Legal Business – Monster Beats Kopfhorerde Wed, 06 Oct 2021 09:39:24 +0000 en-US hourly 1 Legal Business – Monster Beats Kopfhorerde 32 32 Goldman Sachs spin-off Juven to support high-growth African companies with big checks – TechCrunch Wed, 06 Oct 2021 09:01:46 +0000

Mauritius and UK investment firm Juven went live today with plans to fund growing tech and consumer companies in Africa.

The one-year-old company is looking to invest big checks in companies “that have proven business models, strong revenue traction and large addressable markets,” she said in a statement..

Juven is one of the few investment firms targeting growth deals on the continent, including TLcom, Novastar and Partech Africa, which have issued large checks to tech companies in recent years.

But unlike the others, the Juven is not a venture capital fund; The evergreen investment firm is a spinoff of Goldman Sachs’ core team for Africa, responsible for several high-growth investments in the tech scene since 2014.

Juven’s founder Jules Frebault led this team (also known as the Special Situations Group). He joined Goldman Sachs in 2010 and developed the department’s strategy from a Johannesburg office to support companies that could make good returns on the continent..

The team initially made some investments in private equity and credit; the most notable bets were in companies and telecom-led towers like the IHS towers.

Ultimately, Goldman Sachs got hold of growth stage investments in tech companies, supporting the first African unicorn Jumia, Zipline, and Eat’N’Go. He also led investments in Unicaf Series B, Jumo Series B Second, Kobo360 Series A and Twiga Foods Series B.

Frebault told TechCrunch that the Juven team has moved away from Goldman Sachs to “seize the opportunity of the growth phase in Africa with a dedicated structure, capital, resources and mandate.. ”

Thereby, Goldman Sachs has moved its growth portfolio – Unicaf, Jumo, Kobo360, Twiga and Eat’N’Go – to Juven. Some former Goldman Sachs employees also left with Frebault to develop Juven’s operations.

The company is structured to have a holding company and a balance sheet that holds its assets in cash. So when an investment is monetized, the capital returns and the Juven redeploys it. Such methods make it possible to various investments without raising dedicated funds.

“It’s actually similar to a business in terms of how it’s structured, ”said Frebault. “And the capital we deploy comes either from our balance sheet or from follow-up investments by our shareholders.

With this in mind, Juven has reinvested this year in four companies in its current portfolio. Although he plans to add more investments before the end of next year, Frebault says the company might not make more than three investments per year..

The average ticket size will range from $ 10 million to $ 30 million, then $ 50 million or more in follow-up checks. The founder says that for tech companies, which is one of Juven’s primary targets, he targets the Series B and later stage growth cycles.

Since Juven only makes a handful of investments per year, the company will provide Additional advantages around financial, legal, operational and strategic support.

“We have to be flexible and start at $ 10 million because that may be the right size for Serie B rounds on the continent,” Frebault said. “We don’t take a venture capital approach and we don’t invest in a lot of companies. We take concentrated positions and then continue to invest in these companies over time. “

La Juven is focused on entrepreneurs trying to leverage technology to solve access issues for the masses, the company said. Frebault adds that the Juven may also consider non-tech companies that may solve such problems.

Although the company says it can invest in almost anything, companies that solve problems related to food, education, health, financial services, trade and logistics will likely get a sign head before the others..

“We can invest in anything, but we stay away from extractive industries,” said the founder.

It is the same situation with countries as the investment firm has a preference for expanding businesses at regional level in major consumer economies such as Nigeria, Kenya, Egypt, South Africa, Ghana and Côte d’Ivoire.

Even though the team that led Goldman Sachs’ investments in Africa are now Juvenile, Frebault says the 152-year-old Asset Management division of the investment giant still has a global mandate that includes Africa. , although focusing on larger scale and institutional activity.

Goldman Sachs declined to comment on Frebault’s decision, the Juven’s activity, its own goals or broader plans for the region going forward.

Source link

]]> 0
small reading initiative follows the law of the name of the late Steve Carter | Education Tue, 05 Oct 2021 20:30:00 +0000

Although well below what the friends of the late Steve Carter are aiming for, state education superintendent Cade Brumley has said he plans to use $ 40 million in federal stimulus dollars in part to tackle Louisiana’s dismal reading problem.

