Vijay Mallya may sell RCB stake to escape debt trap

July 10, 2012

vijay-mallya

Bangalore, July 10: After the financial turbulence at Kingfisher Airlines, Chairman Vijay Mallya's United Spirits is looking at reducing its debt and bringing back the good times. It may even sell its stake in its Indian Premier League (IPL) team Royal Challenges Bangalore (RCB).


Vijay Mallya's acquisition of the brand White & Mackay helped United Spirits reach the top of the global pyramid, but it came at a cost. Its debt has surpassed Rs 7,000 crore and the company is looking at monetising its non core assets to bring this down to manageable levels.


When the price is right, these assets could well include treasury stocks, a stake in United Breweries, and even a stake in its cricket franchise Royal Challengers Bangalore - all worth between Rs 1,500 and Rs 2,000 crore.


Ashok Capoor, President & MD, USL, said, "We have non core assets we can monetise anytime - treasury stocks, UBL stocks, Royal Challengers. But we will not do any selling at this stage. We will only sell when the price and timing are right to bring our debt down in the future.


That's not all. After touching 120 million cases in volume sales last fiscal, USL is now shifting focus to margins. So the sales target 200 million cases by FY 16 is taking a back seat. USL will drive brands that will contribute to revenues, even if they don't add to the volumes initially.


Ashok Capoor said, "We are chasing value, brands that are more premium and the trend is also towards premiumisation, so with that agenda I don't think we will do 200 million cases by FY 16. It will be less than that."


The company is also hoping that input costs will stabilise this year, making its job much easier.


In 2011, the prices of key input elements, extra neutral alcohol or ena and glass, rose significantly, forcing USL to opt for an aggressive, higher-than-usual, 3.5 per cent price hike. But USL says both ena prices and glass availability are improving this year and as they say - every drop counts.



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Agencies
January 6,2020

Washington D.C., Jan 6: 'The Irishman,' and 'Two Popes' were shut out from the winners list despite getting multiple nominations, the movies didn't win a single award at the Golden Globes Award held on Sunday (local time). Other movies in the list include 'Bombshell,' 'Dolemite Is My Name,' 'Harriet,' 'Jojo Rabbit,' 'Knives Out' and 'Little Women.'

According to The Hollywood Reporter, 'The Irishman' may have gone into the 2020 Golden Globes with the second-highest number of film nominations, tied with 'Once Upon a Time in Hollywood' with five nods, but Martin Scorsese's highly anticipated mob epic for Netflix was completely shut out at the award ceremony.

Netflix landed the most film nominations of any company with 17 mentions, but it won only one award which is the best-supporting actress for 'Marriage Story's' Laura Dern. Netflix's nominated films 'Dolemite Is My Name' and 'The Two Popes' was tied with 'Joker' with four mentions each and failed to grab any awards.

'Dolemite Is My Name' star Eddie Murphy was expected by a number of pundits to win for best actor in a motion picture, musical or comedy.

'Bombshell', 'Harriet',' Frozen 2', 'Jojo Rabbit', 'Knives Out', 'The Lion King', 'Little Women' and 'Pain and Glory' are among the other films that received multiple nominations but didn't win a single award.

On the TV side, Netflix's 'Unbelievable' tied in the race to most small-screen nominations with 'Chernobyl' and 'The Crown' with four nominations, and 'The Crown' won only one award, for star Olivia Colman.

The three-time nominees 'Barry', 'Big Little Lies', 'The Kominsky Method' and 'The Morning Show' also didn't grab any award. 'Catch-22', 'Killing Eve', 'The Marvelous Mrs. Maisel' and 'The Politician' who were two-time nominees that were also iced out.

'Hustlers' star Jennifer Lopez failed to take home the best-supporting actress award as she was predicted to win the award by a number of pundits. Billy porter also failed to make history with the best drama actor win for his role on 'Pose,' if he would've won the award, he reportedly would have been the first openly gay African-American to win that award.

'Chernobyl' won two of its four nominations. Despite that, star Jared Harris didn't win the best actor in a limited series Globe which was predicted by many prognosticators. The award was bagged by Russell Crowe for his portrayal of Roger Ailes in 'The Loudest Voice.' But the star was absent from the ceremony.

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Agencies
July 8,2020

New Delhi, Jul 8: After a hiatus of 116 days, international cricket will be resuming today as England and West Indies lock horns in a three-match Test series.

Since March, no international cricket has been played due to the coronavirus pandemic. Because of this virus, whole sporting action across the world came to a standstill.

Australia and New Zealand had played the last international cricket match on March 13 behind closed doors, but the remaining two ODIs of this particular series were cancelled due to COVID-19.

India and South Africa's ODI series also met the same fate due to the pandemic.
It was looking as if it will take a while for sports to come back, but slowly and steadily, all different sports have managed to get into gear and provide fans some respite in these turbulent times.

German football league Bundesliga was the first one to come back, and the organisers set the template as to how to go about conducting tournaments behind closed doors, keeping all safety protocols in check.

Soon after, La Liga, Premier League, and Serie A followed and all major football leagues came back on the television screens across the globe. Formula One kickstarted last week with the Austrian Grand Prix and now it is the time for cricket to resume.

