Tom Hayes’ lawyer slams lack of disclosure around $100m Citi settlement over Libor rigging in US

The lawyer for Tom Hayes, a former Citi banker jailed for rigging the London Interbank Offered Rate (Libor), has slammed the Serious Fraud Office (SFO) for failing to disclose the bank’s recent settlement with a group of US states over allegations it manipulated the interest rate benchmark.The banking giant reached a $100m (£76m) settlement with US states on Friday, which were pursuing the bank for “misrepresenting the integrity of the benchmark” for commercial gain. Among the allegations was that Citi’s USD Libor submitters asked personnel from other desks or divisions to avoid offering higher interest rates to clients in order to secure funding because it could bring negative attention in the media. Todner told City A.M: “Tom Hayes has been a scapegoat for what is clearly an institution-wide problem. This document and any investigation have never been disclosed to Tom either before his trial or after.”The SFO has an ongoing duty of disclosure. This should have been disclosed.”Todner said the settlement would be flagged before the CCRC, which has been looking into Hayes’ case for 15 months.A spokesperson for the SFO said: “The Criminal Cases Review Commission is examining this and we stand ready to assist them.”Citi was contacted for comment but did not respond in time for publication. Alexandra Rogers More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comWhy people are finding dryer sheets in their mailboxesnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Share Read more: Lawyers slam SFO for ‘miscarriage of justice’ in Tom Hayes case Tom Hayes’ lawyer slams lack of disclosure around $100m Citi settlement over Libor rigging in US whatsapp whatsapp As part of the settlement, Citi said it neither admitted or denied the allegations but had entered into the voluntary settlement “solely for the purpose of resolving the claims and causes of action against Citi”.Read more: Ex-Barclays trader accused of Euribor fraud was ‘lowballing’ whistleblowerHayes was the first person to be convicted of Libor rigging in the UK. After his case was referred to the Court of Appeal and subsequently rejected, it now lies in the hands of the Criminal Cases Review Commission (CCRC), a body that investigates potential miscarriages of justice.Hayes is currently serving an 11-year prison sentence at Lowdham Grange prison in Nottingham.Hayes’ lawyer, Karen Todner, said none of the evidence regarding the Citi settlement was disclosed before his trial or in the aftermath to the CCRC, despite his defence resting on the assertion that Libor rigging was an “industry-wide practice”. Wednesday 20 June 2018 4:56 pm read more

China payments prove confusing for companies

first_img Tags: Chinese economy China payments prove confusing for companies Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunUndoForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesUndoComedyAbandoned Submarines Floating Around the WorldComedyUndoGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsUndoEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUndoSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictUndo MOST multinational companies are ill-equipped to handle the rapid rise in renminbi transactions, according to new research published today.Ninety per cent of senior executives surveyed by international legal practice Allen & Overy said their company’s exposure to Chinese currency is either “important” or “very important”.However, more than three-quarters of those polled also said they thought a lack of understanding about how to conduct renminbi transactions is the greatest obstacle to their company’s use of the Chinese currency.Renminbi payments have soared in recent years, with global growth set at 102 per cent last year alone. Almost two-thirds of the executives polled by Allen & Overy said they expected transaction volumes to more than double in the next five years. Jane Jiang, China regulatory partner at Allen & Overy, said companies need to understand the currency’s changing regulatory framework if they are to keep up with increased demand for transactions. “China’s [renminbi] regime is likely to be a source of new possibilities for those companies who not only keep abreast of the changes and adjust their own policies in response, but also dare to ask for changes by proactively communicating with more listening regulators,” Jiang said. whatsapp whatsapp Sunday 19 April 2015 11:33 pmcenter_img Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat is ‘Ranked-Choice Voting,’ the New System for New York’s MayoralFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof Express KCS Sharelast_img read more

