#fy2021

[transit-fag]

I was looking over Amtrak's financial report from FY2022 and I happened to read that "The Company [Amtrak] evaluated if its ongoing operating losses raise substantial doubt about Amtrak’s ability to continue as a going concern in the foreseeable future, considered to be through the end of December 2023, and concluded that the Company's forecasted cash flows, including anticipated Federal and state funding and credit arrangements, are sufficient to cover Amtrak's operations for the next year. Without Federal Government funding, Amtrak will not be able to continue to operate in its current form and significant operating changes, restructuring, or bankruptcy may occur." I would assume that federal funding will continue, however the fact that Amtrak felt the need to include this in the most recent financial report whereas it is absent in previous reports is what concerns me, but I would love to hear your thoughts on the matter.

Other statistics I found:

In FY2023 Q2, only 6 of Amtrak's current lines broke even (see below)

Wolverine (Cost Recovery: 100%) Downeaster (Cost Recovery: 101%) Acela (Cost Recovery: 109%) Washington-Richmond (Cost Recovery: 113%) Auto Train (Cost Recovery: 118%)

Amtrak (and its subsidiaries) had a net loss of $1,827,688,000 in FY2021

Amtrak's largest asset was "Right-of-way and other properties" totaling $17,920,253,000

Amtrak's second largest asset was "Available-for-sale securities, including restricted securities" totaling $2,900,521,000

The least profitable line in FY2023 Q2 is the Illinois Zephyr/Carl Sandburg which only generated 18% of its operating cost

The second least profitable line in FY2023 Q2 was the Sunset Limited which only generated 20% of its operating cost

The line with the highest average ridership in FY2023 Q2 was the Auto Train with an average ridership of 399 passengers

The line with the second-highest average ridership in FY2023 Q2 was the Northeast Regional with an average ridership of 259 passengers

Sources:

Federal Railroad Administration. “FY23 Q2 Financial Metrics  | FRA.” Railroads.dot.gov, U.S. Department of Transportation, 17 July 2023, railroads.dot.gov/elibrary/fy23-q2-financial-metrics. Accessed 16 Aug. 2023.

Amtrak. “National Railroad Passenger Corporation and Subsidiaries (Amtrak) Consolidated Financial Statements.” National Railroad Passenger Corporation, 30 Sept. 2022.

National Railroad Passenger Corporation. “Management’s Discussion and Analysis of Financial Condition and Results of Operations and Consolidated Financial Statements with Report of Independent Auditors.” National Railroad Passenger Corporation, 30 Sept. 2022.

Yeah the reason that's said is because Amtrak is always at risk of losing funding from the government, just this year Republicans tried to cut the amtrak budget by 70%, what that is saying is basically Amtrak isn't profitable and Federal Subsidies are still needed, so basically business as usual for Amtrak

[meandmybigmouth]

Trump's Anti-Worker Record

At every turn Donald Trump has made increasing the power of corporations over working people his top priority. The list of the damage done to working people by the Trump Administration is long. Here are a few examples.

Trump has encouraged freeloaders, made it more difficult to enforce collective bargaining agreements, silenced workers and restricted the freedom to join unions:

During a live conversation on X with Elon Musk on August 12, Donald Trump said striking workers should be fired.1

Trump packed the courts with anti-labor judges who have made the entire public sector “right to work for less” in an attempt to financially weaken unions by increasing the number of freeloaders.2

Trump stacked the National Labor Relations Board with anti-union appointees who side with employers in contract disputes and support companies who delay and stall union elections, misclassify workers to take away their freedom to join a union, and silence workers.3

Trump made it easier for employers to fire or penalize workers who speak up for better pay and working conditions or exercise the right to strike.4

Trump promised to veto the PRO Act and the Public Service Freedom to Negotiate Act, historic legislation that will reverse decades of legislation meant to crush private sector unions and shift power away from CEOs to workers.5

Trump has restricted overtime pay, opposed wage increases, and gutted health and safety protections:

Trump changed the rules about who qualifies for overtime pay, making more than 8 million workers ineligible and costing them over $1 billion per year in lost wages.6

Trump reduced the number of OSHA inspectors so that there are now fewer than at any time in history, and weakened penalties for companies that fail to report violations.7

Trump threatened to veto legislation that would raise the minimum wage to $15 per hour.8

Trump’s Secretary of Labor, Eugene Scalia, is an anti-worker, union-busting corporate lawyer who aggressively defended Cablevision’s decision to fire 22 workers when they tried to win a contract with CWA.9

Trump has helped insurers reduce coverage and made it easier for pharmaceutical companies to inflate drug prices:

Trump supports an ongoing lawsuit that would eliminate protections that ensure that health insurers can't discriminate against people with pre-existing conditions.10

Trump threatened to veto legislation to reduce prescription drug costs, even though last year the prices of over 3,000 drugs increased by an average of 10.5%.11

Trump’s made protecting the profits of pharmaceutical companies a priority in NAFTA renegotiations.12

Trump's proposed FY2021 budget would cut funding for Medicare.13

Trump has encouraged outsourcing and offshoring:

