Better Capital boss Jon Moulton on Brexit, his firm’s exit and why he still hasn’t forgiven Liam Fox

Better Capital boss Jon Moulton on Brexit, his firm’s exit and why he still hasn’t forgiven Liam Fox “We made a very bad decision to go in,” he admits frankly. “It’s a very difficult industry to operate in and we underestimated the magnitude of the task. We did our best, lost £20m and moved on.” Shruti Tripathi In a career spanning over 30 years, Moulton has of course had his share of great deals. Bald, bold and bespectacled, private equity veteran Jon Moulton has had more than his fair share of knocks as well as high points during a long career.He was branded the Christmas Scrooge in December 2014 when City Link collapsed into administration leaving nearly 2,700 jobs at risk. Last month, Better Capital agreed a £38m sale of the Walkabout bar chain to Stonegate Pub Company, the owner of restaurant giant Slug & Lettuce.“Probably more visible would be Parker Pens, the company losing something like £20m when we bought it and made £40m when we sold it.”Defence sector to explode in 2017Ask him about sectors that are set for ascendency in 2017 and he points towards the US President-elect’s tenure at the White House as a key factor. The defence industry could be a big winner.“Trump’s arrival on the world is not to be underestimated,” Moulton says gravely. “We are definitely going to see protectionism but perhaps much more concern. The fundamental safety of the world is less than it was. Cold war-type activities with China and Russia and even Mexico look entirely possible.“Trump has very strong views that Europe should be defending itself. I actually think defence is an area which will be really quite buoyant over the next couple of years as European countries have to get themselves some armies.”Read more: Trump wants to seal a new trade deal with the UK “very quickly”Brexit could boost LondonMoulton has an answer for every question under the sun ­– apart from what Brexit will look like.“I don’t have a clue. I don’t think anyone else has it either. There’s no chance we’re going to end up with anything but quite a hard-ish Brexit. What Mrs May is trying to do at the moment, I don’t know – not sure she does either.”However, he suspects London could emerge as the winner of Brexit.“One thing Europe definitely has done is generate absolutely ludicrous regulation. If London can attract the rest of the world to a more sensible system then that could actually be quite a big upside. Bear in mind, Europe doesn’t look very stable at the moment. London could remain strong with a stronger regulatory environment and suck capital and financial services.”Why Moulton won’t forgive Liam FoxThat brings us to the awkward topic of Brexit-backing international trade secretary Liam Fox. In 2011, Foxresigned from the government following allegations surrounding the then-defence secretary’s former flatmate Adam Werritty.Moulton was dragged into the story when it emerged he had given a £35,000 donation to a charity set up by Werritty. Moulton passed on all the evidence of the communication about the donation to then cabinet secretary Gus O’Donnell, saying at the time he felt he’d been “mugged”.Moulton finds it quite “remarkable” that “no one seems to actually vet the reasons he left the cabinet as having any validity at all now”. He says he hasn’t forgiven Fox.And in Moulton’s eyes, Fox is no great trade secretary either.“I think he is just a loud voice but I’m not sure he’s been a very intellectual voice. I’m not sure how much grasp he’s got of it. His strengths were historically US relationships and he certainly hasn’t got those now.”So what’s Moulton going to do after 2018?“I’m going to try and live for a start,” he says but in the same breath he lists numerous positions he holds including chairman of the Channel Islands Stock Exchange.“I’m 66 and entitled to take a bit of a slower view,” he says. So, what is serial dealmaker Moulton going to buy next? He won’t divulge details but it will be a “medium-sized engineer in the UK” that he will personally buy as he looks to wind up Better Capital, which he set up in 2009, next year.“We prepared to wind down Better Capital since we started it.“It did have finite life. People seem to find this concept rather strange but it was set up to eventually evaporate. The original intention was that the first fund would be dead by about 2018 and it seems likely to achieve that. We are not raising another turnaround fund, there’s little available in the turnaround world anyway.” Moulton blames the heavy discounting witnessed on the high street for the sector’s troubles.“Everyone seems to be offering clothes at minus 70 per cent and that really is a nuisance because it destroys the image of your brand, it is hurting lots of retailers. Even Burberry is not having an easy time.”Read more: Private equity guru Jon Moulton considered buying BHS and Austin ReedBut he still believes in the brand. “We regularly get approached for Jaeger, there’s a lot of interest in the brand,” Moulton declares defiantly when quizzed on whether the iconic British brand has lost its place in the fashion world.“We don’t see it going into administration otherwise we wouldn’t be sitting here. From reducing prices of the clothes to shutting shops, we’ve considered all the options you could imagine.” whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndoUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoPensAndPatronTori Roloff Confirms Sad Family NewsPensAndPatronUndo Monday 16 January 2017 1:10 am whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPuffer fish snaps a selfie with lucky divernypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comConnecticut man dies after crashing Harley into live bearnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com Share “I’ve done quite a few deals where £2 has ended up as very large number.” Apart from City Link, the other deal for which Moulton is most known is his failed attempt to buy MG Rover which was snapped up by the “Phoenix Four” and resulted in the company going bust in 2005.The worst deal he ever made, according to him, is actually one that reaped a lot of money while he was at Schroder Ventures from 1985 to 1994.“We funded a company called Newbridge Networks and sold out four years later for something like four times the money it was listed. If I had waited another year, it would’ve been 72 times the money. That’s the most expensive decision I’ve ever made.”Will Jaeger bomb?Womenswear retailer Jaeger has been something of a thorn in his side. In 2012, Better Capital bought a majority stake in the brand for £19.5m.Last year Jaeger closed three stores including its Regent Street flagship. In October, it opened a two-floor, 2,000 square feet store on Marylebone High Street. read more

