Piazza Carlo Giuliani http://piazzacarlogiuliani.org/ Fri, 03 Dec 2021 21:39:43 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://piazzacarlogiuliani.org/wp-content/uploads/2021/03/cropped-icon-1-32x32.png Piazza Carlo Giuliani http://piazzacarlogiuliani.org/ 32 32 Kangaroo Court: Building a competitive AI strategy | Association of Certified Electronic Discovery Specialists (ACEDS) https://piazzacarlogiuliani.org/kangaroo-court-building-a-competitive-ai-strategy-association-of-certified-electronic-discovery-specialists-aceds/ Fri, 03 Dec 2021 21:39:43 +0000 https://piazzacarlogiuliani.org/kangaroo-court-building-a-competitive-ai-strategy-association-of-certified-electronic-discovery-specialists-aceds/

The essence of formulating a competitive strategy is to relate a business to its environment. Today, few conversations about industry environment and market forces can go very far without discussing data, its challenges, and the opportunities it presents. Almost every legal department and law firm has invested time and resources in developing strategies to harness the value of data through cross-functional teams and advanced exploration tools. For a business to achieve its goals, it must develop the appropriate policies for the implementation of artificial intelligence (AI) and automation across the enterprise.

While it sounds simple, it is not such a simple task given the forces at play. After all, competition in an industry is rooted in its underlying economic structure and goes far beyond the behavior of current competitors. . The state of competition in an industry depends on five fundamental competitive forces: the threat of new entrants; bargaining power of suppliers; the bargaining power of buyers; rivalry between existing businesses; and the threat of substitute products or services. In the AI ​​world, there is a clear advantage to those who are starting the process of introducing AI solutions to better understand their data. The more AI initiatives are left on the ‘road map’ or unfinished, the more threatened a business is from the forces listed above.

The acceleration of our innovation in recent times is a reaction to forces that have been underway for centuries, leading boards to a point where new strategies are needed to meet the challenge. The fourth industrial revolution (IR) is well underway, heralding a series of social, political, cultural and economic upheavals that will take place during the 21st century. The first IR (1760-1840) gave birth to the mechanization of industry through the use of steam and hydraulic energy. The impact was primarily felt by the farming community, transforming an agrarian society into an industrial society based on consumption. Many people could no longer cultivate as their land was occupied by factories, necessitating massive retraining into trades such as boilermakers, ironworkers, mechanics, and other roles that supported machines that needed to be made or repaired.

The second IR (1870-1914) saw the expansion of electricity, oil and steel. It was a phase of rapid standardization and industrialization, leading to the introduction of public transport and airplanes. Introducing these two things would transform the world forever. Steel would replace iron in the construction industry as a sturdy, cheaper alternative to building railroads, ships, skyscrapers, and larger bridges. Michael Faraday began to play with the idea of ​​electricity. Then, a few years later, Thomas Edison and Sir Joseph Swan perfected their design of a practical light bulb for home use.

The third IR (1970-2000) can be summed up by globalization and the birth of the Internet. Hailing from the United States, Japan and Europe, the third IR gave birth to new ways of communicating across and within national borders. This would radically change the nature of supply chains, social interactions, the financial services industry, connectivity, defense technologies and finally give birth to e-commerce. The third IR made the world a smaller place and would lay the foundation for the fourth IR through the standardized use and access to information technology and the explosive growth of data that resulted from it.

We are now in a period of opportunity, but it is clear that fortune favors the daring. The argument that it’s worth the wait and see how early adopters test the application of AI solutions across different functions is valid, but not everyone is a big ship that needs leeway. important to adjust heading. Waiting too long presents its share of problems, it is only in the age of AI that these concerns can be magnified given the accelerated returns once a company has done the hard work and created libraries of AI models. Early adopters with consistent competitive strategies will differentiate themselves by instantly delivering valuable information that previously required teams of specialized knowledge workers. Would you hire a company that has built its human capital around sophisticated technology, or a company that leverages AI tools in addition to the human knowledge worker? One option allows a company’s talent, the other gives AI a supporting role.

To guard against this outcome, a company can begin the process of defining its AI strategy in a consistent and meaningful way. For example, to deal with the five competitive forces, there are three generic strategic approaches that are potentially effective in outperforming other companies in a sector:

  • Global cost leadership
  • Differentiation
  • To concentrate

Overall cost control is achieved through a set of functional policies aimed at this fundamental objective. This requires the aggressive construction of large-scale facilities; vigorous search for cost reductions based on experience; strict control of costs and overheads; avoidance of accounts receivable on margin; minimization of costs in areas such as R&D, service, sales force, advertising, etc. A low-cost position defends the business against strong buyers, as buyers can only exercise their power to lower prices to the next most efficient competitor. Achieving a low overall cost position often requires a high relative market share or other benefits, such as favorable access to raw materials. This may well require designing products to facilitate manufacturing, maintaining a wide range of related products to spread cost and service to all major customer groups to create volume.

