Is Time Inc Inching Toward a Sale

first_imgAddressing a media conference in London, Time Inc.’s chieffinancial officer John Martin said he expects the Time Inc. publishing unit tobe a “growth business,” despite a “difficult secularenvironment” in print advertising, according to a Marketwatch report.Here’s the important part: “Digital revenues are now close to 15% of allrevenues at Time Inc.”:Martin did not rule out the sale of certain magazine titles,but added that one thing necessary to make the business grow is “economiesof scale,” and thus Time Inc. must maintain a strong roster ofpublications.It seems like every time a Time Warner executive speaksabout the future of Time Inc., it’s in decidedly cryptic drips and drabs, andno real numbers attached. So Martin’s were, at once, refreshing/maddening.But he’s clearly been following the path Jeff Bewkes, TimeWarner CEO [pictured], his boss, has been laying out ahead of him. Here’s what Bewkes said inFebruary: “We’re good at publishing. We’re a leader in theindustry. It’s a good business we think. As it expands out beyond print intodigital we think it can turn into a growth business,” Bewkes said, addingthat keeping Time Inc. intact “depend[s] on our being able to demonstrate thatto ourselves and our investors.”All of this is reason enough to dust off this post, entitled”What aTime Inc. Spin-Off Might Look Like.”last_img read more

MercedesBenz CLA Shooting Brake puts junk back in the trunk

first_img See All • reading • Mercedes-Benz CLA Shooting Brake puts junk back in the trunk More about 2019 Mercedes-Benz A220 Review • 2019 Mercedes-Benz A220 review: Raising the entry-level bar 2020 Mercedes-Benz GLE450 review: More luxurious and techy than ever Mar 7 • New Peugeot 208 debuts i-Cockpit with 3D HUD Combo dashboard Mar 7 • The Ferrari F8 Tributo is the last of the nonhybrid V8s 86 Photos Mercedes-Benz Mercedes-Benz CLA Shooting Brake adds function to form More From Roadshow Comment Tags Preview • 2019 Mercedes-Benz A220 Sedan: A class above The Mercedes-Benz CLA-Class is an A-Class that’s been chopped up to add style at the cost of capacity. But what if you want some style and cargo room simultaneously? You could get a regular A-Class hatchback, sure, or you could opt for the new CLA Shooting Brake.Mercedes-Benz on Tuesday unveiled the CLA-Class Shooting Brake at the 2019 Geneva Motor Show. Just like the last CLA Shooting Brake, this one builds on the style of the CLA-Class with an extra dose of wagon at the back for added versatility.In terms of looks, it’s pretty darn close to the new CLA-Class. The headlights are on the more angular side, the side is largely free of character lines while the rear end relies on the same “coupe” taillights seen on the CLA and CLS. The Shooting Brake’s wagon-ish rear end packs an aggressive taper that helps separate it from the A-Class Hatchback. Its 0.26 drag coefficient is a little less slippery than the CLA-Class (0.23), but not by much.Enlarge ImageAs far as quasi-wagons go, this one’s a looker. Andrew Hoyle/Roadshow The interior is almost a carbon copy of the CLA, with both its screens slapped onto the same “surfboard” piece of glass. There’s ample storage space ahead of the redesigned touchpad controller. If you’ve seen the A-Class or the CLA-Class, the story is pretty much the same here. The centerpiece of the CLA Shooting Brake’s tech is MBUX, Mercedes-Benz’s latest and greatest infotainment system. Like the A-Class and CLA-Class (again), MBUX packs a digital assistant with natural language processing, and the system itself is vastly more responsive and capable than the outgoing COMAND system. It also packs a suite of active and passive driver aids that allow the vehicle to hold itself in a lane on the highway, but it can also change lanes automatically after the driver applies the turn signal.In Europe, the CLA Shooting Brake will be offered with a variety of gas and diesel engines. Both manual and dual-clutch transmissions will be available, and buyers will have a choice of two or four driven wheels. The CLA Shooting Brake goes on sale in Europe in September and, as with the previous iteration, it’s unlikely we’ll ever see it in the US. Heck, we don’t even get the A-Class Hatchback. Share your voice Geneva Motor Show 2019 Mercedes-Benz 2020 Mercedes-Benz GLS-Class first drive: ‘The S-Class of SUVs’ earns its title 2019 Mercedes-AMG G63 review: Loud and proud, and absolutely divine Wagons Hatchbacks Apr 17 • The 2020 Jaguar XE gets its first major visual refresh Geneva Motor Show 2019 1 Mar 8 • VW is still ‘100 percent’ investigating a pickup truck for the USlast_img read more

