Latest news with #Van
Yahoo
20-05-2025
- Business
- Yahoo
12 Things in Credit: April 2025
NEW YORK, May 20, 2025--(BUSINESS WIRE)--KBRA releases its latest 12 Things in Credit report, highlighting timely credit market themes drawn from our weekly podcast, 3 Things in Credit, hosted by KBRA's Chief Strategist, Van Hesser. Among the wide-ranging topics Van discusses in this issue are the strength of consumer spending, where the labor market might crack, and the broader implications of Walmart's outlook. Each Friday, the podcast covers three Things impacting credit that market participants should know about. After every four episodes—12 Things total—we compile the transcripts into one publication, making it easy to catch up on anything you missed. Click here to view the report. Related Publications Van Hesser's 3 Things in Credit: A KBRA Podcast Gordon Kerr's Credit Compass: Navigating European Credit Markets About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. Doc ID: 1009522 View source version on Contacts Van Hesser, Senior Managing Director, Chief Strategist+1
Business Wire
20-05-2025
- Business
- Business Wire
12 Things in Credit: April 2025
NEW YORK--(BUSINESS WIRE)--KBRA releases its latest 12 Things in Credit report, highlighting timely credit market themes drawn from our weekly podcast, 3 Things in Credit, hosted by KBRA's Chief Strategist, Van Hesser. Among the wide-ranging topics Van discusses in this issue are the strength of consumer spending, where the labor market might crack, and the broader implications of Walmart's outlook. Each Friday, the podcast covers three Things impacting credit that market participants should know about. After every four episodes—12 Things total—we compile the transcripts into one publication, making it easy to catch up on anything you missed. Click here to view the report. Related Publications About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. Doc ID: 1009522
Euronews
20-05-2025
- Business
- Euronews
Investigation exposes the ‘sprawling empire' of 5 Dutch fishing giants
Five Dutch companies form 'an extremely powerful oligopoly' that dominates European fishing, according to a new investigation into their use of marine resources and public funds. Nicknamed the 'Big Five' - Parlevliet & Van der Plas (P&P), Cornelis Vrolijk, Van der Zwan, Alda Seafood and the De Boer family - generated €2.4 billion in revenue in 2023, according to the report from France-based NGO BLOOM. For the first time, the 'sprawling and opaque empire' of these fishing supermajors has been mapped. It claims that they have all been involved in major scandals - from illegal fishing in Peru to corruption in Namibia. "Thanks to a network of opaque subsidiaries, a fleet of technologically over-equipped vessels, and an aggressive takeover strategy, these multinationals reign over global fishing,' says Laetitia Bisiaux, head of the industrial fishing campaign at BLOOM. 'Behind a façade of competition, these companies cooperate closely: they join forces to crush the other players in the sector.' Through their network of 400 subsidiaries, BLOOM's report says the Big Five control nearly 230 vessels - including the world's largest fishing vessel, the 145-metre-long Annelies Ilena. It estimates their combined capacity at 260,000 tonnes, a sixth of the entire EU fishing fleet's gross tonnage. If you lined them all up, they would span 10 kilometres - a two-hour walking distance. The investigation, conducted with the Dutch consortium of investigative journalists Spit, reveals that most of the companies are vertically integrated. This means they control the entire production chain - from catch to plate, trawler to fish-and-chip shop - on a global scale. This enables them, it alleges, to buy fish from their own subsidiaries at artificially low prices to reduce the wages paid to crews (who are often paid a share of the catch) and to transfer profits to tax havens. And, BLOOM says, their outsized presence is giving them undue lobbying sway. Through international subsidiaries, the Big Five are members of at least fifteen lobbying organisations in the EU. The report adds that this 'poses serious problems to the smooth running of democracies through their influence over public decision-making.' First, a quick explainer. The EU sets fishing catch limits, which are then shared among countries through national fishing quotas. Fishing companies purchase these rights in the form of individual transferable fishing quotas (ITQs); they are their most significant assets, and can be sold among each other, used as collateral for loans, leased out to smaller companies, and used to speculate on the market. The Dutch, BLOOM says, were quick to understand and exploit these dynamics in the 1980s, buying up fishing rights and fleets in other countries when prices were low. Being first on the scene with large freezer-trawlers also enabled them to capitalise on the fact that fishing rights are often distributed on the basis of historical catches, creating a feedback loop of fish and wealth. The new report details how the Big Five work together in order to pool or exchange fishing quotas so they can operate more efficiently. They also jointly own subsidiaries and have shared ownership in some ships. After the Netherlands, these companies have invested the most capital in France. 