Differentiation is achieved by creating something industry-wide that is considered unique. Differentiation approaches can take many forms, including design or branding, technology, special features, customer service, dealer network, or other dimensions. Differentiation, if achieved, is a viable strategy for achieving above-average returns in an industry, as it creates a defensible position with the five competitive forces, albeit in a different way than leadership in costs. Differentiation provides isolation from competitive rivalry due to customers’ brand loyalty and resulting lower price sensitivity. Differentiation can sometimes prevent gaining high market share. It often requires a perception of exclusivity, incompatible with a high market share.

The focus is to focus on a group of buyers, a segment of the product line or a particular geographic market. The whole focus strategy is built around serving a particular target very well, and each functional policy is built with this in mind. The strategy is based on the premise that the company can serve its narrow strategic target more effectively or efficiently than competitors who compete more widely. As a result, the company manages either to differentiate itself by better meeting the needs of the target, or to reduce its costs to serve this target, or both. Even if the concentration strategy does not achieve low cost or market differentiation, it does achieve one or both positions vis-à-vis its narrow target market.

Whichever route the management team decides to take, the growing influence of the Fourth IR has made the development of these strategies a time sensitive issue. Basically, we are talking about harnessing useful information in order to make good decisions. Mankind has operated on these terms ever since we understood the need to build a fire for food, warmth, and protection. The difference with the fourth IR over its predecessors is the speed of innovation itself. The very nature of our organization as a society is changing under our feet as we venture into a new world of surveillance, virtual reality, and questions regarding the state’s responsibility to provide a universal basic income to sections of the world. most at-risk workforce. for automation. Competing in this world requires dedication and resources deployed across the company. Without a commitment to invest in their future, businesses risk being left in the past.

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South Boise ID Gold / Jewelery Secured Loans 2022 Pawn Shops New Tagline Released https://piazzacarlogiuliani.org/south-boise-id-gold-jewelery-secured-loans-2022-pawn-shops-new-tagline-released/ Fri, 03 Dec 2021 11:30:47 +0000 https://piazzacarlogiuliani.org/south-boise-id-gold-jewelery-secured-loans-2022-pawn-shops-new-tagline-released/

Idaho Pawn and Gold (208-487-8003), offering quick item-backed loans to customers in South Boise and surrounding areas including Nampa, Middleton, Parma, Eagle and Boise Beach, announced a new tagline, “The Lending Store – A new way to pawn.

The new tagline represents the company’s focus on building relationships within the surrounding community by providing safety net loans to families facing sudden financial emergencies. Their goal is to make the pawn shop process as easy as possible.

More information can be found at: https://pawnidaho.com/

This latest announcement is based on the company’s belief that close relationships with customers set them apart from other pawn shops, real estate buyers, and gold and silver bullion dealers. The company claims to be one of the most flexible object-backed lenders in the region, offering a minimum repayment period of 40 days and a maximum repayment period of 10 years.

A representative from Idaho Pawn & Gold explained that their loans generally end up costing less than bank overdraft fees, utility reconnection fees, or credit card late fees. They explained that item backed loans are important for people who need quick loans but want to avoid a negative impact on their credit score.

The company also noted that many people have small, valuable items in their homes, and when people have to pay unexpected bills, using those items for cash can be a smart and practical decision.

Idaho Pawn & Gold has experts and resources on hand to perform all inspections and assessments in the store, in front of the customer. For this reason, they are able to offer the highest value for a variety of items including gold, jewelry, coins, luxury watches, musical instruments and much more. . It is one of the only pawn shops in the region to handle luxury watch transactions, accepting Audemars Piguet, Patek Philippe, Rolex, Hublot, Vacheron-Constantin, Richard Mille, IWC, etc.

Idaho Pawn & Gold intends to create a ‘new way to pawn’ for residents of the Boise, Meridian and Nampa areas due to their impeccable attention to detail, exceptional customer service and lending practices. transparent, article-based.

One client shared, “Really the best place to get a quick loan. The staff are very knowledgeable and I was impressed with their warm and confidential customer service.

To learn more about Idaho Pawn and Gold services, visit https://pawnidaho.com/

Contact information:
Name: Sam Lecture
E-mail: Send an email
Organization: Idaho Pawn & Gold
Address: 10250 West Fairview Avenue, Boise, Idaho 83704, USA
Phone: + 1-208-615-8714
Website: https://pawnidaho.com

Version number: 89055324

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The board of directors of Evolution AB (publ) has voted on the acquisition of own shares | New https://piazzacarlogiuliani.org/the-board-of-directors-of-evolution-ab-publ-has-voted-on-the-acquisition-of-own-shares-new/ Fri, 03 Dec 2021 08:15:00 +0000 https://piazzacarlogiuliani.org/the-board-of-directors-of-evolution-ab-publ-has-voted-on-the-acquisition-of-own-shares-new/

STOCKHOLM, Dec 3 2021 / PRNewswire / – TThe board of directors of Evolution AB (publ) has, on the basis of the authorization of the 2021 annual general meeting, decided that the company will acquire its own shares on Nasdaq Stockholm. The objective of the acquisitions of own shares will be to optimize and improve the capital structure of the company by reducing the capital, thus creating added value for the shareholder.

