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Industry 2020 predictions: part six – regulation

first_imgLegal & compliance Last year saw the rapid expansion of sports betting across the US, but also a number of regulatory and advertising clampdowns in Europe.As the new decade gets underway, industry experts share their thoughts on the opportunities and challenges that lie ahead. In part six, our final installment, we hear from regulatory experts.Interviewees Jason Chess, partner and co-head of the Betting and Gaming group, Wiggin David Clifton, Director, Clifton Davies Consultancy Yahaya Maikori, partner, Law Allianz Mark Balestra, US special counsel, Segev LawWhat were the defining developments or events of 2019? Jason Chess: The major event of 2019 was the Gambling Commission’s statement (in its Enforcement Report 2018/19) that most of the British public have a maximum of £499 monthly disposable (or “discretionary”) income and that this amount should be logged by operators as a “benchmark” for the possibility of “gambling-related harm”. The principle that operators should be held liable for how much of a person’s freely disposable income they choose to spend in any given manner finally consigns to the grave the libertarian Blairite approach to gambling.David Clifton: From a regulatory viewpoint, the good news from 2019 was watching major operators within the UK industry finally and convincingly demonstrate that they are absorbing safer gambling principles into the heart of their business models. There is still a long way to go though, plus a legislative review, and life is not going to get easier for a long while yet. Stateside is where the major excitement has been taking place from a sports betting perspective. Long may that continue and I remain hopeful they will avoid similar regulatory problems to those encountered on this side of the Atlantic in recent times.Yahaya Maikori: Across Africa there have been some disruptive developments – the tax imbroglio in Kenya and the propriety rights claim by Western Lotto against the remaining lottery operators in Nigeria are most noteworthy. In the Nigerian case, Western Lotto Nigeria Limited, a recently licensed operator, sought a court order stopping other operators from running Ghana Games in Nigeria based on its alleged exclusive licence agreement with LMC VAS Ghana, owner of Ghana Games. If Western Lotto has such rights, then it is a great strategic move given that Ghana Games dominates the Nigerian market and has been played since time immemorial. In Kenya the 20% betting tax has upturned the market, leading to the withdrawal of its biggest operators, SportPesa and Betin.Mark Balestra: In the US, the year’s defining event – the Supreme Court ruling striking down PASPA – actually took place in 2018. While it was big news when it happened, its impact was felt throughout 2019, during which the number of states with legalised sports betting climbed. Opinions vary on the potential impact of the DoJ’s opinion letter issued in late 2018 extending the Wire Act’s reach beyond sports betting, but it is notable that the expansion of legalised online casino and/or poker appears to be stalling.How do you see these continuing to shape the igaming space in 2020? JC: The regulator, under assault from the press and – let me be fair – encouraged by far too many historic industry own goals, is in clear peril of reverting to the traditional British approach to gambling, which is that it is a moral vice needing to be controlled, particularly in relation to the poor.DC: Let’s place our trust in the GC to carry the flag for the UK industry to ward off the doom-mongers and naysayers who forecast staking limits, advertising bans and yet more red tape strangling the life and innovation out of the sector. Let’s be optimistic too – surely 2020 might be the year for Germany and the Netherlands to finally launch their igaming space race.YM: The Nigerian case has opened up a new vista in the gaming industry; I doubt that the shallow legal framework can adequately resolve this matter beyond the country’s intellectual property rights laws. It’s a clear argument between rights ownership and anti-competitive strategies, which won’t be resolved easily. With the Kenyan tax matter, I think that the industry will remain in limbo unless the regulator evolves other strategies to address their concerns, which centre on the dominance of foreign ownership and the prevalence of gambling addiction.MB: It is possible that by the end of 2020, more than half of the states will have legalised sports betting. Conflicting Wire Act opinions may continue to hamper the growth of igaming. The federal ruling setting aside the DoJ opinion as it applies to the New Hampshire Lottery has exposed the volatility of the DOJ’s position, but it is a lower court decision that the DoJ interprets as narrowly applicable. The department’s forthcoming actions (or lack thereof) after its self-imposed grace period on enforcing the opinion comes to an end could indicate how things will unfold.What do you see as the biggest challenges ahead for the sector in 2020? JC: 2020 will see further demands for stake limits as well as restrictions on VIP and loyalty programmes. Dangerously, a viscerally moralistic and hostile press is beginning to develop an understanding of the industry, something that will allow the journalists to skate around in silence the massive improvements in customer care that have been made and isolate points that offer scope for further attack.DC: I hate to say it, but the biggest challenge may just be how on earth we avoid more of the same for yet another year.YM: In 2020, as the industry further deepens, poor regulation will continue to throw up disruptive challenges.MB: The Adelson-backed opposition to interactive gambling will continue to influence policy. While a new federal prohibition is doubtful, the Adelson initiative could have a negative effect on expansion to new jurisdictions. In areas of growth – namely sports betting – states have a tendency to overshoot on revenue expectations, and the backlash of the inevitable underperformance could negatively impact expansion to new states.Related articles: Industry 2020 predictions: part one – operators and suppliers Industry 2020 predictions: part two – finance Industry 2020 predictions: part three – marketing Industry 2020 predictions: part four – people Industry 2020 predictions: part five – technology and innovation Industry 2020 predictions: part six – regulation 7th February 2020 | By Joanne Christie Email Address Regions: Africa Asia Europe LATAM US Topics: Legal & compliance Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Mobile Online Gambling As the new decade gets underway, industry experts share their thoughts on the opportunities and challenges that lie ahead. Today we hear from regulatory specialists Subscribe to the iGaming newsletterlast_img read more