Coronavirus: Sadiq Khan urges construction sites to close

first_imgSadiq Khan has called for London construction sites to be closed down in the wake of the government’s effective coronavirus lockdown. Khan and Transport for London (TfL) commissioner Mike Brown moved to suspend work on Crossrail and all TfL work sites today. Stefan Boscia and Catherine Neilan whatsapp A construction worker working on the Thames Tideway scheme walks in south London on March 24, 2020, as Britain’s Chancellor of the Duchy of Lancaster, Michael Gove clarified that major construction work should go ahead but jobs carried out at close quarters in someone’s home would not be appropriate due to the novel coronavirus COVID-19. – Britain was under lockdown March 24, its population joining around 1.7 billion people around the globe ordered to stay indoors to curb the “accelerating” spread of the coronavirus. (Photo by JUSTIN TALLIS / AFP) (Photo by JUSTIN TALLIS/AFP via Getty Images) “Small builders cannot work from home, but without cash grants available now, they risk seeing their livelihoods lost.” A construction worker working on the Thames Tideway scheme walks in south London on March 24, 2020, as Britain’s Chancellor of the Duchy of Lancaster, Michael Gove clarified that major construction work should go ahead but jobs carried out at close quarters in someone’s home would not be appropriate due to the novel coronavirus COVID-19. – Britain was under lockdown March 24, its population joining around 1.7 billion people around the globe ordered to stay indoors to curb the “accelerating” spread of the coronavirus. (Photo by JUSTIN TALLIS / AFP) (Photo by JUSTIN TALLIS/AFP via Getty Images) Also Read: Coronavirus lockdown: Sadiq Khan urges construction sites to close “The industry has issued guidance itself onsite operating procedures through tjhe construction leadership council. Employers and employees should refer to that.” “If construction is there for a safety reason I think that’s critical and it should carry on,” he said. Brian Berry, chief executive of the FMB, said: “Our members want to do the right thing, but the advice coming from government is anything but clear. whatsapp The Prime Minister’s spokesman today sought to clarify the situation. “Construction should continue if can happen in a way that complies with PHE guidance, and practice safe social distancing on site,” he said. Khan told ITV this morning that he thought this was the wrong advice. Boris Johnson announced new police-enforced restrictions last night. These will force people to stay home unless they have to buy basic necessities or seek medical help. People can also leave home to complete exercise once a day or if it is “absolutely necessary” that they have to go work. “I am calling on the government to tell my members, today, whether they can continue to go on site and work. Chancellor Rishi Sunak has yet to announce wage or revenue relief for this band of workers. Share The mayor of London said he disagreed with the government’s ruling that construction sites could stay open and that it would be “very, very difficult” for those workers to follow social distancing instructions. The Federation of Master Builders (FMB) today pleaded for more clarity from the government on whether work sites could stay open. Aslef, the biggest London Underground train drivers’ union, has said if overcrowding continues then too many of their members will get sick and public transport will stop. Many construction workers have been forced to stay on, because they work on zero-hour contracts or are self-employed. He repeated advice to remain two metres apart from other workers at all times. “There’s other health and safety considerations those on site need to think about where they’re sending mixed messages.” Coronavirus lockdown: Sadiq Khan urges construction sites to close A construction worker working on the Thames Tideway scheme walks in south London on March 24, 2020, as Britain’s Chancellor of the Duchy of Lancaster, Michael Gove clarified that major construction work should go ahead but jobs carried out at close quarters in someone’s home would not be appropriate due to the novel coronavirus COVID-19. – Britain was under lockdown March 24, its population joining around 1.7 billion people around the globe ordered to stay indoors to curb the “accelerating” spread of the coronavirus. (Photo by JUSTIN TALLIS / AFP) (Photo by JUSTIN TALLIS/AFP via Getty Images) Also Read: Coronavirus lockdown: Sadiq Khan urges construction sites to close More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Sign up to City A.M.’s Midday Update newsletter, delivered to your inbox every lunchtime However, the types of work that are considered “absolutely necessary” has not been made clear. Tuesday 24 March 2020 1:35 pm Cabinet Office minister Michael Gove told the BBC today that “construction in the open air” could continue. “A lot of construction isn’t critical or essential. A lot of people that have been on a building site – I used to be a labourer and as mayor I visit building sites – it is so hard to be two metres apart. A construction worker working on the Thames Tideway scheme walks in south London on March 24, 2020, as Britain’s Chancellor of the Duchy of Lancaster, Michael Gove clarified that major construction work should go ahead but jobs carried out at close quarters in someone’s home would not be appropriate due to the novel coronavirus COVID-19. – Britain was under lockdown March 24, its population joining around 1.7 billion people around the globe ordered to stay indoors to curb the “accelerating” spread of the coronavirus. (Photo by JUSTIN TALLIS / AFP) (Photo by JUSTIN TALLIS/AFP via Getty Images) Also Read: Coronavirus lockdown: Sadiq Khan urges construction sites to close Show Comments ▼ Scores of construction workers were seen this morning going to work at rush hour, contributing to overcrowding on some Tube lines.last_img read more

