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Newpaper24 - Global online News around the World mothercare-uk Mothercare to close a 3rd of UK shops in battle for survival - NEWPAPER24  Newpaper24 - Global online News around the World mothercare-uk Mothercare to close a 3rd of UK shops in battle for survival - NEWPAPER24

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Mothercare to close a 3rd of UK shops in battle for survival – NEWPAPER24

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Mothercare to close a 3rd of UK shops in battle for survival

2018-05-18 01:10:38

LONDON: Struggling British mom and child merchandise retailer Mothercare will shut over a 3rd of its UK shops as a part of a survival plan that additionally sees the return of the chief government who was sacked simply 5 weeks in the past.

The agency’s gross sales and revenue have been hammered by intense competitors from grocery store teams and on-line retailers in its important UK market in addition to by rising prices, leading to what it known as on Thursday “a dangerous monetary situation”.

It reported a loss earlier than tax of 72.eight million kilos (US$98.2 million) for the yr to Mar 24, on group gross sales down 2 per cent to 654.5 million kilos.

Mothercare’s shares had misplaced 83 per cent of their worth over the past yr however rose as a lot as 34 per cent on Thursday after the agency detailed a 113.5 million kilos refinancing, together with a deliberate 28 million kilos fairness fundraising, and stated Mark Newton-Jones would return as CEO.

Newton-Jones was ousted as CEO on Apr four by then chairman Alan Parker. Parker himself abruptly retired on Apr 19.

Newton-Jones’ alternative as CEO David Wooden, a former Tesco government, will develop into group managing director.

Mothercare stated it could search creditor approval for so-called firm voluntary association (CVA) proposals that may allow it to close 50 shops and safe lease reductions on 21 others. As many as 800 jobs might be misplaced.

The agency at present trades from 137 UK shops, having had practically 400 a decade in the past. The brand new plan would see it commerce from 78 UK shops by 2020.

The CVA route, which permits corporations to keep away from insolvency or administration, has already been taken this yr by fellow UK retail strugglers – trend chain New Look, ground coverings group Carpetright and division retailer group Home of Fraser.

Brutal buying and selling situations for retailer teams – with strain on UK disposable incomes compounding intense competitors – are additionally partly answerable for the collapse of Toys R Us UK, electricals group Maplin and drinks wholesaler Conviviality.

UNSUSTAINABLE SITUATION

Shares in Mothercare had been up 5.four pence at 25.four pence at 1420 GMT (10.20pm Singapore time), valuing the enterprise at 46 million kilos.

“The current monetary efficiency of the enterprise, impacted particularly by numerous legacy loss-making shops throughout the UK property, has resulted in an unsustainable scenario … which means the group was in clear want of an acceptable decision,” stated interim government chairman Clive Whiley.

Analysts at Peel Hunt stated Mothercare’s measures appeared enough to get the UK enterprise again to breakeven.

“The broader problem is to finish the method of creating Mothercare’s proposition extra compelling, which would require a sharper view on pricing,” they stated.

Along with the proposed fairness situation, Mothercare has secured revised dedicated debt services of 67.5 million kilos, eight million kilos of recent shareholder loans and a brand new facility of as much as 10 million kilos from a commerce associate.

Creditor conferences to vote on the CVA proposals are anticipated on June 1, with the method projected to finish in July. The fairness situation is conditional on the CVA going by way of.

Mothercare additionally trades from 1,131 shops abroad. It stated worldwide markets remained difficult, however it noticed some restoration within the Center East in direction of the top of its 2017-18 yr.



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A whole lot of mainland ladies threaten authorized motion over HPV vaccine scarcity in Hong Kong – NEWPAPER24

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Newpaper24 - Global online News around the World 0b44f70e-5a89-11e8-a7d9-186ba932a081_image_hires_180958 A whole lot of mainland ladies threaten authorized motion over HPV vaccine scarcity in Hong Kong - NEWPAPER24

A whole lot of mainland ladies threaten authorized motion over HPV vaccine scarcity in Hong Kong

2018-05-21 10:00:30


A whole lot of mainland Chinese language ladies are threatening authorized motion in opposition to Hong Kong clinics after they have been advised they might not be capable of full a course of vaccines to forestall cervical most cancers due to a scarcity of the jabs.

The ladies have arrange a number of discussion groups on mainland social media to complain in regards to the scarcity in a minimum of 5 personal clinics in Hong Kong. On WeChat, the discussion groups for every of the medical centres had about 400 to 500 members.

