More than half the deaths resulted from prescription painkillers.Purdue denies it contributed to the US opioid crisis, pointing to US Food and Drug Administration’s approvals of labels for the company’s drugs that carried warnings about risk and abuse associated with treating pain. Purdue and its family owners argue that heroin and fentanyl are currently more significant culprits in the opioid epidemic.However, health experts have said many people turn to those drugs after first getting hooked on prescription painkillers.In March, Purdue reached a $270m settlement with the state of Oklahoma, which on Tuesday is set to take two other drugmakers to trial over claims they also helped fuel the opioid epidemic. Sackler family members who wholly own Purdue Pharma voluntarily contributed to that settlement even though they were not named in the suit.Dozens of other states have lawsuits pending against Purdue, and in some instances same or all of the same group of eight leading Sackler family members, who made a financial contribution to the Oklahoma settlement even though they were not defendants in the case.A North Dakota judge earlier this month dismissed that state’s case against Purdue. Purdue’s chief executive, Craig Landau, in March said a bankruptcy filing remained an option for the company to address potential liabilities from widespread litigation. Move makes the bank the most high-profile corporation to have distanced itself from the OxyContin maker and Sackler family Since you’re here… Share via Email Share on LinkedIn Reuse this content Read more JP Morgan JPMorgan told Purdue that reputation risks associated with the public backlash against the drugmaker informed its decision to cut business ties, sources said.Photograph: Spencer Platt/Getty Images Share on WhatsApp Read more Support The Guardian Purdue Pharma accused of ‘corrupting’ WHO to boost global opioid sales Topics Business Today: sign up for a morning shot of financial news Opioids crisiscenter_img Banking Reuters Share on Facebook Share on Messenger Share on Facebook Banking giant JPMorgan Chase has cut ties with Purdue Pharma over the OxyContin maker’s alleged role in the US opioids crisis, forcing the prescription painkiller manufacturer to find a new bank to manage cash and bill payments, people familiar with the matter said on Thursday.The move makes JPMorgan, the largest US bank by assets, the most high-profile corporation known to have distanced itself from Purdue and its wealthy owners, the multibillionaire members of the Sackler family, amid thousands of lawsuits alleging the company pushed addictive painkillers while downplaying their abuse and overdose risks. Shares5656 This article is more than 1 month old Last modified on Thu 23 May 2019 16.04 EDT Share on Pinterest Share on Twitter This article is more than 1 month old JPMorgan Chase cuts ties with Purdue Pharma over alleged role in opioid crisis JPMorgan’s decision also underscores a drive among US banks to reassess their relationships with clients and industries in response to controversy and political debates over matters such as immigration detention and mass shootings.After JPMorgan informed Purdue in March that it had six months to find another bank, Purdue tapped Dallas-based regional bank Comerica Inc to handle its financial transactions and accounts, the sources said.JPMorgan told Purdue that reputation risks associated with the public backlash against the drugmaker informed its decision to cut business ties, the sources added.While not a lender to Purdue, JPMorgan’s commercial bank managed the company’s cash and bill payments, according to the sources. It is not clear how long JPMorgan served as Purdue’s bank.“Purdue is a streamlined organization with an exciting pipeline of new medicines and significant cash reserves,” the company said in a statement. “The company has multiple banking relationships and will not have any interruption to its banking and financial service needs.”JPMorgan and Comerica declined to comment.Purdue faces about 2,000 lawsuits accusing the Stamford, Connecticut-based company and, increasingly, certain members of the Sackler family, of aggressively marketing prescription opioids while misleading prescribers and consumers about risks from their prolonged use.The company and the Sackler family owners of Purdue have repeatedly denied all wrongdoing.US states, counties and cities are seeking billions of dollars in damages to address harm from the opioids epidemic, whether from the use or abuse of potent prescription painkillers such as Purdue’s branded OxyContin narcotic or, often when opioid prescriptions were stopped, from black market pills, heroin or fentanyl. JP Morgan Thu 23 May 2019 15.05 EDT … we have a small favour to ask. The Guardian will engage with the most critical issues of our time – from the escalating climate catastrophe to widespread inequality to the influence of big tech on our lives. At a time when factual information is a necessity, we believe that each of us, around the