FairPoint re-submits financial information to PSB over bankruptcy

first_imgConsolidated Communications,FairPoint submitted supplemental financial information to the Public Service Board last week for its consideration in FairPoint’s still-pending Regulatory Settlement and Change of Control proceeding, the approval of which will allow the company to emerge from Chapter 11.The Vermont Public Service Board’s approval is one of the final steps in this process. FairPoint already has received approvals from Maine and New Hampshire regulators, creditors, represented employees and other states where it does business and approval was required. FairPoint is also pursuing approval from the Federal Communications Commission.FairPoint asked the Vermont Public Service Board to consider FairPoint’s additional information in an expedited manner, with a final decision to be made by November 23.FairPoint has stated that the telecommunications industry has changed dramatically over the past decade and the current level of industry competition provides both business and residential consumers with multiple choices and technologies. “When we emerge from Chapter 11, FairPoint will be a stronger and more viable provider of traditional telephone services and wireline data transmission solutions.”FairPoint’s bankruptcy plan was rejected by the PSB in June, in large part because of revenue projections. FairPoint’s plan would reduce debt by $1.7 billion in exchange for creditors taking control of the North Carolina-based telecommunications company. (STORY).last_img read more

Equinor taps new CEO, sets sights on quicker green energy transition

first_img FacebookTwitterLinkedInEmailPrint分享Bloomberg:Equinor ASA appointed its head of technology and projects, Anders Opedal, to lead the company as Eldar Saetre retires after running the Norwegian state-controlled oil major for six years.Opedal, 52, will take over in November with a mandate to accelerate Equinor’s transformation into a broader energy company as pressure grows on the industry to act on climate change. Saetre already oversaw a step-change in focus on emissions and cleaner energy, and even changed its name from Statoil to articulate the promise of a more sustainable course.“Equinor is entering a phase of significant change as the world needs to take more forceful action to combat climate change,” Chairman Jon Erik Reinhardsen said Monday in a statement. “Anders is the right person to further develop Equinor as a force in the green shift.”Opedal’s promotion comes at a challenging time for the industry, which is struggling with the immediate impact of the Covid-19 crisis and the longer-term uncertainty weighing on energy. He will also need to address criticism at home over investments in U.S. shale oil by Saetre’s predecessor Helge Lund, which have led to impairments of more than $10 billion.Equinor earlier this year boosted its climate ambitions, saying it will cut the net carbon intensity of the energy it produces by at least half by 2050, through a sharp increase in renewables output and changes in its oil and gas portfolio. Since then, rival BP Plc has upped the ante, indicating pressure on oil companies from investors and society isn’t about to abate.“We have a great starting point for what will be a massive transition,” Opedal said. “Together, we will accelerate the development of Equinor as a broad energy company and our growth within renewables.”[Mikael Holter and Lars Erik Taraldsen]More: Equinor promotes technology chief to CEO to lead clean-energy push Equinor taps new CEO, sets sights on quicker green energy transitionlast_img read more

25% rent rise threat at Trafford Centre

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Guardiola hits backs at Solskjaer’s ‘tactical’ fouling jibe

first_imgFILE PHOTO: Pep GuardiolaManchester, United Kingdom | AFP | Pep Guardiola has slammed suggestions from Manchester United manager Ole Gunnar Solskjaer that Manchester City are guilty of “tactical” fouling in an attempt to stop rivals from counter-attacking.Solskjaer, talking before the crucial Manchester derby between the sides at Old Trafford on Wednesday, made reference to City’s supposed habit of fouling high up the field to stop opponents hitting them on the break if Guardiola’s players are out of position.But City boss Guardiola did not take kindly to that analysis and appeared to accuse Solskjaer of trying to influence referee Andre Marriner, who will take charge of the derby.“That’s the reason why, of course,” said Guardiola when asked if he was concerned Solskjaer’s comments might be intended to influence the referee.“I know exactly what I said to my players from day one to the last day.“So when a player wants to attack, we have to be honest and, of course, there is contact, there are fouls.“But when it happens and you arrive late, that is why there are referees — to make yellow cards or red cards or whatever they decide, but never have I prepared a game (to do it).“I prepare the game to do our own game, that is what I want, knowing of course the opponent, but I never said I’m going to do that to punish them or cancel them, making fouls. Never.”Solskjaer is not the first United manager to make a similar claim about City in the Guardiola era — his predecessor Jose Mourinho having made an identical observation before a derby meeting last season.But the bare statistics tend not to support Solskjaer’s claims as figures show United have collected 64 yellow cards this season, compared with City’s 38, with four reds for United, in contrast to their rivals’ solitary dismissal.– ‘Ask him again’ –In terms of fouls, United have committed 201, considerably more than City’s 172, and Guardiola’s outraged reaction appeared to support such a reading of the situation.“I never prepare a game in 10 seasons as a manager thinking about these kind of things. Never,” he said. “The players can talk about it better than me about that — the players I had at Barcelona, Bayern Munich and here — one of the targets is about the counter attacks for the opponents making fouls, never have I said to one player to make fouls to avoid something.“Football sometimes you do that, because football, the actions is quick, fast.“But I’m concerned about many other things to beat them than these kind of things so I don’t know.“Maybe tomorrow in the press conference after the game you can ask him again about that.”Guardiola, however, is wary of the threat posed by United to City’s Premier League title ambitions.City are two points behind leaders Liverpool and the Manchester derby represents their vital game in hand.The Spaniard knows United’s under-performing stars could suddenly hit form as Solskjaer’s team battle to finish in the top four after a disappointing recent run.But the fact that Guardiola likened such a potential upset to Burnley’s achievement in drawing at Chelsea on Monday spoke of the extent to which United have ceased to be a viable challenger to City’s superiority.“Well the tension is there, it’s necessary to complete these kind of games,” he said.“I think everyone knows what we are playing for, we have to focus on the target and what we have to do.“For me, United remains an incredible team, of course, the last 20 or 25 years always there. The past three or four, that can happen in terms of a long history.“For one specific game, they would be dangerous. I know in the beginning how strong they’ll be in terms of intensity and we’ll have to handle it.”Share on: WhatsApplast_img read more

Ex-UEFA president Johansson dies at 89

first_imgLennart Johansson said creating the Champions League to replace the European Cup was his proudest achievement at UefaStockholm, Sweden | AFP |  Lennart Johansson, who was president of European football body UEFA from 1990 to 2007, has died at the age of 89, the Swedish football federation said on Wednesday.“Swedish football is in mourning. Lennart Johansson has died. He passed away on the evening of June 4 aged 89 after a short illness,” the federation said.Johansson’s long reign at the head of UEFA coincided with a transformation in the finances of football as the game became big business and saw a huge increase in TV revenue.In 1998, he was defeated by Sepp Blatter in his bid to become head of football’s global federation FIFA. Johansson was an outspoken critic of Blatter, who was forced out of office in 2015 following accusations of corruption in the awarding of the 2018 World Cup finals to Russia and the 2022 edition to Qatar. Share on: WhatsApplast_img read more