BBC stamps out £100m bid from Avalon and Hat Trick to save BBC Three

first_imgPublic service broadcaster the BBC yesterday quashed a £100m rescue bid from two independent TV production groups to take over BBC Three, which is set to become an online-only channel due to funding cuts.Avalon, the maker of Harry Hill’s TV Burp, and Hat Trick, producer of the BBC satirical show Have I Got News for You fronted by Ian Hislop, sent a letter to the BBC Trust last week offering to take over the channel with plans to increase its programme budget and continue broadcasting it.The BBC Trust has yet to formally respond to Avalon and Hat Trick’s offer but just hours after the bid was publicised yesterday the BBC posted a statement that the channel is not for sale, pouring water on any chance of saving BBC Three from an online-only future.“BBC Three is not for sale because it’s not closing. The proposal to move it online is part of a bold move to reinvent the BBC’s offer for young people,” a BBC spokesperson said.The managing directors of the two production firms, Jon Thoday and Jimmy Mulville, have promised to increase the channel’s existing £80m budget to £100m, while the BBC plans to slash it by more than half to just £30m as part of its move to an online-only channel.“All original commissions would be made by UK companies and the channel would continue to be aimed at a young and ethnically diverse audience,” the group added.BBC Three controller Damian Kavanagh also took to the BBC blog yesterday to answer questions and further clarify the future of the channel. In the post Kavanagh reiterated: “BBC Three is not closing and BBC Three is not for sale.”The BBC’s director Tony Hall announced plans for the closure of BBC Three as a broadcast channel last March and for it to operate solely online from Autumn 2015. The BBC Trust yesterday opened up its public consultation on the proposals which are intended to save £50m a year for the broadcaster. Show Comments ▼ whatsapp BBC stamps out £100m bid from Avalon and Hat Trick to save BBC Three by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldGive It LoveRemember These Rare Sisters? See Them NowGive It Lovezenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDVikings: Free Online GameIf you’re over 50 – this game is a must!Vikings: Free Online Game More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org center_img Tuesday 20 January 2015 8:57 pm whatsapp Share Express KCS Tags: BBClast_img read more

Poundland agrees to probe by authorities into 99p Stores deal

first_img POUNDLAND said yesterday it has agreed to proceed with a full-scale investigation by the competition watchdog over its proposed £55m tie-up with 99p Stores. The bargain chain said last month that it was considering whether to continue to pursue the deal or walk away after the Competition and Markets Authority (CMA) raise concerns over 92 areas where it believed a merger could create “a realistic prospect of less competition”.It said a successful deal would mean the newly formed group had just one main competitor, Poundworld, alongside other discount retailers such as B&M, Home Bargains, Wilko and Poundstretcher.“Since then, Poundland has considered its options carefully and today announces that it wishes to proceed with a phase two review,” it said in a statement yesterday.“We look forward to working with the CMA in phase two in order to ensure that we can deliver an improvement in choice, value and service for 99p Stores’ customers,” chief executive Jim McCarthy, said.Poundland, which reached £1bn sales last year, revealed plans to buy the rival discount chain in February. The group has about 600 stores while 99p has around 250 which produce around £370m in annual sales. Express KCS More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comWhite House Again Downplays Fourth Possible Coronvirus Checkvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comPuffer fish snaps a selfie with lucky divernypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Wednesday 6 May 2015 8:57 pm Show Comments ▼ Sharecenter_img whatsapp Poundland agrees to probe by authorities into 99p Stores deal by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesComedyAbandoned Submarines Floating Around the WorldComedyGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent Express whatsapp Tags: NULLlast_img read more

