Total Wealth – Free Bassuk.com http://freebassuk.com/ Sun, 19 Sep 2021 01:26:36 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://freebassuk.com/wp-content/uploads/2021/07/icon.png Total Wealth – Free Bassuk.com http://freebassuk.com/ 32 32 Stop complaining and change your mindset to get rich http://freebassuk.com/stop-complaining-and-change-your-mindset-to-get-rich/ http://freebassuk.com/stop-complaining-and-change-your-mindset-to-get-rich/#respond Sat, 18 Sep 2021 20:30:00 +0000 http://freebassuk.com/stop-complaining-and-change-your-mindset-to-get-rich/ Opinions expressed by Contractor the contributors are theirs. I remember hearing a story like a child called the The farmer’s donkey. One day, a farmer’s donkey fell into an abandoned well. The farmer, in love with his faithful animal, tried and tried to find a way to raise the donkey from the well. In tears, […]]]>

Opinions expressed by Contractor the contributors are theirs.

I remember hearing a story like a child called the The farmer’s donkey. One day, a farmer’s donkey fell into an abandoned well. The farmer, in love with his faithful animal, tried and tried to find a way to raise the donkey from the well. In tears, he decided the animal was impossible to retrieve and that the well had to be slaughtered before other animals slipped into the hole as well. He asked his neighbors to help him, and when the men grabbed shovels and started throwing dirt into the well, the donkey realized he had to run away. As more and more shoveled dirt landed on the donkey’s back, he shook it and took a step forward. The farmer, realizing the plan of the donkey, encouraged the men to continue throwing earth into the hole above the animal. Each time the donkey would shake him and take another step forward. Finally, the donkey crossed the edge of the well and trotted towards the grateful farmer.

Each person controls their future

Blaming someone or something for their situation is common in our society, perhaps because we are continually faced with circumstances that we cannot control.

The consequences of being a victim are heavy – desperation, anger, frustration, stress and depression – and self-inflicted. But you don’t have to cede control of your life to your situation. Helen Keller overcame the limitations of being blind, deaf and mute. Stephen Hawking became the world’s most famous physicist despite having amyotrophic lateral sclerosis at the age of 21. Oprah Winfrey’s childhood in a broken home didn’t stop her from becoming one of the first African-American billionaires. Each person has the power and ability to take control of their destiny and to achieve their dreams successfully.

The path to wealth

If wealth is your goal, complaining won’t increase your bank account. Attitude, associations, and action are the ingredients needed to build meaningful net worth and are accessible to anyone, regardless of their beginnings or current circumstances. People who start with little benefit can achieve great prosperity.

Rafael Badziag and Jack Canfield interviewed self-made billionaires around the world to discover the secrets of their success. Some have credited a willingness to take smart risks. Some have credited the spirit of self-determination with “If it has to be, it depends on me”. Others have credited relentless self-improvement, ignoring naysayers and embracing an appetite for hard work.

Related: 5 Financial Habits You Must Adopt Today To Build Your Wealth

Associations

People tend to conform to common behaviors around them, even if they personally disagree with the behavior. They justify their conformity by rationalizing it; if everyone chooses to do one thing, it’s probably a good thing to do. A group of victims and complainants feed off each other. T. Harvey Eker, a self-made millionaire, notes that “Like attracts like. When you complain, you are actually bringing ‘nonsense’ into your life.” In other words, get rid of the bitchers, excuses, and discontent and add inspiring and teaching people to your life. Stay positive and immerse yourself with like-minded thinkers. If you go there first, there’s a much better chance you’ll go in real life as well.

Related: 3 Simple Words That Will Help You Build Wealth

action

Newton’s first law of motion states that “an object at rest remains at rest unless it is subjected to it by force.” In other words, changing your situation requires an infusion of personal energy, also known as work.

If wealth is your goal, your tasks include:

  • Selecting a profession with the greatest exposure to financial success. Wall Street, finance, and entrepreneurship are popular destinations for making big money.
  • Develop the skills necessary to excel in the profession. In addition to the required diplomas (BBA or MBA), it is valuable to know the path and relationships of the money that circulates in a company. Understanding and managing risk is essential, as is knowledge of human behavior.
  • Identify the right mentors and associates. Successful people never stop learning or asking for information. Relying on the experience of another is a map of your progress and a source of potential shortcuts.
  • Work your tail. Winning the financial competition requires total dedication to achieve the goal, often involving long hours, weekend work, and the personal sacrifice of other activities. Remember that many are called to wealth, but few are chosen.

Being the captain of your ship, whether it sails to the golden city of El Dorado or the paradise of Shangri-La, is a powerful motive for rejecting limitations imposed by friends or society. Anyone can rise above their own situation: a poor man can get rich, an educated fool, or a woman elected President of the United States. Our future is determined by the choices we make, so make the right ones.

Related: 5 Long-Term Strategies To Build Wealth


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HBT (HBT) drops 5.22% on strong volume September 17th http://freebassuk.com/hbt-hbt-drops-5-22-on-strong-volume-september-17th/ http://freebassuk.com/hbt-hbt-drops-5-22-on-strong-volume-september-17th/#respond Sat, 18 Sep 2021 01:40:00 +0000 http://freebassuk.com/hbt-hbt-drops-5-22-on-strong-volume-september-17th/ Last prize $ Last trade Switch $ Percentage of change % Open $ Previous Close $ High $ moo $ 52 weeks high $ 52 weeks low $ Market capitalization P / E ratio Volume To exchange HBT – Market data and news To exchange Today, stock of HBT Financial Inc (NASDAQ: HBT) fell $ […]]]>

Today, stock of HBT Financial Inc (NASDAQ: HBT) fell $ 0.79, a decline of 5.22%. HBT opened at $ 15.22 before trading between $ 15.27 and $ 14.29 throughout Friday’s session. The activity saw HBT’s market cap drop to $ 392,295,335 on 223,126 stocks, above their 30-day average of 14,967.

About HBT Financière Inc

HBT Financial, Inc. is headquartered in Bloomington, Illinois, and is the holding company of Heartland Bank and Trust Company. The bank offers a full line of commercial, commercial, wealth management and retail banking products and services to individuals, businesses and municipal entities in central and northeastern Illinois through 63 branches. As of December 31, 2020, HBT had total assets of $ 3.7 billion, total loans of $ 2.2 billion, and total deposits of $ 3.1 billion. HBT is a long-standing, central Illinois company with banking roots dating back 100 years.

Visit the HBT Financial Inc profile for more information.

About the Nasdaq Stock Market

The Nasdaq Stock Market is a global leader in trading data and services, as well as the listing of stocks and options. The Nasdaq is the world’s largest stock exchange for options volume and is home to the five largest US companies – Apple, Microsoft, Amazon, Alphabet and Facebook.

