first_img Harry Robertson whatsapp Tags: Trading Archive Share whatsapp UK mortgage approvals fall as Brexit uncertainty bites Read more: UK house prices: Experts warn of ‘Brexit downward spiral’Remortgage approvals were 6.6 per cent lower, following several months of strong growth in remortgaging as customers took advantage of a competitive mortgage market offering attractive deals.Overall gross mortgage lending was lower in February than it was in January, falling to £19.1bn from £22.5bn the month before, as the market failed to recover from its usual Christmas slump.However, gross mortgage lending across the residential market in February was £19.1bn, 2.5 per cent higher than the same month in 2018.Howard Archer, chief economic advisor to the EY ITEM Club, said: “February’s drop in mortgage approvals to a near six-year low adds to recent indications that heightened economic and Brexit uncertainties are weighing down on the housing market.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OraclePost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldMisterStoryWoman files for divorce after seeing this photoMisterStoryHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemPets DetectiveAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongPets Detective Tuesday 26 March 2019 11:45 am More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Mortgage approvals in the UK have fallen year-on-year as homebuyers put off their decisions amid political uncertainty, new data has revealed.The number of mortgages approved by the main high street banks in February was 2.2 per cent lower than the same month in 2018, the finance and business services body UK Finance said today. The market was also suffering under “relatively limited consumer purchasing power – despite recent improvement – after an extended squeeze, fragile consumer confidence and wariness over higher interest rates,” he said.Read more: House prices fall in London as buyers await Brexit resolutionManaging director of lifetime mortgage provider Responsible Lending, Keith Haggart, said: “The feeding frenzy of remortgaging to lock in low rates is a distant memory now but the determination of buyers remains.”He said: “The suspicion is that first-time buyers in particular are still moving heaven and Earth to get on the ladder while they can take advantage of some of the most generous government incentives in living memory.” last_img read more

first_imgCoronavirus | JuneauJuneau suspends drinking in bars again as COVID-19 cases spikeSeptember 11, 2020 by Rashah McChesney and Adelyn Baxter, KTOO Share:The Triangle Club Bar and a handful of other bars and restaurants in Juneau are temporarily closed due to an outbreak of COVID-19 among bar workers. (Photo by Rashah McChesney/KTOO)Update | 9:25 p.m.Friday night ended up being last call for Juneauites for the next two weeks. In an evening emergency public health order, city officials raised the community alert level and mandated that all bars in Juneau must close to indoor service starting Saturday at noon.The move comes after local health officials reported that two more people linked to bar activity had tested positive for COVID-19 by Friday. So far at least 13 people have gotten sick after a single, large social gathering that many bartenders in town attended in late August.Deputy City Manager Mila Cosgrove wrote in an email that bars that have outdoor seating can still serve customers, but that seating has to allow for social distancing. According to the order, bars can still do curbside and delivery service. The order also requires restaurants to drop to 50 percent of indoor capacity and only to accept people who have made reservations in advance. Several bars and restaurants in Juneau had already closed down this week due to COVID-19 exposure. City officials urged anyone who has visited a bar in the last two weeks to get tested for COVID-19 this week, even if they don’t have symptoms. A pop-up COVID-19 testing center at Centennial Hall, targeted specifically to people who have been going to bars, will be  will be open through the weekend. It opened Friday and by mid-afternoon, Cosgrove said 147 people had been tested. The emergency order is in effect for 15 days. Original storyJuneau public health officials reported Friday that two more people linked to bar activity had tested positive for COVID-19. So far at least 13 people have gotten sick after a single, large social gathering that many bartenders in town attended in late August. City officials set up a pop-up COVID-19 