North Koreans appear more relaxed at Pyeongchang Olympics, but caveats remain

first_img News News “National athletes lead lives with more freedom than ordinary citizens in North Korea,” said defector and former national athlete Lee Ji Young (alias). She explained that the photos of the athletes with McDonald’s are indeed surprising, but that they likely have already enjoyed dining at fast food restaurants now accessible to privileged residents in Pyongyang.“It’s true that on the whole, the athletes appear to enjoy more freedom under Kim Jong Un compared to under Kim Jong Il,” Lee said. “Nevertheless, they were all thoroughly coached and educated prior to departing on how to respond to reporters, how to interact with their Southern counterparts, and how to behave in general, meaning that it’s not their genuine personalities that we are seeing.”There have also been times during these Olympics where the North Koreans appeared more characteristically unusual in front of the cameras. On February 8, North Korean athletes were seen crying while watching a cheerful welcome performance of Ganggangsullae put on by North Korean musicians marching in the Olympic concourse in Gangneung.  News North Koreans appear more relaxed at Pyeongchang Olympics, but caveats remain SHARE In other instances, athletes from the North have been seen using a free soda vending machine inside the Olympic Village.  By Daily NK – 2018.02.21 3:17pm AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] While athletes were known to ignore reporters’ questions with emotionless, expressionless reactions in the past, throughout these Pyeongchang Olympics they have been smiling and waving at the cameras, and even answering questions, albeit only with brief responses. Scenes of North Korean athletes posing alongside and even joking with their South Korean counterparts have also been captured on camera. Photos appeared in South Korean media on February 8 showing North Korean pair figure skater Kim Ju Sik with South Korean athletes Lee Kang Bok, Lee Mi Hyun, and Jang Yu Jin. Figure skater Kam Kang Chan also uploaded a selfie with Kim to Instagram. The media even captured a North Korean holding a bag of food from McDonald’s – the symbol of American capitalism. On February 6, as the North Korean short track speed skating team was walking through the Olympic pavilion, a photographer snapped an image of one of the athletes carrying a large McDonald’s to-go bag. Other athletes have also been seen holding to-go cups from the American food chain. RELATED ARTICLESMORE FROM AUTHOR News As the 2018 Pyeongchang Winter Olympic Games pass their midpoint, the North Korean athletes, cheer squad, arts troupe, and other participants continue to receive a significant amount of attention from the South Korean press. But outside of North Korea’s participation in various performances and Olympic competitions, the activities of the group have remained challenging for the media to cover. Despite this, some are pointing out that the facial expressions and actions of the North Koreans at these Games appear to be more relaxed than during past trips abroad.  North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) A North Korean short track speed skater is seen holding a to-go bag from McDonald’s inside the Gangneung Olympic Village. Image: Yonhap News Agency A North Korean Olympic participant is seen using a free soda vending machine inside the Olympic Village in Gangneung. Image: Yonhap News Agency Hamhung man arrested for corruption while working at a state-run department store In another instance, North Korea’s Vice Sports Minister Won Gil Woo stumbled into an awkward situation while saying aloud the names of volunteer helpers at a press event on February 6. When he came to a person named “Ko Jong Un,” he paused for a moment and said, “I would not dare say this name” (referring to anyone other than Kim Jong Un), to which everyone, including Won, laughed heartily.Speaking about the reason for this mix of both seemingly natural behavior and the more expected awkward behavior of North Koreans at the Olympics, Lee said that it is likely due in part to the carefully controlled and thorough ideological preparation they are put through before going abroad, as well as the more fundamental communist aspects of their society. “Due to the rift between North and South Korean societies, behavior that South Koreans find strange may seem natural to North Koreans,” she explained. Facebook Twitter North Korean athletes appear tearful as they watch a performance by other North Korean musicians in the Olympic concourse on February 8. Image: Yonhap News Agency North Korea hikes “party contributions” Russia-based workers must pay by 30-55%last_img read more