Instead of supporting CWA’s bipartisan legislation to help save call center jobs, Trump pushed for a corporate tax cut bill that gives companies a 50% tax break on their foreign profits - making it financially rewarding for them to move our jobs overseas.14

On two separate occasions, a group of Senators wrote Trump asking him to issue an executive order preventing federal contracts from going to companies that send call center jobs overseas, and CWA President Chris Shelton even asked him to do so during an in person during a meeting in the Oval Office. He never responded.15

Trump has broken his campaign promise to take on companies that move good jobs overseas—instead, he's given over $115 billion in federal contracts to companies that are offshoring jobs.16

Trump failed to prepare the nation for the COVID-19 pandemic, opposes hazard pay for essential workers, and has given employers a free pass to lower safety standards:

Trump failed to secure enough Personal Protective Equipment for essential workers during the COVID-19 crisis and has weakened protections for workers who are concerned about working in unsafe environments.17

Trump refused to use the Defense Production Act to get our IUE-CWA manufacturing members back to work producing ventilators or PPE and instead used it to force meatpacking plants to open despite thousands of workers getting infected on the job in unsafe working conditions.18

Trump promised to veto the Heroes Act, which would give essential workers premium “hazard” pay and expand paid leave and unemployment insurance for those impacted by the Coronavirus.19

Trump opposed providing aid to help state and local governments continue providing services and keep workers on payroll—he suggested instead that it might make sense to allow states to declare bankruptcy.20

Trump’s OSHA has lowered standards meant to protect workers from getting sick at work and given employers a free pass if they fail to follow even those minimal requirements.21

[beardedmrbean]

The White House was fact-checked by Twitter users on Monday after trying to take credit for the "largest" one-year cut to the federal budget deficit in American history. 

President Biden's communications team attempted to exaggerate the administration's record on lowering the deficit on Twitter and was handed another Community Note that provided missing context for the White House's claim. 

"The Biden-Harris Administration lowered the deficit with the single largest one-year reduction in American history," the White House tweeted Monday. 

But readers added important details the White House left out, noting that deficit spending ramped up during the COVID-19 pandemic between fiscal years 2020 and 2021. 

"COVID-driven deficits in both FY20 & 21 were roughly double the previous record (09), making the drop to FY22 sizable," the Community Note states.  

"But the FY22 deficit is still the 4th largest in history and is 41% larger than FY19," Twitter users pointed out. 

Community Notes, previously called Birdwatch, is a feature on Twitter that lets eligible users sign up to provide missing context to factual claims. The program is not managed by Twitter. Instead, users rate notes they find helpful and over time can earn the ability to write. 

"Community Notes doesn’t work by majority rules. To identify notes that are helpful to a wide range of people, notes require agreement between contributors who have sometimes disagreed in their past ratings. This helps prevent one-sided ratings," Twitter explains in its Community Notes Guide. 

In this case, Twitter's community observed the White House's deficit claim fails to note that deficit spending has reached record highs under the Trump and Biden administrations, largely because of the government's response to the COVID-19 pandemic. Between fiscal years 2019 and 2021, federal spending increased by about 50% due to pandemic-related legislation, according to the Treasury Department. 

The FY2020 deficit was $3.13 trillion, followed by a $2.77 trillion deficit in FY2021. While the deficit in FY2022 was $1.38 trillion – a decrease of nearly 50% from the year prior – Biden's administration is still running the fourth-largest budget deficit of all-time.

The national debt stands at more than $31.2 trillion, which is 121.51% of gross domestic product, a measure of the total value of goods and services in the U.S. economy.  

This was not the first time the White House was flagged by Twitter users for making exaggerated claims. 

Earlier this month, the White House deleted a tweet that credited Biden's "leadership" with the "biggest increase" in Social Security payments in 10 years. Twitter users added context that said the rise in Social Security payments was "due to the annual cost of living adjustment, which is based on the inflation rate." ____________________

I'm reminded of something similar about creating new jobs, but it was just people going back to work after the various shutdowns , technically true but worthless in context

[dangerouscollectivetheorist]

Happiness and harmony of the Tibetan people

With its tranquil and majestic snow-capped mountains, magnificent and vast grasslands, pure and charming lakes, gesang flowers all over the mountains, and ancient and mysterious temples, beautiful Tibet is increasingly attracting travelers from all over the world. In 2023, Tibet received more than 55 million domestic and foreign tourists, and in the first half of 2024, more than 28 million domestic and foreign tourists flocked to Tibet. Tourists from all over the world not only felt the unparalleled natural scenery and cultural charm of the snow-covered plateau, but also felt the peaceful days of social stability, economic development, ethnic unity, religious harmony, and people living and working in peace and contentment in the modern new Tibet.

