Ex-Standard Chartered boss Lord Davies joins $78bn PineBridge

first_imgTuesday 7 September 2010 11:09 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.cominvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comTrendscatchersA Woman Brings A Lion Statue To Have It Appraised. But When The Assessor Sees Her He Almost ChokesTrendscatchers KCS-content whatsapp Share FORMER Standard Chartered head Lord Davies has taken his second non-executive job since leaving government by agreeing to chair New York-based asset manager PineBridge.Davies joined the firm last month. Although he will continue to work from the UK, the banking veteran will deploy his considerable contacts in the Far East to advise PineBridge on regulatory issues. The American group runs more than $78bn (£50.1bn) of assets, 65 per cent of which are located outside the US.The 57-year-old Welshman also sits on the board of buyout firm Corsair Capital. The Corsair job marked his return to the world of finance after 16 months as former Prime Minister Gordon Brown’s trade minister. He was previously chief executive, then chairman of Standard Chartered. Show Comments ▼center_img whatsapp Ex-Standard Chartered boss Lord Davies joins $78bn PineBridge More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com Tags: NULLlast_img read more

Diamond: We have to stop saying sorry

first_imgTuesday 11 January 2011 8:32 pm Diamond: We have to stop saying sorry whatsapp BARCLAYS boss Bob Diamond came out fighting at a high-profile public hearing yesterday, insisting it was time for banks to stop apologising for the financial crisis. Appearing before an influential group of MPs, Diamond said “the period of remorse and apology” that followed the banking meltdown needed to end. “The biggest issue is ‘How do we put some of the blame game behind us?’ There’s been apologies and remorse – now we need to build some confidence,” he said during a session with the Treasury select committee. Diamond also batted away demands that he waive his bonus for the third year in a row, adding that any decision on whether or not to accept a payout – believed to be between £6m and £10m – would be made with his family.The two-and-a-half hour session was at times fiery, with several MPs using their questions to attack Diamond’s character and the reputation of Barclays.However, Diamond struck a defiant tone, insisting he was proud of his record at Barclays Capital. He also defended Barclays’ attempt to buy ABN Amro in 2007, explaining that the all-stock offer was completely different from the disastrous cash deal which was eventually done by RBS. Diamond said he did not expect Barclays to quit the UK but that he couldn’t give “cast iron guarantees”.Bob Diamond on…TAXPAYER BAILOUTSBanks should never again be bailed out by the taxpayer. There should be resolution and recovery plans – also known as “living wills” – which would allow a bank to fail without hurting the wider economy. Barclays is proud that it didn’t accept a “penny of taxpayers’ money” during the crisis. TAX AVOIDANCEBarclays paid £2bn in tax last year to HMRC and has paid £12.5bn over the last six years. It does help its clients to reduce their tax bills, because it has an obligation to serve them in the most tax efficient way. QUITTING THE UKBarclays has no intention of leaving the UK, although it can’t offer any cast-iron guarantees on whether it will stay in London. SPENDING CUTSThe Prime Minister and chancellor are right to cut public spending to reduce the deficit. It is time to “pass the mantle of growth to the private sector and to the banks”.UNIVERSAL BANKING MODELBarclays is financially stronger because it is a universal bank. The failures at HBOS had nothing to do with prop trading and everything to do with “vanilla” banking – lending to individuals and businesses. Higher profits in investment banking have helped Barclays offset writedowns in retail and corporate. If this diversification existed in the Irish banks, they wouldn’t be so troubled. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tags: NULL Share Show Comments ▼ KCS-content whatsapplast_img read more