Haiti PM resigns after deadly unrest

first_imgDemonstrators march along a street during a protest in Port-au-Prince, Haiti, on 14 July 2018. Photo: ReutersEmbattled Haiti prime minister Jack Guy Lafontant resigned on Saturday following deadly violence and looting sparked by a now-abandoned plan to raise fuel prices.”I submitted my resignation to the president of the republic,” who has “accepted my resignation,” Lafontant said in the lower house of Haiti’s legislature.Lafontant had faced a potential vote of no confidence had he not resigned — something he had previously insisted he would not do.Last week, the government in the impoverished Caribbean country announced plans for major fuel price hikes — 38 per cent for gasoline, 47 per cent for diesel and 51 per cent for kerosene.The announcement sparked mass protests, with streets in the capital Port-au-Prince and other cities blocked with barricades of debris and burning tires.Dozens of shops were looted and burned and cars were set ablaze. At least four people were killed. The government quickly did an about-face and called off the planned price increases.Lafontant, a physician who had little political experience before taking office in February 2017, had faced widespread criticism even before the spasm of violence.Several hundred protesters marched on Saturday in Port-au-Prince demanding the departure not just of Lafontant, but also of president Jovenel Moise.”It’s not just a question of changing the prime minister, because day by day, the people are still suffering from more misery, unemployment, insecurity, hunger,” said Fleurette Pierre, one of the demonstrators.Haiti is desperately poor: around 60 per cent of its people live on less than two dollars a day, and they are extremely sensitive to even minor increases in prices of just about anything.In February, Haiti signed an agreement with the International Monetary Fund, the Washington-based global crisis lender, in which the country committed to carrying out economic and structural reforms to promote growth.- ‘More gradual approach’ -One of those conditions was the elimination of petroleum product subsidies, prompting the doomed price hike proposal.The accord also called on the government to keep inflation under 10 per cent.Since 2015, inflation has been running at 13 to 14 per cent annually. The budget blueprint submitted to the legislature in late June still foresaw a rate of 13.6 per cent.On Thursday, the IMF suggested “a more gradual approach” to ending fuel subsidies, paired with “compensatory and mitigating measures to protect the most vulnerable people.””We will continue to support Haiti… as they develop a revised reform strategy,” IMF spokesman Gerry Rice said, noting that ending subsidies would free up funds for other programmes such as education.Crafting a revised strategy — and divvying up Haiti’s meagre budget resources — will be a delicate task.The decision to scrap the price hikes means the government will have to find another way to come up with the $300 million the move would have generated.It is not an insignificant amount — the total is more than 11 per cent of the 2018-2019 budget presented to parliament in June for debate.Now, Moise’s government has to find a way to appease all sides — angry and impatient consumers, politicians with varying interests and IMF economists.Haiti’s deep levels of inequality are often cited by protesters who want both Lafontant and Moise out of office.More than 200 years after gaining independence from France, Haiti is still ranked by the World Bank as having one of earth’s most unjust societies.last_img read more

Accused stabbed dead by another in courtroom

first_imgProthom Alo IllustrationAn accused in a murder case stabbed another accused to death in front of the judge in a courtroom in Cumilla during hearing on Monday, reports UNB.The deceased was Faruk, son of Ohid Ullah of Monoharganj in the district.The incident took place in front of judge Begum Fatema Ferdous of Cumilla Sessions Judge (third) court in the courtroom.The deceased and the attacker happen to be cousins.Cumilla police superintendent Syed Nurul Islam said accused Hasan started stabbing Farukh with a knife indiscriminately while the hearing in the murder case was going on in the court, leaving him critically injured.Faruk was taken to Cumilla Medical College where the physicians declared him dead.Security was tightened on the court premises after the incident, the SP added.Hasan was arrested after the incident, he said.last_img read more