Accommodation boost to support seasonal workers in Esperance

first_imgAccommodation boost to support seasonal workers in Esperance $40,000 provided to the Shire of Esperance to boost accommodation available to workers during the summer Unique project will see vacant backpacker hostel converted to temporary workers’ accommodation The McGowan Government will provide $40,000 to the Shire of Esperance to boost local accommodation availability for seasonal workers during the summer in Esperance.The funding will help the shire to undertake immediate building works to bring the former Bluewaters hostel back into use for workers’ accommodation.Esperance is anticipating high visitor numbers as people look to explore the State and Wander out Yonder for the summer holidays.Local businesses are already experiencing a labour shortage in key sectors such as tourism and hospitality, and it is anticipated that jobseekers will arrive to help fill vacant positions. A lack of low-cost accommodation for seasonal workers has been flagged as a potential issue.The former hostel has been vacant for some time and with hotel and motel accommodation anticipated to be at capacity during the summer months, the investment will ensure short-term accommodation is available for seasonal and emergency services workers.The shire, Esperance Chamber of Commerce and Industry and the Goldfields-Esperance Development Commission have been working with local businesses to support the rising demand for workers in the region and ensure Esperance businesses are prepared for the busy months ahead.Those seeking work in Esperance or across regional Western Australia are advised to visit the Wander out Yonder jobseeker information page at https://www.wa.gov.auAs stated by Regional Development Minister Alannah MacTiernan:“With a buoyant domestic tourism market, the Esperance region is experiencing a high demand for labour particularly in the tourism and hospitality sectors.“Repurposing the vacant backpacker accommodation is a unique opportunity to open up short-term accommodation options for seasonal workers in the region.”As stated by Agricultural Region MLC Darren West:“The McGowan Government is working hand-in-hand with the Shire of Esperance and local industry to ensure accommodation is available for jobseekers to stay and experience Esperance’s unique coastal lifestyle.“This will be a huge help to local industry gearing up for one of the busiest summers on record.”As stated by Shire of Esperance Chief Executive Officer Shane Burge:“I would like to sincerely thank State Government for their generous funding.“A lot of local businesses are really feeling the squeeze, with increasing demand and a lack of labour available, so this funding towards increased workers’ accommodation will go a long way to alleviating some of these issues.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, backpackers, building, Commission, Emergency, Esperance, Government, hotel, industry, Investment, market, Minister, project, regional development, visit, Western Australialast_img read more

UK Government and seafood industry make good progress on exports

first_imgUK Government and seafood industry make good progress on exports Temporary issues felt in the seafood supply chain are steadily improving, UK Government Minister for Scotland David Duguid heard in a meeting he chaired today with senior figures in the industry.“The UK Government has been striving night and day to help the industry and I am encouraged that solutions now in place are beginning to bear fruit,” he said after the latest meeting of the Scottish Seafood Export Working Group, attended online by the Scottish Seafood Association and Scottish Fishermen’s Federation.The Minister also spoke with DFDS, the logistics experts who operate the Larkhall hub, through which much of Scotland’s seafood exports pass.He said:It is essential that we know precisely what difficulties are arising so we can tailor solutions. The excellent feedback from DFDS is massively helpful. We are working to streamline systems, while supporting exporters and partners such as DFDS, and the commitment to making the system work is clear across the board.The UK Government has acknowledged there have been difficulties and we want to work together to provide solutions and restore confidence within this crucial sector so that world-class Scottish seafood can be harvested at sea and sped from port to plate for customers here and abroad.A £23m additional support scheme for the seafood sector has been announced and the UK Government knows the urgency of rapid delivery. Meetings such as today’s allow us to take on board the industry’s concerns about the eligibility for that support fund, about making it swift and readily accessible.There are still issues with the supply chain and we are doing all we can to ease them. I have today written to Scottish Government’s Cabinet Secretary for the Rural Economy, Fergus Ewing, encouraging take-up of our offer of additional support for Food Standards Scotland at Larkhall and providing further detail of our direct support for businesses with the embedding of experts to help firms with paperwork required by the EU.We want a workable, sure-footed system so the industry can maximise the benefits of Britain’s new status as an independent coastal state, outside the Common Fisheries Policy.The £23m fund will be targeted at fishing export businesses who can evidence a genuine loss in exporting fish and shellfish to the EU. Support will be available immediately and paid retrospectively to cover losses incurred since 1 January 2021. The scheme will be targeted at small and medium enterprises and the maximum claim available to individual operators will be £100,000.The Marine Management Organisation will administer the scheme on behalf of exporters across the UK. More details will be available on eligibility criteria in the coming days. The UK Government will be consulting industry across the UK and working with the devolved administrations on these eligibility criteria before they are confirmed.Other support provided to the industry includes:Constructive dialogue between UK Government and industry has already helped to resolve a number of initial problems that caused difficulties for the industry, including – but not limited to – computer system glitches.Issuing clear guidance on the required IT forms and paperwork to stakeholder representative groups, hauliers and businesses.Frequent meetings with businesses to understand and address issues as they arise.Working closely with individual businesses to help them get used to the new procedures required to ensure that errors or problems are tackled early.The UK Government is providing extra physical resources to support certification in Scottish Hubs.The UK Government has provided specialist certifiers to support Food Standards Scotland and DFDS.An experienced certifying officer from Defra is in Lanarkshire supporting Official Veterinarians with the issuing of health certificates.Additional Official Veterinarians are on standby, available to Scottish Hubs, to support exporters if required.Working with French authorities to ensure that minor administrative issues associated with EHCs do not prevent goods from entering the market, and working with the EU Commission to help member states adopt consistent approaches.Providing extensive guidance as part of a range of measures to help the industry meet new export requirements, including training, regular engagement and weekly bulletins.Separately, the Prime Minister has also committed to providing a £100m fund to help modernise fishing fleets, the fish processing industry, and rejuvenate a historic and proud industry in the UK, on top of the £32m that will replace EU funding this year. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Britain, Commission, EU, Europe, Fisheries, fishing fleets, French, Government, Prime Minister, resources, Scotland, scottish, supply chain, UK, UK Governmentlast_img read more

