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FORT LAUDERDALE, Fla. , Dec. 5, 2024 /PRNewswire/ -- SaferWatch, a leader in advanced safety and security solutions, has unveiled its comprehensive Executive Protection service , designed to provide unmatched security for high-profile individuals and their teams. With state-of-the-art LTE panic buttons, 24/7/365 professional monitoring, and direct connection to local law enforcement, SaferWatch is setting a new standard in personal and professional safety. At the heart of this service are the SaferWatch LTE panic buttons, which allow users to communicate live with local law enforcement and the SaferWatch monitoring center at any time, from anywhere in the United States . These discreet, portable devices ensure that assistance is only a button press away, providing peace of mind in any situation. Key features of SaferWatch's Executive Protection solution include: "Executive protection requires a level of reliability and precision that traditional security methods often cannot provide," said Geno Roefaro , CEO of SaferWatch. "With our integrated solutions, we're empowering individuals and their security teams to stay connected, protected, and prepared, no matter where they are." SaferWatch's innovative approach not only enhances physical security but also integrates seamlessly with existing protocols, making it an indispensable tool for executives, public figures, and other high-risk individuals. For more information about SaferWatch's Executive Protection service or to schedule a demo, visit www.saferwatchapp.com . About SaferWatch SaferWatch is a leading safety and security platform dedicated to empowering individuals, organizations, and communities with innovative tools to enhance safety. From schools and businesses to law enforcement and personal protection, SaferWatch delivers reliable, technology-driven solutions that save lives. View original content to download multimedia: https://www.prnewswire.com/news-releases/saferwatch-elevates-executive-protection-with-247365-monitoring-live-communication-and-direct-law-enforcement-connectivity-302324321.html SOURCE SaferWatchAndrews Sykes Group plc ( LON:ASY – Get Free Report ) shares hit a new 52-week low during trading on Friday . The stock traded as low as GBX 480 ($6.04) and last traded at GBX 503.40 ($6.33), with a volume of 143 shares traded. The stock had previously closed at GBX 496.50 ($6.25). Andrews Sykes Group Stock Up 1.4 % The stock has a market cap of £210.72 million, a P/E ratio of 1,227.80 and a beta of 0.47. The company has a current ratio of 2.11, a quick ratio of 3.08 and a debt-to-equity ratio of 34.80. The firm’s fifty day moving average is GBX 517.74 and its 200 day moving average is GBX 543.60. About Andrews Sykes Group ( Get Free Report ) Andrews Sykes Group plc, an investment holding company, engages in the hire, sale, and installation of environmental control equipment in the United Kingdom, rest of Europe, the Middle East, Africa, and internationally. The company operates through Hire and Sales UK, Hire and Sales Europe, Hire and Sales Middle East, and Installation and Maintenance segments. See Also Receive News & Ratings for Andrews Sykes Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Andrews Sykes Group and related companies with MarketBeat.com's FREE daily email newsletter .
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Trump says he can't guarantee tariffs won't raise US pricesQ3 Sales and operating results better than guidance Q3 Sales increase of 7% represents sequential improvement for the fifth consecutive quarter Raises full year 2024 outlook and provides fourth quarter guidance REYNOLDSBURG, Ohio, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Victoria’s Secret & Co. (“Victoria’s Secret” or the “Company”) (NYSE: VSCO) today reported financial results for the third quarter ended November 2, 2024. Chief Executive Officer Hillary Super commented, “I am very encouraged by the strength of our third quarter business and the positive, early customer response to our holiday merchandise assortments. Sales increased 7% for the quarter, with mid-single digit growth in North America and 20+% growth from our International business. Our sales performance was well ahead of our expectations, and our best quarterly sales growth since 2021. Our strength for the quarter was broad based across all regions, all channels, all major merchandise categories and importantly all brands - Victoria’s Secret, PINK and Adore Me - were up to last year. We won the major moments during the quarter, starting with PINK back to campus in August, followed by our VSX sport launch in September and finishing the quarter with the return of the VS Fashion Show in October. I am particularly optimistic because these results were powered by emotional products she loves and clear, elevated brand marketing and storytelling. Our strength in sales and disciplined inventory management translated to strong margins which were up to last year, and our teams continue to be relentless on controlling costs in our business. I want to thank our VS&Co team whose passion for our brands and commitment to our customers and our