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LONDON (AP) — The U.K. has stripped China’s state-owned TV channel of its broadcasting license, after an investigation found the license holder lacked editorial control and had links to China’s ruling Communist Party. The communications regulator, Ofcom, said Thursday it revoked the U.K. license for CGTN, an international English language satellite news channel. The watchdog said it gave CGTN “significant time” to comply but those efforts “have now been exhausted. CGTN didn’t reply to requests for for comment. The Chinese Foreign Ministry responded with renewed criticism of a recent BBC report on COVID-19 in China, calling ït “fake news” and demanding a public apology. read more
In another move to recapitalise domestic businesses hit by the coronavirus-triggered economic slump, Sweden’s second-largest pension fund has invested SEK114.5m (€10.8m) in a capital placement deal for brake-component maker Haldex.AMF, which manages SEK600bn of pension assets for blue-collar workers, announced it had provided the lion’s share of a new directed equity issue of around SEK157m, with its money buying a holding of just under 6.6% in the auto supplier – a new investment for AMF.Anders Oscarsson, head of equities at AMF, said: “In view of the fact that it is a challenging time for many companies, we are excited about the opportunity to become a major owner of a fine Swedish company such as Haldex.”As new owners of the company, he said AMF already had a strong commitment to the heavy vehicle sector, where as a subcontractor Haldex played an important role. “We look forward to being a long-term, constructive and active owner of the company,” Oscarsson said.Tomas Flodén, the pension fund’s chief investment officer, said that thanks to AMF’s strong financial position and the long-term nature of its traditional pensions management, the fund could invest in companies in need of capital to be able to get through the challenging economic situation.Haldex announced yesterday that it had agreed a financial package with its lenders, which included extending the maturity of a €90m syndicated credit facility and an SEK270m short-term loan to April 2022.That agreement also stipulated that the company be provided with new equity, it said.The other investor subscribing to the directed capital placement is AFA Försäkring.The new shares have been issued at SEK35.56 per share, which Haldex said corresponded to the volume-weighted average price of its share on Nasdaq Stockholm during the last five trading days prior to a resolution by the board at the end of 2019 to issue new shares.Today, the shares were trading at around SEK37.35, according to Nasdaq data.Haldex said in its announcement of the capital placement that it was deviating from the shareholders’ preferential rights in the new share issue because, “the situation following from COVID-19 has reinforced the need to carry out the capital raising in a time-efficient manner”.It said it intended to use the issue proceeds mainly to finance “continued value-creating investments in new technology”.AMF said in early April that it had earmarked up to SEK5bn as a first step in supporting the Nordic country’s commerce through the COVID-19 crisis.As part of that pledge, the pension fund has said it committed to a significant portion of Scandic Hotels’ SEK1.75bn equity issue at the end of last month.To read the digital edition of IPE’s latest magazine click here. read more
RelatedPosts Lampard: I still have confidence in Tomori Mane double eases Liverpool to win over 10-man Chelsea EPL: Chelsea, Liverpool in cagey duel Liverpool forward, Sadio Mane, has won the Premier League PFA Fans’ Player of the Year award for 2019-20.The 28-year-old enjoyed a fine campaign, scoring 18 goals and providing seven assists, making him the team’s second most productive player of the season behind Mohamed Salah. Mane won the award, voted for via a poll from fans across England, ahead of Manchester City star Kevin De Bruyne and Liverpool teammate Trent Alexander-Arnold, gaining 41 per cent of the vote.Virgil van Dijk, Raheem Sterling and Jamie Vardy were also nominated for the prestigious individual award, which was won by former Chelsea star Eden Hazard last year.Liverpool have unsurprisingly swept the individual prizes having romped to the title this term, ending a 30-year wait for a top-flight title in dominant fashion.Jurgen Klopp’s team amassed