Just days ago I urged journalism teachers to force students to learn about business and finance. In particular, I want students to understand debt financing, which has put a stranglehold on many publications.My hope is that by understanding the murderously difficult environment in which many publishers operate, students will made better decisions about their career path.To that end, I offer a reading assignment. Reuters has published a lengthy and well-reasoned article showing that it will be damn near impossible for Sam Zell to avoid a default at the Tribune Co., which is groaning beneath $4 billion of debt and some tough-to-meet debt covenants. You can check out the article here. Students who take the CliffNotes approach to study can get everything they need from PaidContent’s take.Those of us in b-to-b should avoid the urge to feel smug about the nightmare that is newspaper finance. In our end of the industry, things are likely just as bad. But since so many of our major players are privately held, we just don’t know how ugly the balance sheets may be.And as I’ve said before, I’m worried.Read more here …
DIBYANGSHU SARKAR/AFP/Getty ImagesThe Bharatiya Janata Party has accused the Trinamool Congress of acting like sore losers after the disastrous Lok Sabha election results for Mamata Banerjee in West Bengal. It is being claimed that Trinamool Congress cadres damaged public property “to teach a lesson to the locals” for supporting the saffron party. The BJP has registered a landslide victory in West Bengal and increased its seat count from two in the 2014 Lok Sabha elections to 18 this year.According to IANS, the Trinamool Congress cadres damaged tubewells and snapped water lines in three localities of West Burdwan and Birbhum districts. It was done as BJP received more votes in the Kanakpur polling booth of Birbhum Lok Sabha constituency.”All tubewells in the village have been damaged, because BJP has done well,” said local BJP worker Laltu Mondal.In protest, the villagers gheraoed the house of local panchayat member of Trinamool Congress, Panchanan Das. He denied his party’s hand in damaging the tubewells but promised to repair them.”Nobody can say that Trinamool, or a panchayat member, or some other local club has done all this. BJP has won. It is trying to put the blame on us,” he said. The tubewells were later repaired.
An HDFC Bank branch office in Mumbai, October 21, 2015Reuters fileUpdate:HDFC Bank shares were trading with gains of 1.44 percent at Rs 1,483 crore after the private sector lender reported 18.25 percent rise in March 2017 (Q4) net profit to Rs 3,990 crore from Rs 3,374.22 crore for the corresponding period last year. This despite the bank’s provisioning for bad loans spiking by more than 100 percent to Rs 1,262 crore during Q4 from Rs 662 crore in the fourth quarter last fiscal.The number of employees stood at 84,325 as of March 31, 2017, down 6,096 from 90,421 as of December 31, 2016. Net interest income grew 21.1 percent YoY to Rs 12,501 crore from Rs 10,319.2 crore in the year-ago period.Total income stood at Rs 21,560 crore, up 14.3 percent from Rs 18,862 crore, YoY. Other income (non-interest) increased 20.3 percent to Rs 3,446 crore.Gross non-performing assets (NPAs) and net NPAs stood at 1.05 percent and 0.33 percent, respectively, as of March 31, 2017, almost unchanged on a sequential basis but up from 0.94 percent and 0.28 percent, respectively, as of March 31, 2016.The HDFC Bank board recommended a dividend of Rs 11 per equity share, up from Rs 9.50 per share for fiscal 2016.Deposits stood at Rs As of March 31, 2017, the bank had 4,715 branches and 12,260 ATMs.Original story:HDFC Bank were trading with modest gains on Friday ahead of quarterly and full-year results. The scrip was up 0.48 percent at Rs 1,469 on the BSE at around 12.30 pm.The private sector lender’s provisioning for bad loans will be interesting in the context of two other private banks — Yes Bank and IndusInd Bank — earmarking a higher amount for non-perforning assets (NPAs), in line with the RBI’s asset quality review norms.As of December 31, 2016, HDFC Bank’s gross and net NPAs stood at 1.05 percent and 0.3 percent of total advances.Yes Bank, which reported its results recently, had to set aside an additional Rs 228 crore in anticipation of likely losses arising from its exposure to Jaiprakash Associates Ltd.”As of 31 March 2017, the impact of divergences overall is at Rs 1,040 crore on which we have made 25% provisioning. This includes one borrower exposure of Rs 911 crore towards a Delhi-based cement company. However, this is a performing asset which has been servicing interest regularly. We expect to recover the amount in the near term,” Rana Kapoor, MD and CEO of the bank said, without naming the company. The exposure to Jaiprakash Associates and the consequent increase in higher provisioning was also the case for IndusInd Bank. “Provisions were elevated at INR4.3b as they included one-off amount of INR1.22b on a bridge loan for a cement M&A transaction (account remains standard), where the receivable is in June (likely to get reversed in 1QFY18),” brokerage Motilal Oswal Securities said in a note.The optimism for both the banks stems from the fact that Jaiprakash Associates had signed a deal with Aditya Birla Group company Ultratech Cement valued at Rs 16,189 crore for sale of its cement assets.Here is the video clip of HDFC Bank’s concall post declaration of Q3 results:
Share via Twitter @USATODAYHall of Fame quarterback Warren Moon has been accused of sexual harassment by an assistant for his sports marketing firm, according to a lawsuit filed in California.The civil lawsuit was filed Monday in Orange County Superior Court. According to court documents, Wendy Haskell alleges Moon made “unwanted and unsolicited” sexual advances as part of her role as his assistant working for Sports 1 Marketing. Moon is the co-founder and president of the company.The Washington Post first reported on the lawsuit Wednesday. The 61-year-old Moon has been working as a radio commentator for the Seattle Seahawks. The team announced later Wednesday that “We have accepted Warren Moon’s request for a leave of absence as the club’s radio analyst.”Moon played parts of 17 seasons in the NFL with Houston, Minnesota, Seattle and Kansas City. He threw for 49,325 yards and 291 touchdowns in the regular season and was elected to the Hall of Fame in 2006. The former University of Washington star led Edmonton to five Canadian Football League titles before playing in the NFL.According to the lawsuit, Haskell was hired as an executive assistant to Moon in the summer of 2017. The lawsuit alleges that Haskell was forced to sleep in the same bed with Moon on business trips while wearing lingerie. Haskell says in the lawsuit that she complained about the arrangement but that Moon responded “this was the way it was.” Additionally, the lawsuit claims Haskell was required to keep the bathroom door unlocked while she showered and Moon repeatedly entered the room.Haskell also claimed she was drugged by Moon during a trip to Mexico in October. The lawsuit alleges that Moon acknowledged drugging Haskell because he thought she wasn’t “having fun.” She also claims Moon pulled off her swimsuit during the Mexico trip.The lawsuit claims that Haskell reported Moon’s behavior to Sports 1 Marketing CEO David Meltzer but the company did not investigate her claims. Haskell claims she was demoted after making the complaints.Haskell’s attorney, Diane L. Fitzgerald, told The Washington Post her client had decided to go public with the suit.“She was expecting to further her career in the sports marketing industry,” Fitzgerald told The Post. “She had no idea that her job duties were going to involve that kind of perverse protocol.”
Citation: ‘Super-Earth’ planet with very short orbital period discovered (2017, November 20) retrieved 18 August 2019 from https://phys.org/news/2017-11-super-earth-planet-short-orbital-period.html K2 light curve of C12_3474. Stellar activity is seen as the quasi-periodic, long period modulation. Transits are visible as shallow dips. The 5.3-day-long data gap, during which the telescope entered in safe mode, is clearly visible at ∼2/3 of the time series. Credit: Barragán et al., 2017. Explore further © 2017 Phys.org Three ‘super-Earth’ exoplanets orbiting nearby star discovered (Phys.org)—NASA’s prolonged Kepler exoplanet-hunting mission, known as K2, has revealed the presence of another “super-Earth” alien world. The newly found planet, designated EPIC 246393474 b (or C12_3474 b), is more than five times more massive than the Earth and orbits its parent star in less than seven hours. The discovery is reported November 6 in a paper published on the arXiv pre-print repository. Kepler is so far the most prolific planet-hunting telescope. The spacecraft has discovered more than 2,300 exoplanets to date. After the failure of its two reaction wheels in 2013, the mission was repurposed as K2 to perform high-precision photometry of selected fields in the ecliptic. Since then, the revived Kepler spacecraft has detected nearly 160 extrasolar worlds. Researchers have used K2 to detect so-called “super-Earths” – planets with masses higher than Earth’s but lower than that of the solar system’s gas giants. In September, astronomers have confirmed the discovery of three super-Earths orbiting a nearby star, which were first spotted by this spacecraft. Now, an international group of researchers led by Oscar Barragán of the University of Turin in Italyusing K2 has detected one more such planet.”In this paper we present the discovery of EPIC 246393474 b (hereafter C12_3474 b), an ultra-short-period planet transiting a K7 V star,” the astronomers wrote in the paper.The Kepler spacecraft observed a K-type main sequence star known as EPIC 246393474 from December 2016 to March 2017 during its Campaign 12. The star is about 