testing center at Centennial Hall that will be open through the weekend. They urged anyone who has been to any bar in Juneau in the last two weeks — between August 29th and now — to get tested, even if they don’t have symptoms. Deputy City Manager Mila Cosgrove said that by 1 p.m. on Friday, 147 people had been tested at the pop-up center. “This morning, there a was bit of a line up of cars right at 9 a.m. They processed those through as quickly as possible. After that it kept steady but I don’t think they had long lines,” Cosgrove said. Based on those numbers, she said they expect to see 250-300 people a day at the pop-up testing center, but it could slow down by the end of the weekend. The two new cases were part of 11 total among residents of Juneau that city officials identified on Friday. Cosgrove said two of those cases are not new.“They’re actually from Juneau residents who tested positive while they were out of the state,” she said. And, she said the bar scene isn’t the only thing driving case counts up. “There are several things going on in the background,” Cosgrove said. “We also have several large household family groupings where there’s been a positive member in the household who has then passed COVID to other members of the household.”But in those cases, she said there’s lower overall risk to the community because those families are quarantined and isolated. Cosgrove said the city expects to start seeing results from its broader testing efforts beginning on Saturday. But city health officials aren’t ready to raise the alert level yet. She said they’re watching the numbers closely, but emphasized that Juneau residents are responsible for their own safety. “I would encourage people to remain just personally vigilant and cautious about how they’re choosing to spend their time,” she said. “Be cautious for just a few days, while we take the time to sort this out.”A previous version of this story incorrectly stated that at least 3 people that have been sickened with COVID-19 have been traced to a single late-August gathering.  That figure is 13. Share this story:last_img read more

first_img Express KCS whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementVikings: Free Online GameIf you’re over 50 – this game is a must!Vikings: Free Online Game Tuesday 27 January 2015 8:49 pm REVENUE at PZ Cussons tumbled 10.4 per cent to £387m in the six months to 30 November 2014, compared to the year before.Falling revenue had an adverse effect on pre-tax profits which were down 7.9 per cent in the same period to £40m.Revenues were particularly hit by the firm’s exposure to Nigeria which has suffered from high levels of disruption during the period caused by unrest in the north of the country as well as a weakening of the Naira.The company raised its dividend 3.2 per cent to 2.6p per share after basic earnings per share saw a two per cent fall during the period.Chairman Richard Harvey said: “These are good results in what have been difficult markets.”“The macro environment in Nigeria for the remainder of the financial year will be a key factor to the overall result for the full year.”The company said its sales performance reflects the loss of contribution of £34m in revenue and £3.4m in operating profit from prior year disposals. Adjusting for acquisitions, disposals and the negative exchange impact from translation, revenue growth came in at 1.5 per cent.The firm incurred exceptional costs of £4m in the period. Share Nigerian instability weighs on sales at soap-maker PZ Cussons center_img Show Comments ▼ whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Tags: NULLlast_img read more

first_img Tags: NULL Icap: outlook is positive despite uncertainty on Greece and rates Express KCS by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesGameday NewsNBA Wife Turns Heads Wherever She GoesGameday Newszenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirror Show Comments ▼ Sharecenter_img ICAP boss Michael Spencer said the broking firm had started the year on an improved footing, despite challenges arising out of the uncertainty regarding Greece and a lack of clarity around interest rates.The company posted a one per cent drop in revenue for the three months between 1 April and 30 June, however the chief executive said: “We have started the year a leaner business, set for long-term growth and increased profitability.”The company’s electronic markets business grew revenue by six per cent during the first quarter, offset by declines in the global broking and post trade risk and