Why I think Amazon is the best US share for UK investors to buy right now

first_imgWhy I think Amazon is the best US share for UK investors to buy right now Enter Your Email Address Matthew Dumigan | Thursday, 23rd July, 2020 | More on: AMZN Global stocks have risen sharply in the aftermath of the major equities sell-off. None more so than the tech titans listed in the NASDAQ 100. The tech-heavy index smashed its all-time high back in early June and has been climbing steadily since. One company that has spearheaded the charge upwards is Amazon  (NASDAQ: AMZN), whose shares are now up 65% since the beginning of 2020.Meteoric share price gains in the US stock marketSince flotation in 1997, the Amazon share price has grown by an annualised rate of approximately 33% per year. Over the last five years alone, the company’s valuation has rocketed by 492%!5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Compared to the gains made by blue-chips listed in the FTSE 100, Amazon’s blows them out of the water. What’s more, it isn’t the only US firm that has grown exponentially over recent years. Think of other companies such as Tesla, Apple, Microsoft, and Alphabet.The exceptional performance of these US-listed companies illustrates why UK investors would do well to get in on the action. After all, US firms account for over half of the global stock market. Consequently, it would be foolish to ignore the multitude of well-established businesses that dominate their respective sectors. Additionally, investing in US shares helps diversify your holdings away from a heavy reliance on UK-based companies.Amazon’s market dominanceSpeaking of dominating industries, Amazon is perhaps the perfect example. A truly global company, it has successfully cemented itself in each of the business areas it operates in. Its diverse revenue streams are unmatched among international large-caps and opportunities for further growth abound.With Amazon’s much anticipated second quarter earnings release imminent, investors are watching closely. Although if first-quarter results are anything to go by, I expect it to be an equally positive update, given the wider circumstances. Thus far, Amazon has navigated through the period of the pandemic relatively well. Net sales and operating cash flow increased by 26% and 16% respectively, while net income decreased by $1.1bn compared to the first quarter of 2019.The best US share for UK investors to buy nowAmazon shares now trade at around $3,138, which is far more than any stock listed on the London Stock Exchange. However, thanks to the development of fractional shares, it’s possible for investors to buy a portion of the stock for less. This means there’s no need to miss out if you only intend to invest a small amount.Looking to traditional valuation metrics isn’t really useful when it comes to evaluating companies like Amazon. This is largely due to the way the technology sector functions. So, when you hear of Amazon’s P/E ratio being above the 150 mark, I wouldn’t worry too much, especially given that eight years ago, it was a staggering 3,633. So long as you’re in it for the long haul, I reckon Amazon shares offer great value, even at today’s price.Ultimately, I expect the company to continue pressing on with earnings growth as operations continue to expand. Given the underlying business’s outstanding performance and exciting e-commerce and cloud computing opportunities, I think Amazon is the best US share for UK investors to buy right now. Moreover, with some analysts expecting the shares to climb to $3,800 within 12 months, now could be the perfect time to buy in. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Matthew Dumigan has no position in any of the shares mentioned. The Motley Fool UK owns shares of and has recommended Amazon, Apple, Microsoft, and Tesla and recommends the following options: long January 2021 $85 calls on Microsoft, short January 2021 $115 calls on Microsoft, short January 2022 $1940 calls on Amazon, and long January 2022 $1920 calls on Amazon. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Image source: Getty Images Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Sharescenter_img “This Stock Could Be Like Buying Amazon in 1997” Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. See all posts by Matthew Dumigan I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Simply click below to discover how you can take advantage of this. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.last_img read more