To get more information about HBT Financial Inc and keep up with the latest company updates, you can visit the Company Profile page here: HBT Financial Inc. Profile For More Financial Markets Information , be sure to visit Equities News. Also, don’t forget to sign up for the Daily Fix to get the best stories delivered to your inbox 5 days a week.

Sources: The chart is provided by TradingView based on 15 minute lag prices. All other data is provided by IEX Cloud as of 8:05 p.m. ET on the day of publication.

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The views and opinions expressed in this article are those of the authors and do not represent the views of equities.com. Readers should not take the author’s statements as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please visit: http://www.equities.com/disclaimer


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Bluerock Total Income + Real Estate Fund announces 35th consecutive quarterly distribution at 5.25% annualized rate http://freebassuk.com/bluerock-total-income-real-estate-fund-announces-35th-consecutive-quarterly-distribution-at-5-25-annualized-rate/ http://freebassuk.com/bluerock-total-income-real-estate-fund-announces-35th-consecutive-quarterly-distribution-at-5-25-annualized-rate/#respond Fri, 17 Sep 2021 20:30:00 +0000 http://freebassuk.com/bluerock-total-income-real-estate-fund-announces-35th-consecutive-quarterly-distribution-at-5-25-annualized-rate/ NEW YORK, September 17, 2021 / PRNewswire / – Bluerock Total Income + Real Estate Fund (“TI +”, tickers: TIPRX, TIPPX, TIPWX, TIPLX) ​​paid a third quarter distribution of $ 0.4199 per share, i.e. 1.31% for the quarter, based on the share price of $ 31.99 (A shares) for shareholders registered in the September 16, […]]]>

NEW YORK, September 17, 2021 / PRNewswire / – Bluerock Total Income + Real Estate Fund (“TI +”, tickers: TIPRX, TIPPX, TIPWX, TIPLX) ​​paid a third quarter distribution of $ 0.4199 per share, i.e. 1.31% for the quarter, based on the share price of $ 31.99 (A shares) for shareholders registered in the September 16, 2021. This distribution amount represents an annualized rate of 5.25% * based on the current share price, marking the Fund’s 35th consecutive quarterly distribution. Since its creation in 2012, TIPRX has paid approximately 13 $ per share in total distributions to its shareholders. In addition to these quarterly distributions, TIPRX NAV increased by approximately 28% compared to 25 $ after $ 32 per share (as of 9.16.2021) and has generated an annualized return of 7.92% since inception. As a result of this growth, shareholders who originally purchased a NAV of 25 $/ share will receive a distribution amount at an annual rate of approximately 6.7% based on the amount of their investment.

“In the current era of continued low interest rates where investors are concerned about low yields and the potential loss of capital due to rising rates, TI + has provided over its 9-year history with income. consistent and highly tax-efficient, while significantly preserving net asset value. In addition to the constant 5.25% payout rate, the Fund has generated more than 265 basis points of annual appreciation since its inception, thus meeting the common concerns and objectives of investors for attractive income, tax efficiency. , growth, hedging against inflation and lower volatility and drawdown, ”said Jeffrey Schwaber, CEO of Bluerock Capital Markets. “In addition, we are also proud to report that the Fund has generated a total return of approximately 15% since the end. September 20201 (representing the Covid-led dip) supporting the Fund’s bullish outlook for institutional real estate, particularly in our most convinced and weighted sectors, namely industrial, multi-family and specialty sectors, including life sciences, which have seen substantial year-over-year rent increases to provide both growth and inflation protection, ”Schwaber added.

Since its inception, TI + has achieved its stated goals including current income and capital appreciation as well as low correlation and low volatility to broader markets.

Net assets under management for TI + are approximately $ 3.0 billion from September 16, 2021. TI + currently holds positions in 25 private equity investments and 2 real estate investments in private debt, with underlying assets valued at approximately $ 239 billion (holdings are subject to change at any time and should not be construed as investment advice).2

1 Source: Morningstar Direct, 9.24.2020-8.31.2021

2 For detailed Fund holdings, please visit http://bluerockfunds.com/investment-holdings/

TI + A Share Fund Net performance


Performances until 30.30.2021

Performances until 03.31.2021


One year

Five years

Annualized since creation3

YTD

Since inception3

TI + Fund category A

8.43%

6.43%

7.47%

11.74%

7.89%

TI + Class A4 with sales costs max.

2.19%

5.18%

6.74%

5.33%

7.17%

The returns shown are total net returns: expressed as a percentage, the calculation of the total return is determined by taking the price change, reinvesting, if applicable, all distributions of income and capital gains during the period and by dividing by the starting price. Returns greater than one year are annualized.

3 The date of creation of the Fund is October 22, 2012.

4 The maximum sales charge for Class A shares is 5.75%. Investors may benefit from an exemption or reduction in subscription fees.

The performance data cited here represents past performance. Actual performance may be lower or higher than the performance data cited above. The return on investments and the value of capital fluctuate, so shares, when redeemed, may be worth more or less than their original cost. For information on performance at the end of the most recent month, please call toll-free 1-888-459-1059. Past performance is no guarantee of future results.

The fund’s total annual operating expense ratio, gross of any fee waivers or reimbursement of fees, is 2.18% for Class A, 2.93% for Class C, 1.93% for category I and 2.42% for category L. The investment advisor of the Fund has contractually agreed to reduce its fees and / or absorb the expenses of the fund, at least up to January 31, 2022 for class A, C, I and L shares, to ensure that the annual net operating expenses of the fund will not exceed 1.95% for class A, 2.70% for class C and 1, 70% for Class I, and 2.20% for Class L, per annum of the average daily net assets of the Fund attributable to Class A, Class C, Class I and Class L shares, respectively, under reserve for possible recovery by the Fund in future years. Please see the Fund’s Prospectus for more details on the fee waiver. A fund’s performance, especially over very short periods of time, shouldn’t be the only factor in your investment decisions. The fund’s performance and distributions are shown net of fees.

The Bluerock Total Income + Real Estate Fund is a closed-range fund that invests the majority of its assets in institutional private equity real estate securities which are generally only available to institutional investors able to meet the multi-million minimum investment criteria. of dollars. In Q2 2021, the value of the underlying real estate held by the securities in which the Fund is invested is approximately $ 239 billion, including investments managed by Ares, Blackstone, Morgan Stanley, Principal, Prudential, Clarion Partners, Invesco and RREEF, among others. The minimum investment in the Fund is $ 2,500 ($ 1,000 for pension plans) for Class A, C and L shares.

For copies of documents filed by TI + public companies, please visit the United States Securities and Exchange Commission website at www.sec.gov or the Company’s website at www.bluerockfunds.com.

