More poles arrive on island FortisTCI continuing to push ahead

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp T&T companies tap into Cuban market at Expo Caribe 2019 Editorial: Listen to your Mama Facebook Twitter Google+LinkedInPinterestWhatsApp#TurksandCaicos, October 3, 2017 – Providenciales – More power poles over the weekend arrived in country to support the massive job of restoring the electricity of nearly the entire country still, nearly a month after Hurricane Irma which did the real damage to the #FortisTCI power supply system.   Worst hit are known:  Five Cays, Chalk Sound, Blue Hills and Grand Turk.FortisTCI is updating the government on a daily basis when it comes to electricity restoration progress and up to September 27th there were nearly 5,000 customers restored; 44% in Providenciales, 75% in North and Middle Caicos; 15% in South Caicos and Grand Turk had 51 customers with their power back on.The job in the Capital is extensive as 36 miles of electricity wire needs to be run and on Salt Cay, there is yet to be an assessment.   #MagneticMedia has been hounding leaders for a timeline for restoration of electricity, the Premier explains that FortisTCI is working on one and that information will come this week, according to Mrs. Robinson.As it relates to what Hurricanes Irma and Maria have cost the country, the tally is still unknown.  Premier Sharlene Robinson said the United Nations through the Foreign and Commonwealth Office will help the Turks and Caicos determine what the economic impact is of the killer storms which pounded the Turks and Caicos Islands in September. #Metoo-movement-type complaint, now investigation of high-ranking TCI Police Officer opened Recommended for you Related Items:FORTIStci, magneticmedialast_img read more

Tesla issues stock for trucks and trailers to bolster deliveries

first_img Tesla Car Industry Electric Cars 50 Photos Tesla Model 3 barrels through the snow in Track Mode More about 2018 Tesla Model 3 Performance Tesla Model 3 Review: Performance trim Review • Tesla Model 3 Review: Performance trim More From Roadshow Tags 2019 Nissan Leaf Plus review: A better EV, but maybe not the best Preview • 2018 Tesla Model 3 Performance: The future, quicker 0 While Tesla’s sales model is currently a bit… schizophrenic, the automaker has held firm that it needs to continually improve its delivery process, and according to a new SEC filing, it’s following through on that promise.Tesla filed documents with the SEC today to register 49,967 shares of Tesla common stock. The shares carry a value of approximately $14 million ($13,843,346.35 if you dig precision). The money is being used to bolster the delivery side of its sales operations.”Tesla agreed to issue shares of Tesla’s common stock in connection with its acquisition of certain car-hauling trucks and trailers from Central Valley Auto Transport, Inc., an automotive transport provider,” the automaker wrote in its SEC filing. The filing states the company made this move in order to “increase its vehicle transport capacity, reduce vehicle transportation time, and improve the timeliness of scheduled deliveries.” Tesla did not immediately return a request for further comment.Enlarge ImageTesla has been very cagey when it comes to discussing specifics of its delivery logistics. Smith Collection/Gado/Getty Images A quick trip to Central Valley Auto Transport’s website shows that the company specializes in the usual type of vehicle delivery trucks you see patrolling streets across America. It has a three-figure fleet of carriers that can accommodate between one and nine vehicles.This filing provides a bit more information than previous comments regarding boosting its delivery capacity. Last November, CEO Elon Musk tweeted that Tesla “just acquired trucking capacity” to ensure it could deliver as many Model 3 EVs as possible ahead of a federal tax incentive reduction. At that time, the automaker declined to discuss specifics. It also played into Tesla’s strategy to reduce reliance on train-based car transport, which, according to Musk’s tweets, can take longer to deliver vehicles to far-off corners of the US than trucks can.Tesla said in its fourth-quarter earnings call that it hopes to deliver between 360,000 and 400,000 Tesla vehicles in 2019, a 45-to-65-percent increase from 2018. Scooping up trucks like those from Central Valley Auto Transport should help it reach that goal.(Hat tip to Electrek!) Post a comment 2020 BMW M340i review: A dash of M makes everything better Share your voice Elon Musk Teslalast_img read more

After sting operation video Ameesha Patel lands in Rs 25 crore fraud

first_imgAmeesha PatelAmeesha Patel Instagram pageAmeesha Patel, who has given the industry some memorable films to cherish, has been missing from the limelight for quite some time now. And whenever the diva does enter the spotlight, more often than not, it is for all the wrong reasons. After the sting operation video of Ameesha Patel agreeing to publicise a certain political party in lieu of money made it its way to the internet, Ms Patel, seems to have landed herself in another controversy.As per a report in Mumbai Mirror, a financier and film producer has lodged a case against Ameesha Patel and her business partner Kunal Goomer for cheating him of Rs 2.5 crore. The producer Ajay Kumar Singh has alleged that he had lent Rs 2.5 crore to the duo for their film – Desi Magic – which hasn’t seen the light of the day. Not just that, Singh has alleged that the duo gave him a cheque of Rs 3 crore which bounced and when the financier went back to them again, he was apparently told that they have no intentions of returning the money.”I had given Ameesha and Kuunal Rs 2.5 crore when they visited Ranchi in March last year for an event. They had told me the film would release by June 2018 and would be a profitable venture for me. It has yet to arrive at the theatres and when I badgered them, they promised to return my money with interest in two-three months. They even gave me a cheque of Rs 3 crore but it bounced and when I went back to them, they told me this time that they had no intention of refunding my money,” Ajay Singh told the daily.The producer and financier has now moved to court alleging fraud and cheque bouncing case.last_img read more