information divisions.Icap said continuing uncertainties surrounding Greece and the future of the Eurozone had reduced risk appetite and trading volume, and also cited the fact that there is “still no clear picture on the future direction and timing of any interest rate moves”.Shares closed up by 1.54 per cent. whatsapp Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapTop 10 Fried Chicken Spots in the U.S.GayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapAdrian Grenier Agrees That Nate Is the ‘Real Villain’ in ‘The Devil WearsThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe Wrap’In the Heights’ Stars Melissa Barrera and Leslie Grace on Nailing ThoseThe Wrap Wednesday 15 July 2015 8:29 pm whatsapplast_img read more

first_imgNederland, Rotterdam, 2008Op de ECT terminal op de Maasvlakte worden containers door containerkranen en werknemers op en overgeslagen Foto; Freek van Arkel/Havenbedrijf Rotterdam By Mike Wackett 14/07/2017 More evidence emerged today that higher volumes and improved contract rates in the second quarter of the year have boosted the earnings of ocean carriers.In a financial update today Yang Ming said that its revenue in June was up 22.9% compared to the same month last year, while cumulative turnover for the half-year was ahead by 15.6%.It also added that it had seen a 10% year-on-year growth in its liftings in the six-month period.The under-pressure Taiwanese carrier published the data in an endeavour to raise the confidence of shippers and service partners, and to demonstrate how its trading was improving.Yang Ming’s optimistic outlook follows Cosco’s announcement to the Shanghai Stock Exchange last week – ahead of its proposed takeover of OOCL – advising that it was forecasting a net profit of $272m for the first six months of the year.One source at a Asia-North Europe carrier told The Loadstar this week “all our ships from China are full”, and said that average rates per teu on recent voyages were “more than double” those of a year ago.He put the rate improvement down to loading a much higher percentage of contract cargo than last year and the reduced need to tap volatile spot markets.And anecdotal reports suggest that since the recent spate of M&A activity, there is simply less competition on the route. The only carrier that appears to be down on its volumes is Maersk Line, due to it being hobbled by the recent cyber attack on its servers.One concern that could threaten the current stability on the tradelane is how long Maersk will wait before “incentivising” shippers of ‘lost’ volumes to return to its fold.Elsewhere, on the transpacific, carriers have not been as successful in improving the margins on annual contracts running from May to May, despite volume growth.Furthermore, spot rates between Asia and the US came under pressure around the time of, and since, the conclusion of contract negotiations, prior to seeing a strong recovery last month.Nevertheless, since that rally rates on transpacific have slipped each week.Indeed, this week’s Shanghai Containerized Freight Index (SCFI) recorded a further 5.1% erosion in spot rates from Asia to the US west cost to $1,265 per 40 ft.For US east coast ports there was a drop of 2.4% on the week to $2,251 per 40 ft.Meanwhile, rates for the European components of the SCFI also lost ground.Spot rates for North Europe fell by 3.1% on the week to $939 per teu, while rates for Mediterranean ports declined by 4.6% to $864 per teu.Carriers have had some success in introducing increased FAK [freight all kinds] rates on the Asia-Europe trade, along with peak season surcharges (PSS), but that has not been replicated on the transpacific, where carriers have been forced to postpone their recent GRIs [general rate increase].Analyst Drewry said it “expects that deferral of GRIs on the transpacific” to result in further rate decline “while the Asia-Europe market is expected to remain strong”.last_img read more

first_img Imperial Logistics International has appointed Sandro Knecht (pictured above, left) as chief commercial officer.Mr Knecht joins from Ceva Logistics, where he spent seven years across various management positions, most recently as executive vice president of global supply chain solutions.Prior to that he had a 17-year career with Panalpina, including holding the role of managing director of the UK and Ireland.At Imperial, Mr Knecht will take on responsibility for leading and managing business development. Chief executive Hakan Bicil (above, right), himself recently appointed, said he was delighted to welcome Mr Knecht to the team.“Sandro’s impressive experience and track record in logistics and freight management equip him to play a major role in the future development of our business around the world.”Mr Knecht said: “Imperial Logistics’ solutions offering is already impressive, backed by a strong operational platform that provides a solid foundation for future growth,” he said. By Alexander Whiteman 18/01/2019last_img read more