Lottery growth offsets igaming decline for Danske Spil in Q1

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Danish gaming operator Danske Spil has reported a marginal year-over-year increase in revenue for the first quarter of 2020, with declines in its igaming and gaming machine arms mitigated by growth in its lottery business.Revenue for the three months to 31 March rose 0.8% to DKK1.23bn (£147.5m/€164.8m/$179.6m), of which DKK640.4m came from its lottery arm, Danske Lotteri Spil.However the novel coronavirus (Covid-19) pandemic impacted its igaming division Danske Licens Spil and its gaming hall arm Elite Gaming, as well as forcing a write-down in asset values that hit the operator’s bottom line.Revenue for Danske Licens Spil was down 0.8% to DKK511.3m, which the operator blamed on the suspension of all major sporting events from mid-March leading to a decline in sports betting. However Swush, its daily fantasy sports brand, reported a slightly increased contribution, of DKK2.1m.Denmark was one of the first countries to implement a nationwide lockdown from 13 March, and this resulted in Elite Gaming’s Q1 revenue falling 18.7% to DKK75.3m.The sporting suspensions and closure of land-based outlets then had a knock-on effect on Danske Spil’s tax contribution and retailer commissions. Taxes paid to the state were down 6.7% to DKK138.1m, while commission payments declined 12.5% to DKK153.1m.Other costs related to the gaming business fell marginally to DKK77.5m, leaving an operating profit of DKK860.4m, up 5.0%.Danske Spil saw personnel costs rise marginally, with other external expenses growing to DKK173.8m as a result of increased investment in its IT infrastructure, though the decline in gaming tax and commissions saw profit before financial items rise 2.8% to DKK542.1m.
A sharp rise in financial costs hit the operator’s bottom line, however. Total finance related costs rose to DKK31.8m, compared to DKK1.0m in the prior year, which was blamed on fair value charges in its securities portfolio. This, Danske Spil noted, was due to the uncertainty created by Covid-19 impacting the stocks and bonds market.Once income tax payments totalling DKK112.2m were factored in, the operator’s net profit for the quarter therefore fell 6.4% to DKK398.1m. Lottery growth offsets igaming decline for Danske Spil in Q1 22nd May 2020 | By contenteditor Finance Topics: Finance Lottery Sports betting Email Address Regions: Europe Nordics Denmark Tags: Mobile Online Gambling OTB and Betting Shops Danish gaming operator Danske Spil has reported a marginal year-over-year increase in revenue for the first quarter of 2020, with declines in its igaming and gaming machine arms mitigated by growth in its lottery business. Subscribe to the iGaming newsletterlast_img read more