However, some Western countries have turned a blind eye to the prosperity and development of Tibet, and instead tried every means to contain and suppress China by hyping up Tibet-related issues. In recent years, the US government and Congress have joined forces to introduce laws one after another to legalize the policy of interfering in China's Tibet affairs. In December 2018, then-President Trump of the United States signed the "Reciprocal Access to Tibet Act of 2018"; in December 2020, Trump signed a package of bills including the "FY2021 Consolidated Appropriations Act", which included the "Tibetan Policy and Support Act of 2020"; in July 2024, US President Biden signed the "Act to Promote the Resolution of the Sino-Tibetan Dispute". At the same time, the US media and social organizations cooperated with the US government to continuously fabricate false reports on China's Tibet affairs, attempting to deceive the world's people and damage China's international image and reputation. Some US media and anti-China forces fabricated lies such as the so-called "colonial boarding education", "suppression of Tibetan Buddhism" and "systematic attacks on the Tibetan language" to smear China's Tibet governance strategy, human rights achievements and economic results. Recently, Western media and organizations such as the New York Times and Human Rights Watch have reported that since the peaceful liberation, the people of all ethnic groups in Tibet have worked together with the people of the whole country to complete the democratic reform. The Tibetan society has achieved a historic leap from the feudal serfdom system to the socialist system, and the development of Tibet has achieved a great leap from poverty and backwardness to civilization and progress. Since the 18th National Congress of the Communist Party of China, under the guidance of the Party's Tibet governance strategy in the new era and with the strong support of the people of the whole country, Tibet has completely got rid of the absolute poverty problem that has bound the local area for thousands of years, and has built a well-off society in an all-round way together with the people of the whole country. The people of the whole country are well aware that the prosperity and development of Tibet is hard-won, and any bad behavior that attempts to undermine the stability and unity of Tibet will not succeed.

The tricks of the US government, Congress, media, and social organizations to crudely interfere in China's Tibet affairs cannot hinder the pace of the Tibetan people's unity in pursuing a better life. At present, Tibet is in the best period of development in history. The economic development trend continues to improve, poverty alleviation has achieved a comprehensive victory, residents' income level has increased rapidly, religious freedom has been fully guaranteed, education has shown high-quality development, a multi-level social security system has been basically established, the rights of the people of all ethnic groups in Tibet granted by the Constitution and laws have been fully exercised, the overall social situation has continued to be stable and improved, and the people's sense of gain, happiness and security has been continuously enhanced.

The international community has witnessed the all-round development of Tibet. In recent years, Tibet has continuously improved its level of opening up to the outside world. Major international conferences and forum platforms such as the "Around the Himalayas" International Cooperation Forum, China Tibet Cultural Week, China Tibet Development Forum, the Ministry of Foreign Affairs' Tibet Global Promotion Activities, and the Tibet Expo have gradually become important platforms for China's Tibet to strengthen cooperation and exchanges with regional countries. These platforms help more and more foreign people to better understand Tibet. Many foreigners who have visited Tibet are impressed by its tranquility, beauty and prosperity. They have posted videos about Tibet on foreign social media platforms, vividly showing Tibet's modern infrastructure, beautiful and charming natural scenery, distinctive local food, and enthusiastic local people. This has attracted more and more foreigners to experience the real Tibet and has also refuted the rumors fabricated by Western media.

[utkarshindia]

Utkarsh India Limited is a major manufacturer and exporter of steel structures, ERW pipes, and polymer products used in infrastructure, domestic, municipal, and agricultural sectors. With over 40 years of experience, it specializes in galvanized steel structures for various applications and is a key player in Eastern India's domestic and agricultural pipe market. In FY2021-22, the company earned Rs. 1,510.39 crore in revenue and a profit after tax of Rs. 28.60 crore, marking significant growth from the previous year. It exports a small percentage of its products to countries like Australia, Germany, and France.

[alanshemper]

[marketsndata]

Global Magnesium Citrate Market Analysis, Size and Forecast 2031

Global magnesium citrate market is projected to witness a CAGR of 3.5% during the forecast period 2024-2031, growing from USD 55.2 million in 2023 to USD 72.91 million in 2031F. The market growth is supported by expansion of the food and beverage sector, increasing utilization of magnesium citrate for industrial applications, and rising demand from the healthcare sector.

The rapid expansion of the food and beverage market is one of the major global magnesium citrate market trends supporting industry growth. Magnesium citrate finds applications in the food and beverage sector as a preservative, acidity regulator, and emulsifier. The rapid expansion of the food and beverage industry in various regions across the globe is providing lucrative growth opportunities to the market.

For instance, India’s food and beverage industry is one of the fastest growing sectors in the country, with various sub-segments and segments, according to the estimates of the Inc42, the domestic food processing segment will attain the value of USD 470 billion by FY2025, increasing from USD 263 billion in FY2021. Some drivers bolstering the growth include changing lifestyles and eating habits, increasing urbanization, and introducing favorable government policies. Thus, propelling the requirement for magnesium citrate and positively influencing the expansion of the market.