first_imgAdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments AdvertisementTags: Dane EagleDEOGovernor Ron DeSantis The money was awarded through the DEO’s Rebuild Florida Mitigation General Infrastructure Program, according to the governor’s office. The program allows local governments to develop large-scale infrastructure projects to make communities more resilient to future disasters. Avon Park, Doral, Fort Lauderdale, Key West, Lakeland, Lauderhill, Miami, North Miami Beach, Orlando, Sebring, and West Palm Beach city governments will also receive an award from the DEO. Governor DeSantis also said Broward and Osceola counties will receive a portion as well. Over 1,000 unemployment claim call takers let go as DEO cancels contract June 12, 2021 LCSO among law enforcement agencies deploying officers to Texas, Arizona June 16, 2021 AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments Florida bans ‘critical race theory’ from public school classrooms June 13, 2021 Advertisement DEO investigates claims of hacking and stealing unemployment benefits June 15, 2021 LAKELAND, Fla. – Nearly $150 million was awarded to some Florida communities to help make more resilient infrastructures. Two local communities, DeSoto County and the City of Arcadia, will receive a portion of the award, according to Governor Ron DeSantis. The City of Arcadia will receive $4,823,579 to widen a stormwater tributary to provide additional storage to control flood volume. The governor’s office also confirmed DeSoto County will receive a total of $7,030, 587. This will go towards replacing a decaying drain system infrastructure and repairing a bridge used as an evacuation route during storms. Governor Ron DeSantis made the announcement Friday during a news conference with the Florida Department of Economic Opportunity Executive Director Dane Eagle. Advertisement RELATEDTOPICS Advertisementlast_img read more

first_img Facebook WhatsApp Twitter Pinterest Ten Laois based players named on Leinster rugby U-18 girls squad Home Deaths Deaths in Laois – Wednesday, August 15, 2018 Deaths Deaths in Laois – Wednesday, August 15, 2018 Facebook By LaoisToday Reporter – 15th August 2018 Rugby Five Laois monuments to receive almost €200,000 in government funding Pinterest RELATED ARTICLESMORE FROM AUTHOR Community Previous articleAll of Tuesday night’s Laois GAA resultsNext articleLISTEN: Bernard O’Shea reacts to coming ninth in Laois’s Hottest Men list LaoisToday Reporter TAGSDeaths Below are the recent deaths in Laois.Ar Dheis De go raibh a anam.Michael HigginsEsker, Timahoe, LaoisMichael Higgins Esker Timahoe Died Aug 11 at The Regional Hospital Portlaoise. Beloved son of the late Michael and Peg and dear brother of the late Willie. Deeply regretted by his brother Paul, sister in law Nellie,cousins, neighbours, relatives and friends.R.I.PRemoval on Wednesday at 6.30pm from Regional Hospital, Portlaoise to Chapel of Repose in The Church of The Sacred Heart, Stradbally arriving at 7pm. Requiem Mass on Thursday at 12 noon in St. Michael’s Church, Timahoe. Burial after in St. Michael’s Cemetery, Timahoe.Philomena (Phil) Maloney (née Casey)Tonafarna, Vicarstown, LaoisPeacefully at the Regional Hospital Portlaoise. Loving wife of the late Frank and dear sister of the late Paddy. Sadly missed by her loving family John, Shirley, Brendan, Colette, Kieran, Denise, Carmel, Stephanie and Linda, brothers Noel and Martin, grandchildren, sons-in-law, daughters-in-law, extended family and friends. Reposing at her daughter Colette’s residence Ballyduff, Stadbally (Eircode R32 FN40) on Monday from 2pm with Rosary at 8pm. Removal on Tuesday arriving Church of the Assumption, Vicarstown for Requiem Mass at 12 noon. Funeral afterwards to Moyanna Cemetery. House Private On Tuesday Morning Please.Gwyn Cooper Flynn (née Gill)Cyprus Lodge, Castletown, LaoisGwyn Cooper Flynn, (nee Gill), Cyprus Lodge, Castletown, Portlaoise, Co. Laois, August 11th, 2018, (peacefully) at Tallaght Hospital, Dublin. Beloved wife of the Late Brian Cooper and Rev. George Flynn and loving mother of Stuart, Scott, Ross, Robin and Dale