Brumley said the state’s Department of Education clearly lacked the funds to fund a 2021 bill named after Carter, a former state official and champion of student reading who died of complications from COVID-19 last January.

The measure, House Bill 85, offers students in Kindergarten to Grade 5 reading problems up to $ 1,000 a year for expert help.

Without a dissenting vote, the Louisiana legislature approved a push to reduce the staggering number of young students who cannot read and name …

However, the annual bill is $ 159 million, and the legislature has failed to provide a means to fund the ambitious program.

Brumley said he was launching “our version” of the bill which would provide one-to-one lessons to qualified families for children with math or English difficulties.

Families would receive vouchers to be able to hire tutors of their choice.

“We are working on the legal processes to put this in place,” he said in a recent meeting with the editorial board of The Advocate.

No one disputes the problem.

Only 43% of kindergarten students read at grade level, 54% of first graders, 56% of second graders and 53% of third graders.

After years of neglect, public education officials are launching plans to improve the reading skills of kindergarten, first and second grade students …

Brumley said 117,000 students – about 17% of enrollments – attend schools rated “D” or “F” by the state.

The act is called the Steve Carter Literacy Program.

Twice a day, we’ll send you the headlines of the day. Register today.

Carter was elected to State House in 2007, where he served three terms, including chairman of the House Education Committee.

Some longtime friends of the late lawmaker wondered why the state couldn’t do more, especially as public schools are receiving around $ 4 billion from three rounds of federal aid to help fight the pandemic of coronavirus.

Rep. Scott McKnight, R-Baton Rouge and sponsor of the bill, said on Tuesday he had exchanged messages with Brumley but had not told him about the Superintendent’s plan.

McKnight said he knew from the start that it would be difficult to shell out dollars for the reading initiative.

In sudden turnaround, legislature approves aid to fight Louisiana's dismal reading rates

State lawmakers approved spending $ 2 million to tackle Louisiana’s alarming reading problem for its youngest students, in part because a …

“But I felt it was important to set the schedule,” he said. “We hope to get some money in the years to come to start snacking.”

The money Brumley plans to use for tutoring is part of the 10% set aside of federal dollars going into the state.

Local school districts get 90% of the money and Brumley said in June he was ordering school systems to prioritize literacy.

Reading problems in Louisiana have lasted for generations.

However, the pandemic has complicated literacy and other long-standing challenges for public schools after 18 months of upheaval in the classroom.

“The current health crisis and weather events have caused an unprecedented disruption in the education of students across Louisiana,” the department said in documents related to the tutoring effort.

“As school systems resume teaching, they must plan for the unfinished learning that students experienced in the wake of the pandemic and hurricanes. “

Source link

]]> 0
ESG is “mission critical”. Paul, Can Weiss enter law school? Mon, 04 Oct 2021 20:50:00 +0000
  • The firm launches an ESG institute with UC Berkeley Law
  • He plans to involve more law schools in ESG research

The names of companies and law firms shown above are generated automatically based on the text of the article. We are improving this functionality as we continue to test and develop in beta. We appreciate comments, which you can provide using the comments tab on the right of the page.

(Reuters) – Paul, Weiss, Rifkind, Wharton & Garrison have teamed up with the University of California’s Berkeley School of Law to launch a one-of-a-kind research initiative focused on ESG – the legal field in full swing growth of the environment, society and governance issues.

As the firm’s first ESG and Law Institute partner school, students and associate professors at the Business and Society Institute at Berkeley Law will work with Paul Weiss lawyers to conduct research, organize panel discussions, and bring together opinion leaders in the ESG field. Paul, Weiss will be offering two annual scholarships of $ 25,000 to Berkeley students involved in the new institute in the hope that they will help establish a cohort of young lawyers who are familiar with the many aspects of ESG practice. The firm plans to expand the institute and involve more law schools in the future.

The Berkeley partnership also reflects Paul, Weiss’ recent expansion into the Bay Area. The firm opened an office in Northern California in July 2020. It now has 17 attorneys.