24 industrial vessels holding a large proportion of French quotas operate under the French flag via their subsidiaries. The UK ranks third in terms of vessels owned by the Big Five (18), enabling them to maintain control of fishing areas and quotas despite Brexit. In terms of tonnage, Germany ranks second despite having only seven vessels, given their large size. A second BLOOM investigation, also released today, delves into the public subsidies granted to Dutch shipowners in the aftermath of Brexit. It finds that the Big Five received €53.2 million of the €135 million package intended to compensate struggling fishers for a loss of access to British waters. Furthermore, the main beneficiaries of these subsidiaries were trawlers equipped with electrodes for destructive electric fishing, and some trawlers which haven't actually been blocked by Brexit. The Annelies Ilena, co-owned by P&P and Alda Seafood while flying a Polish flag, catches 400 tonnes of fish a day, as much as 1,000 small-scale fishing boats bring in. It might be the biggest factory ship, but for BLOOM experts, it is emblematic of the wholesale industrialisation of the fishing sector. All but one of the Big Five's 230-strong fleet engages in the most destructive types of fishing: pelagic trawling, bottom trawling and demersal seining (pulling a net across the sea floor). These techniques are deployed in the English Channel, North Sea, West Africa, Indian Ocean, Pacific, and the Arctic. According to BLOOM, 'their industrial logic is based on gigantic vessels and massive extraction capacity, which is incompatible with the preservation of healthy marine ecosystems.' The report also claims the profit from this 'extractivist approach to wild resources' is now being transferred into real estate, including high-rise residential buildings. Fisheries economists fear that this could be a warning signal that, as a result of overfishing, the return on investments in the fishing industry is declining. Parlevliet & Van der Plas, Cornelis Vrolijk, Van der Zwan, Alda Seafood and the De Boer family have been contacted for comment. A vanishing species of whale gave birth to so few babies this birthing season that it has raised alarms among scientists and conservationists who fear the animal could go extinct. The whale is the North Atlantic right whale, which numbers only about 370 and has declined in population in recent years. The whales give birth to calves off the southeastern United States from mid-November to mid-April, and federal authorities have said they need to have at least 50 calves per season to start recovering. The whales didn't come anywhere near that number this year. The calving season produced only 11 mother-calf pairs, scientists with the New England Aquarium in Boston said. The lack of baby whales underscores the need for their protection, conservationists said Monday. North Atlantic right whales are vulnerable to entanglement in marine fishing gear and collisions with large ships. 'They're also reproducing more slowly than they used to,' said the International Fund for Animal Welfare in its calving season report card. "This is likely due to stress from entanglements, navigation among busy maritime traffic, increasing ocean noise, and the changing distribution of their food sources." The calving season did have some bright spots. Several females gave birth for the first time, and that gives hope for the future, the aquarium said in a statement. The whale population only has about 70 reproductive females left. 'With past calf counts ranging from 39 to zero, we never know how any calving season will unfold. While the calf count is relatively low this year, I am encouraged by four new mothers being added to the reproductive pool,' said Philip Hamilton, senior scientist in the Aquarium's Anderson Cabot Center for Ocean Life. The whales can weigh up to 45,360 kilograms and were heavily exploited during the era of commercial whaling. They've been protected for decades, but have been slow to recover. In recent years, scientists have said the whales have strayed from established protected zones in search of food, and that has put them at elevated risk of entanglements and collisions. The whales migrate from the south to New England and Canada to feed on tiny ocean organisms.