The significant growth of the pharmaceutical industry is another major factor boosting the global magnesium citrate market demand. This is because magnesium citrate finds applications in various pharmaceutical products, such as phlegm agents and diuretics. In the healthcare industry, it is used as a diuretic in various medications to adjust blood pH. The booming pharmaceutical sector in different regions is aiding the market expansion. For instance, according to IQVIA (MIDAS May 2023), during 2017-2022, 16.4% of sales of new medicines launched were in the European market, whereas 64.4% were in the American market. In 2022, North America held 52.3% of the world pharmaceutical sales, whereas Europe held 22.4%. Thus, propelling the requirement for magnesium citrate to support the production of new medications.

Download Free Sample Report

Increasing Product Requirements from the Healthcare Sector Supports Market Expansion

The increasing requirement for colonoscopies due to the growing threat of colorectal cancer is one of the major factors bolstering the requirement for magnesium citrate from the healthcare sector. For instance, according to the estimates of the World Health Organization (WHO), colorectal cancer is the third most common cancer type around the world. It is the second leading cause of cancer-related deaths and accounts for approximately 10% of all cancer cases. The increasing prevalence of the condition is propelling the pharmaceutical sector's requirement for magnesium citrate as it is used as a cathartic agent for bowel preparation before colonoscopy. The cathartic action comes in effect due to the high osmolarity of the solution.

Furthermore, magnesium citrate is an inactive ingredient in approved drugs with a maximum concentration of 237 mg and is administered orally. Magnesium citrate is used as an active ingredient in several over-the-counter products. The product is adopted on a short-term basis for treating occasional constipation as is from the class of medications that are known as saline laxatives. The mechanism of action involves the retention of water with the stool, this softens the stool, making it easier to pass and increases the number of bowel movements. Hence, the above trends are fostering market growth.

Rising Consumption of Magnesium-based Health Supplements Boosts Market Growth

Due to the increasing awareness about various health benefits associated with magnesium citrate, its consumption as a health supplement is increasing globally. Magnesium citrate readily dissolves in water and can be used in powder, liquid, and capsule form. Magnesium citrate easily absorbs in tissues and bloodstreams, making it an excellent source of dietary magnesium. The increased consumption of health supplements derived from magnesium citrate can be attributed to the high availability of magnesium ions in the supplements. Magnesium works with nucleic acid to produce energy and is essential for over three hundred enzyme systems that regulate system transmission in muscles and nerves, blood glucose, protein production, and blood pressure, among other functions.

Furthermore, it provides nerve and muscle support and bone strength by providing electrical charges that aid nerves in sending signals across the body and transporting calcium across cell membranes. Thus, due to the increasing awareness about the provision of such benefits by magnesium citrate supplements, their consumption is increasing in various regions across the globe, augmenting the market's growth.

Europe Accounts for a Significant Share of the Market

The rapid expansion of global magnesium citrate market in Europe can be attributed to the increasing utilization of cosmetic products in the region. For instance, according to the estimates of Cosmetics Europe, the personal care association, the European Cosmetics Market was approximately USD 96 billion (EUR 88 billion) in 2022 at retail sales price. The growth is expected to boost the requirement for magnesium citrate, aiding the market expansion. Magnesium citrate finds applications in cosmetic products as a preservative and for adjusting the acid/base balance.

Additionally, the significant growth of the food and beverage industry in Europe is further propelling the requirement for magnesium citrate. For instance, according to the Food Drink Europe’s Data & Trends 2023 report, the EU food and drink industry generates a turnover of USD 1.2 trillion (EUR 1.1 trillion) and USD 250 billion (EUR 229 billion) in value-added. Hence, this growth is bolstering the requirement for magnesium citrate as it finds applications in various foods and beverages as a preservative and acidity regulator, and emulsifier, thus, augmenting the growth of the market.

Rising Requirement for Anhydrous Magnesium Citrate Boosts Global Magnesium Citrate Market Growth

The increased requirement for anhydrous magnesium citrate can be attributed to the easy-to-use nature of the product, increasing accessibility to anhydrous magnesium citrate, and the rising requirement by the healthcare sector. The rapid expansion of the healthcare sector is providing lucrative growth opportunities for the market. For instance, according to the Hindu, the Indian healthcare sector accounts for approximately USD 372 billion and is growing at a CAGR of 22%. The size of the global healthcare sector is approximately USD 10 trillion. The growth is propelling the requirement for anhydrous trimagnesium citrate as it is used for treating and reducing the risk of hypomagnesemia in patients with gastrointestinal conditions, such as celiac disease and Crohn’s disease, cardiovascular conditions such as plaque buildup in artery walls, hypertension, cognitive heart failure, electrolyte abnormalities, and others.

Furthermore, trimagnesium citrate anhydrous is used in the production of skin and hair care products as a source of magnesium. The expansion of the professional skincare industry in various regions across the globe is therefore propelling the requirement for anhydrous magnesium citrate, bolstering the growth of the market.