Alteo Limited (ALT.mu) Q12016 Interim Report

first_imgAlteo Limited (ALT.mu) listed on the Stock Exchange of Mauritius under the Energy sector has released it’s 2016 interim results for the first quarter.For more information about Alteo Limited (ALT.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Alteo Limited (ALT.mu) company page on AfricanFinancials.Document: Alteo Limited (ALT.mu)  2016 interim results for the first quarter.Company ProfileAlteo Limited is a holding company, which deals in cane farming, sugar milling, sugar refining, energy production, real estate and hospitality in Mauritius and regionally. The company was established in September 2017 and is headquartered in San Pierre, Mauritius. Alteo Limited is listed on the Stock Exchange of Mauritius.last_img

Glaxosmithkline Consumer Nigeria Plc (GLAXOS.ng) Q12019 Interim Report

first_imgGlaxosmithkline Consumer Nigeria Plc (GLAXOS.ng) listed on the Nigerian Stock Exchange under the Pharmaceuticals sector has released it’s 2019 interim results for the first quarter.For more information about Glaxosmithkline Consumer Nigeria Plc (GLAXOS.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Glaxosmithkline Consumer Nigeria Plc (GLAXOS.ng) company page on AfricanFinancials.Document: Glaxosmithkline Consumer Nigeria Plc (GLAXOS.ng)  2019 interim results for the first quarter.Company ProfileGlaxosmithkline Consumer Nigeria Plc manufactures and markets a range of consumer healthcare and pharmaceutical products in Nigeria. Its product portfolio includes treatments for asthma, HIV/AIDS, malaria, depression, migraines, diabetes, heart failure, digestive ailments and cancer. Consumer healthcare products include oral healthcare products; wellness products for the management of pain, gastro-intestinal and respiratory conditions; multivitamins; and a range of nutritional healthcare beverages. Glaxosmithkline Consumer Nigeria Plc produces a range of antibacterial products and vaccines to protect against illnesses such as hepatitis A and B, diphtheria, tetanus, whooping cough, typhoid, influenza and cervical cancer. The company was formerly known as Beecham Limited. Its head office is in Lagos, Nigeria. Glaxosmithkline Consumer Nigeria Plc is listed on the Nigerian Stock Exchangelast_img read more

How soon will the FTSE 100 get back above 6,000?

first_img Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. The FTSE 100 dipped below 5,000 points a handful of times in March. And I really thought we could be in for even worse. It was still the early days of the Covid-19 pandemic, and the full nature of the crisis was yet to unfold.Perhaps I’m a bit cynical, but these days I’m always expecting pessimism from UK investors. That’s not surprising, considering that the devastating banking crash is still so fresh in our memories. And then we had the tediously drawn-out Brexit thing, which I think is still likely to harm our economy for some years to come.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Well, we survived the financial meltdown. And possible Brexit damage looks fairly trifling now compared to the devastating economic damage a prolonged coronavirus lockdown could cause. But the bigger FTSE 100 crash I was fearing has not happened, at least not yet.No, instead we’ve seen a rebound, which has me scratching my head. At the time of writing, the FTSE 100 is precisely at 5,800 points. From March’s low of 4,899 points, that’s a gain of 18%. And what good news has there been to drive such an improvement in sentiment? I don’t really see any.FTSE 100 reboundSo why is the Footsie on the way back up again? I can’t help feeling it’s partly due to years of over-pessimism.I do think investors over-reacted to the banking crash and pushed shares down too low. In the short-term that looks obvious, judging by the fairly quick rebound from the very bottom of the market. But I think there’s been a lingering undervaluation feel about the whole market ever since.So when the Brexit shock came along, I think investors were dealing with shares that were already undervalued. And again I think the pessimism was overdone. So we had already-oversold shares being oversold again. And we were still in the midst of that undervaluation when the virus lockdown hit the FTSE 100.Can’t go much lower?I think there’s a very strong likelihood that investors have stood back, taken stock of what’s been happening, and started to ask “Can these shares really be worth so little?“I do see a reasonable chance of the FTSE 100 getting back above 6,000 points fairly soon. But, against that, I’m also seeing perhaps too much optimism regarding this lockdown thing.Some countries, even the eminently sensible Germany, are starting to soften their restrictions. It’s a tough balancing act, between the risk of further virus outbreaks, and the potentially deep wreck that further economic closure could create. And if the pandemic goes on for longer than the optimists hope (which I think it will), we could be in for further FTSE 100 downturns.Long-term FTSE 100 level?But, it really doesn’t matter, at least not in the short term. In fact, the longer we face a depressed stock market, the better. For long-term buyers, that is.I don’t care where the FTSE 100 will be next week, next month, or even next year. I’m more interested in where it will be in another 10 years. And I’m confident that will be a lot higher than 6,000 points. “This Stock Could Be Like Buying Amazon in 1997” Image source: Getty Images. How soon will the FTSE 100 get back above 6,000? I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.center_img Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Views expressed in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Alan Oscroft | Friday, 24th April, 2020 Enter Your Email Address See all posts by Alan Oscroftlast_img read more