Institute director Dave Curran, who is also co-chair of Paul, Weiss’s ESG consultancy, said the institute will tackle the big picture, the “existential” questions surrounding ESG. in a way that lawyers advising clients on day-to-day matters do not have the ability to contemplate. And that will bring academic rigor to the conversation around ESG, he said.

“We need a way to bring together thought leadership at a high and broad level that I can’t just do by leading a practice,” Curran said. “We also need to involve a wider community, including academics. “

Amelia Miazad, faculty director of the Business in Society Institute at Berkeley Law, said she envisions the new partnership with Paul, Weiss bridging the gap between theoretical discussions about ESG and what’s really going on within companies . Current ESG research tends to fall into a very practical category, such as business case studies, or very theoretical law journal articles.

“What’s exciting here is that we can do something that is really designed for executives and professionals, but still takes advantage of that academic rigor and that research,” Miazad said.

The research, polls and discussions produced by the Paul, Weiss ESG and the Law Institute will be publicly available, Curran said. The field is changing rapidly, he said, noting that Paul Weiss was the first large company to launch a dedicated ESG practice, in March 2020.

“ESG has been around forever,” Curran said. “The difference over the past two years is that lawyers recognize that companies that make obligations such as social or environmental commitments must actually meet those commitments. “

Paul, Weiss and its chairman Brad Karp have spoken on social and political issues such as marriage equality, voter protection and reproductive rights. But the company has also been targeted by critics who say its portrayal of fossil fuel customers makes it complicit in climate change.

Curran and Miazad both said they hoped the new institute would encourage law schools to incorporate more ESG training into their curriculum. Beyond Berkeley Law, few law schools offer ESG courses other than an occasional tutorial course, Curran said.

“We want the legal industry to recognize that it is essential for lawyers to fully understand ESG and its intersection with the law,” said Curran. “We need the students to think about it. It is the fastest growing specialty that no one knows.

Read more:

We put these ESG lawyers to the test

Big Law is betting ESG trend is here to stay with new moves from Orrick, Seyfarth

Source link

]]> 0
Colorado lawmakers increase cost of running a business Sat, 02 Oct 2021 07:30:00 +0000

Several years ago, I asked an associate what kept him awake at night as a businessman. He replied that it was not his competition or getting and retaining good staff, or even the rising costs of doing business, but rather growing and complex government regulations, where a simple misunderstanding or lack of awareness could lead to its demise.

Greg Fulton

He feared that a state agency would one day come and cite him for breaking a new law or regulation he hadn’t heard of, with penalties and fines that could force him to shut down his business. .

“I’m probably breaking a rule or a law on a daily basis and I don’t even know it,” he told me.

This small business owner is not unique. Many others fear for the well-being of their businesses and the livelihoods of their employees if those businesses shut down due to non-compliance with a specific rule. The state challenges all small business owners to be aware of all regulatory and legal changes made every year. At the same time, the business owner assumes the risks and possible consequences that might arise from inadvertently breaking a specific rule.

Each new regulation places additional stress on businesses. In particular, small businesses do not have the staff, such as full-time regulatory or HR specialists, or the resources to retain a lawyer like larger companies do, to sort out new regulations. and establish compliance processes and procedures. This responsibility rests with the owner to determine and requires them to take on the roles of lawyer, advisor, accountant, personnel specialist, etc. while trying to run his business.

During the last legislative session, there was extensive discussion and debate on several bills that included a new tariff or an increase to an existing tariff. Lawmakers have debated the value and impact these fees can have on businesses and personal portfolios.

While much attention was paid to these measures, less attention was paid to others that did not involve a direct cost, but rather increased trade expenses associated with new regulations, procedures or penalties. or modified which constitute what has been called, “regulatory drag”. This term applies to how much regulations add to the cost of doing business, harming their productivity.

Unfortunately, over the past few years in Colorado, our General Assembly and the state government have dramatically increased the body of regulations, laws, and rules, which increases the cost of doing business in Colorado, which in turn increases the cost of doing business in Colorado. results in higher prices for businesses and consumers. .

The real costs of these additional mandates are rarely quantified and if they are, they are generally underestimated. Developers tend to minimize the resources and costs associated with them. On the contrary, they stress the importance of these regulations and that their value outweighs all costs.