About Bluerock Total Income + Real Estate Fund

The Bluerock Total Income + Real Estate Fund offers retail investors access to a portfolio of institutional real estate securities managed by leading fund managers. The Fund seeks to offer a comprehensive real estate portfolio designed to offer a combination of current income, capital preservation, long-term capital appreciation and enhanced portfolio diversification with low to moderate volatility and low correlation to the markets. broader stocks and fixed income securities. The Fund uses an exclusive partnership with Mercer Investment Management, Inc., the world’s leading advisor to endowments, pension funds, sovereign wealth funds and family offices worldwide, with more than 3,300 clients worldwide and over $ 15.0 trillion in assets in consulting.

Investing in the Bluerock Total Income + Real Estate Fund involves risks, including loss of capital. The Fund intends to make investments in several real estate securities which may subject the Fund to additional fees and expenses, including management and performance fees, which could adversely affect returns and could expose the Fund to risk. additional, including lack of control, as further described in the prospectus.

* The Fund’s distribution policy is to make quarterly distributions to shareholders. The level of quarterly distributions (including any return of capital) is not fixed and this distribution policy is subject to change. Shareholders should not assume that the source of a distribution from the Fund is net income. All or part of the distributions is a return of capital based on the nature of the distributions received from the underlying interests, primarily real estate investment trusts. The final determination of the source and tax characteristics of all distributions will be made after the end of each year. Shareholders should note that the return of capital will reduce the tax base of their shares and potentially increase the taxable gain, if any, on the disposition of their shares. There can be no assurance that the Company will continue to make distributions or that they will continue at these rates. There can be no assurance that an investment will be effective in achieving the Fund’s investment objectives, generating positive returns or avoiding losses.

Limited liquidity is provided to shareholders only through the Fund’s quarterly repurchase offers for no less than 5% of the outstanding Fund shares at net asset value. There can be no assurance that shareholders will be able to sell all of the shares they wish in a quarterly tender offer. Quarterly redemptions by the Fund of its shares will generally be funded from available cash or sales of portfolio securities. Selling securities to fund redemptions could reduce the market price of those securities, which in turn would reduce the net asset value of the Fund.

Investors should carefully consider the investment objectives, risks, fees and expenses of the Bluerock Total Income + Real Estate Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained online at bluerockfunds.com. The prospectus should be read carefully before investing.

The Bluerock Total Income + Real Estate Fund is distributed by ALPS Distributors, Inc (ALPS). Bluerock Fund Advisor, LLC is not affiliated with ALPS.

SOURCE Bluerock Total Income + Real Estate Fund


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Sidma SA Steel Products: T2 2021 – Announcement http://freebassuk.com/sidma-sa-steel-products-t2-2021-announcement/ http://freebassuk.com/sidma-sa-steel-products-t2-2021-announcement/#respond Fri, 17 Sep 2021 06:12:05 +0000 http://freebassuk.com/sidma-sa-steel-products-t2-2021-announcement/ The first half of 2021, combined with the recovery of the global economy from the COVID-19 pandemic, saw the steel industry register strong growth accompanied by a rising market for most goods, with prices of steel in the world at their highest levels over time. The growing demand is that which has led to high […]]]>

The first half of 2021, combined with the recovery of the global economy from the COVID-19 pandemic, saw the steel industry register strong growth accompanied by a rising market for most goods, with prices of steel in the world at their highest levels over time. The growing demand is that which has led to high prices for iron ore, an essential component of the steel industry, leading to an increase in the prices of products marketed by the Group.

In this context, SIDMA STEEL recorded strong growth rates in the first half of 2021, both at group level and at company level, showing profitable results.

More specifically, in the first half of the year, consolidated sales of SIDMA STEEL Group amounted to 106.5 million euros, 73.8% more than in the corresponding period of 2020, while, together with dealer sales, it amounted to 130.3 million euros against 75.9 million euros, up 71.7% compared to last year. The above increases are mainly due to the average selling price, since it increased by 47.1% compared to the previous half-year, respectively increasing the turnover. The profit before taxes, interest and depreciation (EBITDA) amounted to 19,068 thousand euros against 1,841 thousand euros last year, while the profit before tax amounted to 28,290 thousand euros against losses of 1,768 thousand euros for the corresponding period last year. The difference in pre-tax income is mainly due to operating profitability due to the increase in gross profit margins. The gross margin rate increased 166.8% from 8.1% in the first half of 2020 to 21.6% this year, while in absolute terms the gross margin increased by 364% or 18 million euros compared to last year, to 23 million euros. . The remaining amount of the increase in profitability is due to the accounting treatment of the refinancing of the Company’s debts, which ended on February 5, 2021. In accordance with the requirements of IFRS 9, the new debts have been accurately reflected. value, resulting in a decrease of 14.3 million euros with the corresponding improvement in Group and Company results. The Group’s equity is now positive and amounts to 12.7 million euros.

At Society level, first-half sales amounted to 70.6 million euros, compared to 41.3 million euros, an increase of 70.9%, while with dealer sales, it amounted to 94.4 million euros compared to 55.9 million euros in the corresponding period of 2020, an increase of 68.9%. As at the Group level, the highest rate of increase is due to the increase in selling prices, as mentioned above. Profit before taxes, interest and depreciation (EBITDA) amounted to 14.3 million euros, compared to 1.6 million euros for the corresponding period last year. At the same time, profit before tax was 24.3 million euros compared to losses of 1.0 million in the corresponding period last year for the reasons mentioned above. Of the difference of 25 million euros, approximately half is linked to the operational profitability of the Company and the rest to the presentation of its new debts at fair value.

Regarding the subsidiaries, the two SIDMA Bulgaria and SIDMA Romania increased their turnover respectively by 81.3% and 76.6% compared to the first half of 2020. More specifically, the turnover of SIDMA Bulgaria amounted to 21.9 million euros compared to 12 , 1 million euros while that of SIDMA Romania was 14.5 million euros compared to 8.2 million euros in the first half of 2020.

At the level of the other aggregates of the subsidiaries, SIDMA Bulgaria recorded an increase, in terms of operating profitability (EBITDA) from 236 thousand euros last year to 2,627 thousand euros this year, but also in terms of pre-tax results, recording profits of 2,375 thousand euros euros this year against losses of 58 thousand euros last year.

In terms of EBITDA, SIDMA Romania posted operating profitability of 2.2 million euros, while at profit before tax it posted profits of 1,682 thousand euros on losses of 704 thousand euros last year.

The Group’s cash position increased by 4.2 million euros or 25% and amounted to 21 million euros.

Finally, it should be noted that the combination of the strengthening of the Company’s equity, the positive half-year results and the refinancing of the Company’s borrowings, which ended in February of this year, significantly improved the financial ratios of Capital structure and Interest coverage. . Concretely, on 06/30/2021 the am ratios are as follows:

Ratio of net debt to equity = 2.7,

Interest coverage ratio (EBITDA / Net interest) = 7.5.