The buyback program will be implemented in accordance with EU Market Abuse Regulation No. 596/2014 (“MAR”) and Commission Delegated Regulation No. 2016/1052 (“Safe Harbor Regulation”).

Terms and conditions for the acquisition of own shares

In accordance with the resolution of the board of directors, any acquisition of treasury shares must be made on Nasdaq Stockholm in accordance with the Nasdaq Stockholm rulebook for issuers and the following terms and conditions.

  • Acquisitions may be made on one or more occasions before the 2022 annual general meeting.
  • The maximum amount for which shares may be acquired may not exceed 200 million euros.
  • Acquisitions will be made at a price within the recorded price range of the share at any given time.
  • The shares acquired will be paid in cash.

Total number of company shares and own shares held by the company

In accordance with the authorization of the 2021 annual general meeting, the holding of treasury shares by the company may not at any time exceed 10 percent of all the shares of the company. To date, the total number of shares of the company is 215,111,115 shares. The company does not hold any own shares, which means that a maximum amount of 21,511,111 shares can be repurchased under the authorization.

Declaration of acquisitions of own shares

Completed acquisitions of treasury shares will be declared in accordance with applicable laws and regulations as well as Nasdaq Stockholm regulations for issuers.

For more information, please contact:

Jacob Kaplan, CFO, ir@evolution.com

Infrared phone: +46 70 508 85 75

This information is such that Evolution AB (publ) is obliged to make it public in accordance with the EU Market Abuse Regulation. The information has been submitted for publication, through the contact person indicated above on December 3, 2021, To 8:50 am CET.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/evolution/r/the-board-of-directors-of-evolution-ab–publ–has-resolved-on-acquisitions-of-own-shares,c3465513

The following files are available for download:

View original content: https://www.prnewswire.com/news-releases/the-board-of-directors-of-evolution-ab-publ-has-resolved-on-acquisitions-of-own-shares-301436955 . html

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Funniest Psych Moments, Ranked https://piazzacarlogiuliani.org/funniest-psych-moments-ranked/ Thu, 02 Dec 2021 19:24:00 +0000 https://piazzacarlogiuliani.org/funniest-psych-moments-ranked/

“Psych” doesn’t get any better than that. When a reality TV judge (Tim Curry) thinks someone is trying to kill him, Shawn, Gus, and the Santa Barbara Police Department try to find the culprit. From there, Curry steals the show as Nigel St. Nigel, an extreme version of Simon Cowell.

St. Nigel rubs everyone the wrong way – “an equal opportunity bastard” in Gus’ words – and the public wins every time. The police, his fellow judges, the host of the show – no one is safe from his beards. Even Henry is caught up in the madness when Shawn and Gus use Elder Spencer’s house as a refuge for St. Nigel. Curry’s perfect lines are too numerous to mention, although he memorably describes riding in Gus’ Toyota Echo as being “incarcerated in a blueberry” and dislikes the steak Henry serves him because ” he still has the marks where the jockey was hitting him. ” Now imagine these lines being spoken with the English accent of Curry. You can thank us later.

But wait, there is more. Other guest stars Gina Gershon and Cristián de la Fuente are a revelation as fellow judges of St. Nigel. Notably, Gershon plays the barely lucid Emilina Saffron (think: a fictional version of Paula Abdul), who uses her feminine tricks and bodily functions to drive Lassiter mad. And although de la Fuente barely speaks throughout the episode because St. Nigel continues to cut him off, his facial expressions are just as memorable.

This all adds up to an episode worthy of the TV Comedy Hall of Fame, if such a thing existed. What’s needed !

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Discovery is pushing for remaining 500 unvaxxed staff to ‘cross the finish line’ https://piazzacarlogiuliani.org/discovery-is-pushing-for-remaining-500-unvaxxed-staff-to-cross-the-finish-line/ Wed, 01 Dec 2021 16:20:00 +0000 https://piazzacarlogiuliani.org/discovery-is-pushing-for-remaining-500-unvaxxed-staff-to-cross-the-finish-line/

Afternoon Drive host John Maytham chats with Dr Ron Whelan, leader of Discovery’s Covid-19 task force.

  • Only 1 Month Left Before Discovery Enters Mandatory Vaccination Policy
  • Discovery was one of the first large South African companies to announce a mandatory jab order in September
  • Since then, the staff vaccination rate has increased from 22% to 94%
  • Time is running out for more than 500 employees who have yet to receive the jab

Discovery Group offices in Sandton. Image: Abigail Javier / EWN

Discovery says he still has hopes that other unvaccinated workers at the company could get bitten by Jan. 1, 2022.