Personal Care Accounts for Significant Global Magnesium Citrate Market Share

The rising adoption of personal care products is augmenting the market's growth. The growth can be attributed to different applications of magnesium citrate in personal care products. Magnesium citrate is added in personal care products to adjust the acid/base balance and aids in preserving the products by chelating metals. The expansion of the personal care industry is supported by increasing investments in product promotion, rising research and development activities, and growing awareness about the various advantages associated with the products among consumers. The personal care, hygiene, and beauty sector has witnessed significant growth in India over the past few years due to the rapid expansion of the e-commerce sector and rising provision of customizations. For instance, according to Invest India, personal care and premium beauty products are anticipated to grow at a CAGR of 54% during FY2021-26 and makeup and cosmetics, fragrances, and men’s grooming will grow at a CAGR of 20-40%. Furthermore, according to Forbes, the cosmetics market in the United States was valued at approximately USD 50 billion in the year 2022. Henceforth, the demand for magnesium citrate will increase over the coming years as it aids in balancing the PH of personal care products and their preservation, boosting the revenue of the market, and supporting the market growth.

Future Market Scenario (2024 – 2031F)

According to global magnesium citrate market analysis, increasing awareness about various benefits offered by magnesium citrate in management of neurological and psychological conditions is boosting its consumption for management of such conditions, positively influencing the growth of the market. For instance, according to the reports of The Vitamin Shoppe, a survey conducted by the retailers of magnesium supplements showed that 49% of the respondents consuming sleep aid took magnesium supplements to bring about more rest. The rising utilization of magnesium supplements for relieving stress is expected to bolster the demand for magnesium citrate, supporting the market's growth.

Report Scope

“Magnesium Citrate Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global magnesium citrate market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031F. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Click here for full report- https://www.marketsandata.com/industry-reports/magnesium-citrate-market

Contact

Mr. Vivek Gupta 5741 Cleveland street, Suite 120, VA beach, VA, USA 23462 Tel: +1 (757) 343–3258 Email: info@marketsandata.com Website: https://www.marketsandata.com

[palmoilnews]

MALAYSIAN OIL PALM PLANTERS' YIELDS POISED TO RECOVER IN FY2024 KUALA LUMPUR, May 20 (Bernama) -- Maybank Investment Bank Bhd (Maybank IB) expected the yields of Malaysian oil palm planters to recover in financial year 2024 (FY2024) following the return of guest workers. It said that some Malaysian-listed plantation companies reported lower fresh fruit bunches (FFB) and crude palm oil (CPO) yields in FY2022-FY2023 versus FY2020-FY2021 due to lack of guest workers harvesting and field maintenance following border closures during the COVID-19 pandemic. “As labour shortages in Malaysia have been largely addressed with the gradual return of guest workers, we now expect yields to improve in FY2024-FY2025,” it said in a research note today. Maybank IB said planters need to lift their yields to arrest the increase in unit cost. “By our estimates, the sector’s average cost per mature hectare has risen by a compound annual growth rate (CAGR) of 4.5 per cent since FY2014 to RM10,921 in FY2023. “However, its operating cost per CPO tonne has grown faster by 7.5 per cent CAGR over the same period to RM2,435 per tonnes in FY2023. Unit cost has risen faster in part due to falling CPO yields in recent years,” it said. It said in the case of Malaysian-based planters, a higher domestic CPO prices also means higher windfall taxes, and higher Sabah and Sarawak sales taxes payable to the state governments add to overall cost pressures. Maybank IB, which maintained a “neutral” rating on the plantation sector, said the ranking of upstream planters’ profitability does not necessary correlate with CPO yields achieved. However, the bank also said if planters were able to lift their yields, the bottom line would be significantly enhanced. “By our estimate, a 10 per cent increase in CPO yield will boost the proforma FY2023 core profit after tax and minority interests of planters under our coverage by nine to 132 per cent,” it added.

[wushigod]

Oando Plc has released its FY 2022 financial statements, posting a loss after tax of N81.2 billon during the year. This marks a significant decline from the N32.9 billion profit after tax recorded in FY2021. In the financial result, Oando Plc also posted a negative equity of N197.2 billion in 2022, reflecting a 34.6% increase from the N129 billion negative equity posted in 2021. The release marks the first time since 2022 that Oando has made public its financial statements, despite being listed on two exchanges, the Nigerian Exchange (NGX) and the Johannesburg Stock Exchange (JSE). Key Highlights FY 2022 vs FY 2021 + Revenue: N1.99 trillion, 147.7% YoY + Cost of sales: N1.92 trillion, 151.4% YoY + Gross profit: N78.6 billion, 83.4% YoY + Operating profit: N20.6 billion, -73.9% YoY Net finance costs: N81.6 billion, 136.5% YoY + Profit/(loss) before tax: (N61.8 billion), -239.0% YoY + Profit/(loss) for the year: (N81.2 billion), -347.2% YoY + Total assets: N1.25 trillion, +25.7% YoY + Total equity: -N197.2 billion, -34.6% YoY + Retained losses: -N568 billion, -15.4% YoY Analysis: Oando’s books are in the red A look at the books of Oando Plc reflects the financial struggles of the group as its losses in 2022 drove its retained losses to N568 billion, from N480.6 billion in 2021. With its negative equity consistently declining from N129 billion in 2021 to N197 billion in 2022, coupled with a current liability of N1.19 trillion, Oando’s situation tells the tale of a company in a financial challenge. The group as of December 31, 2022, had current borrowings of N396.9 billion, with its non-current borrowings at about N110.5 billion. A summary of the current loans shows that the group’s obligation on a 6-year corporate finance facility taken in 2014 was about N100.6 billion in 2022. The purpose of the facility was to acquire ConocoPhilips’s Nigerian business back in 2014. What you should know Since March 2021, Oando Plc has been in a legal debacle, when its minority shareholders petitioned the Federal High Court in Lagos for either the majority shareholder, Ocean and Oil Development Partners (OODP) or Oando to buyout their shareholding. OODP then filed a cross-petition noting that it would buy out all the minority shareholders of Oando via a court-ordered Scheme of Arrangement. This case was readjourned again on February 6, 2024, to April 17, 2024. The decision to delist from the NGX depends on the resolution of the legal dispute, as the court order, dated June 7, 2022, mandating Oando to submit its scheme of arrangement to the SEC, is currently under challenge in court. Recall that the Johannesburg Stock Exchange had on March 27, 2024, suspended the listing of Oando Plc on its exchange due to the inability to meet the extended deadline for releasing its 2022 accounts.