For the remainder of 2021, as the number of COVID-19 cases has started to stabilize and much of the vulnerable population has been vaccinated, with an overall vaccination rate in Greece close to the average for Greece. EU, we believe that the national economy should maintain its growth momentum, keeping the demand for steel at high levels.

The growth outlook for the Greek economy has been revised upwards by the European Commission[1], which now forecasts growth of 6.0% of GDP (compared to 4.2%) for this year, due to the continued normalization expected in the second half of 2021, as the vaccines roll out, and ‘additional budget support. The fiscal measures taken earlier this year, coupled with the impetus for the country’s recovery and resilience plan, are expected to boost domestic demand, which will be the main engine of growth in 2021 and 2022, according to the report. the investment will be reinforced by credits from the Recovery Fund, of which 4 billion euros should go this year to Greece (around 2.3% of GDP) and 5.3 billion in the coming years until 2026 inclusive . In fact, domestic investment is expected to increase by 11.5% this year and 20% in 2022, which should further help boost demand for steel products. As a market leader, SIDMA hopes to profit from the increased demand for steel products described above.

In addition, the European economy is also expected to recover faster than expected, as activity in the first quarter of the year exceeded expectations and the improvement in the health situation led to the quicker easing of restrictions to control the pandemic in the second trimester. As in Greece, the Recovery and Resilience Mechanism (RRF) is expected to contribute significantly to the growth of the European economy. The total wealth that will be generated by the RRF over the forecast time horizon is expected to reach around 1.2% of real EU GDP.

Regarding foreign affiliates, the Romanian economy recorded a strong performance in the first quarter of this year, according to the European Commission summer report (July 2021[2]). Real GDP increased 2.8% from the previous quarter, supported mainly by private consumption and investment. Net exports, on the other hand, were sharply negative, reflecting weak external demand and supply chain disruptions. On an annual basis, real GDP is expected to increase by 7.4% in 2021 and 4.9% in 2022. Private consumption is expected to remain very strong, supported by the lifting of restrictions, especially for sectors severely affected by the crisis. pandemic, such as arts, entertainment, restaurants and hotels, and relatively strong wage growth in the first few months of the year. Investment is expected to remain strong, supported by both the private and public sectors. SIDMA Romania is closely monitoring market developments and should complete the restructuring of its loans and improve its equity during the year.

Respectively, in Bulgaria, despite the continued restrictions on economic activity linked to the pandemic, the country’s real GDP grew by 2.5% in the first quarter of 2021 compared to the previous quarter due to exports and private consumption, according to the summer report of the European Commission (European Commission, July 2021[3]). Consumer confidence reached pre-crisis levels in April and May, suggesting further improvement in domestic consumer demand this year. In the second half of the year, household consumption should continue to increase, in line with the improvement in the labor market. Real GDP growth is expected to reach 4.6% in 2021 and 4.1% in 2022.

Regarding the steel market, the WorldSteel Association[4] predicts that global steel demand will increase 5.8% in 2021 to reach 1,874 billion metric tons (mt). Demand will increase by a further 2.7% in 2022 to reach 1,925 billion tonnes. In addition, Eurofer[5] In its latest report from August 2021, the European Steel Association predicts that apparent steel consumption in the EU is expected to recover in 2021 and return above 2017 levels in 2022 thanks to a continued increase demand from steel-using sectors.

It should be noted that the uncertainties and risks surrounding growth prospects – both at local and regional level – are not negligible but remain broadly balanced. The expected fourth wave of the COVID-19 pandemic is likely to affect near-term growth prospects and geopolitical developments which remain among the biggest challenges for the Greek economy. The important thing, however, is that all analysts and economic agents adopt in their base scenarios the optimistic estimates of the evolution of growth rates for the rest of the year and into 2022. And it is, without a doubt. , good news for the company and the group.


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Land of the rich: 2 South African cities that the richest in the world call home news South Africa http://freebassuk.com/land-of-the-rich-2-south-african-cities-that-the-richest-in-the-world-call-home-news-south-africa/ http://freebassuk.com/land-of-the-rich-2-south-african-cities-that-the-richest-in-the-world-call-home-news-south-africa/#respond Thu, 16 Sep 2021 18:07:42 +0000 http://freebassuk.com/land-of-the-rich-2-south-african-cities-that-the-richest-in-the-world-call-home-news-south-africa/ 2 South African cities have been ranked among the richest in the world Johannesburg and Cape Town are home to the richest in Africa, says New World Health Both regions have an estimated net worth of $ 130 billion or more PAY ATTENTION: Click “View First” under the “Next” tab to briefly see the news […]]]>
  • 2 South African cities have been ranked among the richest in the world
  • Johannesburg and Cape Town are home to the richest in Africa, says New World Health
  • Both regions have an estimated net worth of $ 130 billion or more

PAY ATTENTION: Click “View First” under the “Next” tab to briefly see the news on your News Feed!

Johannesburg and Cape Town are among the richest cities in Africa. This is according to a study published by New World Wealth.

Johannesburg and Cape Town have been named 2 of the richest cities in Africa. Image: Getty
Source: Getty Images

The report focuses on wealthy individuals rather than a country’s overall GDP. It includes all of an individual’s assets – including property, cash, stocks, business interests – minus liabilities, Enterprise technology reports.

Johannesburg has turned out to be Africa’s richest city, with the city’s total wealth now estimated at $ 235 billion. Significant wealth is generated in the city through reputable banks and professional services such as law firms.

Read also

Richest in Mzansi: A look at the 5 richest South Africans in 2021

In contrast, real estate and fund management fuel the wealth of Cape Town.

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“The total wealth held in the city stands at $ 130 billion[189billionderands]. It is home to Africa’s most exclusive suburbs including Clifton, Bantry Bay, Fresnaye, Llandudno, Camps Bay, Bishopscourt and Constantia, ”the report says. [R189-trillion)It’shometoAfrica’smostexclusivesuburbsincludingCliftonBantryBayFresnayeLlandudnoCampsBayBishopscourtandConstantia”thereportstates

The report also noted that the city is home to a number of upscale lifestyle areas, including Steenberg, Silverhurst Estate and Atlantic Beach, Live reports.

Richest in Mzansi: A look at the 5 richest South Africans in 2021

In related news, Brief News previously reported that South Africa could be a developing country, but there is no shortage of super rich people. A handful of people in Mzansi are so rich they are dollar billionaires.

Brief News decided to take a look at the five richest people in South Africa.

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Johann Rupert: 2nd richest man in South Africa increases his wealth in the face of pandemic

Nicky Oppenheimer

Topping the list are Nicky Oppenheimer and his family.