In September, Discovery announced that it would be implementing a mandatory Covid-19 vaccination policy for employees in South Africa in the New Year.

At the time, only 22% of its workforce had been vaccinated. Three months later, the staff vaccination rate jumped to 94%.

Dr Ron Whelan, leader of Discovery’s Covid-19 task force, said about 500 out of 10,500 employees remain unvaccinated.

Some have promised to get stung, but many refuse to do so.

RELATED: 94% of Discovery Staff So Far Vaccinated Thanks to Mandatory Policy – Adrian Gore

Dr Whelan, who is also commercial director of Discovery Health, said the company has not abandoned the remaining group of unvaccinated workers.

“We’re going to do everything we can to get everyone to cross the finish line,” he told CapeTalk.

RELATED: “A Moral Obligation”: Discovery Employees Must Be Vaccinated From January 1

Dr Whelan says the vaccination was in part influenced by the age groups who became eligible for vaccination in September and October.

He says the company has dealt with an enthusiastic group of employees eager to vaccinate, a more indifferent group who have been “vaccine apathetic” and an anxious group described as “vaccine hesitant.”

We vaccinated 2,200 people in September. To date, we are 9,900 people vaccinated. So we have done 7,200 vaccinations in the last three months. This was the rise in power.

Dr Ron Whelan, COVID-19 Task Force Leader – Discovery South Africa

We still have about 500 people outstanding.

Dr Ron Whelan, COVID-19 Task Force Leader – Discovery South Africa

Different age groups opened up during the months of September and October … It was part of the rise … A lot of people went there voluntarily. In fact, most of our staff were quite anxious to get the shot and get the shot quickly.

Dr Ron Whelan, COVID-19 Task Force Leader – Discovery South Africa

We allowed access to vaccinations, we had mobile sites, we had our Discovery vaccination sites accessible to our staff.

Dr Ron Whelan, COVID-19 Task Force Leader – Discovery South Africa

We had a lot of one-on-one discussions with the staff, just to understand their concerns, to share specific information … and absolutely [brought in their families]… we have recognized that the family is an integral part of this particular point.

Dr Ron Whelan, COVID-19 Task Force Leader – Discovery South Africa


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Central bank chief sees negative fallout from IMF deal – the Island https://piazzacarlogiuliani.org/central-bank-chief-sees-negative-fallout-from-imf-deal-the-island/ Sun, 28 Nov 2021 00:00:20 +0000 https://piazzacarlogiuliani.org/central-bank-chief-sees-negative-fallout-from-imf-deal-the-island/

NEXT ECONOMY – Central Bank Governor Nivard Cabraal said seeking help from the International Monetary Fund (IMF) to resolve a debt and currency crisis would lead to currency depreciation and significantly higher interest rates, reducing the public sector and privatizing state enterprises.

However, several policy corrections, which are usually found in IMF agreements, are already being made, he said.

Sri Lanka was demoted to CCC by rating agencies indicating a higher risk of default as the country printed money to keep rates in a “monetary stimulus” in addition to “fiscal stimulus” and lost foreign exchange reserves because the printed money was exchanged for dollar reserves to maintain the exchange rate.

Ministers of President Gotabaya Rajapaksa’s ruling SLPP coalition discussed the possibility of the government seeking IMF assistance in resolving the external crisis as it became more difficult to import oil and other goods.

The party came to power blaming the last administration for going to the IMF, which led to tax hikes.

“If we want, there is no problem for the IMF. We had been there in 2009. So no one should think we are hesitant or afraid to go, ”Cabraal said at a press conference Thursday.

“The IMF could tell us to depreciate the rupee, raise interest rates by 30%, 40%, 50% more, reduce the number of public sector employees, reduce or reduce pension benefits and sell various state assets.

“These are conditions that they include in their reform program.

“Our point of view is that we don’t need this reform program at this point. Our point of view is that without going, we can repay our creditors. While we see some pressure during this time, we know it will ease in time to come. “

The latest IMF program failed to impose sufficient controls on the central bank, which gave it enough leeway to print money under flexible and discretionary inflation targeting and triggered a second monetary crisis in 2018 within the program, causing a production shock.

It also failed to impose spending controls on the treasury “as part of a so-called income-based fiscal consolidation” without “expenditure-based consolidation”, resulting in a sharp increase in government spending. and an increase in public sector pension rights.

The decline in the currency that usually results from an IMF program leads to lower real wages, lower consumption, higher unemployment and an economic slowdown – the inevitable consequence of monetary and budget excesses – which leads to voters unhappy if elections are held before growth resumes. .

Cabraal, however, said Sri Lanka itself has already done what the IMF might prescribe in a set of policies.