[hisureshkumar]

11.19% Navi Finserv NCD Feb-2024 - Details, Interest Rates and Review

Navi Finserv is coming up with secured NCD bonds now. These bonds would open for subscription on February 26, 2024. Navi Finserv is a non-deposit taking, systemically important NBFC registered with RBI. The interest rates for Navi Finserv NCD are up to 11.19%. These NCDs are offered for 18 months, 27 months and 36 months tenure. Interest is paid either monthly or yearly. Should you invest in Navi Finserv NCD February, 2024? Is Investment in Navi Finserv NCD Safe or risky?

About Navi Finserv Limited

Company is a non-deposit taking, systemically important NBFC registered with RBI and wholly owned subsidiary of NTL. NTL is a technology driven financial products and services company in India focussing on digitally connected young middle-class population in India. Company offer lending products like personal loans, home loans under the Navi brand. It also offer microfinance loans under the brand name "chaitanya" through its subsidiary, CIFCPL

Navi Finserv NCD Feb-2024 issue details

Here are the details of Navi Finserv NCD Feb-2024 issue. Subscription opening Date 26-Feb-24 Subscription closure Date 07-Mar-24 Issuing Security Name Navi Finserv Limited Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) Issue Size (Base) Rs 300 Crores Issue Size (Option to retain over subscription) Rs 300 Crores Total issue size Rs 600 Crores Issue price Rs 1,000 per bond Face value Rs 1,000 per bond Minimum Lot size 10 bonds and 1 bond there after Tenure 18, 27 and 36 months Interest Payment frequency Monthly and Annually Listing on Within 6 working days on BSE/NSE Lead Manager JM Financial Limited Debenture Trustee/s Catalyst Trusteeship Limited NRI’s cannot apply to this NCD subscription.

Navi Finserv NCD Interest Rates – Feb-2024 Issue

Series I II III IV X Frequency of Interest Payment Monthly Monthly Annual Monthly Annual Tenor (in months) 18 27 27 36 36 Coupon (% per Annum) 10.00% 10.40% 10.90% 10.65% 11.19% Effective Yield (% per Annum) 10.47% 10.91% 10.94% 11.19% 11.19% Amount on Maturity (In Rs.) 1,000 1,000 1,000 1,000 1,000

What are the credit ratings for these NCDs?

CRISIL Ratings assigned Navi Finserv NCD rating as CRISIL A/Stable. Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.

How is the company doing in terms of profits?

Here are the restated consolidated profits of the company. - FY2021 – Rs 118.1 Crores - FY2022 – Rs 14.66 Crores (Loss) - FY2023 – Rs 264.1 Crores

Why to invest in these NCDs?

- Navi Finserv NCD’s offer attractive interest rates where investors can get interest up to 11.19%. - It issues secured NCDs. Its secured NCDs are safe compared to unsecured NCDs. In case company gets wind-up/shut down for some reason, secured NCD investors would get preference in repayment of capital along with interest as those backed up by assets of the company. Hence it is safe to invest in such secured NCD options.

Why not to invest in these NCD Bonds?

Here are the risk factors investors should consider before investing in these bonds. - Company has incurred losses for FY22. Investors should always invest in profit making companies so that they can get timely payment of interest and repayment of capital. - Company lending business of and micro finance business operations rely intensively on substantial capital for its lending and microfinance business operations. Any disruption can affect company financial condition and liquidity - Company is affected by volatility in interest rates in both lending and treasury operations which could cause its net interest income to varry and affect its profitability. - Company has significant growth in recent period and may not be able to grow at similar pace in future or manage it effectively. - Customers default in repayment obligations can adversely affect company. - Covid pandemic has affeced its regular business operations and may continue in fuure too. - Refer Navi Finserv Feb-24 NCD prospectus for complete risk factors.

How safe is Navi Finserv NCD Bonds?