Brookfield wins race to land deal for Center Parcs

first_img whatsapp whatsapp Show Comments ▼ Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunInvestment GuruRemember Cote De Pablo? Take A Deep Breath Before You See Her NowInvestment GuruEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorLearn It WiseAfter Losing 70lbs Susan Boyle Is So Skinny Now She Looks Like A ModelLearn It WiseTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmLivestlyThe Best Redhead Actresses, RankedLivestlyTotal PastThis Was Found Hiding In An Oil Painting – Take A Closer LookTotal Past Express KCS Tuesday 2 June 2015 9:00 pm Brookfield wins race to land deal for Center Parcs CANADIAN investment giant Brookfield yesterday won a hotly contested race to buy UK holiday parks operator Center Parcs from private equity firm Blackstone in a deal worth about £2.4bn. Brookfield, which also bought Canary Wharf’s owner alongside Qatari Investment Authority earlier this year, will take control of five resorts operated by Center Parcs across the UK through its property subsidiary Brookfield Property Partners.Blackstone, which used advisers from Rothschild, Bank of America Merrill Lynch and Morgan Stanley, and lawyers from Freshfields Bruckhaus Deringer, bought Center Parcs in 2006.It was working on a dual track process to either list the group on the stock market or sell it outright to a buyer. The Canada Pension Plan Investment Board and CVC Capital Partners are also said to have been in the running to buy the group.Center Parcs opened its first-ever UK resort, Sherwood Forest in Nottinghamshire, in 1987Alongside Sherwood, Brookfield will take control of the Longleat Forest resort in Wiltshire, Whinfell Forest in Cumbria, the Elveden Forest resort in Suffolk and Woburn Forest in Bedfordshire.It marks the second trophy acquisition by Brookfield in the UK, after the Canary Wharf takeover in April. Center Parcs boss said the deal marked the “beginning of an exciting new chapter” for the company. “From the first time we met, Brookfield has demonstrated a real understanding of our business, and I am absolutely convinced that we can work together to achieve our strategic goals,” he added. Gerry Murphy, chairman of Blackstone’s international arm said: “Having bought Center Parcs in 2006 and invested in its growth, it has been an excellent investment for us. “We are sure that it will go on to even greater success under new ownership. The management and employees of Center Parcs are outstanding and will take the business on to a new chapter in its story.” Center Parcs reported revenues of £314.6m for the year ending April 2014. It has managed average occupancy rates of 97 per cent over the last five years, as cash strapped holiday makers shun foreign jaunts for so-called staycations in the UK.BEHIND THE DEALDAVID HIGGINS – FRESHFIELDS BRUCKHAUS DERINGER1 Higgins is the co-head of magic circle Freshfields’ global financial investors sector group, focusing on private equity deals and sovereign wealth funds.2 His long-standing clients include Blackstone, Government of Singapore Investment Corporation and Cinven, who he has advised on a host of takeovers.3 The lawyer is currently a corporate partner at Freshfields. He made partner in 2001Also advising…On the legal side, Freshfields senior associate James Scott also advised Blackstone. Partners Simone Bono, Marcus Mackenzie and Michael Steele advised on financing aspects of the deal. Tags: NULLlast_img read more

Disease risk rises for health care workers exposed to radiation on the job