world, deserves access to accurate reporting with integrity at its heart.More people are reading and supporting The Guardian’s independent, investigative journalism than ever before. And unlike many news organisations, we have chosen an approach that allows us to keep our journalism accessible to all, regardless of where they live or what they can afford. But we need your ongoing support to keep working as we do.Our editorial independence means we set our own agenda and voice our own opinions. Guardian journalism is free from commercial and political bias and not influenced by billionaire owners or shareholders. This means we can give a voice to those less heard, explore where others turn away, and rigorously challenge those in power.We need your support to keep delivering quality journalism, to maintain our openness and to protect our precious independence. Every reader contribution, big or small, is so valuable. Support The Guardian from as little as $1 – and it only takes a minute. Thank you.last_img read more


first_imgConsensus, a software startup that helps B2B presales teams scale through interactive demo automation, announced today a new update designed for large customers.“While working with presales and sales teams at some of our enterprise customers, such as Oracle and ADP, we noticed the need for some additional features unique to large companies,” says Garin Hess, Founder and CEO. “For example, they want to have more control over how they organize the unique demo analytics that Consensus gathers and tracks.” analyticsB2BConsensusDemo AutomationNewsSaasSales Engineer Previous ArticleMarTech Interview with Doug Kofoid, CEO, DialogTechNext ArticleWorldRemit Raises $175 Million in Series D Funding The new release offers several new capabilities including multi-level user and data management, more effective Demolytics® filtering, single sign on (SSO), and increased SaaS security measures to meeting growing security and privacy demands from large customers.Marketing Technology News: Alorica Taps Business Transformation Veteran Colson Hillier to Be Chief Marketing OfficerPresales teams often struggle to keep up with increasing demand for live demos and the demo function quickly becomes a bottleneck, derailing opportunities and frustrating sales teams and customers with unavoidable delays. Consensus’ interactive demo automation platform personalizes product videos and documents in response to questions so each stakeholder in the buying group automatically learns about your product in a way that is more relevant to them. Consensus tracks engagement with these demos to help sales teams understand what matters most to prospects.  This allows each sales engineer to effectively serve more prospects and brings those prospects to live demos better educated and ready to talk specifics.“We’ve seen over and over that what matters most to the sales teams we work with are the analytics that give the sales team insights into what is driving buying behavior inside their target organization,” says Alex Edwards, Director of Client Success. “Top level leaders also want to roll up and view this data inside their internal BI dashboards.”Consensus users (usually presales and sales reps) can now be organized in any hierarchical structure with unlimited levels of hierarchy, enabling sales leaders to roll up or drill down on this compelling data, called Demolytics™, in any way they choose.Marketing Technology News: Alpha Software Launches Alpha TransForm, Cuts Build Time for Robust Offline Enterprise Mobile Apps from Months to Hours“The demolytics offer a fantastic transparency on the prospect’s interaction with your demo, allowing you to improve the way you position the product,” says one Presales leader. “Using Consensus we are now able to track prospect’s interaction with our demos, identifying key needs related not only to the product itself, but also in regards to the way we are currently positioning them on the market.”Consensus makes it easy to create re-usable interactive demos that the sales team can send out on-demand. Once the solution consultant creates the re-usable interactive demo, inside sales reps create custom landing pages for the buying group called DemoBoards™.One sales leader on the popular G2Crowd SaaS review site described the benefit of this approach this way: “Consensus allows you to reach stakeholders in a more personalized way and understand what is going to help them make a purchasing decision.”Marketing Technology News: StarfishETL Partners with PeopleSense, Inc. With the new buyer matrix it’s easier to see where there is alignment and misalignment across different stakeholder interests in the buying group. Interactive Demo Automation for Sales Engineers – Consensus’ New Release Unlocks Unique Buying Group Analytics PRNewswireJune 3, 2019, 3:34 pmJune 3, 2019 last_img read more