The ladies paid for a course of three pictures of the vaccine Gardasil 9 at privately-run clinics within the metropolis to immunise in opposition to the human papilloma virus (HPV), which creates lesions and will increase the danger of cervical most cancers.

Extra women to get free HPV pictures as Hong Kong expands vaccination scheme

However many ladies had just one or two jabs earlier than the clinics knowledgeable them final week in regards to the scarcity. The clinics didn’t know when extra inventory of vaccine would arrive, they mentioned.

One of many ladies hit by the scarcity is Flora Yang, 22, from Shenzhen, simply throughout the border from Hong Kong.

She obtained her first dose of the vaccine in mid April on the Inspiro Medical Centre in Mong Kok and made appointments to take her second dose in August. Newpaper24 - Global online News around the World  A whole lot of mainland ladies threaten authorized motion over HPV vaccine scarcity in Hong Kong - NEWPAPER24

Yang paid HK$6,500 (US$830) for her therapy, however mentioned the clinic later advised her it doesn’t have the vaccines for the second and third pictures.

“I’m frightened that I can’t obtain my second and third dose throughout the perfect interval of 1 yr,” Yang mentioned.

“The clinic unilaterally determined to terminate the contract. This made my time and cash spent on taking the primary dose ineffective.

“I didn’t settle for a refund. I’m very offended with this clinic, We paid the cash for 3 doses, so the clinic ought to put together the three doses for us.”

A whole lot of ladies who booked the vaccines on the Mong Kok clinic have arrange a chat group on WeChat to debate their circumstances.

Calls made to the medical centre by telephone over the previous a number of days by the South China Morning Publish went unanswered.

Hundreds set to profit from Hong Kong’s free HPV vaccination programme

Different Hong Kong medical centres hit by the scarcity of vaccines embrace Trendy Medical Service, M J Life, re-Well being, High quality Well being Care and the Goodwill clinics.

Girls posting to the discussion groups mentioned they have been making an attempt to publicise their circumstances on the web and had written formal complaints to the authorities in Hong Kong, together with the Chief Govt’s Workplace, the Division of Well being and the Shopper Council.

In addition they threatened to take authorized motion in Hong Kong in opposition to the clinics for breach of contract.

One other lady who paid for the course of vaccines on the Inspiro clinic mentioned an agent advised her they might discover provides of the vaccine in Hong Kong – however one dose would now value HK$3,500 because of the shortages.

The value is considerably increased than the conventional cost of barely greater than HK$2,000.

“I really feel [the Hong Kong authorities} are kicking the ball to one another,” mentioned the Hunan native, who gave her title solely as Gigi. “The Chief Govt’s Workplace advised us to seek out the Division of Well being, however the latter mentioned they don’t supervise personal clinics. The Shopper Council hasn’t responded to our complaints.”

Docs suggest that girls ought to ideally full the vaccine course inside one yr.

Hong Kong’s Division of Well being mentioned it has obtained queries from the general public in regards to the scarcity of the vaccines.

“Enquirers are suggested to seek the advice of their household physician if they’ve queries on the vaccination and make contact with the Shopper Council in the event that they want to lodge complaints on shopper rights,” it mentioned in a written reply to queries from the Publish.

Self-testing urged to chop fee of cervical most cancers in Hong Kong

The Hong Kong Shopper Council obtained 444 complaints about vaccine delays final yr and most concerned HPV jabs, in keeping with figures from the council. It had obtained 195 comparable complaints about delays to vaccine provides as of Might 14 this yr.

Gardasil 9 is made by the US drug firm Merck – referred to as MSD outdoors the US and Canada – and the corporate issued a discover in Hong Kong on the finish of final month warning of shortages of the vaccine.

“As a result of continued enhance in world demand for Gardasil 9, we predict provide constraints in Hong Kong to proceed for the rest of 2018,” it mentioned. Newpaper24 - Global online News around the World  A whole lot of mainland ladies threaten authorized motion over HPV vaccine scarcity in Hong Kong - NEWPAPER24

A Hong Kong-based spokeswoman mentioned there had been issues assembly demand for the vaccines in lots of nations world wide for the previous two years.

A part of the demand in Hong Kong got here from ladies crossing the border from the mainland, in keeping with Neil Wang, better China president for the advertising consulting agency Frost & Sullivan.

An earlier type of the vaccine has been utilized in Western nations for a couple of decade, however was solely permitted in China in 2016. The newest model, Gardasil 9, was placed on the Hong Kong market in 2016 and was solely permitted by mainland regulators final month.