first_img Long hours, grim tasks: Doctors in training face high risk of depression By Jennifer Adaeze Okwerekwu April 12, 2016 Reprints Jennifer Adaeze Okwerekwu Related: You’ll want to know:The study highlighted a “graded relationship” in the prevalence of disease, explained Dr. Sripal Bangalore, an interventional cardiologist at New York University’s Langone Medical Center who wasn’t involved in the research. There was a higher prevalence of disease in those workers who stood closest to the source of radiation: Physicians were more at risk than than nurses, who in turn were more at risk than techs.But keep in mind:The study was based on self-reported data, which has limitations. Studies that measure actual radiation exposure, rather than self-reports, would provide more precise data, said Dr. Sunil Rao, an associate professor of medicine at Duke who wasn’t involved in the study.advertisement Health care professionals who have been exposed to radiation over the long term face a higher risk of disease, according to a study published Tuesday in the journal Circulation.Why it matters:Radiation has long been recognized as a cancer risk. This study suggests health care professionals who work in labs that use radiation for procedures such as coronary angiography and angioplasty face an elevated risk of a number of health problems beyond cancer.The nitty gritty:Researchers in Italy surveyed more than 700 health care workers, scientists, and engineers and collected information about their work, lifestyles, and health, including over 400 who worked in catheterization labs, which use radiation. After controlling for age, gender, and smoking, the researchers found that cath lab workers had higher rates of disease: They were 2.8 times more likely to have skin lesions, 6.3 times more likely to have cataracts, and 7.1 times more likely to have back, neck, and knee problems. Researchers also reported higher rates of thyroid disease, anxiety, depression, high blood pressure, and high cholesterol. This risk was especially pronounced in workers with longer duration of radiation exposure over their careers.advertisement Please enter a valid email address. Leave this field empty if you’re human: Newsletters Sign up for Morning Rounds Your daily dose of news in health and medicine. Protective measures like leaded aprons, thyroid collars, leaded glasses, and overhead radiation shields can be used to reduce workers’ radiation exposure, but “unfortunately, in many catheterization laboratories, these measures do not exist or are not employed routinely,” said lead investigator Maria Grazia Andreassi of the Italian National Research Council.The bottom line:Education and awareness are key, said Andreassi. Health care workers should understand the risks they’re exposed to in catheterization labs and other settings, and take protective measures. Privacy Policy Toby Talbot/AP Quick TakeDisease risk rises for health care workers exposed to radiation on the job About the Author Reprints Columnist, Off the Charts Jennifer Adaeze Okwerekwu is a psychiatrist and a columnist for STAT. What they’re saying:“Unfortunately I don’t think this is going to engender any kind of cultural change,”  Rao said. “Procedural-related medicine tends to have this macho culture where people don’t necessarily pay attention to their own health.”Other experts noted that workers may not use protective gear because of time constraints. [email protected] @JenniferAdaeze Tags heart diseasemedical professionalsradiationlast_img read more