Brazil’s policies boost inclusion of Venezuelans, but challenges remain

first_imgBrazil’s policies boost inclusion of Venezuelans, but challenges remain UNHCRJoint UNHCR/World Bank Press ReleaseA recently arrived Venezuelan family at a UN shelter in Manaus, northern Brazil. © UNHCR/Felipe IrnaldoBrasilia – A new study by the World Bank and UNHCR, the UN Refugee Agency, launched today, highlights the challenges faced by Venezuelans forced to leave their country, as they attempt to build new lives in Brazil.An estimated 260,000 Venezuelans are currently living in Brazil after fleeing the social, political and economic crisis in their country. Despite a favourable legal framework in Brazil, many of them face obstacles accessing social services, the formal labour market and the education system. These barriers relate to language, and difficulties validating education documents and verifying skills.Although they have similar education levels, Venezuelans are 64 per cent less likely to be employed than their Brazilian hosts and their children are 53 per cent less likely to be in school.Brazil provides welfare assistance to non-nationals regardless their legal status, including during the pandemic. The number of Venezuelans accessing financial aid through social programmes has increased threefold since the outbreak of COVID-19. Today, 18 per cent of Venezuelans in Brazil receive this support.However, Venezuelans are 30 per cent less likely to be registered for such support than Brazilian nationals. Those who do receive financial aid have higher levels of education and professional qualifications than local recipients.“We analyzed administrative and census data from 2017 to 2020 to explore whether Venezuelan refugees and migrants face differential access to education, the formal labour market, and social protection programmes. We hope our recommendations can help Venezuelans find a home in Brazil,” said Rovane Battaglin Schwengber, a Social Education Specialist at the World Bank.According to the study, only 12 per cent of the working-age Venezuelan population in Brazil have jobs in the formal labour market. Venezuelans who are formally employed tend to be younger and are more likely to have completed high school. Nonetheless, they often work longer hours, receive lower wages and have less job security than nationals.In the education sector, both primary school-aged Venezuelan children and adolescents are at a disadvantage compared to their Brazilian peers. According to a 2020 education census, just 37,700 (or 45 per cent) of Venezuelan children were enrolled in school – compared to more than 85 per cent of Brazilian children.Even when they manage to enroll, Venezuelans often attend more overcrowded schools and are placed in lower grades. A shortage of Spanish-speaking teachers is another major obstacle to their success in the classroom.“Inclusion and integration in a foreign country is a long-term process that requires a truly holistic approach to be effective, as well as commitment and resources,” said Nikolas Pirani, an Associate Economist at UNHCR who worked on the study.UNHCR is encouraging the Government of Brazil to continue implementing policies to address the difficulties Venezuelans face, such as facilitating the process of skills verification, increasing language training for professionals and teachers, and increasing school capacity, especially in northern regions.The agency is supporting these integration efforts by assisting with the validation of diplomas, through partnerships with the private sector, and programmes to employ refugee women, among others. It also supports the government-led relocation programme from the border state of Roraima to southern regions of Brazil, where there are better prospects for Venezuelans to achieve self-reliance.Amongst Venezuelans in Brazil, nearly 47,000 have been recognized as refugees by the Brazilian government while more than 145,000 have received temporary residence visas. Another 96,000 are waiting for their asylum claims to be processed. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Brazil, children, covid-19, education, Government, job security, language, migrants, Outbreak, pandemic, refugees, resources, security, social services, UN, UNHCR, World Banklast_img read more