first_imgIn the case of Google and Alexa, users must create a secure connection between their bank and the assistant through Alexa’s Skills or Google’s Actions. All banks require the use of a four-digit PIN before they will provide balance and bank account info over these speakers, and suggest making those PINs different from the one on a customer’s ATM card. Hey Alexa, what’s my bank account balance? Bonjour, Alexa: Amazon digital assistant heads to France “We want to be there for our customers in any possible way that we can,” said Gareth Gaston, executive vice president for omnichannel banking at U.S. Bank.For now, U.S. Bank is keeping the features available through bank-by-voice fairly restrictive. Customers will be able to check bank balances, pay U.S. Bank credit cards and mortgages, ask Alexa or Google the due dates on bills, and other basic functions. Money cannot be transferred from a U.S. Bank account using voice yet, Gaston said, but the bank is considering the option.Asking Google, Alexa or Siri for the weather or to tell a joke is one thing, but it’s a whole other issue when these assistants access and share sensitive personal information. These apps will typically announce a person’s available balance over the speaker, which has the potential to create awkward situations at parties. In this June 14, 2018, photo, Gareth Gaston, Executive Vice President and Head of Omnichannel Banking at US Bank, discusses voice assistant banking with an Amazon Echo, left, and a Google Home, right, in New York. Big banks and financial companies have started to offer banking through virtual assistants, Amazon’s Alexa, Apple’s Siri, and Google’s Assistant, in a way that will allow customers to check their balances, pay bills and, in the near future, send money just with their voice. Regional banking giant U.S. Bank is the first bank to be on all three services, Alexa, Siri and Assistant. (AP Photo/Mark Lennihan) In this June 14, 2018, photo a Google Home is displayed in New York. Big banks and financial companies have started to offer banking through virtual assistants, Amazon’s Alexa, Apple’s Siri, and Google’s Assistant, in a way that will allow customers to check their balances, pay bills and, in the near future, send money just with their voice. Regional banking giant U.S. Bank is the first bank to be on all three services, Alexa, Siri and Assistant. (AP Photo/Mark Lennihan) In this June 14, 2018, photo an Amazon Echo is displayed in New York. Big banks and financial companies have started to offer banking through virtual assistants, Amazon’s Alexa, Apple’s Siri, and Google’s Assistant, in a way that will allow customers to check their balances, pay bills and, in the near future, send money just with their voice. Regional banking giant U.S. Bank is the first bank to be on all three services, Alexa, Siri and Assistant. (AP Photo/Mark Lennihan) Apple’s Siri is the most restrictive of the three virtual assistants, only showing a user a bank account balance on a screen, and not allowing other features like paying bills. Banks can integrate Siri into their iPhone and iPad apps, but Apple’s HomePod smart speaker that launched earlier this year does not currently accept banking commands. A company spokeswoman declined to say whether that feature was coming.Google Assistant has the capability to do individual voice recognition, providing one additional level of security on that platform, but that is not implemented on U.S. Bank’s Action yet. Security experts say that additional level of security could be foiled, however.”Users’ voices can be recorded, manipulated, and replayed to the assistants,” said Kurt Baumgartner, a security researcher with Kaspersky Lab. “Also, with access to banking accounts and abilities to transfer and pay out money, remote financial fraud may be within the reach of cybercriminal groups soon.”center_img Big banks and financial companies have started to offer banking through virtual assistants—Amazon’s Alexa, Apple’s Siri, and Google’s Assistant—in a way that will allow customers to check their balances, pay bills and, in the near future, send money just with their voice. And with the rapid adoption of Zelle, a bank-to-bank transfer system, it soon could be possible to send money to friends or family instantly with voice commands.But the potential to do such sensitive tasks through a smart speaker raises security concerns. Virtual assistants and smart speakers are still relatively new technologies, and potentially susceptible to being exploited by cyber criminals.Regional banking giant U.S. Bank is the first bank to be on all three services—Alexa, Siri and Assistant. The company did a soft launch of its Siri and Assistant services in early March and this month started marketing the option to customers.Other financial companies have set up virtual assistant features. Credit card companies Capital One and American Express both have Alexa skills that allow customers to check their balances and pay bills. There are other smaller banks and credit unions that have set up Google Assistant or Alexa as well. Explore further © 2018 The Associated Press. All rights reserved. In this June 14, 2018, photo, Gareth Gaston, Executive