California cites AmerisourceBergen for failing to flag huge sales of opioids to pharmacies

first_img [email protected] About the Author Reprints What’s included? By Ed Silverman July 23, 2019 Reprints The state of California wants to revoke or suspend the wholesale license for a facility run by AmerisourceBergen (ABC), one of the nation’s largest pharmaceutical distributors, for failing to note patterns of unusual sales of opioid painkillers and other controlled substances shipped to different pharmacies over a number of years.Between 2008 and 2014, the facility based in Sacramento, Calif., sold large quantities of such medicines as Norco, which is a mixture of acetaminophen and hydrocodone; oxycodone; and promethazine with codeine syrup to four different pharmacies, according to a May 30 complaint filed by the state Board of Pharmacy. The complaint was made public on the agency website last week. Log In | Learn More @Pharmalot Ed Silverman What is it? Pharmalot center_img George Widman/AP GET STARTED Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. California cites AmerisourceBergen for failing to flag huge sales of opioids to pharmacies Unlock this article — plus daily coverage and analysis of the pharma industry — by subscribing to STAT+. First 30 days free. GET STARTED Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Tags legalopioidspharmaceuticalsSTAT+stateslast_img read more

City of Naples to vote on a mask mandate

first_imgStudy ranks Naples as best beach town in America to live June 16, 2021 Advertisement“I think it’s ridiculous they don’t have a mask mandate.,” Phillips said. “There are no borders, people come in and out of the city, there should be one standard for everybody.”Phillips said masks are especially important now as more tourists come to Naples.“While we welcome visitors and snowbirds, I would hope that this other world that they see doesn’t turn into the world they are coming from with high rates and positive tests and an increase in deaths,” Phillips said. NAPLES, Fla. – The City of Naples is scheduled to vote to approve a mask mandate at a public meeting on Dec. 3 at 8:30 a.m.Owner of the Ridgway Bar & Grill, Tony Ridgway believes a mask mandate is a necessity. He said he worries if masks are not enforced, the state will enter another shutdown — which many local restaurants can not afford.“If we ever got to the point where masks were ignored and the pandemic became so bad that we were forced to close, that would be very difficult for many of us to recover,” Ridgway said.As it stands right now, within the City of Naples, residents and visitors are not required to wear a mask, but they are throughout the rest of Collier County. Full-time resident, Laurie Phillips said she believes masks should be a requirement within the city. Japan to ease COVID restrictions as country prepares for 2020 Olympics June 17, 2021 AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments Sea turtle caught on camera nesting on Naples beach June 16, 2021 Naples soldier facing charges for wife’s murder June 16, 2021 Many residents said the key to keeping their home open is by wearing a mask — that’s why Ridgway plans on speaking at the council meeting on Dec. 3.“So let’s do everything we can to keep it at good, and never get to where people close,” Ridgway said.Gov. DeSantis recently extended his executive order that bans local governments from enforcing mask mandate violations. AdvertisementTags: Covid-19mask mandatenaples RELATEDTOPICS Advertisement AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments Advertisementlast_img read more