Even in cases where the social benefit may be significant, it cannot be ignored that these regulations increase costs, and these higher expenses must either be passed on as additional costs to customers or come at the expense of other items. including jobs.

A recent national study reported that the annual cost to our economy of excessive and expensive regulation is $ 4 trillion. This is more than triple the amount proposed to Congress for rebuildIng our national infrastructure.

The price of $ 4 trillion does not reflect its true cost either. The additional mental and emotional stress that government places on business owners is not easy to quantify, but it is likely to be substantial.

A good example of the implications of a new government mandate is Proposition 118, which passed in 2020. This is a unique family leave program, which will put 85% of Colorado employees in the state under a state-run scheme. family leave program that allows up to 12 weeks of paid family leave.

Programs such as family leave have been offered by many companies for a number of years, and some states have mandated programs. Colorado’s new program, however, is seen as a program with greater benefits than most other states or companies. This translates into higher costs for businesses in Colorado compared to neighboring states.

In 2020, the Common Sense Institute projected the impact of Proposition 118 on Colorado businesses and reported that profit margins could drop from 2% to 10%. The direct cost of the bonus – a cost shared between employer and employee – would be equivalent to an effective increase in personal income tax from 8% to 18%.

While new regulations or changes to existing ones will continue to be necessary, lawmakers and government officials must pay more attention to assessing the total impact on our state’s businesses and economy before to proceed with news. In addition, more attention needs to be paid to streamlining and removing obsolete rules and regulations.

Greg Fulton, of Denver, is the president of the Colorado Motor Carriers Association, which represents more than 600 companies directly involved or affiliated with trucking in Colorado.

The Colorado Sun does not have a paywall, which means readers don’t have to pay to access stories. We believe vital information needs to be seen by those affected, whether it is a public health crisis, investigative reporting or empowering lawmakers.

This report depends on supporting readers like you. For just $ 5 / month, you can invest in an informed community.

Source link

]]> 0
Texas abortion law appears designed to avoid challenge, judge says Fri, 01 Oct 2021 18:33:25 +0000

A federal judge weighing in on whether to temporarily stop a Texas law restricting abortions said it appears to have been designed to avoid lawsuits against the state.

“In fact, I think that’s what this whole law was designed to do – to find a state attorney who would isolate the state from that kind of judicial review that would normally exist,” US District Judge Robert pitmanin Austin said Friday during a hearing on Zoom.

Enforcement is the responsibility of citizens who take legal action to collect $ 10,000 in bounties for each illegal proceeding, a provision the Obama-appointed judge called “highly unusual.” Pitman ended the hearing without commenting on a request for a temporary injunction from the US Department of Justice that would put the law on hold while the case progresses.

Texas argued at the hearing that the department’s lawsuit should be dismissed because the state is not enforcing the ban and therefore cannot be prosecuted. The United States says Texas can be sued because any private citizen who enforces the ban are only agents of the state.

“What do you do with the argument that the very idea of ​​the law was to put an ordinary citizen in the place of the state?” Pitman asked Will Thompson, an attorney general for Texas. Ken paxton.

“We would respectfully disagree with this characterization,” said Thompson. “We do not believe that private plaintiffs are put in the place of the state. These types of laws are not as unusual as the opposing lawyer suggests.

The law, which came into effect on September 1, prohibits the procedure after about six weeks of pregnancy, before most women know they are pregnant. It bans abortions in Texas after detection of fetal heart activity and makes no exceptions for rape or incest. It also allows individuals to sue doctors and others suspected of violating the ban and to profit from the litigation.

QuickTake: How Texas Abortion Law Turns The Public Into Enforcement

During the hearing, the lawyer for the Ministry of Justice Brian Netter said the law was designed to “overrun the federal government” in attempting to prevent a court challenge to the constitutionality of the ban. He called the state’s actions “aggressive and terrifying.”

Netter also said the case could have an impact far beyond reproductive rights.

“The precedent set by this case will dictate whether the set of rights guaranteed by our national pact are reliable or can be manipulated into oblivion by subversive state action,” Netter said.