Drastic lending rate cuts to squeeze banks net interest margins say brokerages

first_imgFollowing State Bank of India’s lead on Monday to sharply cut the marginal cost-based lending rate — the rate at which banks now lend to new borrowers — by 90 bps to 8 percent, rest of the PSU and private sector banks have no option but to follow suit. By Monday night itself, at least half a dozen banks announced the rate slash for different tenures.  Comparison of interest rates on deposits by senior citizens after PM Modi’s speechWhile Punjab National Bank reduced the overnight lending rate by 70 basis points to 8.20 percent, Union Bank of India lowered the rates by 65-90 bps for different tenures. Similarly, Dena Bank, IDBI Bank and private sector lenders Kotak Mahindra Bank and ICICI Bank had to cut down rates.SBI announced the cut a day after Prime Minister Narendra Modi asked banks to prioritise lending to the poor and the middle class. Banks are believed to be flushed with deposits following demonetisation of old high denomination currency notes of Rs 1,000 and Rs 500.The move to cut the lending rate is expected to prompt an increase in credit offtake of banks — especially of state-run lenders — whose balance sheets are under substantial burden.However, leading brokerages are of the view that cutting lending rates of such a sheer magnitude would squeeze the net interest margins of banks and the trend may well persist for at least a few quarters. In a report on SBI, a Deutsche Bank note warned: “A 90 bps one-go rate cut is sharp and will be negative for NIMs. Though this is only for incremental loans and the immediate impact on NIMs will be gradual, but pressure will persist for at least next 4 quarters as loans reprice downwards.”A CLSA report stated that the lending rate cuts will boost credit demand in retail segments such as housing loans and any impact on margins will be mitigated as MCLR will apply only to incremental loans, as reported by the Economic Times.”A 5bps lower NIM in FY18 could impact earnings by 4%, with a higher impact on PSU banks,” said CLSA.Analysts expressed surprise at the quantum of MCLR cuts — which they primarily believe is a result of demonetisation-led excess liquidity in the banking system — and said the implication of the lending rate cut is likely to be negative for both banks as well as NBFCs, particularly catering to the housing loan segment.Shares of banks and housing finance companies, including LIC Housing Finance, HDFC, Indiabulls Housing Finance, remained under pressure on Monday in trade and may continue to underperform in the coming weeks.last_img read more

What Every Online Business Needs to Know About the Childrens Online Privacy

first_img Free Workshop | August 28: Get Better Engagement and Build Trust With Customers Now May 9, 2013 3 min read When setting up an online business, there are a lot of elements that you need need to consider. For example, websites designed for children under age 13 or sites that know they’re collecting information from children under 13 are subject to rules concerning child online privacy. Failure to comply with these rules can lead to steep government fines. Congress enacted the Children’s Online Privacy Protection Act (COPPA) in 1998. The law allows parents to control the information collected by businesses and websites from children. Since that time, the Federal Trade Commission (FTC) has monitored businesses to ensure they’re in compliance with COPPA. With the first changes to the rules coming July 1, 2013, we reviewed new COPPA guidelines to find answers to the most important questions you may have about this law.Related: Customer Privacy Policy EssentialsDoes COPPA apply to my business?COPPA applies to any commercial website or online service (including mobile apps and social networking sites) targeting kids under 13 that collects, uses, or discloses personal information from children. The law also applies to general audience websites or online services that are knowingly collecting, using or disclosing personal information from children under 13. Personal information is defined as a screen name, or a “persistent identifier” such as IP address, or traditional information including phone number, social security number, photographs, video, and more.What does my business need to do to comply with COPPA?If your app or website fits the criteria above, you are required under COPPA to post privacy policies, provide notice to parents, and obtain verifiable parental consent before collecting personal information from children. You can get parental consent by offering a mail-in consent form, a toll-free number or videoconference for parents to contact your staff.In the case of a purchase made by a parent on the site, use of a credit card that provides notice of the sale to the account holder may suffice. The guidelines state, however, that use of a parent’s app store account password is not sufficient to comply with the parental consent requirement. Some exceptions to the prior parental consent rule may apply, check the FTC website for more information. Are there penalties for not complying with COPPA?Yes. The FTC may file a complaint and a court may hold a site operator liable for up to $16,000 for each child your business unlawfully collects information about. States may also bring COPPA enforcement actions against businesses, such as issuing a court order for your company to comply with COPPA.What if the child lies about his/her age on a general audience website?The website owner isn’t required to investigate the age of visitors to the site. However, if you have knowledge that a child is using your site (for example, you are notified by a concerned parent), then you could be responsible for gathering information from a child.Lastly, if your website is subject to COPPA, you may want to contact an expert to ensure your site is in compliance. The FTC published a set of guidelines and Frequently Asked Questions to answer questions about COPPA and the rule revisions. Related: A Seven-Step Guide to Protecting Customer Privacy This hands-on workshop will give you the tools to authentically connect with an increasingly skeptical online audience. Opinions expressed by Entrepreneur contributors are their own. Enroll Now for Freelast_img read more