According to Statista data, Oppenheimer is worth $ 8 billion, which is estimated at R113.6 billion.

Oppenheimer made his billions from the diamond trade.

The richest man in SA began his career with the Anglo American mining company in 1968. He was promoted to director in 1974, before becoming vice president in 1983. His grandfather, Harry Oppenheimer, was the founder of ‘Anglo American. Oppenheimer’s grandfather was the first generation to chair diamond mining company De Beers before also becoming president with its subsidiary Diamond Trading Company.

He resigned from Anglo American in 2001, but continued to act as a non-executive director until 2011.

Oppenheimer was the chairman of De Beers Consolidated Mines Limited before resigning in 2012.

Johann rupert

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Johann Rupert is the second richest person in South Africa with a net worth of $ 7.1 billion (Rand 100.8 billion). Rupert has reached the 385th position on the Forbes list of billionaires for 2021.

Financial experts have revealed that Rupert’s fortune has swelled since the start of the pandemic last year, from around $ 4.6 billion to $ 7.1 billion. Statistics from Forbes revealed that Rupert is the fourth richest person in Africa.

Rupert is the president of Rich Goods, located in Switzerland. He also served in the same capacity at a South African company known as Remgro.

He began his business journey in New York City after completing an apprenticeship at Chase Manhattan. He stayed there for two years before moving to Lizard Feres where he stayed for three years. He returned to South Africa in 1976 to found the Rand Merchant Bank, where he served as CEO.

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Top info on who owns Capitec Bank

It was that same year that the same man formed a company called the Small Business Development Corporation which has been responsible for providing over 600,000 jobs so far.

Rupert is arguably one of the country’s most controversial billionaires and he often finds himself a hot topic on social media.

In March 2021, Twitter exploded with backlash after Rupert allegedly gave President Cyril Ramaphosa an ultimatum on Ace Magashule.

Brief News at the time, Rupert reportedly threatened to withdraw his support unless Ramaphosa acted against Magashule and social media users were unimpressed.

EFF chief Julius Malema sharply criticized the incumbent president, saying he had been compromised by the Rupert family, Johann Rupert in particular. interview with SABC News to celebrate the party’s 8th anniversary, Malema issued stern warnings to Ramaphosa about his relationship with the billionaire.

Patrice Motsepe

Patrice Motsepe may well be SA’s most beloved billionaire. In June 2022, Motsepe would be worth 41 billion rand ($ 2.9 billion).

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He made most of his wealth through the mining industry. In 1997, gold prices bottomed out and this enabled Motsepe to purchase six gold mine shafts from AngloGold for $ 7.7 million.

As part of the deal, he was able to pay off the mines with the money his company, now called African Rainbow Minerals, earned. African Rainbow Minerals was the first black owned mining company in South Africa.

Even though he leads a life of low-key luxury with his wife, Motsepe also uses his wealth to do good.

In March 2020, Motsepe donated R 1 billion to Covid19 relief efforts. The billionaire announced that he would help finance the fight against the coronavirus pandemic in South Africa.

In a briefing on the current situation, Motsepe said it was a difficult time for the country, but with SA’s history coming together in these difficult times, there is hope. .

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Know your billionaire – Koos Bekker

The billionaire said the coronavirus was very serious and praised the state for the efforts it has made to fight the pandemic. However, he believes that more serious measures must be implemented. It is understood that the funds will be used to purchase soap, sanitizer, water and other essentials needed during the lockdown period.

He is also a sports fan and Motsepe’s wealth has enabled him to own a football team, the Mamelodi Sundowns.

He also bought shares of the Bulls rugby team alongside billionaire Johann Rupert.

In 2018, Motsepe paid R45 million to bring the FC Barcelona team to South Africa.

Koos Bekker

Koos Bekker is there with Patrice Motsepe with a net worth of $ 2.9 billion (Rand 41 billion.)

Bekker is best known for his revered role as chairman of Naspers Media Group. The billionaire crossed borders and managed to build one of the most influential market caps outside of China and the United States.

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Bekker was one of the founding directors of MTN Mobile Communication Company in the early 1990s. He then became CEO of Naspers in 1997. The company was at the time a major investor in the M-Net / Multichoice group. .

Michiel le Roux

Michiel le Roux is the founder of one of Mzansi’s most popular banks, Capitec.

After getting his LLB and deciding the law was not for him, Michiel landed a job with Distillers Corp. He worked as a general manager until the mid-90s.

He then worked for Boland Bank Ltd for several years. In 2001, Michiel founded the Capitec bank. He was chairman of the bank’s board from 2007 to 2016, and still sits on the board.

Today, Michiel only holds an 11% stake in Capitec. However, his success saw him grow to be a very wealthy man. He is one of South Africa’s dollar billionaires. According to Forbes, Michiel is worth $ 1.4 billion, or roughly 19.89 billion rand at the current exchange rate.

Source: Briefly.co.za


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Lakeland Bancorp Announces Closing of $ 150 Million Subordinated Debt Offering http://freebassuk.com/lakeland-bancorp-announces-closing-of-150-million-subordinated-debt-offering/ http://freebassuk.com/lakeland-bancorp-announces-closing-of-150-million-subordinated-debt-offering/#respond Wed, 15 Sep 2021 20:15:00 +0000 http://freebassuk.com/lakeland-bancorp-announces-closing-of-150-million-subordinated-debt-offering/ OAK RIDGE, NJ, September 15, 2021 (GLOBE NEWSWIRE) – Lakeland Bancorp, Inc. (NASDAQ: LBAI) (“Lakeland” or the “Company”), the holding company of Lakeland Bank, today announced the closing of its public offering subscribed for a total principal amount of $ 150 million of its fixed rate subordinated notes at variable at 2.875% (the “Notes”) due […]]]>

OAK RIDGE, NJ, September 15, 2021 (GLOBE NEWSWIRE) – Lakeland Bancorp, Inc. (NASDAQ: LBAI) (“Lakeland” or the “Company”), the holding company of Lakeland Bank, today announced the closing of its public offering subscribed for a total principal amount of $ 150 million of its fixed rate subordinated notes at variable at 2.875% (the “Notes”) due 2031. The Company expects to use the net proceeds of the offering of Notes for general corporate purposes, which may include refinancing activities, including the repayment of all or part of the principal outstanding on its outstanding subordinated notes.

Keefe, Bruyette & Woods, Inc., A Stifel company, and Piper Sandler & Co. acted as co-bookkeepers. Luse Gorman, PC acted as legal counsel to Lakeland and Hogan Lovells US LLP acted as legal counsel to the underwriters.

About Lakeland Bancorp, Inc.