The ban is an “open threat to the rule of law,” he said. Although this case concerns abortion, “it is not difficult to imagine other laws,” written in the same way, designed to create a crippling effect on other constitutional rights, such as the freedom of speech. expression, Netter said.

Thompson said the ban does not relate to self-defense justice, that it is not unusual for state law to allow enforcement by private citizens, and that no injunction can be issued against a government employee.

The state also argued that the Justice Department does not have the power to prosecute to protect a constitutional right to abortion in the first place. While the 14th Amendment to the Constitution has been interpreted as guaranteeing access to abortion, only Congress can empower the Department of Justice to sue to enforce such a right by creating a “cause of action”, he said. Thompson said.

Congress “did not provide any for this specific type of case,” Thompson said, adding that the Justice Department’s assertion that he had always had the right to sue “cannot be just”.

The case is US v. Texas, 21-cv-00796, US District Court, Western District of Texas (Austin).

To contact the reporter on this story:
Erik Larson in New York at

To contact the editors responsible for this story:
Katia Porzecanski at

Peter Jeffrey, Steve Stroth

© 2021 Bloomberg LP All rights reserved. Used with permission.

Source link

]]> 0
Standard Chartered Sri Lanka appoints Yamuna Silva as Legal Officer – The Island Fri, 01 Oct 2021 02:15:19 +0000

The Commercial Bank of Ceylon has stepped up efforts to encourage Sri Lankans living abroad to invest in Sri Lanka with the support of the country’s benchmark private bank.

The Bank has launched a series of electronic forums designed to publicize the local investment opportunities available to Sri Lankans living or working in other countries and about the many special products and services offered by the Bank to facilitate an influx of foreign exchange. foreigners in the country. The forums are also a platform to share some ideas with the expat community on the economic conditions created in the country by the Covid pandemic.

The Bank has already concluded two such virtual events which have benefited members of the Sri Lankan expat community, workers and professionals living in the United Arab Emirates (UAE) and Kuwait. Two more are expected to be held soon for this segment in Oman and Qatar, the banks said.

Led by the Bank’s Senior Deputy Managing Director – Treasury Prins Perera, these electronic forums are held with the participation of the Bank’s overseas remittance partners, staff from Sri Lankan diplomatic missions, promotion officers foreign affairs of the Bank and members of its corporate management.

In addition to providing a comprehensive picture of the Sri Lankan economy backed up by statistics, these virtual forums are organized to encourage foreign direct investment in Sri Lanka and to maintain the Bank’s relationship with all of its stakeholders, the Bank said. Bank.

Participants are informed about the high yield investment opportunities available in Sri Lanka and the particular advantages that Commercial Bank offers to its investors and clients. They are also informed of the Bank’s Special Deposit Accounts (SDA) and other transfer accounts. Sri Lankan expatriate workers and potential investors receive valuable information about the Sri Lankan economy through these forums and find out about products and services that allow them to invest money in foreign currency accounts and term deposits. .

Commenting on the launch of the electronic forums, Managing Director and Managing Director of Commercial Bank, MS Renganathan said: “These virtual events have been organized to allow us to connect directly with our partners and Sri Lankan business communities to the foreign exchange when Sri Lankan banks vigorously attempt to import foreign currency to help alleviate the challenges the economy is currently facing. As Sri Lanka’s largest private bank, we have earned the trust of the people and are well positioned to play an important role in this effort.

The Bank provides all necessary facilities for expatriate investors who wish to invest in Sri Lankan companies by facilitating the opening of inbound investment accounts, offshore accounts and providing all support services associated with these accounts.

Commercial Bank also educates participants about the personal finance products and services it offers to help them maximize returns on the foreign currencies they earn. These include the payment account which can be accessed via a RemitPlus debit card issued free of charge when the account is opened. Sri Lankan citizens 18 years of age or older, who are recipients or senders of overseas funds are eligible to open a transfer account with no initial deposit and existing account holders who have received three or more transfers in the past. last six months can convert their existing accounts into RemitPlus Savings Accounts. This account helps meet the emergency cash needs of account holders through a specially designed cash advance facility of up to Rs 50,000.