“The problem is we have to deal with the debt problem,” Cabraal said. “The main reason for the debt problem is that US $ 6.9 billion was borrowed in the form of loans via sovereign bonds from this country from April 2018 to June 2019. These loans put a lot of pressure on the country. the country’s debt.

“So we decided to eliminate this type of borrowing and reduce it while using other methods of borrowing. This is what we are doing now. It will be the same advice the IMF will give us. No further advice they will give.

“Debt restructuring is essentially about switching from one instrument to another. It was done with deep thought and in a scientific way. As we already do, we don’t need outside help to do it.

He also said the government has already taken decisions to change the maximum retail prices of commodities.

“In some cases we have removed them, which could be indicated by the IMF.”

The budget for 2022 had already frozen recruiting, increased corporate taxes, including turnover taxes, and there had been no salary increases for civil servants except for teachers on strike.

However, any IMF program will likely require currency float as a prior action to restore currency markets.

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Gold price plunges by Rs 2,400 per tola in Pakistan https://piazzacarlogiuliani.org/gold-price-plunges-by-rs-2400-per-tola-in-pakistan/ Sat, 27 Nov 2021 14:28:00 +0000 https://piazzacarlogiuliani.org/gold-price-plunges-by-rs-2400-per-tola-in-pakistan/
– Reuters / File
  • The prices of bullion on the local market are falling by Rs 2,400 per tola and Rs 2,058 per 10 grams.
  • Cumulatively, the precious commodity lost around Rs1,000 during the outgoing week.
  • It drops from $ 26 an ounce to around $ 1,787 in the international market.

KARACHI: Gold lost its luster again as it fell more than 2,000 rupees per tola in Pakistan on Saturday, in line with world markets.

The prices of bullion on the local market fell by Rs 2,400 per tola and Rs 2,058 per 10 grams to reach Rs 122,800 per tola and Rs 105,281 per 10 grams.

Cumulatively, the precious commodity lost around Rs1,000 during the outgoing week.

It fell $ 26 an ounce to around $ 1,787 in the international market, according to All Sindh Saraf Jewelers Association (ASSJA).

Globally, gold was still heading for its worst week since mid-June, down 2.9% so far, under pressure from expectations that the US Federal Reserve could accelerate the rise in prices. interest rate, increasing the opportunity cost of holding non-interest bearing bullion.

Authorities around the world have reacted with concern to the discovery of a new variant of the virus, with the EU and Britain among those tightening border controls as researchers sought to establish whether the mutation was resistant to the vaccine, triggering a massive sell-off in the markets that infiltrated oil and other precious metals. .

But after the rally due to bullion’s appeal as a safe haven, the overall bearish turn in commodities ultimately claimed gold as well, said Jim Wyckoff, senior analyst at Kitco Metals, adding that the market reaction was likely. exaggerated.

Meanwhile, domestic silver prices remained unchanged at Rs 1,460 per tola and Rs 1,251.71 per 10 grams.

– With additional contribution from Reuters

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LATAM Airlines Group files reorganization plan, with the support of key stakeholders, paving the way for a strengthened capital structure and long-term sustainability https://piazzacarlogiuliani.org/latam-airlines-group-files-reorganization-plan-with-the-support-of-key-stakeholders-paving-the-way-for-a-strengthened-capital-structure-and-long-term-sustainability/ Sat, 27 Nov 2021 03:41:43 +0000 https://piazzacarlogiuliani.org/latam-airlines-group-files-reorganization-plan-with-the-support-of-key-stakeholders-paving-the-way-for-a-strengthened-capital-structure-and-long-term-sustainability/

Provides platform for Chapter 11 exit through full restructuring support agreement with ad hoc parent group and major shareholders

The plan would infuse up to about $ 8.19 billion into new funds in the group through a mix of equities, convertible notes and debt while complying with US and Chilean law

The plan would strengthen LATAM’s balance sheet, liquidity and capital structure for future operations

Santiago, Chile, November 26, 2021 / PRNewswire / – LATAM Airlines Group SA (“LATAM”) (SSE: LTM) and its subsidiaries in Brazil, Chile, Colombia, Ecuador, Peru, and United States today announced the filing of a reorganization plan (the “Plan”), which reflects the way forward for the group to exit Chapter 11 in accordance with US and Chilean law. The plan is accompanied by a Restructuring Support Agreement (the “RSA”) with parent company Ad Hoc Group, which is the largest group of unsecured creditors in these Chapter 11 cases, and certain shareholders of LATAM . The RSA documents the agreement between LATAM, the aforementioned holders of over 70% of the parent company’s unsecured debt and holders of around 48% of the 2024 and 2026 US bonds, and certain shareholders holding over 50% of the shares. ordinary, subject to the completion of the final documentation by the parties and the obtaining of social approvals by these shareholders. As they have done throughout the process, all of the companies in the group continue to operate as travel conditions and demand permit.