Investing money in the UK recession? Avoid stocks with these three traits like the plague

first_img Rachael FitzGerald-Finch has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Simply click below to discover how you can take advantage of this. Enter Your Email Address Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. See all posts by Rachael FitzGerald-Finch Rachael FitzGerald-Finch | Friday, 14th August, 2020 Investing money in the UK recession? Avoid stocks with these three traits like the plaguecenter_img Our 6 ‘Best Buys Now’ Shares I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. So, recent headlines tell us what we already know: the UK is in recession. It’s terrible news but if you’re currently investing money on the FTSE, I don’t think you should be too concerned. This is because stock markets are generally forward-looking.We’ve known for a while that a recession was highly likely due to the economy-halting success of the lockdown. Indeed, the stock market adjusted for the upcoming bad news back in the spring, resulting in the market crash. Yesterday’s GDP figures only confirmed the UK’s recession retrospectively.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…To highlight this, the FTSE 100 climbed 2% on the same day!However, if you are investing money, be aware that cyclical, highly leveraged and speculative stocks don’t usually perform well in a recession.Cyclical stocksCyclical stocks are so-called because they follow economic cycles. If the economy is doing well, people pay money for cyclical goods, such as expensive coffees, foreign holidays, and new cars. In a recession, people cut back on these same goods because they’re not essentials. This lowers revenues, profit margins, and by extension the share prices, of the companies concerned.Conversely, adding less volatile counter-cyclical, or defensive, stocks to a portfolio should help provide more stable earnings and dividends throughout the downturn. These stocks include utilities, discounters, and consumer staples such as food or tobacco.However, seasoned investors may look for bargains among cyclical stocks in companies with healthy cash flows and solid business models, to see them through bad times. For beginners investing money, though, I’d advocate avoiding cyclical stocks altogether.High leverageCompanies with high amounts of debt will likely have large interest charges to pay. This stops its money from being used for other things, such as short-term liquidity for survival.When combined with the lowering revenues prevalent in a recession, higher debt makes a firm more vulnerable to any credit tightening. The risk of bankruptcy increases.Investing money in speculative stocksEven great companies present investors with high-risk opportunities when they’re overpriced. The prices of these firms reflect investors’ future optimism for them. However, at least established firms with good records have something tangible to base this optimism on.Investing money in speculative stocks is a different ball game. These stocks promise to be the ‘next big thing’ and are often the result of market bubbles. The price is based on pure optimism as to whether an idea can work.These volatile ‘under-the-radar’ opportunities often quickly fall in price during a recession as investors find safer assets elsewhere.  Stocks with one or more of the above characteristics increase your risk of losing money in a recession.Knowing which shares make good investments is not enough to stop any losses in hard times. It’s also essential to understand which stocks to avoid if you want to maximise shareholder returns. Losing money from bad investments can more than offset the gains from good ones.     I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. “This Stock Could Be Like Buying Amazon in 1997” Image source: Getty Images. last_img read more

Take Action on Herbicide Resistant Weeds

first_img SHARE Home Indiana Agriculture News Take Action on Herbicide Resistant Weeds USB on HAT-WillersAs he waited for his rain-soaked fields to dry in southwestern Minnesota, all Jim Willers could do was continue to plan out what his steps this planting season would be. Some things will stay the same as previous years, such as the 50-50 rotation of corn and soybeans he plants. But other things will change, including how he handles herbicide-resistant weeds.“We’ve been trying new things the last couple of years, different timings, chemical applications, things like that. We’re working on it,” Willers, a soy checkoff farmer-leader, explained.When it comes to battling herbicide-resistant weeds, Willers is not alone. Herbicide-resistant weeds, which were once only a regional problem, have become a national threat. These weeds cost soybean farmers time and money.That’s why the soy checkoff has played a leading role in establishing Take Action, an industrywide partnership to help farmers manage herbicide resistance. The Take Action effort encourages farmers to proactively develop a weed-management strategy.For more information on how to manage weeds on your farm, visit www.TakeActionOnWeeds.com. Take Action on Herbicide Resistant Weeds Previous articleBayer Secured Funding for Monsanto BidNext articleCrops Not Doing Well in SE Indiana Andy Eubank Facebook Twitter SHARE Facebook Twitter By Andy Eubank – Jun 5, 2016 last_img read more