transformation fueled these results. It was a great quarter for me to have joined the company and a great quarter to be on the VS&Co team.” Hillary continued, “We are excited to see our momentum from the third quarter continue through Black Friday and Cyber Monday. Our merchandise offering and giftable product assortments are resonating with the customer and driving traffic both in stores and online. The strong product acceptance supported by our best-in-mall store experience and dozens of digital enhancements are driving solid conversion and basket size. As I travel with the teams, I have observed that our stores are often the busiest in the mall and am particularly impressed with how we continue to serve and engage our customers.” Third Quarter 2024 Results The Company reported net sales of $1.347 billion for the third quarter of 2024, an increase of 7% compared to net sales of $1.265 billion for the third quarter of 2023 and above our previously communicated guidance range of a net sales increase of low-single digits. Total comparable sales for the third quarter of 2024 increased 3%. The Company reported a net loss of $56 million, or $0.71 per share for the third quarter of 2024. This result compares to a net loss of $71 million, or $0.92 per share for the third quarter of 2023. Third quarter 2024 operating loss was $47 million compared to $67 million in the third quarter of 2023. Excluding the impact of the items described at the conclusion of this press release, third quarter 2024 adjusted net loss was $39 million, or $0.50 per diluted share, which was better than our previously communicated range of an adjusted net loss of $0.60 to $0.80 per share and better than last year’s third quarter adjusted net loss of $66 million, or $0.86 per share. Third quarter 2024 adjusted operating loss of $28 million was favorable to our previously communicated guidance of an adjusted operating loss in the range of $40 to $60 million, and last year’s third quarter adjusted operating loss of $60 million. Full Year and Fourth Quarter 2024 Outlook The Company is raising its full year outlook and is now forecasting net sales for the 52-week fiscal year 2024 to be up approximately 1% to 2%, compared to prior guidance of down approximately 1%, to a comparative 52-weeks from fiscal year 2023. The Company estimated the extra week in the fourth quarter of 2023 represented approximately $80 million in net sales. At this forecasted level of sales, adjusted operating income for fiscal year 2024 is now expected to be in the range of $315 million to $345 million, or favorable to prior guidance of $275 million to $300 million. The Company is forecasting net sales for the 13-week fourth quarter 2024 to increase approximately 2% to 4% to a comparative 13-weeks from the fourth quarter of 2023. At this forecasted level of sales, adjusted operating income for the fourth quarter of 2024 is expected to be in the range of $240 million to $270 million. Adjusted net income per diluted share for the fourth quarter of 2024 is estimated to be in the range of $2.00 to $2.30. Forecasted adjusted operating income and adjusted net income per diluted share for the fourth quarter and full year 2024 exclude the financial impact of purchase accounting items related to the Adore Me acquisition, including expense (income) related to changes in the estimated fair value of contingent consideration and performance-based payments, as well as the amortization of intangible assets. The Company is not able to provide a reconciliation of forward-looking adjusted operating income or adjusted net income per diluted share to the most directly comparable forward-looking GAAP financial measures because the Company is unable to provide a meaningful or accurate reconciliation or estimation of certain reconciling items without unreasonable effort, due to the inherent difficulty in forecasting the timing of, and quantifying, the various purchase accounting items that are necessary for such reconciliation. Quarterly Earnings Conference Call Victoria’s Secret & Co. will conduct its third quarter earnings call at 8:00 a.m. Eastern on Friday, December 6, 2024. To listen, call 1-800-619-9066 (international dial-in number: 1-212-519-0836); conference ID 5358727. For an audio replay, call 1-800-839-1334 (international replay number: 1-203-369-3831); conference ID 2485654 or log onto www.victoriassecretandco.com . The materials accompanying the earnings call have been posted on the Investors section of the Company’s website. The audio replay will be available approximately two hours after the conclusion of the call. About Victoria’s Secret & Co. Victoria’s Secret & Co. (NYSE: VSCO) is a specialty retailer of modern, fashion-inspired collections including signature bras, panties, lingerie, casual sleepwear, athleisure and swim, as well as award-winning prestige fragrances and body care. VS&Co is comprised of market leading brands, Victoria’s Secret and PINK, that share a common purpose of supporting women in all they do, and Adore Me, a technology-led, digital first innovative intimates brand serving women of all sizes and budgets at all phases of life. We are committed to empowering our more than 30,000 associates across a global footprint of 1,380 retail stores in nearly 70 countries. We strive to provide the best products to help women express their confidence, sexiness and power and use our platform to celebrate the extraordinary diversity of women’s experiences. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 We caution that any forward-looking statements (as such term is defined in the U.S. Private Securities Litigation Reform Act of 1995) contained in this press release or made by us, our management, or our spokespeople involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements, and any future performance or financial results expressed or implied by such forward-looking statements are not guarantees of future performance. Forward-looking statements include, without limitation, statements regarding our future operating results, the implementation and impact of our strategic plans, and our ability to meet environmental, social, and governance goals. Words such as “estimate,” “commit,” “will,” “target,” “goal,” “project,” “plan,” “believe,” “seek,” “strive,” “expect,” “anticipate,” “intend,” “continue,” “potential” and any similar expressions are intended to identify forward-looking statements. Risks associated with the following factors, among others, could affect our results of operations and financial performance and cause actual results to differ materially from those expressed or implied in any forward-looking statements: we may not realize all of the expected benefits of the spin-off from Bath & Body Works, Inc. (f/k/a L Brands, Inc.); general economic conditions, inflation, and changes in consumer confidence and consumer spending patterns; market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises or other major events, or the prospect of these events; our ability to successfully implement our strategic plan; difficulties arising from turnover in company leadership or other key positions; our ability to attract, develop and retain qualified associates and manage labor-related costs; our dependence on traffic to our stores and the availability of suitable store locations on satisfactory terms; our ability to successfully operate and expand internationally and related risks; the operations and performance of our franchisees, licensees, wholesalers and joint venture partners; our ability to successfully operate and grow our direct channel business; our ability to protect our reputation and the image and value of our brands; our ability to attract customers with marketing, advertising and promotional programs; the highly competitive nature of the retail industry and the segments in which we operate; consumer acceptance of our products and our ability to manage the life cycle of our brands, remain current with fashion trends, and develop and launch new merchandise, product lines and brands successfully; our ability to realize the potential benefits and synergies sought with the acquisition of AdoreMe, Inc.; our ability to incorporate artificial intelligence into our business operations successfully and ethically while effectively managing the associated risks; our ability to source materials and produce, distribute and sell merchandise on a global basis, including risks related to: political instability and geopolitical conflicts; environmental hazards and natural disasters; significant health hazards and pandemics; delays or disruptions in shipping and transportation and related pricing impacts; and disruption due to labor disputes; our geographic concentration of production and distribution facilities in central Ohio and Southeast Asia; the ability of our vendors to manufacture and deliver products in a timely manner, meet quality standards and comply with applicable laws and regulations; fluctuations in freight, product input and energy costs; our and our third-party service providers’ ability to implement and maintain information technology systems and to protect associated data and system availability; our ability to maintain the security of customer, associate, third-party and company information; stock price volatility; shareholder activism matters; our ability to maintain our credit rating; our ability to comply with regulatory requirements; and legal, tax, trade and other regulatory matters. Except as may be required by law, we assume no obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events, even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in “Item 1A. Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 22, 2024. Total Net Sales (Millions): 1 – Results include consolidated joint venture sales in China, royalties associated with franchised stores and wholesale sales. Comparable Sales Increase (Decrease): NOTE: Please refer to our filings with the Securities and Exchange Commission for further discussion regarding our comparable sales calculation. 1 – Results include company-operated stores in the U.S. and Canada, consolidated joint venture stores in China and direct sales. 2 – Results include company-operated stores in the U.S. and Canada and consolidated joint venture stores in China. Total Stores: 1 – Includes twelve partner-operated stores at 11/2/24.