Lakeland Bank is the wholly owned subsidiary of Lakeland Bancorp, Inc. (NASDAQ: LBAI), which had total assets of $ 7.85 billion as of June 30, 2021. With an extensive branch network and commercial lending centers in New Jersey and Highland Mills, New York, Lakeland Bank offers banking products and services to businesses and individuals. Business services include commercial loans and lines of credit, commercial real estate loans, health services loans, asset loans, equipment financing, small business loans and lines, and management services cash. Consumer services include online and mobile banking, home equity loans and lines, mortgage options and wealth management solutions.

Forward-looking statements

The information disclosed in this press release includes various forward-looking statements which are based on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “” expects “,” believes “,” anticipates “, “May”, “will”, “should”, “could” and other similar expressions are intended to identify such forward-looking statements. The Company cautions that these forward-looking statements are necessarily speculative and speak only as of the date of writing, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from these forward-looking statements. Therefore, you should not place undue reliance on forward-looking statements. In addition to the specific risk factors disclosed in the Company’s annual report on Form 10-K for the year ended December 31, 2020, the following factors, among others, could cause actual results to differ materially and adversely from such forward-looking statements: changes in the financial services industry and US and global capital markets, changes in economic conditions at the national, regional and Company market levels, the nature and timing of actions by the Federal Reserve and other regulators, the nature and timing of laws and regulations affecting the financial services industry, government intervention in the U.S. financial system, changes in federal and state tax laws, changes in levels of interest rates market interest, pricing pressures for loan and deposit products, credit risks of the Company’s lending and leasing activities, successful implementation, deployment and upgrades of new and existing technologies, systems, services and products, customer acceptance of the Company’s products and services, competition and l ” inability to realize the efficiency gains and synergies expected from the merger of 1st Incorporation of Bancorp into the Company and merger of 1st Constitution Bank in Lakeland Bank. Additionally, given its ongoing and dynamic nature, it is difficult to predict the continued effects the COVID-19 pandemic will have on our business and operating results. The pandemic and related local and national economic disruptions may, among other effects, result in a material adverse change in demand for our products and services; increased levels of loan defaults, problematic assets and foreclosures; branch disruptions, staff unavailability and increased cybersecurity risks when employees work remotely. All statements made by the Company that are not historical facts should be considered as forward-looking statements. The Company is under no obligation to update and does not undertake to update any of its forward-looking statements made here.

Investor contacts:
Thomas J. Shara
President and CEO
973-697-2000

Thomas F. Splaine
Executive Vice President and Chief Financial Officer
973-697-2000


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Letter from the reader: “Increase in national insurance will affect young workers” http://freebassuk.com/letter-from-the-reader-increase-in-national-insurance-will-affect-young-workers/ http://freebassuk.com/letter-from-the-reader-increase-in-national-insurance-will-affect-young-workers/#respond Sat, 11 Sep 2021 11:00:00 +0000 http://freebassuk.com/letter-from-the-reader-increase-in-national-insurance-will-affect-young-workers/ SIR – When political experts discuss how to increase additional government revenue to finance the rising cost of social care, there is near unanimity that the worst way forward would be to increase contributions to the social welfare system. national insurance. There are several downsides to increasing the NIC, the most obvious being that it […]]]>

SIR – When political experts discuss how to increase additional government revenue to finance the rising cost of social care, there is near unanimity that the worst way forward would be to increase contributions to the social welfare system. national insurance.

There are several downsides to increasing the NIC, the most obvious being that it is regressive, hitting young workers harder than the rich and retirees.

Renaming the NIC as a “health and social care levy” should not allow the government to muddy the waters. The Conservative manifesto’s cynical pledge not to raise taxes (nor the NIC) prompted the government to increase the NIC and rename it allows the government to claim that it was only breaking its pledge in “limited and specific ways” .

What the government is doing appears to be a cheap and temporary solution. What the social protection system needs is a major overhaul of its funding mechanism. A more innovative and principled government might have sought to introduce a property value tax or reintroduce higher income tax brackets.

In the UK, during the pandemic, the number of billionaires rose from 147 to 171, their total wealth increased by 20%. These figures argue in favor of greater taxation of wealth.

John Cole, Oakroyd Terrace, Baildon


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Truist Financial: Ridley Scholarship Program Announces $ 1 Million Donation from Truist Wealth http://freebassuk.com/truist-financial-ridley-scholarship-program-announces-1-million-donation-from-truist-wealth/ http://freebassuk.com/truist-financial-ridley-scholarship-program-announces-1-million-donation-from-truist-wealth/#respond Wed, 08 Sep 2021 16:30:13 +0000 http://freebassuk.com/truist-financial-ridley-scholarship-program-announces-1-million-donation-from-truist-wealth/ CHARLOTTESVILLE, Virginia and CHARLOTTE, North Carolina (September 8, 2021) – The Walter N. Ridley scholarship program and the University of Virginia Alumni Association announced today that Truist Wealth has donated $ 1 million to the honor of corporate and philanthropic leader S. Buford Scott and Scott & Stringfellow. The donation establishes a fully endowed Ridley […]]]>

CHARLOTTESVILLE, Virginia and CHARLOTTE, North Carolina (September 8, 2021) – The Walter N. Ridley scholarship program and the University of Virginia Alumni Association announced today that Truist Wealth has donated $ 1 million to the honor of corporate and philanthropic leader S. Buford Scott and Scott & Stringfellow. The donation establishes a fully endowed Ridley scholarship for the full state tuition of a young black academic at AVU as well as Truist-Ridley Leadership and Financial Education Academy training, for the benefit of black students of second and third years up. .

Buford Scott served from 1974 to 2018 as Chairman of the Board of Directors of Richmond-based Scott & Stringfellow, previously a wholly owned subsidiary of BB&T Corporation. BB&T Corporation merged with SunTrust Bank in 2019 to form Truist Financial Corporation (NYSE: TFC), and in 2021, the Scott & Stringfellow name was retired.

Scott has been twice appointed to the AVU Visitors Council as well as a member of the Alumni Association Board of Directors. He chaired the merit-based Jefferson Scholars program, which, like the Ridley program, provides scholarships and programming support to attract the best and brightest students to AVU.

“This generous gift from Truist Wealth will fund a scholarship for one deserving student as well as financial education for many others,” said AVU President Jim Ryan. “This is a fitting tribute to Buford Scott, a true citizen and UVA leader whose legacy as champion of opportunity is reflected in this unique partnership.”

A new scholarship to advance diversity, equity and inclusion

The Buford Scott Ridley Scholarship, a four-year renewable merit scholarship, will be awarded to a black student from Virginia and will cover tuition, accommodation and meals, as well as a strong programmatic background in the academy. : The Ridley Scholar Experience, which includes unique opportunities for leadership, professional training and immersive experiences. The first student to receive the Buford Scott Ridley scholarship will begin his studies at AVU in the fall of 2022.