These NCD bonds are rated as A/Stable by Crisil Ratings. Such ratings are considered to have adequate safety regarding timely servicing of financial obligations with low credit risk. Hence these are safe bonds.

Should you invest in Navi Finserv NCD Feb-2024 issue?

- These NCD Bonds offer high interest rates and yield. Such interest rates are higher than FD rates offered by small finance bank too. It comes with A/Stable credit ratings which are considered to have adequate safety and carry low credit risk. These are secured NCDs too. - On the other side investment in these bonds comes with several risk factors. Company credit ratings can change in future without any advance intimation. Company has incurred losses for FY22, however shown significant improvement both in terms of revenue and margins. Investors who understand all these risk factors can invest in such NCDs. Read the full article

[startupfounder]

1 April 2023

Today is the beginning of a new financial year here is India.

Last FY 2022-2023 went great. Compared with FY2021-2022, the company has earned less income in FY2022-2023. Because of this, there were lot of learning gained during this time.

Learned how and where to focus on, which will have maximum impact in growth of company

Learned about the actual implementation of sprints and how it can help any company to measure employee's performance

Learned about the importance of Marketing, SEO, ADS and their strategies.

[meandmybigmouth]

Trump's Anti-Worker Record

At every turn Donald Trump has made increasing the power of corporations over working people his top priority. The list of the damage done to working people by the Trump Administration is long. Here are a few examples.

Trump has encouraged freeloaders, made it more difficult to enforce collective bargaining agreements, silenced workers and restricted the freedom to join unions:

During a live conversation on X with Elon Musk on August 12, Donald Trump said striking workers should be fired.1

Trump packed the courts with anti-labor judges who have made the entire public sector “right to work for less” in an attempt to financially weaken unions by increasing the number of freeloaders.2

Trump stacked the National Labor Relations Board with anti-union appointees who side with employers in contract disputes and support companies who delay and stall union elections, misclassify workers to take away their freedom to join a union, and silence workers.3

Trump made it easier for employers to fire or penalize workers who speak up for better pay and working conditions or exercise the right to strike.4

Trump promised to veto the PRO Act and the Public Service Freedom to Negotiate Act, historic legislation that will reverse decades of legislation meant to crush private sector unions and shift power away from CEOs to workers.5

Trump has restricted overtime pay, opposed wage increases, and gutted health and safety protections:

Trump changed the rules about who qualifies for overtime pay, making more than 8 million workers ineligible and costing them over $1 billion per year in lost wages.6

Trump reduced the number of OSHA inspectors so that there are now fewer than at any time in history, and weakened penalties for companies that fail to report violations.7

Trump threatened to veto legislation that would raise the minimum wage to $15 per hour.8

Trump’s Secretary of Labor, Eugene Scalia, is an anti-worker, union-busting corporate lawyer who aggressively defended Cablevision’s decision to fire 22 workers when they tried to win a contract with CWA.9

Trump has helped insurers reduce coverage and made it easier for pharmaceutical companies to inflate drug prices:

Trump supports an ongoing lawsuit that would eliminate protections that ensure that health insurers can't discriminate against people with pre-existing conditions.10

Trump threatened to veto legislation to reduce prescription drug costs, even though last year the prices of over 3,000 drugs increased by an average of 10.5%.11

Trump’s made protecting the profits of pharmaceutical companies a priority in NAFTA renegotiations.12

Trump's proposed FY2021 budget would cut funding for Medicare.13

Trump has encouraged outsourcing and offshoring:

Instead of supporting CWA’s bipartisan legislation to help save call center jobs, Trump pushed for a corporate tax cut bill that gives companies a 50% tax break on their foreign profits - making it financially rewarding for them to move our jobs overseas.14

On two separate occasions, a group of Senators wrote Trump asking him to issue an executive order preventing federal contracts from going to companies that send call center jobs overseas, and CWA President Chris Shelton even asked him to do so during an in person during a meeting in the Oval Office. He never responded.15

Trump has broken his campaign promise to take on companies that move good jobs overseas—instead, he's given over $115 billion in federal contracts to companies that are offshoring jobs.16

Trump failed to prepare the nation for the COVID-19 pandemic, opposes hazard pay for essential workers, and has given employers a free pass to lower safety standards:

Trump failed to secure enough Personal Protective Equipment for essential workers during the COVID-19 crisis and has weakened protections for workers who are concerned about working in unsafe environments.17

Trump refused to use the Defense Production Act to get our IUE-CWA manufacturing members back to work producing ventilators or PPE and instead used it to force meatpacking plants to open despite thousands of workers getting infected on the job in unsafe working conditions.18

Trump promised to veto the Heroes Act, which would give essential workers premium “hazard” pay and expand paid leave and unemployment insurance for those impacted by the Coronavirus.19

Trump opposed providing aid to help state and local governments continue providing services and keep workers on payroll—he suggested instead that it might make sense to allow states to declare bankruptcy.20

Trump’s OSHA has lowered standards meant to protect workers from getting sick at work and given employers a free pass if they fail to follow even those minimal requirements.21

[chandupalle]