740 million years old with a radius and mass approximately 33 percent smaller than that of the sun.As a result of these observations, the researchers identified a transit signal in the light curve of this star. The planetary nature of this signal was later confirmed by follow-up observational campaign using ground-based telescopes, including the WIYN 3.5-Meter Telescope at Kitt Peak National Observatory in Arizona.According to the study, EPIC 246393474 b has a radius of 1.54 Earth radii and is 5.3 times more massive than our planet, indicating a density of approximately 8.0 g/cm3 and suggesting a rocky-iron composition. The exoplanet has an equilibrium temperature of 2,039 K.”The planetary density is consistent with a composition made of a mixture of iron and rocks. We estimated that the iron content of C12_3474 b cannot exceed about 70 percent of the total planetary mass,” the paper reads.What is most interesting about EPIC 246393474 b is that it has an ultra-short orbital period. Barragán’s team found that it orbits its host every 6.7 hours at a distance of about 0.007 AU. This makes it the shortest-period planet known to date with a precisely determined mass.The researchers noted that the close distance of EPIC 246393474 b to its parent star suggests that it has lost its entire atmosphere due to stellar irradiation. However, they added that further mass measurements of transiting ultra-short-period planets should be performed in order to confirm this theory. More information: EPIC 246393474 b: A 5-M⊕ super-Earth transiting a K7 V star every 6.7 hours, arXiv:1711.02097 [astro-ph.EP] arxiv.org/abs/1711.02097AbstractWe report on the discovery of EPIC 246393474 b, an ultra-short-period super-Earth on a 6.7-hour orbit transiting an active K7 V star based on data from K2 campaign 12. We confirmed the planet’s existence and measured its mass with a series of follow-up observations: seeing-limited MuSCAT imaging, NESSI high-resolution speckle observations, and FIES and HARPS high-precision radial-velocity monitoring. EPIC 246393474 b has a mass of 5.31±0.46 M⊕ and radius of 1.54+0.10−0.09 R⊕, yielding a mean density of 8.00+1.83−1.45 gcm−3 and suggesting a rocky-iron composition. Models indicate that iron cannot exceed ∼70 % of the total mass. With an orbital period of only 6.7 hours, EPIC 246393474 b is the shortest-period planet known to date with a precisely determined mass. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
Keeping in view the advancement of VIT in the digital era, VIT-AP has launched new courses to ensure successful employment with digital skills. B Tech Artificial Intelligence, BBA Business Analytics, Animation, and Media courses are few of the new courses to come into force from this academic session.In a press conference held at the campus recently, VIT-AP University Chancellor Dr G Viswanathan unveiled the poster of new academic courses, and Sankar Viswanathan, Vice president of VIT-AP announced the university’s collaboration with Toonz – for courses on animation, visual effects, and gaming. Also the Vice-Chancellor Dr D Subhakar further elaborated on the courses like animation filmmaking – advanced, Visual effects – advanced and 3D finishing programme, 3D FP, which will be an addition in VIT from this year. Also Read – Add new books to your shelfAddressing the media, Dr G Viswanathan talked about the open book exams held at VIT. He said, ‘The way we conduct exams traditionally only assesses students based on their ability to reproduce knowledge. With that, we aim to reform the way of assessment. We are aiming to match the assessment system with the outcome-based framework, our education and industry has adopted based on performance indicators.’The Business school of the university has also launched a BBA in Business Analytics from the coming academic session in Amaravati campus. Also Read – Over 2 hours screen time daily will make your kids impulsiveWith the additions in academic area, VIT Business School (VSB) is exploring an international credit transfer program with WP Carey School of Business, Arizona State University (ASU), USA for a 2+2 program where a student can study two years in India and two years in the USA and get an undergraduate degree from ASU.Twelve universities from USA, UK, Australia, and Spain are offering international transfer programs. Dr CLV Sivakumar, Registrar, VIT –AP University informed that to ensure practical training to the B. Tech students, VIT-AP University is offering engineering clinics and six to nine months internship program as soon as they complete their first.VIT-AP, one of the best university in the country – ranks number 13 in engineering institution by MHRD, Government of India – NIRF Ranking consecutively for three years (from 2016 – 2018.) With its foundation of 34 years in the education industry, the university’s innovations in the field of education and research have also set a benchmark for higher education in India.