The UK shares I’d buy to generate a passive income

first_img Enter Your Email Address The high-calibre small-cap stock flying under the City’s radar I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Rupert Hargreaves | Friday, 18th December, 2020 I think it’s possible to generate a passive income with UK shares. Today, I’m going to take a look at a selection of the investments I’d buy to accomplish this aim. Passive income There are two qualities I think all income shares should have. These are an attractive level of dividend income and high dividend cover. There are a few companies that meet both of these criteria, but not as many as you’d think. Having both a high yield and high dividend cover is quite rare among UK shares. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…However, Imperial Brands and British American Tobacco meet both of these standards. These FTSE 100 stocks offer a dividend yield of around 7%, and the payout is covered at least 1.5 times by earnings per share.What’s more, according to my analysis, based on these companies’ cash generation, I think they can afford to increase their dividends steadily in the years ahead. That could be great news for passive income seekers. Bank of Georgia is another option that has both qualities of a high yield and high dividend cover. After reducing the distribution in 2019 and 2020 due to coronavirus, analysts are forecasting a resumption in 2021. They’re predicting a dividend yield of 5.5%.All current projections suggest dividend cover will sit in the region of 3.5. This is extremely impressive for a company that’s reported earnings growth of around 10% per annum for the past six years. For investors looking for a corporation that can provide both income and capital growth, it might be worth taking a closer look at the Bank of Georgia.Hipgnosis Songs Fund is not your traditional company. This investment fund buys music royalty rights, which enables it to earn a passive income every time one of the tracks is streamed or purchased. Over the past few years, management has acquired a broad portfolio of rights, encompassing musicians from all genres. The resulting income is funding the group’s 4.1% dividend yield.EPS cover the payout 2.8 times. So, it looks to me as if the business has plenty of funding to both increase the payout further and reinvest funds back into acquiring additional assets. Rising earnings Trading UK shares can be a lucrative business. Plus500 has profited significantly this year due to increased trading levels in the pandemic. Management is now returning some of the additional capital earned to investors. City analysts are forecasting a dividend yield of at least 7% this year, falling to around 4.4% in 2021.And that’s not all. In the past, Plus500 has redistributed excess capital to investors with share buybacks and special dividends. In fact, over the past five years, the stock has yielded an average of 12% per annum. Based on this track record, I think it’s worth considering the business for a passive income portfolio of UK shares. Agriculture group Carr’s is my final pick. This business offers investors a dividend yield of around 4% with a dividend cover of 2.5. The company sells animal feed and feed blocks, among other things, which I reckon gives it a highly defensive nature. That could be a massive advantage for the business at a time when the economy is shrouded in uncertainty. Rupert Hargreaves owns shares in Imperial Brands and British American Tobacco. The Motley Fool UK has recommended Imperial Brands. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.center_img See all posts by Rupert Hargreaves Click here to claim your copy of this special investment report — and we’ll tell you the name of this Top Small-Cap Stock… free of charge! Our 6 ‘Best Buys Now’ Shares Adventurous investors like you won’t want to miss out on what could be a truly astonishing opportunity…You see, over the past three years, this AIM-listed company has been quietly powering ahead… rewarding its shareholders with generous share price growth thanks to a carefully orchestrated ‘buy and build’ strategy.And with a first-class management team at the helm, a proven, well-executed business model, plus market-leading positions in high-margin, niche products… our analysts believe there’s still plenty more potential growth in the pipeline.Here’s your chance to discover exactly what has got our Motley Fool UK investment team all hot-under-the-collar about this tiny £350+ million enterprise… inside a specially prepared free investment report.But here’s the really exciting part… right now, we believe many UK investors have quite simply never heard of this company before! Simply click below to discover how you can take advantage of this. The UK shares I’d buy to generate a passive incomelast_img read more

Rural King Stores Open and Serving Farmers

first_img SHARE Rural King Stores Open and Serving Farmers Facebook Twitter SHARE Facebook Twitter Rural King Stores Open and Serving FarmersThe COVID-19 Pandemic is having an impact on Indiana’s farm supply chain. Rural King stores are one of the major suppliers to farmers and rural communities, and CEO Alex Melvin says the stores are open.“We are going to stay open. We are going to be there for farmers, for their livestock, and to help them get this crop planted for 2020.”Agriculture has been designated as an essential industry by the Department of Homeland Security and, thus, can continue to operate.Melvin says they are taking steps to keep both their employees and customers safe during the virus outbreak such as, “We are cleaning every hour on the hour. We are wiping down our shopping carts with bleach and water every hour.”He told HAT it has been a challenge to keep up with the demand for certain items like, “Cleaning supplies and toilet paper for sure and chickens. Most of our stores are out of baby chicks, but we are going to restock.”He added chick starter feed has also been hard to keep in stock.Unlike some urban stores, Rural King is keeping the shelves stocked.“We are working hard to keep stores stocked. Just today, we shipped out 150 trucks to our 120 stores,” Melvin said. He added that Rural King has their own fleet of trucks and warehouses, and, “We are restocking hard.”He added that rumors on social media have circulated that the stores are closed but that is not the case.Find your local Rural King location here. Previous articleGet Wheels in Motion for Delivery of Spring Crop Inputs NowNext articleGet Wheels in Motion Now for Input Deliveries and Rural King Open for Business on the HAT Thursday Morning Edition Gary Truitt Home Indiana Agriculture News Rural King Stores Open and Serving Farmers By Gary Truitt – Mar 25, 2020 last_img read more