Additionally, those who receive direct remittances through Commercial Bank receive Rs 2 off the going exchange rate on converting every US dollar or the equivalent into the currency they receive.

Senders and payees can also use the ComBank RemitPlus app to share the payout PIN securely with each other and can track their payout through the Remittance Tracker option in the app. In addition to these features, the ComBank RemitPlus app can be used to find information and services related to Bank remittances, such as contact details of specially trained business promotion officers stationed in Kuwait, Oman, in the United Arab Emirates, Korea and Qatar, as well as contact details for Sri Lankan diplomats. overseas missions and the Bank’s overseas remittance partners.

The first fully carbon neutral Sri Lankan bank, the first Sri Lankan bank to be among the 1000 best banks in the world and the only Sri Lankan bank to be so for 11 consecutive years, Commercial Bank operates a network of 268 branches and 931 automated agencies. machines in Sri Lanka. The Bank’s overseas operations include Bangladesh, where the Bank operates 19 outlets; Myanmar, where he has a microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I bank with majority ownership.

Source link

]]> 0
Navient leaves the federal student loans sector Thu, 30 Sep 2021 16:43:00 +0000 If approved, about 6 million borrowers will send their monthly payments to a new service agent. Navient plans to transfer those loans to Maximus, a company that has already contracted with the Department of Education to pay off overdue student loans.

The agency is reviewing documents from Navient and Maximus to “ensure the proposal meets all legal requirements and properly protects borrowers and taxpayers,” said Richard Cordray, director of federal student aid operations, in a press release.
Navient was prosecuted in 2017 for allegedly processing payments incorrectly by the Consumer Financial Protection Bureau when Cordray was the head of that federal agency. Navient has denied the allegations and the trial is ongoing. He has also been the subject of legal proceedings by several state attorneys general.
The company has been repeatedly targeted by consumer advocates and progressives, including Senator Elizabeth Warren, a Massachusetts advocate who earlier this year called on the government to turn Navient.

“Navient’s conduct has left millions of borrowers confused and paid longer, and prevented them from getting the help they are entitled to,” said Persis Yu, director of the loan borrower assistance project. students at the National Consumer Law Center, in a statement. the week.

What happens next?

Navient is currently one of the four largest service providers used by the Department of Education, processing over $ 237 billion in student loans. It was derived from another student loan company, Sallie Mae, in 2014.

Around 10 million additional borrowers will also benefit from a new servicer in the coming months. The Pennsylvania Higher Education Assistance Agency (PHEAA), better known as FedLoan, said in July that it would also end its contract with the Department of Education, citing the increased complexity and cost of servicing loans. federal students. Granite State, a nonprofit that serves around 1 million federal borrowers, is also pulling out of the business and transferring its loans to Edfinancial.
Borrowers should be on the lookout for advice from these agents regarding the transfer. It is not known where all of the PHEAA loans will be transferred to, but some are currently turned over to an agent called MOHELA, according to the Education Ministry.
Payments on federal student loans suspended since March 2020 are expected to resume on February 1. They have been frozen to help borrowers during the pandemic and have been repeatedly extended by the Trump and Biden administrations.

Source link

]]> 0
Britney Spears “on the cloud nine” after the suspension of his father from his guardianship Thu, 30 Sep 2021 02:13:00 +0000

LOS ANGELES, Sept. 29 (Reuters) – The trusteeship that controlled Britney Spears’ life for 13 years almost ended on Wednesday after a judge suspended her father, and the pop superstar later said she ‘she was “on cloud 9 right now.”

In a controversial three-hour hearing, Los Angeles Superior Court Judge Brenda Penny removed Jamie Spears from oversight of her daughter’s $ 60 million estate and set a date in November to discuss of the advisability of terminating the entire agreement.

In an Instagram post following the judge’s ruling, the “Stronger” singer posted a video showing her sitting next to a pilot in the cockpit of a small plane and maneuvering the controls.

“First time at the controls of an airplane and first time in a propeller plane !!! Damn, I was scared,” she wrote, without mentioning the guardianship.

In court, Penny removed Jamie Spears from his role after the singer’s lawyer said she didn’t want him involved for one more day.