The series between England and West Indies will be played behind closed doors and the matches will be played in Southampton and Manchester. This will be the first time in the 143-year long history of Test cricket that the matches will be played without no crowds.

The England-Windies Test series will be held at Hampshire's Ageas Bowl and Lancashire's Emirates Old Trafford, which have been chosen as bio-secure venues. After the series against West Indies, England would also lock horns with Ireland in three ODIs and Pakistan in three ODIs and as many T20Is.

However, the series against West Indies will be followed closely across the world as all other boards would be looking to see as to how cricket series can be scheduled in their own backyard with the current scenario regarding coronavirus.

The dates for three Tests against West Indies are:

First Test: July 8-12 at Ageas Bowl
Second Test: July 16-20 at Emirates Old Trafford
Third Test: July 24-28 at Emirates Old Trafford

Windies side had arrived in the UK in mid-June and the entire camp had to quarantine themselves for 14 days at Manchester.

For the entire tour, the West Indies squad will live, train and play in a 'bio-secure' environment in England as part of the comprehensive medical and operations plans to ensure player and staff safety.

The bio-secure protocols will also restrict movement in and out of the venues.
Both England and West Indies have played intra-squad practice matches to get some cricketing form back.

While England played their practice match in Southampton, Windies played theirs at Manchester.

West Indies will be led by Jason Holder, while Ben Stokes would captain England in the first Test as regular skipper Joe Root has left the bio-secure bubble to attend the birth of his second child.

England squad for the first Test: Ben Stokes (captain), James Anderson, Jofra Archer, Dom Bess, Stuart Broad, Rory Burns, Jos Buttler, Zak Crawley, Joe Denly, Ollie Pope, Dom Sibley, Chris Woakes, Mark Wood.

West Indies squad for the first Test: Jason Holder (captain), Jermaine Blackwood, Nkrumah Bonner, Kraigg Brathwaite, Shamarh Brooks, John Campbell, Roston Chase, Rahkeem Cornwall, Shane Dowrich, Shannon Gabriel, Chemar Holder, Shai Hope, Alzarri Joseph, Raymon Reifer, and Kemar Roach.

As safety precautions against the coronavirus, the International Cricket Council (ICC) has also brought about some changes to the playing conditions. The new guidelines include the ban of saliva to shine the ball and allowing replacement of players displaying symptoms of COVID-19 during a Test match.

Players will not be permitted to use saliva to shine the ball. If a player does apply saliva to the ball, the umpires will manage the situation with some leniency during an initial period of adjustment for the players, but subsequent instances will result in the team receiving a warning.

A team can be issued up to two warnings per innings but repeated use of saliva on the ball will result in a 5-run penalty to the batting side. Whenever saliva is applied to the ball, the umpires will be instructed to clean the ball before play recommences.

Also, the requirement to appoint neutral match officials has been temporarily removed from the playing conditions for all international formats owing to the current logistical challenges with international travel. The ICC will be able to appoint locally based match officials from the ICC Elite Panel of Match Officials and the ICC International Panel of Match Officials.

Moreover, teams will be allowed to replace players displaying symptoms of COVID-19 during a Test match. In line with concussion replacements, the match referee will approve the nearest like-for-like replacement. However, the regulation for COVID-19 replacements will not be applicable in ODIs and T20Is.

The ICC had also confirmed an additional unsuccessful DRS review for each team in each innings of a match, keeping in mind that there may be less experienced umpires on duty at times.

This will increase the number of unsuccessful appeals per innings for each team to three for Tests and two for the white-ball formats.

The first Test between England and West Indies gets underway later today from 3:30 PM IST.

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News Network
July 26,2020

Chennai, Jul 26: Indian Grandmaster Viswanathan Anand suffered his fifth straight defeat in the USD 150,000 Legends of Chess online tournament, going down 2-3 to Peter Leko of Hungry.

The former world champion got off to a good start and won the first game of the best-of-four contest. The next two games were drawn before Leko levelled by winning the fourth.

The Hungarian then claimed the Armageddon (a tie-breaker) to ensure Anand remain winless and at the bottom of the points table.

Anand, who is making his maiden appearance on the Magnus Carlsen Chess Tour, had earlier lost to Peter Svidler, Magnus Carlsen, Vladimir Kramnik and Anish Giri.

World no. 1 Carlsen bounced back strongly to avoid an upset, beating veteran Vasyl Ivanchuk 3-2 to stay on top.

Legends of Chess is a unique event where Carlsen, Liren, Nepomniachtchi and Giri, semifinalists at the Chessable Masters (part of the Magnus Carlsen Tour), received an automatic invite and are up against six legends aged 40-52, who have been at the top of world chess at various points in their career.

The tournament is part of the Magnus Carlsen Chess Tour. The winner of this event will qualify for the USD 300,000 Grand Final scheduled from August 9 to 20.

Results of Round 5: Peter Leko beat Viswanathan Anand 3-2; Magnus Carlsen beat Vasyl Ivanchuk 3-2: Vladmir Kramnik beat Ding Liren 2.5-1.5; Anish Giri beat Boris Gelfand 2.5-1.5; Ian Nepominiachtchi beat Peter Svidler 3-1. 

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