Time of India
17-05-2025
- General
- Time of India
NGT asks govt to get forest nod or demolish Deomali structures
1 2 Koraput: National Green Tribunal (NGT) has directed the state govt to obtain forest clearance within three months or remove all structures built on Deomali hill under the eco-tourism project. The order, issued on Friday, mandates the state to seek approval from the Centre under the Forest (Conservation) Act, 1980. If the govt fails to get the nod, it must dismantle the constructions and restore the land to its original state, the NGT said. Deomali hill, located in Koraput's Pottangi block, has rich biodiversity. NGT's directive comes in response to a 2023 petition by the Wildlife Society of Odisha , which raised concerns over unauthorised constructions threatening the local ecosystem. The forest department has built 10 cottages, a dining hall, dormitories and other facilities on 5.93 hectares of forest land using cement fibre board. NGT also directed the govt to maintain a pine plantation undertaken over 1.5–2 hectares and make efforts to expand it. Strictly prohibiting diversion of forest land for other purposes, NGT's east zone bench in Kolkata cited the 1980 Act and Forest Rights Act, 2006. "In any case, no diversion of the land in question shall be made for non-forestry purposes and the respondents shall ensure strict compliance of the Van (Sanrakshan Evam Samvardhan) Adhiniyam, 1980 read with the Forest Rights Act, 2006," the bench stated in its order. Divisional forest officer (Koraput), Bhaskar Rao, said, "We are examining the NGT order which we received on Friday. After consultation with authorities and legal experts, necessary action will be taken."
Hindustan Times
17-05-2025
- Hindustan Times
National Green Tribunal halts ecotourism at Odisha's highest peak Deomali
The National Green Tribunal (NGT) has halted ecotourism at Deomali, the highest peak in Odisha in the Koraput district, and ordered the state to secure clearance under the Forest Conservation Act, 1980, for structures built for it within three months or demolish them and restore the land. NGT's eastern zonal bench of Justice B Amit Sthalekar and Arun Kumar Verma said 10 cottages for tourists with dining halls and dormitories, and other constructions lacked permissions. 'If the required approval is not obtained within the stipulated time, erected shall be removed, and the area shall be restored to its original form. In any case, no diversion of the land in question shall be made for non-forestry purposes, and the respondents [state and the Union governments] shall ensure strict compliance with the Van (Sanrakshan Evam Samvardhan) Adhiniyam, 1980, read with the Forest Rights Act, 2006,' the bench said. The bench directed maintenance of a 1.5-2 hectare pine plantation. Deomali, a mountaintop tableland in the Eastern Ghats range, is 5,486 feet above sea level. The Wildlife Society of Orissa (WSO), a non-profit organisation, moved the NGT against the constructions, arguing they flouted sustainable development principles. Lawyer Sankar Prasad Pani, who represented WSO, said any non-forest activity in the area requires prior approval under the Forest Conservation Act, 1980. 'If the land is not a notified forest and is devoid of trees and vegetation, as is the stand taken, the DFO [divisional forest officer] would have no role in issuing a tender notice for civil works,' said Pani. The Koraput DFO submitted that the ecotourism project site does not fall within any notified forest block or recorded forest land as per the government records, and it is not identified as deemed forest. The NGT was unsatisfied with the submission and said the question arises as to why village level meetings were held for the formation of Van Surakhya Samiti if the state's stand is to be accepted. 'If the land in question was revenue land, the procedure as prescribed under the Forest Rights Act, 2006, would have had no application or necessity,' the bench said. The Deomali project is part of the Union government's Swadesh Darshan Scheme for infrastructure development to boost tourism. The tourism department has separately sanctioned ₹16 crore for the integrated development of the area. There is also a proposal for an ecotourism complex at an estimated cost of about ₹4.5 crore.