“Buford has had many passions in his life, including his family, his education, his equity and the University of Virginia,” said Joseph M. Thompson, director of wealth management at Truist. “The Buford Scott Ridley Fellowship honors the causes championed by Buford, leaves a lasting legacy for the Scott family and the business they helped build, and demonstrates Truist’s commitment to diversity, equity and inclusion. We look forward to the incredible things Fellows and Academy participants will achieve at AVU, as well as in their lives and careers.

The scholarship will be administered by the Ridley Scholarship Program team at the UVA Alumni Association. The selection criteria for the Buford Scott Ridley Fellow will be in line with the current Ridley Program evaluation standards for high academic achievement, exceptional leadership and community engagement.

Financial and professional education take center stage

The impact of this donation will also benefit growing second and third year black students through the launch of a financial and career education pilot program funded by Truist Wealth. The Truist-Ridley Leadership and Financial Education Academy will partner with the Truist Leadership Institute, the Ridley Scholarship Program, and the UVA Career Center to provide cohorts of black students with classroom and learning experiences spanning leadership and career potential in financial services, technology, consulting, and related fields.

The program will provide students with the opportunity to learn from Truist leaders and the award-winning faculty of the Truist Leadership Institute. It will also introduce Truist students to the company’s commitment to diversity, equity and inclusion, as well as opportunities in the financial services industry.

For Truist, this collaboration is a remarkable way to connect with high quality students in an authentic setting and to increase awareness of the opportunities Truist is committed to providing.

The Ridley Scholarship Program and the UVA Alumni Association will work with the UVA Career Center to develop selection criteria for the program, which will include, but not be limited to, the Ridley Scholars. The Academy’s first program will take place during AVU’s January 2022 trimester, followed by a May 2022 program. The program will support two cohorts of 20 to 25 students each year, for a total of up to 100 students over a two-year period.

“We are incredibly grateful that Truist Wealth has chosen the Ridley Fellowship Program as a partner to honor Buford Scott and create the Academy, the first program of its kind at the University. Truist Wealth’s historic donation will help the Ridley Scholarship Program attract outstanding students to college, and ensure our students have the opportunity to participate in innovative leadership and financial education programs that will help them prepare for their postgraduate and professional. lives, ”said Consuelo Kendall, chair of the Ridley scholarship program.

Scott championed racial and community equity through access to education and financial literacy. He co-founded the Virginia Council on Economic Education and supported its work for over 50 years. He designed the “Stock Market Game,” which has become a staple of financial education for Virginia public elementary school children. He also founded Elk Hill, a non-profit organization that manages residential and health services for at-risk and low-income children through special education, community services and residential treatment programs in across the Commonwealth. He has been involved in many other programs to help at-risk children and promote their education, including faith-based projects in the Richmond area.

###

About the Ridley Fellowship Program

Established in 1987, the Walter N. Ridley Fellowship Program is named after the University of Virginia’s first black graduate. The program, which aims to attract black students of the highest academic caliber, has awarded more than 300 scholarships and held assets of $ 14.2 million in the past fiscal year. The Ridley scholarship program is administered by the UVA Alumni Association.

About Truist

Truist Financial Corporation (NYSE: TFC) is a purpose-built financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of BB&T and SunTrust equals, Truist has a leading market share in many high growth markets across the country. The company offers a wide range of services, including retail, small business and corporate banking; asset Management; capital markets; commercial real estate; corporate and institutional banking; Assurance; mortgage; Payments; specialized loans; and wealth management. Based in Charlotte, North Carolina, Truist is one of the top 10 US commercial banks with total assets of $ 522 billion as of June 30, 2021. Truist Bank, member of the FDIC. Learn more about Truist.com.

Disclaimer

Truist Financial Corporation published this content on September 08, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 08 September 2021 04:21:05 PM UTC.


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Purdue Pharma Owners’ Legal Shield is at the Heart of the Attraction | Job http://freebassuk.com/purdue-pharma-owners-legal-shield-is-at-the-heart-of-the-attraction-job/ http://freebassuk.com/purdue-pharma-owners-legal-shield-is-at-the-heart-of-the-attraction-job/#respond Sat, 04 Sep 2021 15:19:00 +0000 http://freebassuk.com/purdue-pharma-owners-legal-shield-is-at-the-heart-of-the-attraction-job/ Due to the closure of the Purdue Pharma bankruptcy case bitter taste For those who want to see more responsibility towards members of the Sackler family. Sacklers will relinquish ownership of the company, withdraw from its international opioid business and pay $ 4.5 billion in cash and philanthropic assets as part of a settlement. OK. […]]]>

Due to the closure of the Purdue Pharma bankruptcy case bitter taste For those who want to see more responsibility towards members of the Sackler family.

Sacklers will relinquish ownership of the company, withdraw from its international opioid business and pay $ 4.5 billion in cash and philanthropic assets as part of a settlement. OK. Pre-approval According to a federal bankruptcy judge this week.

Some state attorneys general and a federal agency are considering appealing.

The central question of their debate: is it appropriate for members of a well-to-do family who have not filed for bankruptcy to enjoy such extensive protection?

Lawyers and victim advocates involved in the proceedings, including the proceedings of about 3,000 governments and other organizations, said members of the Suckler family, owners of Purdue, played an important role in overseeing the business and marketing of Oxycontin. Critics say the company’s best-selling prescription pain relievers have contributed to the opioid crisis in the United States

Maryland Attorney General Brian Frosh told The Associated Press: “They are the root of drug addiction and death in our country and around the world, literally billions of dollars taken from Purdue Pharma. You can hold it in between. “

Mr Frosch said he was considering recourse.

Lawyers from Connecticut, the District of Columbia, Washington, and the US Bankruptcy Trustee, a division of the Federal Department of Justice responsible for protecting the bankruptcy process, have said they intend to appeal.

Under the settlement, Suckler’s family gets what is called a “third party discharge” in the bankruptcy world. This is one of the most controversial questions in bankruptcy law.

These discharges have been used in complex bankruptcy cases involving multiple parties, facilitating settlements that are otherwise difficult or impossible to achieve. Dow Corning owner Dow Chemical was released in the 1990s from a lawsuit over the dangers of silicone breast augmentation surgery by the latter company. Owners of companies that manufactured asbestos were protected from lawsuits regarding the cancer risk associated with their products that began in the 1980s.

Some federal courts of appeal rejected the release, but the majority accepted it. This includes the Second Circuit, which can handle the appeal of the decision of U.S. bankruptcy judge Robert Drain, who ruled in the Purdue case from the courthouse in White Plains, New York.

A long-term bill pending in Congress called “Suckler Law” will prohibit the release of third parties. Even if adopted, it would be too late to influence the case of the same name.