a club-record 99 points and finishing 18 clear of deposed champions Manchester City.Klopp won the Manager of the Year, Alexander-Arnold clinched the Young Player of the Season prize and Jordan Henderson was voted the Football Writers’ Association Men’s Footballer of the Year. Mane joined the Reds in 2016 from Southampton and has gone on to make 170 appearances in all competitions, scoring 81 goals to help them claim Champions League, UEFA Super Cup and Club World Cup before their Premier League success.He was the league’s joint-top scorer in 2018-19 alongside team-mate Mohamed Salah and Arsenal forward Pierre-Emerick Aubameyang.Mane earned special praise from coach Klopp recently, as the German hailed him as “world class”.“He is a complete player, offensively and defensively He works hard, he is really quick,” Klopp said. “For sure a few things we did from a tactical point of view helped the boys as well and Sadio is a good example for the improvement the whole squad.“He has obviously improved a lot in the last few years – and from a very high level already – becoming a very good player to a world-class player, no doubt about that, and he is a winner on top of that.” Tags: English Premier LeagueLiverpoolPremier League Fans’ Player AwardSadio Mane read more
Don’t miss out on the latest news and information. Britain’s Prince Harry and Meghan Markle to give up royal titles MOST READ Search on for 5 Indonesians snatched anew in Lahad Datu Filipinos turn Taal Volcano ash, plastic trash into bricks PLAY LIST 01:40Filipinos turn Taal Volcano ash, plastic trash into bricks01:32Taal Volcano watch: Island fissures steaming, lake water receding02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite Pencak silat gives PH 24th gold, 3 more bronzes LATEST STORIES Ervin Grospe and MJ Dela Virgen also tallied 11 points and three rebounds each in the conquest.Despite the win, coach Vergel Meneses still expressed dissatisfaction with how his wards played against the cellar-dwelling Cardinals.FEATURED STORIESSPORTSEnd of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legendSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’“A win is a win, but the way we played, I’m not happy about it,” he said. “They thought they can easily win against Mapua, but Mapua gave them a hard time.”JRU seemed like well on its way to an easy triumph after Ervin Grospe drilled a rare three-pointer to put his crew up, 64-45, midway in the payoff period. Britain’s Prince Harry and Meghan Markle to give up royal titles However, turnovers doomed the Heavy Bombers as Mapua cut the deficit down to just seven, 66-59, in the final minute, but Abdulwahab Abdulrazak scored on a huge putback in the dying seconds nail the win.“It’s a good thing that we converted after the three turnovers we had. But we’re not yet in the level of San Beda and Lyceum. I hope we can bring this winning run to the second round, but we can’t play like we did in the first round,” said Meneses.Abdulrazak also hauled down 21 rebounds to go with his five points in the game.Christian Buñag led Mapua with 15 points and 21 rebounds, while Laurenz Victoria had 12 markers and five boards in the loss, which was the Cardinals’ seventh straight defeat to finish the first round on a 1-8 card.The Scores:ADVERTISEMENT Police seize P68-M worth of ‘shabu’ in Pasay Sports Related Videospowered by AdSparcRead Next Hotdog’s Dennis Garcia dies Marcosian mode: Duterte threatens to arrest water execs ‘one night’ JRU 68 – Bordon 17, Mendoza 12, Grospe 11, Dela Virgen 11, Teodoro 7, Abdulrazak 5, Poutouochi 3, Mate 2, Sawat 0, David 0.MAPUA 59 – Buñag 15, Victoria 12, Gabo 8, Aguirre 8, Pelayo 6, Nieles 4, Raflores 4, Jimenez 2.Quarters: 19-16, 38-34, 49-42, 68-59. Aaron Bordon. Photo by Tristan Tamayo/ INQUIRER.netJose Rizal University gutted out a 68-59 victory over Mapua to finish the first round on a four-game tear Tuesday in the NCAA Season 93 men’s basketball tournament at Filoil Flying V Centre in San Juan.Aaron Bordon was the one to step up this time for the Heavy Bombers, unleashing a career-best 17 points and four rebounds, while Jed Mendoza got 12 markers, five boards, and two assists.ADVERTISEMENT For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. Bishop Baylon encourages faithful in Albay to help Taal evacuees Jake says relationship with Shaina ‘goes beyond physical attraction’ National Historical team rescues Amorsolos, artifacts from Taal View comments read more