After Trump's win, Black women are rethinking their role as America's reliable political organizersBreyten Breytenbach, who died Sunday, was one of South Africa's most honoured writers, who found beauty in his Afrikaans language but was horrified at the white supremacy imposed by his government. The poet, author and painter had not lived in South Africa for decades, leaving in the early 1960s to settle in Paris, where he became a global voice against apartheid. What was intended to be a short and secret trip back in 1975 led to him spending seven years in jail, two in solitary confinement, after he was betrayed and arrested. French president Francois Mitterrand helped secure his release in 1982 and he returned to France to become a citizen. He travelled back to South Africa regularly, according to his daughter Daphnee Breytenbach, who confirmed his death to AFP. "My father, the South African painter and poet Breyten Breytenbach, died peacefully on Sunday, November 24, in Paris, at the age of 85," she said. "Immense artist, militant against apartheid, he fought for a better world until the end." Breytenbach was born in the small Western Cape town of Bonnievale in 1939 at a time when Afrikaans was emerging with a distinct identity as a language, having been derided as "kitchen Dutch". When in 1964 Breytenbach published his first volume of poetry -- "Die ysterkoei moet sweet", or The Iron Cow Must Sweat -- Afrikaans was not just ascendent but had given the name "apartheid" to South Africa's brutal system of racial segregation. With Afrikaners in power, their language became ever more associated with the regime. "I'd never reject Afrikaans as a language, but I reject it as part of the Afrikaner political identity. I no longer consider myself an Afrikaner," he said in an interview with The New York Times the following year. In his language and politics, Breytenbach pushed back against the strictures of the country in which he was born. He travelled around Europe in his early 20s, eventually settling in 1962 in Paris, where he met his wife, Yolande Ngo Thi Hoang Lien, who was born in Vietnam and raised in France. She was refused a visa to visit South Africa in the late 1960s as she was considered "non-white" by the apartheid system. Breytenbach returned to the country in the early 1970s on a false passport to deliver money to the anti-apartheid struggle and meet white activists. But he was discovered and sentenced to nine years in prison, serving seven. Of his more than 50 books, most are in Afrikaans. His acclaimed 1984 prison memoir, "The True Confession of an Albino Terrorist", is in English. In the book, he recalls the horrors of hearing fellow inmates being hanged, often for political crimes. "Very often –- no, all the time really –- I relive those years of horror and corruption, and I try to imagine, as I did then with the heart an impediment to breathing, what it must be like to be executed. What it must be like to be. Executed," he wrote. His path crossed once, briefly, with another famous inmate. Nelson Mandela was for a time transferred from Robben Island to Pollsmoor prison in Cape Town, where Breytenbach was serving his time. The writer was tasked with preparing new prison clothes for the future president. Breytenbach eventually turned to painting to portray surreal human and animal figures, often in captivity, with his art displayed in Johannesburg, Brussels, Amsterdam, Hong Kong and Paris. His literature gathered several prizes, including the international Zbigniew Herbert International Literary Award (2017), the Mahmoud Darwish Literature Prize (2010) and the Van der Hoogt prize for Dutch literature (1972). "His poems are rich in metaphors and are a complex mixture of references to Buddhism, Afrikaans idiomatic speech, and memories of the South African landscape," according to the Hague-based Writers Unlimited foundation. For all his activism, when democracy arrived in 1994, the older and gray-bearded Breytenbach did not return to embrace the new South Africa. He wrestled with the failings of the democratic government, even with Mandela, despairing at what he called in Harpers magazine in 2008 the "seemingly never-ending parade of corrupt clowns in power at all levels". Breytenbach also taught at the University of Cape Town, the Goree Institute in Dakar and New York University. zm-gs-br/lhd/jsEAST RUTHERFORD, N.J. (AP) — Tampa Bay Buccaneers quarterback Baker Mayfield embarrassed the woeful Giants with his arm and legs, and if that wasn't enough, he rubbed it in by mimicking New York fan favorite Tommy DeVito's celebratory dance after scoring a touchdown. Mayfield catapulted into the end zone on a spectacular 10-yard scramble for one of Tampa Bay's four rushing TDs, and the Buccaneers beat the Giants and new starting quarterback DeVito 30-7 on Sunday, snapping a four-game losing streak and extending New York's skid to six.