In a preliminary ruling from the bench earlier this week, Drain explained in detail why he had allowed family protection as part of the settlement.

“I wish the plan provided more,” he told a member of the Sackler family. “But refusing to confirm does not jeopardize what the plan proposes.”

The settlement relinquishes ownership of Purdue and makes it a new company with a board of directors appointed by government officials. Money from family, business accounting, and future interest is used to pay for individual victims of the opioid crisis and to fund treatment, educational programs, and other epidemic control efforts. It’s supposed to be.

The crisis has been linked to overdose deaths of more than 500,000 people in the United States since 2000, involving either prescription pain relievers or illegal pain relievers such as illegally manufactured heroin or fentanyl. to augment.

Purdue Pharma, based in Stamford, Connecticut, estimates the settlement to be $ 10 billion, including the value of overdose antidotes and drug addiction treatments in development.

Suckler’s family, whose total wealth is estimated to be over $ 10 billion, have made it clear that they will not contribute to the settlement without procedural protection.

At a hearing on the restructuring plan last month, experts said it may not be possible to impose payments without reconciliation because much of the family’s assets are in the ‘foreigner. Bankruptcy judges said some families were strangers and could put their assets even further out of reach.

To make matters worse, Purdue University pleaded guilty to federal criminal offenses last year and agreed to confiscate $ 2 billion. As part of their legal proceedings, the company will have to pay the federal government its $ 225 million as long as it resolves other opioid litigation and uses the proceeds to fight the crisis. If the bankruptcy settlement is overturned, Purdue University will have to pay the federal government an additional $ 1.7 billion, much less money to be split between state, local government, and opioid victims.

“If they keep appealing, what will they get if they win,” said Lindsey Simon, assistant professor of law at the University of Georgia, who teaches bankruptcy law. “

This is the view taken by many state lawyers.

About half of the country’s prosecutors, including almost all Democrats, initially opposed the settlement. In an interview with AP last June, Massachusetts Attorney General Maura Healey sharply criticized the protection of the Sackler family. It’s not perfect for me, it’s not perfect for anyone, ”she said.

But in July, after Sackler’s family paid more and agreed to do so sooner, Healy and the majority of the other attorneys general began to agree to the plan. Purdue has also agreed to release millions of company documents, including those normally protected by attorney / client privileges.

Connecticut Attorney General William Tong is still opposed to the deal.

“This is part of the worst corporate fraud we have ever seen. It’s not just about trading, making as much money as possible, or getting out of Dodge. He does justice and holds them accountable. “

Professor Anthony Casey of the University of Chicago Law School said those angry with the judge over the release of a third party may not be immersed in bankruptcy law. The judge does. “

Purdue Pharma Owners’ Legal Shield is at the Heart of the Attraction | Job

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NFL announces it will exceed $ 250 million pledge for social justice work http://freebassuk.com/nfl-announces-it-will-exceed-250-million-pledge-for-social-justice-work/ http://freebassuk.com/nfl-announces-it-will-exceed-250-million-pledge-for-social-justice-work/#respond Wed, 01 Sep 2021 19:42:52 +0000 http://freebassuk.com/nfl-announces-it-will-exceed-250-million-pledge-for-social-justice-work/ General view of the NFL Shield logo on the field before Super Bowl LV between the Tampa Bay Buccaneers and the Kansas City Chiefs at Raymond James Stadium. Kim Clement | USA TODAY Sports | Reuters As the National Football League prepares to enter its 102nd season next week, the league says it remains committed […]]]>

General view of the NFL Shield logo on the field before Super Bowl LV between the Tampa Bay Buccaneers and the Kansas City Chiefs at Raymond James Stadium.

Kim Clement | USA TODAY Sports | Reuters

As the National Football League prepares to enter its 102nd season next week, the league says it remains committed to raising awareness about social justice issues and will not stop providing top-tier funding.

The NFL has said it will likely exceed its $ 250 million pledge done in 2020 before the 10-year term. Last year, the NFL increased its total to tackle issues in minority communities by funding businesses and programs dedicated to issues of systemic racism, criminal justice reform, and economic inequality.

In an interview with CNBC, Anna Isaacson, the NFL’s senior vice president of social responsibility, said the league has distributed around $ 160 million to date, including more than $ 90 million spent in 2020.

“I think we’ll go over $ 250 million,” Isaacson said, adding that the NFL was “genuinely committed” to tackling the social issues that continue to plague the country.

“We are here for the long term. We are not here only for a short time, and we are here to find solutions to complex problems,” she added.

Money tracking

The NFL initially closed its donation deal in 2017, following players protesting social justice issues, including former quarterback Colin Kaepernick who has become the face of the movement. To raise awareness of the high-profile police shootings, NFL players knelt during the national anthem, which led to the formation of the Players Coalition.

The league created a plan to distribute around $ 89 million to fund social organizations, and this has helped ease tensions between players and team owners. Last year, he combined those funds with the 2020 pledge, and as a result, he positioned the NFL to surpass $ 250 million by 2027. The money is split between the NFL Foundation matching funds and includes league-approved social justice grants.

“There’s no way to hit $ 250 million and stop,” Isaacson said. She added that the NFL had donated around more than $ 40 million until last year, when social unrest escalated across the country following the murder of George Floyd. His death in May 2020 helped further expose the deep-rooted issues among minorities in underserved areas.

Isaacson said last year’s social unrest, which even warranted an apology from NFL commissioner Roger Goodell, “made a difference” for the NFL. She added that the league has entered a “period of self-reflection.”

Isaacson said, “We made mistakes and we are rebuilding trust. It takes a long time, but our goal is to make an impact and show our genuine commitment.”

When asked what she saw of the NFL during the cooling off period, Isaacson replied, “I saw an organization that has worked hard over the past two years to make a difference and collaborate more closely. with the players. But also, we haven’t done enough – and we have a responsibility to do more. “

When discussing the NFL’s $ 250 million pledge, Isaacson was also asked if the funds pledged were sufficient, especially from a league that just signed a $ 100 billion media rights deal. dollars, the highest in professional sport.

“You can always say, ‘we can give more,'” said Isaacson. “But you have to look at the big picture and consider the commitment of the NFL. The league and clubs are using all of their assets, networks, digital assets and relationships to raise awareness and advocate for these issues. So I think we are. do our part. We have a big role to play in that regard, and we are fulfilling that role, “she added.” But it’s not the role of the NFL to play alone. “

The message “End Racism” can be seen on the helmet of No. 12 Tampa Bay Buccaneers Tom Brady as he warms up before the game against the Carolina Panthers at Raymond James Stadium on September 20, 2020 in Tampa, Florida. .

Mike Ehrmann | Getty Images

The future of NFL field messaging still in question


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