and grandson Matthew, brother Wilbert, sisters Iosbel (Delahunt) and Rev. Lesley (Robinson), daughters in law Phil, Jenny and Shauna, nieces, nephews, relatives, neighbours and friends. Reposing at her home this Sunday afternoon from 1 o’c with prayers in the house at 8 o’c. Funeral Service on Monday morning, Aug. 13th, at 11 o’c in St. Jude’s Church, Annatrim,Coolrain , followed by burial in the adjoining Churchyard. Family flowers only please, donations in lieu, if dseired, to Rev. Lesley Robinson in Aid of Tallaght Hospital. House private please on Monday morning.Richard (Dickie) DoyleUpper Forest, Mountmellick, Laois/Windgap, KilkennyRichard (Dickie) Doyle Upper Forest Mountmellick Co.Laois formerly Tullahought Co.Kilkenny died peacefully at home in the loving care of his wife and family on August 11th. Predeceased by his sister Eileen Deeply regretted by his loving wife Winnie, daughter Mary, sons Kevin, Aidan, David, Kieran and Robert, son and daughters-in-law, brothers Eamon and Peter, brother and sisters-in-law, grandchildren and greatgrandchildren, extended family and friends. Reposing in his home on Sunday from 5pm with Recital of The Rosary at 8pm. Funeral arriving for 11am Requiem Mass on Monday in St.Mary’s Church Clonaghadoo. Burial after in St.Mary’s Cemetery. Family time on Monday morning please. EIR Code R32Y2X4William (Bill) Sheerin6 Marian Hill, Portarlington, LaoisPeacefully at the Regional Hospital Portlaoise. Deeply regretted by his loving wife Louis a sons Mark and Paul, brothers Colm, Jack and Ned, grandchildren Jamie, Tamara, Jason, Brigid and Keith, daughters-in-law Fiona and Olivia, extended family, neighbours and friends. Reposing at Mahers Chapel of Rest Portarlington on Sunday from 7pm with Rosary at 8pm. Removal on Monday at 9:20am arriving St Michael’s Church Portarlington for Requiem Mass at 10am. Funeral afterwards to St Michael’s Cemetery Portarlington.Maureen DunneCastlecuffe, Clonaslee, LaoisEx National Teacher Stratford on Slaney, Baltinglass, Co. Wicklow, and Rath, Ballybrittas, Co Laois. Died peacefully on the 8th of August 2018 in her 99th year at Kilminchey Lodge Nursing Home, Portlaoise, Co. Laois. Predeceased by her brother Michael, and sister Sr. Oliver (Presentation Sisters, Kildare). She will be very sadly missed by her sister Sr. Alphonsus (Presentation Sisters, Kilcock, Co Kildare), cousins, neighbours, and friends.Reposing at the residence of her cousin Pat Dunne, Ballymacrory, Clonaslee, Co. Laois, from 6pm on Thursday evening with Rosary at 9pm. Reposing on Friday from 12 noon with removal Friday evening at 7pm arriving to St. Manman’s Church, Clonaslee for 7.30pm. Funeral Mass on Saturday at 12 noon, followed by burial afterwards in St. Manman’s Cemetery, Clonaslee.SEE ALSO – Deaths in Laois – Tuesday, August 14, 2018 Twitter Community WhatsApp Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’last_img read more

first_img Facebook Twitter Pinterest Electric Picnic Previous articleBusiness Bulletin: Social Enterprise fund, job vacancies decline and Central Bank governer to address Laois businessesNext articleExtra Dublin teams at underage level could be a way to level playing field, says former GAA president Steven Millerhttp://www.laoistoday.ieSteven Miller is owner and managing editor of LaoisToday.ie. From Laois, Steven studied Journalism in DCU and has 14 years experience in the media, almost 10 of those in an editorial role. Husband of Emily, father of William and Lillian, he’s happiest when he’s telling stories or kicking a point. Electric Picnic WhatsApp Facebook By Steven Miller – 25th January 2021 Electric Picnic apply to Laois County Council for new date for this year’s festival Pinterest Electric Picnic organisers release statement following confirmation of new festival date Portlaoise motorway toll estimated to be down €6 million in 2020 as traffic drops by more than 30% WhatsApp RELATED ARTICLESMORE FROM AUTHOR Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Home News Business Portlaoise motorway toll estimated to be down €6 million in 2020 as… NewsBusiness Twitter The company that runs the M7/M8 motorway toll outside Portlaoise are estimated to have lost around €6 million in revenue in 2020.Figures reported by The Currency website estimate that an average of over 16,000 vehicles per day passed through the toll, down from over 24,000 in 2019.Celtic Roads Group (Portlaoise), who operate the tolls, are under a 30-year concession with Transport Infrastructure Ireland in what is a public-private partnership. The road opened in mid 2010 with traffic in 2020 lower than at any other time over the past 10 years.Though The Currency reports that “very little detail is publicly available”, they were able to calculate tolls by deducting from its turnover.Net of subsidies it took in around €18.3 million in 2019. That was expected to be around €12.3 million in 2020.