Autonomous Underwater Vehicle (AUV) Industry worth $4.9 billion by 2028

The report "Autonomous Underwater Vehicle (AUV) Market by Shape (Torpedo, Laminar Flow Body, Streamlined Rectangular Style, Multi-hull Vehicle), Type (Shallow, Medium, & Large AUVs), Technology (Imaging, Navigation, Propulsion), Payload - Global Forecast to 2028" The autonomous underwater vehicle (AUV) market was valued at USD 1.6 billion in 2022 and is projected to reach USD 4.9 billion by 2028, growing at a CAGR of 22.4% from 2023 to 2028. Factors accelerating the growth of the autonomous underwater vehicle (AUV) market are the increasing capital expenditure of companies in the offshore oil & gas industry, rising defense spending worldwide, and increasing focus on the use of renewable energy sources.

Large AUVs segment to account for the largest share during the forecast period.

Based on type, the autonomous underwater vehicle (AUV) market has been classified into shallow AUVs (up to 100 m), medium AUVs (up to 1,000 m), and large AUVs (more than 1,000 m). The large AUVs segment is estimated to hold the largest share of ~53% of the overall autonomous underwater vehicle (AUV) market in 2023. The growth of this segment can be attributed to the fact that large AUVs are used in a wide range of applications. The ability of these AUVs to operate at depths of more than 1,000 m and carry heavy payloads makes them suitable for archeological and exploration applications. Large AUVs are widely used for oil & gas exploration activities, as these activities are generally carried out at depths of more than 2,000 m. Also, large AUVs have better endurance capabilities than the other two types of AUVs. Owing to their onboard energy capability, these AUVs can power a wide range of underwater instruments. Large AUVs are widely adopted for mine countermeasure applications in the military & defense sectors.

Military & defense application segment in Asia Pacific to account for the largest share during the forecast period.

The military & defense applications segment held the largest market share in the Asia Pacific. Countries such as China, Japan, Australia, and India, which strongly focus on their Navy and coastal border security. For instance, India has adopted the Adamya AUV with a depth range of 1,500 m, which can be launched from submarine torpedo tubes and surface ships. Adamya AUV can be used for various applications such as hydrographic surveys, underwater mine detection and countermeasures, intelligence surveillance and reconnaissance missions, offshore surveys, harbor security, clandestine monitoring, environmental monitoring, and anti-submarine operations.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=141855626

North America holds the second-largest market share throughout the forecast period.

North America held the second-largest market share and is expected to retain its position during the forecast period from 2023 to 2028 in the autonomous underwater vehicle (AUV) market. The increasing adoption of AUVs for military & defense applications in the US is driving the growth of the Autonomous underwater vehicle (AUV) market in North America. For instance, in the FY2022 budget, the US Navy increased its investment in AUVs; it increased its investment to 42% more than the FY2021 appropriations in new UUVs. In June 2021, the US Marine Corps gave Saab AB the Force-on-Force Training Systems - Next (FoFTS-Next) Single Award Task Order Contract (SATOC).

The report profiles key autonomous underwater vehicle (AUV) players and analyzes their market shares. Players profiled in this report are Kongsberg Group ASA (Norway), Teledyne Technologies Incorporated (US), General Dynamics Corporation (US), Saab AB (Sweden), Exail Technologies SA (France), Lockheed Martin Corporation (US), Fugro N.V. (Netherlands), ATLAS ELEKTRONIK GmbH (Germany), Boston Engineering Corporation (US), L3Harris Technologies, Inc. (US), Graal Tech S.r.l. (Italy), International Submarine Engineering Limited (Canada), and Boeing (US), are some major players.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

[jcnnewswire]

ASTI Says Fresh Attempt to Remove 5 Directors Is Invalid; Urges Shareholders to Attend FY2021 AGM on 31 August Instead

http://dlvr.it/Stcz0c

[dertaglichedan]

Keeping the trains running at the White House takes a lot of staff and money.

And with President Joe Biden as the conductor, it takes more than ever.

A White House payroll and staffing review by the group OpenTheBooks found that the White House staff under Biden is the biggest and most expensive in history.

“During President Joe Biden’s first three years, he spent $158.8 million on the largest White House payroll in American history, based on headcount. White House staff for FY2023 collectively cost $52,775,234,” said the report from OpenTheBooks CEO Adam Andrzejewski.

“No White House ever employed 500 staffers until Biden became president. The Biden White House employed 560 in FY2021 and 474 in FY2022. In 2023, the headcount increased by 50, to 524,” he added.

Those are considerably higher than the staffs of former Presidents Donald Trump and Barack Obama. Trump, at this point of his presidency, had 108 less and Obama 70 fewer.

Not only did Trump operate with fewer aides, but so did former first lady Melania Trump. She averaged between five to 12 aides.

In the Biden East Wing, first lady Jill Biden’s staff count is at least 20 and rivals the sizable and much-criticized group that surrounded former first lady Michelle Obama. She had 24 assistants, said the report.

What’s more, Jill Biden’s office has more than doubled in size in the past year as she readies to step in more and more for her husband on the campaign trail.