La Bohème: an LA Opera Multimedia Talk

first_imgHomeBriefsLa Bohème: an LA Opera Multimedia Talk Sep. 07, 2019 at 5:10 amBriefsEntertainmentEventsFeaturedNewsLa Bohème: an LA Opera Multimedia TalkGuest Author2 years agola operasanta monica public librarySteve KohnThe Main Library Santa Monica Public Library will present La Bohème: an LA Opera Multimedia Talk on September 14, at 2 p.m. in the Main Library, 601 Santa Monica BlvdLA Opera Community Educator Steve Kohn brings to light this most romantic of all operas via a multimedia talk. La Bohème is set against the bustling cafés and hidden corners of 19th-century Paris, and follows the triumphs and toils of a band of struggling young artists as they search for love, life and laughter against impossible odds.This program is free and open to the public. Seating is limited and on a first arrival basis. This is an event of 50+ program series. For more information, call the Santa Monica Public Library at (310) 458-8600 or visit smpl.org. The Santa Monica Public Library is wheelchair-accessible. For disability-related accommodations, call Library Administration (310) 458-8606 one week prior to the event.  The Main Library is directly served by Big Blue Bus routes 1, R10 and 18. The Expo Line and other bus routes stop nearby. Bicycle parking racks are available.Judith S. Graham, Public Services LibrarianTags :la operasanta monica public librarySteve KohnThe Main Libraryshare on Facebookshare on Twitteradd a commentThe Maiden FactorEnjoy a Summer Afternoon of Songs and SundaesYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall7 hours agoBriefsLos Angeles Sheriff’s deputy accused of destroying evidence of 2019 assaultAssociated Press11 hours agoBriefsCalifornia State Treasurer Fiona Ma to Speak at Online Santa Monica College Commencement Ceremony June 25Guest Author11 hours agoEntertainmentLifeNoteworthyTales of Two DaughtersCharles Andrews13 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor18 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press18 hours agolast_img read more

CEOs repeat call for lighter regulation

first_img Mobile World Live is the online service dedicated to providing the mobile industry with daily news coverage & analysis of the biggest global market developments. Read more Mobile World Live AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 25 FEB 2013 Author Home CEOs repeat call for lighter regulation The opening keynote session at Mobile World Congress brought together the chief executives of AT&T, China Mobile, Telecom Italia, Telefónica and Vodafone. Under the theme of mobile operator strategies, talk of digital revolution and unprecedented industry transformation – spurred on by LTE and cloud-based technologies – was dominant.Randall Stephenson, AT&T’s chief executive, claimed the mobile industry was starting a new era. “LTE and cloud is the most powerful technological combination we have ever seen,” he said. “Technology innovation is moving at warp speed.”Stephenson anticipates mobile data traffic volumes in the US will increase by an enormous 30,000 per cent between 2012 and 2017, spurred on by access to cloud-based applications over low-latency and high-speed LTE networks. That expansion comes on the back of 75,000 per cent growth during the previous six years, driven by 3G networks and Apple’s iPhone. 3G transformed the mobile industry, added Stephenson, but the ‘cloud era’ will change other industries as well.But if the rapid development of networks and digital eco-systems is to continue, and help boost GDP in the process, much more investment will be required. Adopting an oft-repeated theme in recent years, Stephenson called for lower taxes to encourage capital investment, as well as for regulators to think through their desired outcomes on spectrum allocation. “There is a choice of rapid adoption of latest technologies and capabilities, and all the downstream economic multipliers that come from that, or there is the other option of hyper competition and the lowest prices possible.”Stephenson echoed the views of Franco Bernabè, chief executive of Telecom Italia and GSMA chairman. “Excess competition in Europe is depressing the market,” he said, pointing to around 170 mobile network operators and over 700 MVNOs in the region. “Governments should avoid imposing excessive burdens on the industry in the form of specific taxes and spectrum charges.”César Alierta, Telefonica’s chief executive, argued that internet players should help shoulder the burden of operators’ network and spectrum costs, claiming that regulators have been giving the likes of Google and Facebook a relatively easy time as they enjoy near-monopoly status. “Nowadays, the internet is dominated by only a few players that restrict our customer choice options,” he says. “If the same regulation applied to telcos was applied to other players – to break up monopolies – they would have been obliged to sell devices to competitors at cost with a small margin. There is not a level playing field.”Vodafone’s chief executive, Vittorio Colao, said that regulators in Europe have been over zealous in regulating wholesale and retail prices. “These markets are already very competitive,” he said. Previous ArticleNokia talks up apps effortsNext ArticleNTT Docomo preps business model revamp last_img read more