“The past two years have been characterized by hardships around the world – we have lost friends and family, colleagues and loved ones. And we were shaken as aviation and global travel were virtually crippled by the biggest crisis our industry has ever faced. . While our process is not yet complete, we have reached a critical milestone on the road to a stronger financial future, ”said Roberto alvo, Chairman and CEO of LATAM Airlines Group SA “We are grateful to the parties who have come together at the table through a strong mediation process to achieve this result, which provides meaningful consideration to all stakeholders and a structure that complies with US and Chilean law. Their injection of significant new capital into our business is a testament to their support and confidence in our long-term prospects. We are grateful to the exceptional team at LATAM who overcame the uncertainty of the past two years and allowed our business to continue to operate and serve our customers as smoothly as possible. “

Plan overview

The Plan offers the infusion of $ 8.19 billion in the group through a mix of new stocks, convertible notes and debt, which will allow the group to exit Chapter 11 with an appropriate capitalization to achieve its business plan. At emergence, LATAM is expected to have a total debt of approximately $ 7.26 billion1 and liquidity of around $ 2.67 billion. The group has determined that this is prudent leverage and appropriate liquidity in a period of continuing uncertainty for global aviation and that it will position the group better in the future.

More specifically, the plan specifies that:

  • As soon as the Plan is confirmed, the group intends to launch a $ 800 million offer of ordinary subscription rights, open to all shareholders of LATAM in accordance with their pre-emptive rights under applicable Chilean law, and fully guaranteed by the parties participating in the RSA, subject to the completion of the final documentation and, with respect to guarantor shareholders, the receipt of corporate approvals;

  • Three distinct classes of convertible notes will be issued by LATAM, all of which will be offered on a preferential basis to LATAM shareholders. Insofar as LATAM shareholders have not subscribed during the respective preferential subscription right period:

  • The convertible bonds belonging to Classes Convertibles B and C will therefore be provided, in whole or in part, in return for a contribution of new money for a total amount of approximately $ 4.64 billion fully guaranteed by the parties to the RSA, subject to receipt by the guarantor shareholders of the approvals of the company;

  • LATAM will raise a $ 500 million new revolving credit facility and approximately $ 2.25 billion in total, debt financing in new money, consisting of either a new term loan or new bonds; and

  • The group has also used and intends to use the Chapter 11 process to refinance or modify the group’s pre-petition leases, the revolving credit facility and the back-up engine facility.

Additional information

The hearing to approve the adequacy of the Chapter 11 disclosure statement and to approve the voting procedures is expected to be held in January 2022, with a precise timetable depending on the Court’s timetable. If the disclosure statement is approved, the group will begin the solicitation during which it will seek approval of the plan from the creditors. LATAM requests the hearing to confirm that the plan will be held at March 2022.

For more information, LATAM has created a dedicated website: www.LATAMreorganizacion.com, where stakeholders can find additional key information about this announcement. The group has also set up a hotline for Chapter 11 inquiries, accessible at the following address:

  • (929) 955-3449 or (877) 606-3609 (US and Canada)

  • 800 914 246 (Chile)

  • 0800 591 1542 (Brazil)

  • 01-800-5189225 (Colombia)

  • (0800) 78528 (Peru)

  • 1800 001 130 (Ecuador)

  • 0800-345-4865 (Argentina)

He also has a dedicated email for inquiries related to the reorganization at lataminfo@primeclerk.com.

LATAM is advised in this process by Cleary Gottlieb Steen & Hamilton LLP and Claro & Cia. as legal advisers, FTI Consulting as financial advisor and PJT Partners as investment banker.

The Parent Ad Hoc group, led by Sixth Street, Strategic Value Partners and Sculptor Capital, is advised by Kramer Levin Naftalis & Frankel LLP, Bofill Escobar Silva, and Coeymans, Edwards, Poblete & Dittborn as legal advisers and Evercore as investment banker.

The shareholders mentioned above are (a) Delta Air Lines, Inc., advised by Davis polk & Wardwell LLP, Barros & Errázuriz Abogados, and Perella Weinberg Partners LP as legal advisor and investment banker, (b) the Cueto group and the Eblen group,2 advised by Wachtell, Lipton, Rosen & Katz and Cuatrecasas as legal advisor, and (c) Qatar Airways Investment (UK) Ltd., advised by and Alston & Bird LLP, Carey Abrogados and HSBC as legal advisor and banker of ‘investment. Some of these shareholders are advised on an individual basis by Greenhill & Co., LLC and ASSET Chile, SA as co-financial advisers.

About the LATAM Airlines Group

LATAM is the leading airline group in Latin America with a presence in five domestic markets in the region: Brazil, Chile, Colombia, Ecuador and Peru, in addition to international operations within Latin America and between her and Europe, United States, and the Caribbean.

The group has a fleet of Boeing 767, 777, 787, Airbus A321, A320, A320neo and A319.