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United Front: Trump's Transition Team Tackles National SecurityGUANGZHOU, China, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Highest Performances Holdings Inc. (NASDAQ: HPH) ("HPH” or the "Company”), today announced that it has received written notification from the staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq”), dated November 21, 2024, indicating that for the last 35 consecutive business days, the closing bid price for the Company's American depositary shares (the "ADSs”) was below the minimum bid price of US$1.00 per share requirement set forth in Nasdaq Listing Rules 5450(a)(1). The Nasdaq notification letter has no current effect on the listing or trading of the Company's securities on the Nasdaq Global Market. Pursuant to the Nasdaq Listing Rules 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until May 20, 2025, to regain compliance under the Nasdaq Listing Rules. If at any time during the 180-day compliance period, the closing bid price of the Company's ADSs is US$1.00 per share or higher for a minimum of ten consecutive business days, the Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. In the event that the Company does not regain compliance by May 20, 2025, subject to the determination by the staff of Nasdaq, the Company may be eligible for an additional 180-day compliance period if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the minimum bid price requirement. In this case, the Company will need to provide written notice of its intention to cure the deficiency during the second compliance period, including by effecting a reverse stock split, if necessary. The Nasdaq notification letter will have no effect on the Company's business operations, and the Company will take all reasonable measures to regain compliance. About HPH Founded in 2010 and formerly known as Puyi Inc., we have evolved with a vision to become a leading provider of intelligent technology-driven family and enterprise services. Our mission is to enhance the quality of life for families worldwide by leveraging two primary driving forces: technological intelligence and capital investments. We are dedicated to investing in high-quality enterprises with global potential, focusing on areas such as asset allocation, education and study tours, healthcare and elderly care, and family governance. We currently hold controlling interests in two leading financial service providers in China. The first is AIX Inc., a technology-driven independent financial service platform traded on the Nasdaq. The second is Puyi Fund Distribution Co., Ltd., an independent wealth management service provider. Highest Performances Holdings Inc., formerly known as Puyi Inc., was renamed on March 13, 2024 to reflect its strategic transformation. Forward-looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When HPH uses words such as "may”, "will”, "intend”, "should”, "believe”, "expect”, "anticipate”, "project”, "estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from HPH's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: HPH's ability to obtain proceeds from the Agreement; HPH's goals and strategies; HPH's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the third-party wealth management industry in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets HPH serves and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by HPH with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in HPH's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. HPH undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. CONTACT: For more information, please contact: Highest Performances Holdings Inc. Tel: +86-20-28866499 Email: [email protected] Highest Performances Holdings Inc.Crystal Maker Swarovski To Enter Fragrance Market
Colts coach Shane Steichen feeling heat after playoff eliminationS.Africa's Breyten Breytenbach, writer and anti-apartheid activistThe neglected southern side of Bourke Street Mall is undergoing a transformation with new hotels, shops and “the Mecca of all Meccas” getting closer to completion. The $150 million Melbourne Walk hotel and retail development in the former Walk Arcade building and Mecca’s giant flagship store in the former David Jones building are both on track to open next year. CEO and founder of Mecca Jo Horgan at Mecca’s Sydney boutique. She is opening what she believes will be the biggest beauty store in the world in Bourke Street Mall. Credit: Louise Kennerley Bourke Street Mall, once a prized shopping strip, experienced some lean years after Walk Arcade closed in 2020 and was left empty, and then David Jones shut its menswear store in 2022 . Jo Horgan, founder and chief executive of Mecca , said she believed the Bourke Street Mall Mecca store would be the biggest dedicated beauty store in the world when completed and would become a destination in its own right. “27 years later everything we have done before has culminated in us opening what we hope will be the Mecca of all Meccas,” she said. “I have always been foolishly optimistic and I totally believe in people and consumers and I think if we build it, they will come.” Loading Mecca’s store will span three floors and 4000 square metres stocking more than 200 beauty brands. Advertising firm Clemenger will occupy the floors above Mecca. The store will house a perfumeria dedicated to fragrances, an apothecary wellness hub, a salon for make-up, hair and nail services and ‘Meccaversity’ – a 150-seat educational space for Mecca staff and customers housed in a suspended pod installed on the first floor of the building. Horgan said signing up in the middle of COVID lockdowns to a very complicated project came with its challenges, especially with an “old, culturally significant building”. The site first housed the Coles Book Arcade, a three-storey book store that was once the largest bookstore in the world. “We fell in love with the site, Coles was the largest bookstore in the world, there was a romance in going from the largest bookstore to the largest beauty store,” Horgan said. The