“The year 2020 has been a very challenging year throughout Irish society and traffic across the national road network work have declined. The exact number at specific tolling operations is not confirmed at this time, but in general the overall numbers are down across the entire motorway network,” a TII spokesman told The Currency.“Yet real-time traffic monitoring data is now available for the whole of 2020, reflecting the ups and downs of economic and social activity since the virus arrived in the country,” wrote Thomas Hubert.“The Currency combined these figures with those available for the previous decade and with financial reporting by industry participants over the same period.“Our analysis shows that close to €100 million in toll revenue was lost to the pandemic last year, compared with 2019. In most cases, traffic has fallen by around one third, back to the levels observed in the early 2010s, before the economy recovered from the financial crisis.”The Currency’s analysis estimates that takings at the M50 were down €45.7 million while the Port Tunnel was down €8.1 million and M4/M6 was down €6.5 million.Celtic Roads Group also operates the Dundalk Western by-pass and the Waterford by-pass under partnerships with the TII and the local authorities.SEE ALSO – Calls for indoor sports centre to built on lands Laois County Council purchased in 2019 Electric Picnic TAGSCeltic Roads GroupM7 MotorwayThe Currency last_img read more

Sonita Horvitch Projects under way are “expected to roughly double its EBITDA to almost $200 million in 2016 from about $98 million in 2012.” The company, he says, “is well funded to support these new projects; it currently has $122 million in cash on its books.” In essence, he says, “Boralex is a growth-oriented power company.” With Boralex’s cash-flow pick-up, there is, says Carscallen, the possibility of the introduction of a modest dividend. “But the company would like to continue to devote a substantial portion of its cash flow to further expansion.” The company currently trades at an EV/EBITDA of 7.7 times 2014 estimates, “a substantial discount to its peer group where the average is 10.6 times.” Should Boralex initiate a dividend, “this valuation discount could shrink.” Total % return 5Y* Akita Drilling Ltd. 4.1 32.7 Boralex Inc. 20.9 9.0 $1.44 52-week high/low Share this article and your comments with peers on social media $1.70-$1.03 $11.84-$8.50 Source: Morningstar *As of Sept.25, 2013 Western Forest Products Inc. $688.0 million Related news Keywords Fund managers,  Small-cap fundsCompanies Mackenzie Financial Corp. $15.10 NEO, Invesco launch four index PTFs 69.5 $15.66-$9.99 $10.30 Sept. 25 close $271.3 million 8.6 $388.8 million Mackenzie Investments announces fund changes Carscallen, who is a value manager, says that at the beginning of 2013 there was value to be had in most small-cap sectors. “Over the year, money has been flowing out of the mines and metals, in particular, into non-resource stocks.” Many resource stocks are now cheap by historic standards, while non-resource stocks “are starting to be fully valued.” Themes that have done well this year, he says, are sub-prime mortgage lenders, home-building-related companies, forest-products companies and auto-related stocks. Technology, which represents 5.5% of the index, was by far the strongest performer followed by consumer-discretionary stocks (8.3% of the index). Carscallen is remaining on the sidelines when it comes to metals and mining stocks, even though they are cheap. “The fundamentals for these companies are poor.” Gold stocks have plummeted since the beginning of the year and the macroeconomic environment is unlikely to boost the bullion price, he says. Stocks of metals producers are also down sharply, he says, given the uncertainty surrounding China’s economic-growth prospects. Carscallen is also “shying away from energy producers.” The past several years have been “tough” on them. “Their access to external capital has effectively been shut off, making growth difficult.” Also, he says, cash flows have been squeezed by both low natural-gas prices and the discount on the Canadian oil price versus the U.S. and international oil prices. At