City Announces Christmas 2016, New Year’s 2017 Closures and Reminders for Pasadena

first_img First Heatwave Expected Next Week Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Community News More Cool Stuff Community News Community News City Announces Christmas 2016, New Year’s 2017 Closures and Reminders for Pasadena Published on Monday, December 19, 2016 | 1:11 pm Make a comment Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Your email address will not be published. Required fields are marked * Subscribe Business Newscenter_img Name (required)  Mail (required) (not be published)  Website  HerbeautyDo You Feel Like Hollywood Celebrities All Look A Bit Similar?HerbeautyHerbeautyHerbeautyYou Can’t Go Past Our Healthy Quick RecipesHerbeautyHerbeautyHerbeautyA Dark Side Of Beauty Salons Not Many People Know AboutHerbeautyHerbeautyHerbeauty9 Of The Best Family Friendly Dog BreedsHerbeautyHerbeautyHerbeautyStop Eating Read Meat (Before It’s Too Late)HerbeautyHerbeautyHerbeautyThese Are 15 Great Style Tips From Asian WomenHerbeautyHerbeauty Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Top of the News Due to Christmas Day and New Year’s Day both falling on a Sunday during the current Holiday Season, Pasadena City Hall and most City services will be closed on Monday, Dec. 26, 2016 in observance of Christmas Day and Monday, Jan. 2, 2017 in observance of New Year’s Day. Specific reminders, closures and exceptions are noted below.Remember, both the Rose Parade and Rose Bowl Game will be held on Monday, Jan. 2, 2017. Go to www.tournamentofroses.com for details.Pasadena’s Fire and Police departments will be staffed during the holidays for all patrol, jail, fire, paramedic and other emergency services. For life-threatening emergencies, always call 9-1-1. For other incidents, “If You See Something, Say Something!” by calling police at (626) 744-4241. Be prepared to speak calmly, know your location and listen carefully to all questions asked. Celebrate responsibly and always designate a driver.The City Council has finished its 2016 public meeting schedule. Its first regularly scheduled meeting in 2017 begins at 6:30 p.m., Monday, Jan. 9, in the Council Chamber at City Hall, 100 N. Garfield Ave.Pasadena residents and businesses with any power emergencies should call the Pasadena Water and Power (PWP) Department at (626) 744-4673. For water-related emergencies call (626) 744-4138. PWP’s regular Customer Service Call Center will be closed for the Christmas and New Year’s holidays, but customers can still pay their bills by phone at (626) 744-4005 or on the Web at www.PWPweb.com.Pasadena’s Citizen Service Center, (626) 744-7311, www.cityofpasadena.net/citizen-service-center is closed Dec. 25-26, but will offer special extending operating hours during the holidays to take your calls, including from 7:30 a.m. to 5 p.m., Dec. 27-30; 8 a.m. to 2 p.m., Dec. 31; 5 p.m. to midnight, Jan. 1, 2017 and midnight to 2 p.m., Jan. 2, 2017.In addition, a toll-free “Visitor Hotline” at (877) 793-9911 operated by the Pasadena Convention and Visitors Bureau, www.visitpasadena.com, will be open from 10 a.m. to 5 p.m., Thursday, Dec. 29 and Friday, Dec. 30; and from 10 a.m. to 2 p.m., Saturday, Dec. 31, and Sunday, Jan. 1, 2017.All motorists must obey all temporary “No Parking” signs posted for the Rose Parade and Rose Bowl. Vehicles will be towed at owners’ expense, no exceptions. Public access maps are at the city’s website, www.cityofpasadena.net.Refuse will not be collected Monday, Dec. 26 and all refuse pick up will be delayed