former David Jones store is being transformed into a Mecca store on three levels. Credit: Justin McManus However, Mecca’s redevelopment is running behind schedule with a key permit only lodged with Heritage Victoria this month. Horgan said her team got handover in September and “we are now like women possessed to launch it within the timeframe allowed to our build”. “The driving sentiment of the whole team is: how spectacular can we make it, how can we imagine the future of beauty,” she said. “We are so motivated to create an ode to beauty or a Mecca to beauty which will really compel people to make the pilgrimage.” Next door, on a walk through of the Melbourne Walk site, project manager Michael Jansen from builder Hickory said the majority of development had historically always been on the northern side of the Bourke Street Mall. Teck-Lay Tay, executive director of developer Steadfast Capital, and Hayden Djakic, of architecture firm Buchan, inside the Melbourne Walk development. Credit: Simon Schluter “This is the first time that we’re seeing multiple developments, redevelopments, repositioning of assets on the southern side of Bourke Street Mall,” he said. “It’s actually bringing the southern side of the Bourke Street Mall back into play. There’s always been retail over this side, but all the big new shiny objects have always been on the northern side.” Jansen said David Jones moving its menswear department across the road to the southern side of the Bourke Street Mall had opened up the precinct for redevelopment to occur. Melbourne Walk will house two hotels, Hotel Indigo and a Holiday Inn, alongside several stores, including flagship tenant JD Sports. Hayden Djakic, associate at architecture practice Buchan, said the design team wanted to introduce something “quite different” to Melbourne. An artist’s rendering of the Melbourne Walk redevelopment in Bourke Street Mall. “This is really the melting pot of Melbourne, the fine-grain retail itself, where an arcade really celebrates a part of our city and the larger retail of the north amongst Myer, Emporium and David Jones,” he said. “The arcade itself is really a nod to the arcades of old, the likes of the Royal and Block arcades, by taking a modern approach to the classical formation architecture.” The Melbourne Walk team had to remove layers of “pigeon guano” (excrement) from the site before construction could begin. “The building was not occupied from the ground floor up, [since 1980] so we had 10 storeys of pigeons,” Djakic said. Hayden Djakic and Teck-Lay Tay outside the Melbourne Walk site in the Bourke Street Mall. Credit: Simon Schluter Teck-Lay Tay, executive director of Steadfast Capital, said the new developments turned the mall into more of a precinct. “If you look at the next development that’s next door to us [Mecca], David Jones and St Collins Lane, the vision is to have a shopping precinct,” he said. “We invigorate Bourke Street Mall and when the tenants all come in ... it’ll be a very attractive destination for everyone.” Lord mayor Nick Reece said the mall had its ups and downs over Melbourne’s history, but it was now on the up again. “Bourke Street Mall is the most central block in the Hoddle grid, and since the earliest days of Melbourne has been a focus for retail and city life, and so to see it taking on a new lease of life now with these new projects coming online, is a fantastic milestone for Melbourne,” Reece said. Start the day with a summary of the day’s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter . Save Log in , register or subscribe to save articles for later. License this article City life For subscribers Planning City of Melbourne Retail Nick Reece Cara Waters is the city editor for The Age. Connect via Twitter , Facebook or email . Most Viewed in National Loading
The Enforcement Directorate (ED) has named a Russian national Pavel Prozorov as the principal accused in the operations of OctaFx. This forex trading platform allegedly defrauded Indian investors with Rs 800 crore. The Mumbai ED filed a prosecution complaint against OctaFx, under the Prevention of Money Laundering Act (PMLA) Act. This followed an investigation based on an FIR registered on December 8, 2021, by Shivaji Nagar police station, Pune, against multiple individuals involved with the firm. The investigation revealed that OctaFX, owned by the 42-year-old Russian, was at the centre of a fraudulent scheme that involved collecting funds from Indian investors under the pretence of Forex trading, to Rs 800 crore, from its operations in India within nine months. According to the ED, the forex trading platform manipulated trade activities, inducing huge losses for Indian investors. The ED also alleges that OctaFX diverted the defrauded funds into accounts and e-wallets owned by dubious entities. The ED claims that OctaFX’s platforms frequently changed their login URLs and web addresses, to “obscure fraudulent activities from investors.” The ED found that OctaFx utilized fin-tech employees to create mule accounts linked to shell companies and fake e-commerce websites, to obtain payment gateway access to route the investor money abroad, by faking imports and freight services. The company smashed its way into the Indian market through aggressive marketing, including, sponsoring an Indian Premier League (IPL) team, and engaging in paid endorsements with various influencers and celebrity personalities. The Enforcement Directorate has so far conducted multiple searches in multiple locations and has attached and seized assets worth Rs 165 crore approximately, including 19 immovable properties in Spain, owned by Pavel Prozorov. According to the UK government’s company directory, Pavel Prozorov lives in Spain, and his company registered in the UK, by the name OCTA Markets UK LTD has a dissolved-company status.Bryce Underwood NIL money, explained: What to know about Michigan's 'Champions Circle' behind $10.5M recruiting flip | Sporting NewsFS Credit Opportunities Corp. (FSCO) Declares Distribution for December 2024
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