Mobileum strikes deal for Evolved Intelligence

first_img LG Uplus blazes trail for Verizon 5G roaming plan Mobileum targets 5G and IoT push with SIGOS takeover Tags Related AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 29 OCT 2018 Kavit Majithia Previous ArticleSamsung mulls options for 2019 flagshipNext ArticleChina app maker ByteDance raises $3B Author Software company Mobileum sealed a deal to acquire telecoms services provider Evolved Intelligence, a move it said will boost its security and analytics platform for mobile operators.In a statement, Mobileum said UK-based Evolved Intelligence specialises in cloud-hosted roaming value added services, along with analytics-based fraud management, and signalling security solutions for mobile operators and signalling providers worldwide.The deal, of which financial details were not disclosed, will see Mobileum add Evolved Intelligence’s engineering team to its workforce and allow it to “expand the depth and breadth of our solution portfolio”, explained Mobileum CEO Bobby Srinivasan.Mobileum, which was acquired by Audax Private Equity in 2016, has been focused on growing its suite of analytics offerings in recent years, building on 17 years’ experience in providing roaming services.The company has worked with mobile operators to develop its Active Intelligence platform, which provides real-time insights covering roaming, fraud and security.Mobileum plans to combine its threat analytics platform with Evolved Intelligence’s signalling firewall to “create an innovative intrusion detection and protection framework for network operators”.The deal will also help boost Mobileum’s presence in Europe, it said.“Mobileum, with its global customer reach, is an ideal partner for Evolved Intelligence at this stage in our growth and the partnership places us securely at the centre of an exciting time in the telecoms industry,” added Evolved Intelligence CEO Paul Gill. Subscribe to our daily newsletter Back Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >> Read more Home Mobileum strikes deal for Evolved Intelligence AnalyticsRoaming Partner Interview: BICSlast_img read more