Vice President and Head of Omnichannel Banking at US Bank, discusses voice assistant banking with a mobile phone, an Amazon Echo, center, and a Google Home, right, in New York. Big banks and financial companies have started to offer banking through virtual assistants, Amazon’s Alexa, Apple’s Siri, and Google’s Assistant, in a way that will allow customers to check their balances, pay bills and, in the near future, send money just with their voice. Regional banking giant U.S. Bank is the first bank to be on all three services, Alexa, Siri and Assistant. (AP Photo/Mark Lennihan) Citation: Banking by smart speaker arrives, but security issues exist (2018, June 20) retrieved 18 July 2019 from https://phys.org/news/2018-06-banking-smart-speaker-issues.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.last_img read more


first_img A renewed focus on air quality in the wake of Volkswagen’s 2015 “dieselgate” scandal—in which the car giant admitted to cheating regulatory tests on 11 million cars worldwide—has seen a wave of courtroom action across Germany.In the capital city, “the current clean air plan does not include sufficient measures to meet annual limits for nitrogen dioxide (NO2),” the Berlin judges said.City authorities “must order a driving ban for the streets where the threshold is not met,” targeting cars up to the Euro 5 emissions standard, they ruled.Local media estimate that this would affect as many as 200,000 cars, some only three or four years old, with some exceptions, including for tradesmen.Definite exclusion zones include 11 stretches of major arteries, and Berlin must also examine whether driving bans are needed on a further 15 kilometres (nine miles) of road, a tiny fraction of its total 5,343 kilometres.”This ruling is a ringing slap in the face” for the government, Greenpeace transport spokesman Benjamin Stephan said.”As long as the car industry is not forced into hardware refits for all dirty diesels in every city, driving bans will be the only effective measure.” Berlin could shut out diesel drivers from major arterial roads next year, after a court Tuesday ordered the German capital to follow in the footsteps of Hamburg, Frankfurt and Stuttgart with exclusion zones. No fans of refits, German carmakers would rather sell new, cleaner cars ‘Good day for clean air’Tuesday was “a good day for clean air,” agreed Juergen Resch, head of the DUH environmentalist group that brought the court case.”In Berlin we have 250,000 people who suffer from asthma, including 50,000 children.”Nitrogen oxides (NOx) including NO2 are estimated to cause thousands of premature deaths in Germany each year.According to the World Health Organization (WHO), the gases aggravate asthma and bronchitis symptoms and are linked to cardiovascular and respiratory disease.In Berlin, annual average levels reach 49 milligrammes per cubic metre—well above the federal government’s 40-milligramme limit—while in 14 other cities levels exceed 50 milligrammes.Germany is one of a number of countries that have missed European Union deadlines to bring down levels of NOx in urban air, opening them to potential legal action from Brussels. Explore further Chancellor Angela Merkel’s “grand coalition” of conservative CDU and centre-left Social Democrats (SPD) have wrangled over diesel with one another and with the car industry for a year.The aim: reducing air pollution without loading new costs onto drivers, imposing more driving bans or hobbling the country’s vital car industry as it confronts rising challengers from the United States and China.Ministers last week unveiled a plan counting on car drivers to trade in older diesels for newer, less polluting models, or to have them refitted with more effective exhaust treatment systems.But with no legal tools to put the squeeze on carmakers, the politicians said they had to negotiate further with the firms to get them to pay for such modifications.Manufacturers Volkswagen and Mercedes-Benz maker Daimler have agreed to at least examine refits, while BMW continues to reject them.All three would prefer to sell millions of new cars with help from “trade-in discounts” of up to 8,000 euros ($9,162).The changes come as several German courts have so far backed environmental campaigners.Port city Hamburg has already closed stretches of two major roads to older diesels, while Stuttgart—home to Mercedes-Benz and VW subsidiary Porsche—will ban them from much of its streets from next year.Judges also recently ordered a ban in the city centre of Frankfurt, Germany’s financial hub that sees an influx of tens of thousands of commuters each day. Berlin’s famous Friedrichstrasse is included in the diesel ban Citation: Court orders diesel ban on major Berlin roads (2018, October 9) retrieved 17 July 2019 from https://phys.org/news/2018-10-court-diesel-major-berlin-roads.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Porsche first German carmaker to abandon diesel engines © 2018 AFP Powerful auto sector ‘A good day for clean air’last_img read more