Mackenzie, Carscallen is responsible for managing some $350 million in small-cap mandates, including Mackenzie Canadian Small Cap Value and Mackenzie Canadian Small Cap Value Class funds. “Cash is higher than normal in my mandates. There is a dearth of opportunities in the non-resource sectors.” The small-cap portfolio averages 50 to 70 names and its benchmark is the S&P/TSX Small Cap Index. The mandates use the BMO Small Cap formula to define the capitalization limits on individual stocks. This limit is currently between $1.6 billion and $1.7 billion, says Carscallen. The mandates, he says, allow for a maximum of 20% in stocks with market capitalizations that are double this formula, or currently $3 billion. “The median market caps of the portfolios are, at present, $600 to $700 million.” The Mackenzie small-cap portfolio is decidedly underweight in the natural-resource sectors at 27.6%, at recent count, versus 51.7% of the index. The portfolio has 18.9% in energy (25.7% of the index), “with a focus on energy- services companies,” and 8.7% in materials, a substantial underweight versus the index at 26%. In materials, the portfolio’s focus is on packaging companies and forest products. In the latter category, Carscallen likes Western Forest Products, Inc. (TSX:WEF), a West Coast producer of lumber and wood-based products used mainly in residential home construction. Western Forest Products, says Carscallen, has a strong balance sheet and is “steadily improving” its EBITDA (earnings before interest, taxation, depreciation and amortization). “Its margins have been expanding thanks to the modernization of its lumber mills, the application of technology and the rising prices for its products.” This company is, he says, “a good way to play the U.S. housing recovery and the ongoing rebuilding of homes in Japan, in the wake of the tsunami.” With its strong and growing cash flow, “the company has introduced a share buy-back program and initiated a dividend.” Western Forest Products trades at an EV (enterprise value) to EBITDA of 5.6 times based on 2014 estimates. Carscallen sold his holding in Major Drilling Group International Inc. (TSX:MDI), which operates in the mining industry globally, with significant exposure to gold mining. With its customers deferring their drilling projects, Major Drilling’s revenues have dropped significantly, he says. “Given the mining industry’s poor fundamentals, it is not the time to be in this stock.” In the energy-services industry, a long-standing and current top-10 holding is Akita Drilling Ltd. (TSX:AKT.A). It provides drilling rigs to the energy industry, primarily in Alberta. The company has no debt, he says, and is a strong cash-flow generator. A high percentage of its rigs are “pad rigs or rigs that can easily be moved in a field, which has a high concentration of wells.” Pad rigs are in demand and this demand will grow, he says. “They are ideally suited for the popular unconventional drilling projects.” Akita’s stock has done well, “but is still cheap,” says Carscallen. The company trades at an EV to EBITDA of three times, based on 2014 estimates. Akita pays a dividend. In the renewable-energy industry, a long-time favourite of Carscallen’s is Boralex Inc. (TSX:BLX). The company operates a number of wind, hydroelectric, thermal and solar facilities in Canada, the United States and France. The stock is classified in the utilities sector. Boralex has phased out its shorter-term power contracts, says Carscallen. Now about 96% of its total contracts are long term. “This translates into steady, predictable cash flow.” The company does not pay a dividend, he says, but instead uses its cash flow to build new power facilities. Facebook LinkedIn Twitter -2.2 Scott Carscallen, vice-president and portfolio manager at Mackenzie Financial Cop., says that the sharp drop in junior gold and metal stocks and the lacklustre showing from oil and gas juniors presented a significant drag on the S&P/TSX small cap index from the beginning of 2013 to recent close. A specialist in small-caps, Carscallen notes that the resource sectors represent roughly half of this index. Offsetting their poor performance, the non-resource sectors have done well, he says, “with technology, industrials and consumer-discretionary stocks putting up particularly strong numbers.” The result, he says, is that the S&P/TSX Small Cap Index is essentially flat since the start of the year. Total % return 3Y* 23.6 Market cap 7.1 Franklin Templeton renames funds with new managers Total % return 1Y* read more