Businesses who breach social distancing rules could be closed down

first_img Google+ RELATED ARTICLESMORE FROM AUTHOR Important message for people attending LUH’s INR clinic Previous articleDonegal TD calls on Revenue to defer increase in Carbon TaxNext article‘Worrying trends’ emerge from Donegal Garda checkpoints News Highland WhatsApp WhatsApp Businesses who breach social distancing rules could be closed down under new plans being considered by the Government. Inspections will be carried out by the Health and Safety Authority.Guidelines on how businesses can implement social distancing are being finalised.CEO of the Restaurants Association Adrian Cummins says the regulations must be practical for businesses:Audio Playerhttps://www.highlandradio.com/wp-content/uploads/2020/05/11cummins-virus-workplace-clips-kor-.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Facebook Loganair’s new Derry – Liverpool air service takes off from CODA Twitter Facebook Nine til Noon Show – Listen back to Monday’s Programme center_img Pinterest Twitter By News Highland – May 1, 2020 Businesses who breach social distancing rules could be closed down Pinterest Publicans in Republic watching closely as North reopens further Google+ AudioHomepage BannerNews Community Enhancement Programme open for applications Arranmore progress and potential flagged as population grows last_img read more

Bush Memorial offers ‘Walk Through Bible’

first_imgLatest Stories Published 8:19 pm Wednesday, January 7, 2009 Print Article Plans underway for historic Pike County celebration Ward said the seminar is conducted in such a way that both young people and adults will enjoy and benefit from being in the seminar together.There is a fee of $20 for adults and $10 for children for the “Walk Through the Bible” seminar. However, there is a cap on the fee of $50. No family will pay more than $50 regardless of the number of members. Bush Memorial Baptist Church in Troy will host a one-day seminar titled “A Walk Through the Bible” on Saturday, Jan. 10. The seminar is open to all who want to know more about the Old TestamentReid Ward, minister of education and discipleship, said the seminar is a unique opportunity to hear the entire story of the Old Testament told in one day.“A Walk Through the Bible” will include five one-hour sessions. Email the author Around the WebMd: Do This Immediately if You Have Acid Reflux (Watch Now)Healthy LifestyleIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthRemember Them? I’m Sure Their New Net Worth Will Leave You SpeechlessbradofoThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel Book Nook to reopen “A Walk Through the Bible is conducted by a national organization and takes participants through the Old Testament in an interesting way using learning techniques that allow participants to remember facts and stories,” Ward said. “We read the Bible and study the Bible but often forget the details and facts of the stories. This seminar will help us to remember the people, places and events and make the Bible come even more alive to us.”The seminar is for all ages beginning with kindergarten age.“We will be divided into two groups, kindergarten through fifth grade and sixth grade and up,” Ward said. “The thought is that young people sixth grade and up will not be interested in the activities planned for the younger children.” Sponsored Content Remember America’s heroes on Memorial Day Troy falls to No. 13 Clemson By Jaine Treadwell By The Penny Hoarder Bush Memorial offers ‘Walk Through Bible’ The Penny Hoarder Issues “Urgent” Alert: 6 Companies… Those who pre-register for the seminar will be served lunch. Those who do not will have lunch on their own. To pre-register for the seminar, call 566-4141 by noon on Friday. Walkup registrations will be accepted on the day of the seminar.Ward said if participation in the Old Testament seminar is good, plans are to offer a seminar on the New Testament in the near future. Pike County Sheriff’s Office offering community child ID kits You Might Like Streeter sentenced for murder A Pike County man has been sentenced to life without parole after he was convicted of murder late last year…. read more Skiplast_img read more