North Reacts Angrily to COI “Organizers”

first_img Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak News News By Kang Mi Jin – 2013.03.25 7:30pm RELATED ARTICLESMORE FROM AUTHOR Facebook Twitter North Korea tries to accelerate building of walls and fences along border with China There are signs that North Korea is running into serious difficulties with its corn harvest center_img North Reacts Angrily to COI “Organizers” SHARE News News Kang Mi JinKang Mi JinKang Mi Jin is a North Korean defector turned journalist who fled North Korea in 2009. She has a degree in economics and writes largely on marketization and economy-related issues for Daily NK. Questions about her articles can be directed to [email protected] North Korea strongly condemned the South Korean government and ruling Saenuri Party over the weekend, following last week’s UN resolution that saw a Commission of Inquiry (COI) established to investigate crimes against humanity in the country. According to a March 24th comment by a spokesperson for North Korea’s Committee for the Peaceful Reunification of the Fatherland, “The U.S. and their South Chosun puppets should be well aware that this quarrel over human rights in our Republic [North Korea] is a challenge to our system and dignity that can never be accepted by our military and people.”It continued, “Even though the puppet regime has been changed, not only are they continuing with their clamorous anti-Republic human rights strategy, they are even doing it more unscrupulously. We are paying special attention and feel great hostility toward that, and have the will to punish them mercilessly.”“In particular, we will ruthlessly cut down the criminals, including the Saenuri Party gang, who were at the forefront of organizing this UN human rights resolution,” it went on to threaten.On February 1st, Saenuri Party chair Hwang Woo Yea sent a letter to the 47 current member states of the UN Human Rights Council to urge them to establish a Commission of Inquiry (COI). Also, party lawmaker Ha Tae Kyung attended the UN Human Rights Council meeting on March 11th-13th at which the COI was agreed.last_img read more

Halifax rep violated regulatory requirements: IIROC

Fiona Collie The Toronto-based Investment Industry Regulatory Organization of Canada (IIROC) has found that Halifax-based registered representative John Edward Brodie made unsuitable investment recommendations, made unauthorized discretionary trades and personally compensated clients for account losses. IIROC documents state that between 2005 and 2009, Brodie, who was employed by Canaccord Capital Inc. (now Canaccord Genuity Corp.), headquartered in Vancouver, made unsuitable investment recommendations to two clients (a husband and wife). The recommendations included opening a margin account for the clients and investing heavily in mining and oil and gas stocks. Both of these actions did not meet the criteria set out in the clients’ Know-Your-Client form. Share this article and your comments with peers on social media BFI investors plead for firm’s sale Facebook LinkedIn Twitter In addition to the margin account, the clients also opened a registered retirement savings plan (RRSP), a locked-in retirement savings plan and a spousal RRSP with Canaccord. The hearing panel also found that Brodie made discretionary trades between 2005 and 2009 in the clients’ accounts. While Brodie argued that he made discretionary trades “less than five per cent” of the time, the IIROC hearing panel found that even if it only happened occasionally it was still inappropriate for Brodie to execute trades without the client’s consent as it was not a discretionary account. Finally, between May 2008 and June 2009, Brodie deposited $44,000 of his own money into the personal account of the husband and wife because he “felt badly and did not want to see [their] margin account closed,” according to IIROC documents. Brodie also deposited another $2,200 over the same time period into the clients’ margin account. Brodie is currently a registered rep in a Dartmouth, N.S., branch of Global Maxfin Capital Inc. IIROC has yet to set a penalty. Mouth mechanic turned market manipulator PwC alleges deleted emails, unusual transactions in Bridging Finance case Keywords EnforcementCompanies Investment Industry Regulatory Organization of Canada Related news read more