Mayor Recall Wears on Troy

first_img Email Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. Click the image or use the arrows to see more images from Troy.TROY – It’s not often that a reporter from out of town walks into Tina Moore’s Preview Cafe and starts asking questions. But with all that has happened in Troy and its government over the last few months, no one seemed that surprised. “Now be careful what you say Tina, you’ve got friends on both sides,” a patron yelled into the kitchen as he finished his hamburger. “Well that’s why I’m being careful,” she said, laughing. “But I do have an opinion.” These days, just about everyone in this town of 900, a few miles down U.S. Highway 2 from the Idaho border, has an opinion about the dispute between a few members of the city council and Mayor Donald Banning, who is facing a recall election this month. Because of the dispute, the full city council has not met since March and many residents are growing frustrated with what they think is a distraction from the town’s real issues.“It’s just silly,” Moore said flatly. “People wish their elected officials would move on to Troy’s matters, not their personal matters.” In late January, City Councilor Fran McCully began circulating a petition to recall Banning. Among the reasons she gave were that Banning had tried to fire City Attorney Charles Evans without consent from the city council; that in March 2011 the mayor cashed a check to cover travel expenses that were never approved; that Banning had gone ahead with the construction of a picnic area at a local park and never consulted the council; and that Banning had gone forward with the codification of city ordinances but never told anyone. McCully said Banning, who had served on the council since 2000, has been defiant since he was elected mayor in November 2009. For his part, Banning said he has only been doing his job and the recall is an effort by McCully and Council President Phil Fisher to gain more power. “I’d like to be able to do my job and not have to answer to those people,” Banning told the Beacon in February. “They have to answer to me.” In early February, McCully filed a petition for recall with Lincoln County election officials, along with an affidavit supporting it. Once the petition was deemed legitimate, Banning was told that he would have to step down or face an election. Instead he filed a temporary injunction and restraining order against the recall. On March 14, both sides met in Lincoln County District Court to make their arguments. Banning and his attorney Jim Reintsma said that while mistakes had been made, everything was corrected by the time McCully filed the recall and therefore she lied in her affidavit. But Judge Jim Wheelis disagreed, and on March 20 ruled that the recall election would move forward. He wrote, “This court concludes that Mayor Banning’s acts were not simple mistakes, but a concerted intent to ignore the council, the state statutes and the (City of Troy’s) Charter.” Election officials then moved forward and ballots were sent to voters in Troy on April 30. All of them are due back May 24 and will be counted that night. Meanwhile, Banning said he has appealed the lower court’s decision to the Montana Supreme Court. Since the recall began, the Troy City Council has accomplished little, a point of frustration for many residents. The last time all four members of the council and the mayor met for a regular city council meeting was Feb. 15. The full council also met on March 29 for a special meeting to try to temporarily fill the city attorney position (Evans was terminated by the council on Feb. 15). Since then, members of the council have missed meetings for various reasons, including sickness, work and family. Because the city council has not even appointed a temporary city attorney, the town may not be able to prosecute those who have broken city ordinances, including traffic violations. Banning said because there’s no prosecuting attorney, charges may have to be dropped and paid bonds returned. From Moore’s Preview Cafe to the bars on Yaak Avenue, the mayoral recall has become “the talk of the town” and many people are unhappy with the mayor, the council, or both, while others won’t talk about it because they know those involved. Moore said the council should get back to the people’s business, such as cleaning up the entrance to town and making some improvements to the park. “They are spending taxpayers’ money and wasting people’s time when they could be getting us swings at the park (for the kids),” she said. “Quit fighting and get us a pool!” Moore, who owns the cafe and neighboring one-screen movie theater, said she doesn’t believe the mayor or council members wanted to get elected just to “screw the town over,” but does believe they have lost sight of what is best for the community. She said if the council and mayor could work together to make Troy a more attractive place, more tourists would come and spend money. David Hall, who works at the combination hardware store and pharmacy on Highway 2, thinks the council has lost its ability to work together and wants to see all five elected leaders booted from office. “This is the type of stuff you expect from Washington D.C., not Troy, Montana. It’s embarrassing,” Hall said. “They are just a bunch of clowns and they’ve turned the town into a circus.” Hall, like many others in town, is worried that Troy’s image has been damaged because of the infighting. He said the town needs new, levelheaded leaders who can compromise, adding that when election season arrives he would consider running for council himself. Hall said he knows Banning personally, but thinks it would be best if he stepped down. Banning said he plans on remaining in office and maintains that he has done nothing wrong. He said it would be worse if he’s forced out of office and McCully and Fisher remain. He said if councilors, including Fisher and McCully, continue to miss meetings it would be grounds for their termination, according to Montana Code Annotated 7-4-4111, which states that a municipal office is vacant after three months, unless someone is sick or has an approved absence. “They are not living up to the responsibility of representing the people of this town,” Banning said. “They’re dragging us down.” McCully and Fisher wrote in a joint letter to area newspapers that one of the reasons they have missed recent meetings to appoint a temporary city attorney (which has been on the agenda of seven regular or special meetings since January) was because the mayor canceled the April 2 gathering and proposed a meeting the following day to hire a permanent attorney. McCully said a permanent attorney shouldn’t be hired until after the recall. She also denies the recall is personal. “I have no personal issues; I just want the city to be run efficiently,” McCully said. But at the bars on Yaak Avenue, along the railroad tracks that split town, people tell a different story. At the VFW and The Home Bar, established in 1914, a year before Troy was incorporated, even those who signed the recall petition are starting to second guess how they will vote. As one bartender said, “It’s becoming a pissing match.” Buck Buchanan, who was playing an afternoon game of pool at The Home Bar, said he thinks most of the blame lies with Banning, but that all of them bear some responsibility. More than anything, the 40-year resident of Troy is just disappointed. “It’s stupid,” he said. “It ain’t like what Troy used to be.” last_img read more