“The current situation is not tenable. It reflects a toxic environment which requires the suspension of Jamie Spears, effective today,” said Penny.

The judge said she would hold a hearing on Nov. 12 to discuss a petition to end the guardianship that controls the affairs and personal affairs of Britney Spears.

Britney Spears, now 39, has struggled for years to break free from the legal settlement. She did not attend Wednesday’s hearing.

“It’s a big day for Britney Spears and it’s a big day for justice,” singer’s lawyer Mathew Rosengart told #FreeBritney fans gathered outside the Los Angeles courthouse.

“Britney Spears was faced with a ten-year nightmare, a Kafkaesque nightmare, orchestrated by her father and others,” Rosengart said.

Jamie Spears will be replaced by an accountant, John Zabel, on a temporary basis, Penny said.

Supporters of pop star Britney Spears celebrate after a judge suspended Britney Spears’ father from his 13-year role as the singer’s business controller at the Stanley Mosk courthouse in Los Angeles, California, U.S. United, September 29, 2021 REUTERS / Mario Anzuoni


#FreeBritney fans erupted in joy when the judge’s ruling was handed down. Pop singer Cher tweeted, “I’m more than thrilled with her. Bless our super star.”

Jamie Spears had been in charge of his daughter’s business affairs since 2008, when he set up an extensive court-approved guardianship after she suffered a mental breakdown. Details of Britney Spears’ mental health have never been revealed.

Rosengart said he envisions an orderly transition in which tutelage could end before the end of the year. “It’s simple, it’s logical, it’s fair, it’s fair,” he told the judge.

Ironically, it was Jamie Spears who earlier in September overturned years of objections and abruptly called for an end to guardianship. But he argued he should stay in his role to ease the transition.

Rosengart, however, demanded that Jamie Spears be suspended immediately.

“According to Britney Spears her service has been abusive, toxic and cruel,” he said.

A New York Times documentary released last week alleged that the singer’s phone and bedroom were bugged by security personnel working for her father. Conversations with friends, her children and her former lawyer were monitored, a former security staff member said.

Jamie Spears has said his actions fall within his authority as a curator. “Mr. Spears has faithfully and loyally served as a court-appointed Curator for 13 years. His record is impeccable,” his lawyer Vivian Thoreen said Wednesday.

Spears stepped up her efforts in June to break free from guardianship, telling the judge in her first public comments that she wanted her life back.

Public support, aided by three documentaries, swelled.

Two weeks ago Britney Spears announced her engagement to Sam Asghari, 27, her boyfriend who has been a personal trainer for more than four years. The couple hope to marry after negotiating a prenuptial agreement.

“Free Britney! Congratulations !!!!” Asghari wrote on her Instagram account after the hearing.

Reporting by Lisa Richwine; Written by Jill Serjeant; Editing by Richard Chang, Cynthia Osterman and Leslie Adler

Source link

]]> 0
BOS Attacks Proposal For Tighter Control Of Gambling Ads | Legal Wed, 29 Sep 2021 13:26:34 +0000 The Swedish association of operators Branscheforenigen för Onlinespel (BOS) rejected the government’s proposal that gambling advertising should be subject to “special moderation”, saying the proposal should be “withdrawn”.

The proposal is part of a consultation announced in June by the Swedish finance ministry, which would amend the country’s 2018 gambling law.

The consultation proposes that gambling advertising be treated similarly to alcohol advertising in terms of restrictions.

BOS raised several objections, focusing primarily on the role of licensed operators, pipeline tariffs and the broader implications of advertising restrictions.

First, BOS argued for the importance of marketing to the Swedish licensing system, saying it plays a central role in directing players to regulated sites.

“The reason why it is important that gambling takes place in the designated license market is that only Swedish legislators and authorities control consumer protection,” said Gustaf Hoffstedt, general secretary of BOS, in a statement. communicated.

BOS also touched on the low pipeline rates, particularly how this may already have been affected by the government’s stance on online casinos.
The state aims for the pipeline in the Swedish gaming market to be at least 90% by January 1, 2022… the most recently estimated pipeline is 85% and therefore below the target of 90% ”, Hoffstedt continued.