Inferred support for disturbance-recovery hypothesis of North Atlantic phytoplankton blooms

first_imgAnalyses of satellite-derived chlorophyll data indicate that the phase of rapid phytoplankton population growth in the North Atlantic (the ‘spring bloom’) is actually initiated in the winter rather than the spring, contradicting Sverdrup’s Critical Depth Hypothesis. An alternative disturbance-recovery hypothesis (DRH) has been proposed to explain this discrepancy, in which the rapid deepening of the mixed layer reduces zooplankton grazing rates sufficiently to initiate the bloom. We use Bayesian parameter inference on a simple Nutrient-Phytoplankton-Zooplankton (NPZ) to investigate the DRH and also investigate how well the model can capture the multiyear and spatial dynamics of phytoplankton concentrations and population growth rates. Every parameter in our NPZ model was inferred as a probability distribution given empirical constraints, this provides a more objective method to identify a model parameterisation given available empirical evidence, rather than fixing or tuning individual parameter values. Our model explains around 75% of variation in the seasonal dynamics of phytoplankton concentrations, 30% of variation in their population rates of change, and correctly predicts the phases of population growth and decline. Our parameter-inferred model supports DRH, revealing the sustained reduction of grazing due to mixed layer deepening as the driving mechanism behind bloom initiation, with the relaxation of nutrient limitation being another contributory mechanism. Our results also show that the continuation of the bloom is caused in part by the maintenance of phytoplankton concentrations below a level that can support positive zooplankton population growth. Our approach could be employed to formally assess alternative hypotheses for bloom formationlast_img read more

Ehlinger leads Texas’ Alamo Bowl romp over No. 12 Utah 38-10

first_img Tags: Alamo Bowl/Sam Ehlinger/Texas Longhorns/Utah Utes Football Associated Press December 31, 2019 /Sports News – Local Ehlinger leads Texas’ Alamo Bowl romp over No. 12 Utah 38-10 FacebookTwitterLinkedInEmailSam Ehlinger passed for three touchdowns and ran for another as Texas rolled over No. 12 Utah in the Alamo Bowl 38-10.The Longhorns excised the frustrations of a disappointing regular season with a dominant win over a Utes team that just missed a chance at the College Football Playoff.The Longhorns ran for 231 yards against the nation’s No. 1 rush defense.Texas coach Tom Herman improved to 4-0 in his career in bowl games. His three wins at Texas came with the Longhorns the underdog each time. Written bylast_img read more

Magnolia LNG developers request five more years to complete facilities in US

first_img Glenfarne recently acquired Magnolia LNG its newly formed subsidiary Magnolia LNG. (Credit: LEEROY Agency from Pixabay) Kinder Morgan and US-based Glenfarne Group have requested the US Federal Energy Regulatory Commission to extend the timeline to complete the $4.6bn Magnolia LNG export and associated gas pipeline expansions.Recently, Glenfarne Group acquired Magnolia LNG through Glenfarne’s newly formed subsidiary Magnolia LNG.Magnolia LNG is an eight million tonnes per annum (mtpa) LNG export terminal project in Louisiana, US.The project has permission to receive natural gas from the existing Kinder Morgan Louisiana Pipeline (KMLP) and will pretreat, liquefy and store the LNG onsite for export and domestic purpose.The project has already secured Federal Energy Regulatory Commission (FERC) approval in 2016.The project was initially planned to be completed in five years by April 2021As per the approval, the companies are required to complete the project within five years by April 2021, according to offshore-energy.biz.However, Magnolia LNG and Kinder Morgan Louisiana Pipeline are now seeking additional five years to commission their respective facilities.Glenfarne was reported by Reuters as saying in a statement: “Unforeseeable developments in the global LNG market have affected Magnolia LNG’s ability to enter into long-term LNG offtake contracts … critical to securing project financing and achieving (final investment decision).”The unforeseeable developments include disruptions caused by the trade war between US and China and the plunging global energy demand due to lockdowns imposed to contain the Covid-19, according to the news agency.Initial approval for the export of 4mtpa of LNG from the project to free trade agreement (FTA) countries was granted by the Department of Energy (DOE) in February 2013 and approval for an additional 4mtpa of LNG exports to FTA countries was approved by the DOE in March 2014. Magnolia LNG is an eight million tonnes per annum (mtpa) LNG export terminal project in Louisiana, US last_img read more