State tv in China reported that Gardasil 9 was anticipated to be first accessible in Hainan province as early as the tip of this month.

There have been 107,400 circumstances of cervical most cancers in mainland China final yr, in contrast with 98,500 in 2013, in keeping with Wang.



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ERP charges on some roads to be diminished for June college holidays – NEWPAPER24

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Newpaper24 - Global online News around the World erp-gantry---2458432 ERP charges on some roads to be diminished for June college holidays - NEWPAPER24

ERP charges on some roads to be diminished for June college holidays

2018-05-21 06:45:34

SINGAPORE: The Digital Highway Pricing (ERP) charges for some roads and expressways shall be diminished by as much as S$1 for the June college holidays, the Land Transport Authority (LTA) introduced on Monday (Might 21).

For all affected roads and expressways, the fees shall be diminished by S$1 per Passenger Automobile Unit (PCU), and eliminated fully the place the present ERP charge is S$0.50 per PCU, in the course of the specified time intervals. 

The revised charges will apply from Might 26 to Jun 24, and can revert to pre-school vacation interval charges from Jun 25.

​​​​​​​​​​​​​​The charges for different gantries will stay unchanged, added the LTA. The subsequent quarterly evaluation will happen in August. 



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Abuses pushed Malaysia’s debt over RM1 trillion, says PM Mahathir – NEWPAPER24

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Newpaper24 - Global online News around the World file-photo--malaysia-s-pm-razak-and-wife-rosmah-mansor-arrive-at-the-bali-nusa-dua-convention-center-before-the-opening-ceremony-of-the-asean-summit-in-nusa-dua--bali-1 Abuses pushed Malaysia's debt over RM1 trillion, says PM Mahathir - NEWPAPER24

Abuses pushed Malaysia’s debt over RM1 trillion, says PM Mahathir

2018-05-21 08:33:03

KUALA LUMPUR: Malaysia is saddled with greater than RM1 trillion (US$251.70 billion) in debt, Prime Minister Mahathir Mohamad stated on Monday (Might 21), blaming the earlier authorities led by former protege Najib Razak who now faces home graft investigations.

Mahathir, 92, led an opposition coalition to a spectacular win over Najib’s beforehand undefeated ruling alliance in a normal election on Might 9, having campaigned aggressively over folks’s rising residing prices and a multi-billion greenback scandal at state fund 1Malaysia Improvement Berhad (1MDB).

“We discover that the nation’s funds for instance, was abused in a means that now we face hassle settling money owed which have risen to a trillion ringgit,” Mahathir stated when talking for the primary time to workers of the prime minister‘s workplace.

“Now we have by no means needed to cope with this earlier than. Earlier than we by no means confronted money owed increased than 300 billion ringgit, however now it has climbed to 1 trillion ringgit,” Mahathir stated.

In his first week in cost, Mahathir introduced {that a} broad-based items and companies tax (GST) can be zero-rated from Jun 1, as his authorities works to switch it with a reinstated gross sales and companies tax (SST).

Mahathir had additionally promised to reintroduce gas subsidies apart from removing GST, all a part of his coalition’s pledge to tamp down rising residing prices.

Mahathir’s fiscal measures, nonetheless, would widen Malaysia’s fiscal deficit and are credit score adverse with none offsetting measures, in accordance with scores company Moody’s.

Najib’s authorities had deliberate to gather RM43.eight billion (US$11.05 billion) in 2018 in GST, about 18 per cent of whole income.

Throughout the election marketing campaign, Najib had warned that Mahathir’s financial proposals would lead to debt ballooning to greater than RM1 trillion.

Najib additionally rebutted opposition claims that federal debt had risen to alarming ranges below his governance, and stated that debt amounted to about 50.9 per cent of its GDP at June 2017, which was beneath the federal government’s restrict of 55 per cent.

Mahathir stated final week that most of the figures recording the nation’s monetary place could also be false.

Malaysia’s anti-graft company has summoned Najib to offer a press release on Tuesday in reference to a probe on SRC Worldwide, a former unit of 1MDB.

The summons got here days after police raided six premises linked to the previous prime minister as a part of investigations into the state funding fund that Najib based in 2009.

Among the many objects seized embrace 284 bins of designer purses and dozens of baggage full of money and jewelry, from a luxurious condominium within the centre of Kuala Lumpur linked to Najib.



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