LATAM Cargo Chile, LATAM Cargo Colombia and LATAM Cargo Brazil are the cargo subsidiaries of LATAM Airlines. In addition to having access to the passenger compartments of the LATAM Airlines group, they have a fleet of 11 freighters, which will gradually increase to a total of 21 freighters by 2023. They operate on the LATAM group network as well as on international routes. which are only used for shipping. They offer a modern infrastructure, a wide variety of services and protection options to meet all customer needs.

Forward-looking statements

This report contains forward-looking statements. These statements may include words such as “may”, “will”, “expect”, “intend”, “anticipate”, “estimate”, “plan”, “believe” or others. similar expressions. Forward-looking statements are statements that are not historical facts, including statements about our beliefs and expectations. These statements are based on LATAM’s current plans, estimates and projections and, therefore, you should not place undue reliance on them. Forward-looking statements involve known and unknown inherent risks, uncertainties and other factors, many of which are beyond LATAM’s control and are difficult to predict. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors and uncertainties include, but are not limited to, those described in the documents we have filed with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and we do not undertake to update them publicly, whether in light of new information, future events or otherwise.

Media contacts
Ximena Ossa, Head of External Communications, LATAM Airlines Group
Rachel Chesley / Ana Heeren, FTI Council
comunicaciones.externas@latam.com

Investor contact
Tori Creighton, Head of Investor Relations LATAM Airlines Group
investor relations@latam.com

____________________

1 The total debt expectation cited is on an “as converted” basis and excludes convertible debt.

2 The Cueto Group is made up of Costa Verde Aeronáutica SA and Inversiones Costa Verde Ltda y Cia. en Comandita por Acciones, and the Eblen Group is made up of Andes Aerea SpA, Inversiones Pia SpA and Comercial Las Vertientes SpA.

Cision

View original content: https://www.prnewswire.com/news-releases/latam-airlines-group-files-plan-of-reorganization-with-support-of-key-stakeholders-paving-the-way-for – reinforced-capital-structure-and-long-term-sustainability-301432548.html

SOURCE LATAM Airlines Group SA

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Raheem Sterling ‘makes decision’ on future as Newcastle linked with Man City fan favorite https://piazzacarlogiuliani.org/raheem-sterling-makes-decision-on-future-as-newcastle-linked-with-man-city-fan-favorite/ Fri, 26 Nov 2021 15:00:00 +0000 https://piazzacarlogiuliani.org/raheem-sterling-makes-decision-on-future-as-newcastle-linked-with-man-city-fan-favorite/

Welcome to the latest edition of The city is our Daily roundup, where we take a look at some of the Manchester City stories you might have missed.

Following repeated links with a estrangement from the club, with Barcelona apparently their biggest admirers, there is apparently a new development in City winger Raheem Sterling’s future.

City left-back and Ukraine international Oleksandr Zinchenko excelled after his surprise midfield selection against Paris Saint-Germain on Wednesday, and the performance doesn’t seem to have gone unnoticed.

And finally, former City winger Shaun Wright-Phillips shows no sign of shared loyalty in his prediction on Premier League title fate.

Sterling stays?

After spending an incredible summer with England, it was hoped that Sterling City’s performances would follow.

A slow start to the season followed, but Raheem has shown signs of returning to his best in recent weeks.

According to The Sun, Sterling will sign a new deal at City, pushing back the alleged interests of Arsenal and Barca.

Raheem’s current terms expire in June 2023 and, having found the net against Club Brugge, Everton and Paris Saint-Germain ahead of the Eastlands loyalists recently, a new contract would continue an upward curve for a player most fans love it.



Raheem Sterling, Gabriel Jesus and Riyad Mahrez are all out of contract in 2023.

Zinchenko’s exit?

Newcastle United will almost certainly look to tap into their new funds available in January as they aim to avoid relegation from the Premier League.

One player they might be looking to add to their squad is City full-back Oleksandr Zinchenko.

Mail Online reported that Zinchenko was on Newcastle’s January roster, with a first loan apparently their preferred course of action.

Zinchenko had to bide his time this quarter, in large part because Joao Cancelo is one of Europe’s most outstanding players.

The City left-back has played less than 60 minutes in the Premier League this season, although he has shown his enduring quality and versatility midweek and many fans would be sad to see him go.



Just like you, we never tire of Manchester City! This is why we have decided to complete our extensive City coverage on the Manchester Evening News with a more fan-centric platform designed specifically for City fans – The city is ours.

Writers and presenters who share your passion for the blue side of Manchester will produce written, visual and audio content to reflect the mood in the stands as well as in the press box.

Follow our team on Twitter (@ DomFarrell1986 and @alex_brotherton)!

Wright-Phillips Predicts City Glory

Shaun Wright-Phillips is a name that brings back fond memories of the Blues.

He was a shining light at a difficult time for the club before joining Chelsea in 2005 and his return three years later sparked a wave of emotion.