one day with pick up also on Saturday, Dec. 31. The following week, refuse will not be collected Monday Jan. 2 and all refuse pick up will be delayed one day with pick up also on Saturday Jan. 7.Curbside Christmas tree recycling is Jan. 3-13, 2017. Christmas tree recycling drop off is from Dec. 27 to Jan. 5, 7 a.m. to 2 p.m., at Eaton Blanche Park, 3100 E. Del Mar Blvd. and Robinson Park, 1081 N. Fair Oaks Ave.On Dec. 25, 2016 and Jan. 1, 2017, Pasadena Transit and Dial-A-Ride services will not operate, but will resume regular service the following days. On Jan. 2, 2017, Pasadena Transit Routes 10, 20, 31/32 and 40 will detour around the parade route until 1:30 p.m. while Route 51/52 will be on detour around the parade route and during the Rose Bowl Game. Notifications will be posted at all bus stops on the affected routes and on all buses. Please check www.pasadenatransit.net or call (626) 744-4055 for more information regarding detours.Unless otherwise posted as “No Parking” or restricted due to special events, all parking meters are free and time limits will not be enforced on Christmas Day. All parking meter enforcement resumes on Dec. 26. Likewise, all parking meters are free and time limits will not be enforced on Jan. 1 and Jan. 2, 2017. Parking meter enforcement resumes on Jan. 3. Violations for “No Parking,” red curb violations, blocking fire hydrants or bus stops will be enforced on both holidays and cars are subject to being ticketed and towed.Pasadena’s Holiday Overnight Parking Citation Moratorium occurs from 2 a.m. to 6 a.m., Dec. 23, 2016 through Jan. 3, 2017. Vehicles legally parked on the street—and not in violation of temporary No Parking restrictions on certain streets—will not be cited for overnight parking. Overnight parking citations will resume beginning 2 a.m., Jan. 4, 2017.Beginning Dec. 27, motorists are advised that 15 traffic signals along the 5½-mile Rose Parade route will be altered—on Orange Grove, Colorado Boulevard and Sierra Madre boulevards—so that tall floats needing additional clearance can safely navigate through the intersections. Motorists, bicyclists and pedestrians are urged to use extra caution at the altered intersections.All Pasadena Public Libraries will be closed Dec. 25-26 and Jan. 1-2, 2017.The Victory Park Recreation Center and the Villa-Parke Community Center will be closed to the public from Friday, Dec. 23 until Tuesday, Jan. 3. Robinson Park Recreation Center will close at 6 p.m. daily beginning Monday, Dec. 19 and will resume regular hours on Tuesday, Jan. 3. Jackie Robinson Community Center will close at 6 p.m. daily between Monday, Dec. 19 and Friday, Dec. 23 and will close at 5 p.m. daily with limited consumer action services between Tuesday, Dec. 27 and Friday, Dec. 30. All Centers resume regular schedules on Wednesday, Jan. 4. Addresses and phone numbers for each center is online at www.cityofpasadena.net/HumanServices.All parks are open for picnics, fun and recreation, but no site reservations are accepted for the holidays.Please safely enjoy the Christmas and New Year’s Holidays, and celebrate responsibly by always designating a driver. Visit us online at www.cityofpasadena.net; follow us on Twitter @PasadenaGov, www.twitter.com/pasadenagov, and Instagram @PasadenaGov, www.instagram.com/pasadenagov; like us on Facebook, www.facebook.com/cityofpasadena; and subscribe to our YouTube channel at www.youtube.com/pasadenagov. faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS 3 recommended0 commentsShareShareTweetSharePin it last_img read more