BOS cannot come to any other conclusion than that the official results of government and public opinion against this form of gambling since the Swedish re-regulation in 2019 are reflected in the catastrophically weak pipeline of online casinos today. .

BOS also warned of low pipeline rates in its response to the gaming market survey, which was launched in November 2020.

However, BOS agreed that the marketing of games in 2018 and 2019, before the market was re-regulated, was “very extensive.” He highlighted the measures taken after that, when advertising was drastically reduced, and expressed that after a period of stabilization, the old “aggression” is no longer present in gambling advertising.

It does not seem clear what type of problem the government considers it needs to tackle. Said Hoffstedt.

In addition, BOS asked how entities related to gambling, such as journalism and sports, might suffer from a reduction in gambling advertising.

The Swedish people cannot intend to deny quality independent Swedish journalism such a decisive source of income, without offering financial compensation that fully covers the losses, ”continued Hoffstedt.

The same goes for the sports movement, which, thanks to sponsorship agreements, receives sums of millions of dollars from gaming companies, in some cases sums of several billion. “

Last week, the Swedish Gaming Inspectorate (Spelinspektionen) expressed support for the proposed advertising restriction.

BOS has opposed several attempts to further regulate gambling in Sweden. In July, the body said strict restrictions would promote illegal gambling in response to an investigation by Spelinspektionen.

In May, BOS claimed that the illegal gambling market would “welcome” news of the proposed deposit limit extension, which was put in place in response to the novel coronavirus (Covid-19) pandemic.

In April, the body rejected the idea that all gambling in Sweden would be managed through a state-run portal, which was proposed after a 2020 report from the country’s Equality Commission .

Source link

]]> 0
Investors with $ 4 trillion in Assets Aim to Tackle Asian Businesses on Climate Change Targets Wed, 29 Sep 2021 01:46:00 +0000 US dollar banknotes explode near the Andalusian capital of Seville in this illustrative photo taken on November 16, 2014. REUTERS / Marcelo Del Pozo / File Photo

MELBOURNE, Sept. 29 (Reuters) – A group of six investors with a total of $ 4 trillion in assets under management, including Fidelity International, on Wednesday said they intended to step up engagement with large Asian companies like banks and energy producers to ensure they have a roadmap for meeting climate change targets.

The initial engagement will focus on carbon and coal risk at banks and utilities exposed to coal, the investor group, facilitated by Singapore-based advisor Asia Research & Engagement (ARE), said in a statement.

The move comes as investors become more active in environmental, social and corporate governance (ESG), helping to shape companies’ climate commitments to better manage this risk for their clients. The ESG measures they have taken include supporting activist shareholder resolutions and voting on board members and compensation.

At the annual meeting of shareholders of Royal Dutch Shell (RDSa.L) in May, nearly a third of shareholders supported a resolution tabled by an activist group, but rejected by the board of directors, who want that the company sets short and medium-term goals. to reduce absolute emissions. Read more

The six investors are BMO Global Asset Management EMEA, Fidelity International, Dutch pension fund PGGM, UK-based Local Authority Pension Fund Forum (LAPFF), Aviva Investors and Legal & General Investment Management.

“Over the past year, we have seen encouraging developments in sustainability related business practices and policies, such as a series of net zero announcements,” said Mirza Baig, Global Head of ESG Investments at Aviva Investors, in the press release.

“In reality, there is still a glaring gap between where we are today and what is needed to ensure that the goals of the Paris Agreement (on climate change goals) are met,” he said. -he declares. “There is a huge opportunity for Asian businesses to take the lead in tackling the climate emergency. “

The group has already started engaging with companies such as Chinese power companies Huaneng (600011.SS) and Huadian (600027.SS). Huaneng and Huadian did not immediately respond to requests for comment.

The investor group will encourage companies such as banks to engage in concrete actions such as exiting the financing of the most carbon-intensive fossil fuels and stopping the financing of the expansion of fossil fuels and associated infrastructure.

The measures would also include encouraging Asian power companies to draw up plans to align their activities with the goals of the Paris Agreement.

Reporting by Melanie Burton in the Melbourne and China team; Editing by Kenneth Maxwell

Our Standards: Thomson Reuters Trust Principles.

Source link

]]> 0