Speaking to Metro, the former England winger showed where his loyalties still lie – predicting that the Premier League trophy will stay at the Etihad Stadium rather than travel to Stamford Bridge.

“For me if City got a striker he would probably run away with the league I think. But at the moment I still think City are the favorites because they have proven themselves over a longer period of time,” a- he declared.

Shauny also warned Pep Guardiola of the difficult task his side may face on Sunday as he presses David Moyes’ West Ham to clinch the Champions League places.

He added: “I will go to City, Chelsea, Liverpool and. do you know what, i’m going to look for a stranger. I’ll say West Ham might just sneak up on it. “

Do you think City will win the Premier League? Let us know your thoughts in the comments section below.


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No TDS obligation for online auctioneers if certain facts are met: CBDT https://piazzacarlogiuliani.org/no-tds-obligation-for-online-auctioneers-if-certain-facts-are-met-cbdt/ Thu, 25 Nov 2021 15:58:15 +0000 https://piazzacarlogiuliani.org/no-tds-obligation-for-online-auctioneers-if-certain-facts-are-met-cbdt/

The Central Commission for Direct Taxes (CBDT) clarified that the withholding tax (TDS) provided for e-commerce operators under Article 194-O of the Income Tax Law will not apply. not to online auction activities conducted by online auctioneers.

This exemption will only be available if the six facts listed by the Central Direct Taxation Council in its latest circular are satisfied. This clarification will not apply if any of these facts are not satisfied.

In addition, it is specified that the buyer and the seller would always be required to deduct / collect the tax in accordance with the provisions of Articles 194Q and 206C (IH) of the Law, as the case may be.

Preconditions

The six facts listed are:

a) The auctioneer performs electronic auction services for his clients on his electronic portal and is only responsible for the price discovery that is reported to the client.

(b) The price so discovered through the electronic auction process is not necessarily the price at which the transaction takes place and it is up to the customer to accept the price or to negotiate directly with the counterparty.

(c) The buy / sell transaction takes place directly between buyer and seller outside of the electronic portal maintained by the online auctioneer and price discovery only serves as a starting point for negotiation and negotiation. conclusion of the purchase / sale.

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(d) The auctioneer is not responsible for facilitating the buying and selling of goods for which the electronic auction has been conducted on its electronic portal, except to the extent of price discovery.

(e) Transactions payments are made directly between buyer and seller outside of the electronic portal and the auctioneer has no information on the quantum and payment schedule which are mutually agreed upon. by the client and the counterparty.

(f) For payment made to the electronic auctioneer for the provision of electronic auction services, the customer deducts tax under the relevant provisions of the Law other than Article 194-0 of the Law.

Stakeholder representations

The Central Council of Direct Taxes had received representations from various stakeholders involved in the activity of providing electronic auction services through electronic portals owned, operated or maintained by them (hereinafter referred to as “electronic auctioneer”).

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It has been stated that in an electronic auction, the auctioneer involved in the conduct of the electronic auction through their portal is only responsible for finding out the price for the sale / purchase of goods or services and the outcome of the auction. auction report is submitted to the customer. The customer can be the buyer or the seller. Participants in auctions are sellers (if the customer is a buyer) or buyers (if the customer is a seller). The sale / purchase transaction is carried out directly between the buyer and the seller and not via the electronic portal of the online auctioneer. In addition, the price thus discovered may be further negotiated between the parties without the knowledge of the online auctioneer. In such a scenario, it was represented that the provisions of article 194-0 of the Law do not apply since the sale / purchase transaction itself does not take place via the electronic portal.

Deduction at the time of credit

It may be recalled that the 2020 finance law inserted a new article 194-0 in the 1961 law on income tax, which provides that from 1 October 2020, an e-commerce operator must deduct income tax at the rate of one percent of the gross amount of the sale of goods or the provision of services or both facilities through its digital or electronic facility or platform.

See also: India and US reach compromise on digital tax

However, an exemption from said deduction has been provided for in the case of certain persons or the undivided Hindu family subject to compliance with specified conditions.

This deduction must be made at the time of crediting the amount of that sale or service or both to the account of an e-commerce participant or at the time of payment of the latter to that e-commerce participant, whichever occurs first. contingency.

Government departments

In another related clarification, the Central Council for Direct Taxes said an issue had been raised in cases where a government department would be considered a “seller” for the purposes of tax deduction under the article 194Q of the law.

In this regard, it is specified that for the purposes of article 194Q, the central government or the government of the State will not be considered as “seller” and no tax will be deducted by the buyer, in cases where a department of the central or state government government is a seller of goods, the Central Direct Taxation Council circular said on Thursday.

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The Central Direct Taxation Council also clarified that any other person, such as a public sector enterprise or a company established under central or outdated law or any other such body, authority or entity, would be required to comply with the provisions of section 194Q and will be deducted accordingly.

The Central Direct Taxation Council also issued a separate clarification on adjusting various state levies and taxes other than GST.

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