Another Cannabis Company Cleared In City Investigation

first_img faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Last week, city officials cleared another cannabis company in a probe that could result in one company losing its chance to sell cannabis in Pasadena.Last Monday, Pasadena Now first reported that city officials found that an investigation revealed personnel changes in MME Retail, also known as MedMen, led to a change of control in the company that could result in the denial of a Cannabis Retail Permit and disqualification from the city’s process.City officials informed the owner of Integral Dena LLC on July 8 that the company had been cleared in the probe.“The purpose of this letter is to advise you that the city of Pasadena has cleared its review and the city manager finds that there has not been a change of control,” the July 8 letter signed by Assistant City Manager Nicholas Rodriguez states.Integral plans to open its shop Essence in Pasadena, near the intersection of East Colorado Boulevard and Mentor Avenue, next door to the Hotel Constance.Integral was sold last year to Green Thumb Industries. Almost a year later, Integral Chief Executive Armen Yemenidjian announced plans to step down.A competing cannabis executive claimed that Integral should be removed claiming that like MME Retail, there has been material change in the company’s leadership.In April, Integral Attorney Richard McDonald told Pasadena Now that Yemenidjian was still the top executive at Integral.Clearing Integral effectively closes the probe as decisions have been made on all of the companies remaining in the city’s process.Harvest Pasadena and Varda have also received word they were cleared. Harvest and Integral have received Conditional Use Permits.Varda and MME Pasadena have not yet gone before the Planning Commission.Two other companies that scored in the top six of the city’s process SweetFlower and Atrium did not advance.The city requested all six applicants chosen to open retail stores submit materials for city review after it discovered at least seven officials at MME Retail, also known as MedMen, had left the company, which led to a change of control.In the process, applicants were scored on the experience, cannabis industry knowledge, and ownership team criteria.According to Marijuana Business Daily, in February the company reported $96.4 million in losses in the second fiscal quarter of 2020.“It was made clear during the process that the evaluation and final interview was to be of the actual team to be working in Pasadena,” a letter to MME Retail states.The probe began after Sweet Flower CEO Tim Dodd wrote a letter to the including allegations against MME Retail and Integral in April.After receiving the letter, city officials canceled CUP hearings before the Planning Commission for MME Retail and Varda. The meetings have not been rescheduled.So far, city officials would not reveal if another dispensary would be allowed into the process if MME Retail is removed from the process.If MME is removed from the process, the company will have lost $14,000 in non-refundable application fees. According to a rental agreement, the company was also required to pay $250,000 to the master tenant at 536 S. Fair Oaks Ave. where the company planned to do business and $50,000 a month as of March 31 when the lease went into effect.If all fees were paid, MME would lose more than $400,000 before ever selling any weed in Pasadena at a time when the company is already facing massive revenue issues. 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Palaeoproterozoic to Palaeozoic magmatic and metamorphic events in theShackleton Range, East Antarctica: Constraints from zircon and monazite dating, and implications for the amalgamation of Gondwana

first_imgA comprehensive set of new geochronological data from different parts of the Shackleton Range in East Antarctica, comprising U–Pb single zircon and Th–U–Pb single and multi-grain monazite data, combined with published results, reveal a complex tectono-thermal history of the Shackleton Range. Three distinct, spatially separated terranes or units with different magmatic and metamorphic history are now recognised: (i) the Southern Terrane (Unit I) contains detrital components as old as 2850 Ma, experienced magmatism between 1850Ma and 1810Ma and underwent amedium- to high-grade metamorphic event at 1710–1680Ma and, locally, again at 510 Ma; (ii) the Eastern Terrane (Unit II) occurs in the easternmost part of the Shackleton Range and contains c. 1060Ma old Grenvillian granitoids, which experienced metamorphism at c. 600 Ma; and (iii) the Northern Terrane (Unit III) is characterised by 530Ma old granites and diorites, which are hosted within paragneisses as well as mafic and ultramafic rocks. All rocks of Unit III experienced upper amphibolite- to granulite-facies and, locally, eclogite-facies metamorphism at 510–500 Ma.The geologic features of Palaeoproterozoic tectonism in the Southern Terrane are very similar to those of the Australo-AntarcticMawson Continent. Thismay indicate that theMawson Continent extends across the East Antarctic Shield into the Shackleton Range. The 1060Ma and 600Ma events in the Eastern Terrane have not been documented for any part of the Shackleton Range before and are correlated with Grenvillian and Pan-African tectonism in Dronning Maud Land. By implication, this suggests that the Pan- African Mozambique/Maud Belt continues into the Shackleton Range. The associated suture is located in the easternmost Shackleton Range and is related to the amalgamation of the Indo-Antarctic plate with West Gondwana. This was followed by further collision of the combined Indo-Antarctic/West Gondwanan block with East Gondwana at approximately 510Ma in theNorthern Terrane. A suture related to this latter collision can be traced in the Northern Shackleton Range and may continue northwards to the Sør Rondane Mountains and the Lützow Holm Bay area. Our data support the model that East Antarctica finally assembled during the Pan-African orogeny, rather than during earlier Mesoproterozoic events.last_img read more