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Roadways reopened after investigation at Fort Lauderdale-Hollywood Airport

first_imgAdvertisement Cat dodges Florida rescue crews after getting ‘stuck’ on bridge March 26, 2021 Knife-wielding man shot & killed by deputy April 17, 2021 AdvertisementOfficials recommended that travelers check in with their airline for the latest flight status before heading to the airport. AdvertisementTags: broward countyFort Lauderdalesuspicious package BROWARD COUNTY, Fla. — All roads into the Fort Lauderdale-Hollywood International Airport have reopened after an investigation into a suspicious package was completed, airport officials said. A heavy police presence was seen at FLL as officials investigated the suspicious package that was found outside Terminals 2 and 3, according to a spokesperson with the Fort Lauderdale-Hollywood International Airport.Deputies with the Broward County Sheriff’s Office were at the scene and quickly shut down roads into the airport. The roads have since reopened.Deputies did not confirm if the package was an explosive device. 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 commentscenter_img Driver of stolen car arrested for leading Collier County deputies on chase April 2, 2021 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 RELATEDTOPICS Broward County Schools threatened by hackers demanding $40 million in ransom April 2, 2021 Advertisementlast_img read more

CLHIA welcomes Canada-Korea Free-Trade Agreement

first_imgIE Staff The Canada-Korea FTA is the first of its kind with an Asian country — a region where Canadian life insurers continue to have a strong and growing presence. CLHIA commends the government for continuing to pursue new free-trade agreements and for identifying the Asia Pacific region as a key market of interest. “We are hopeful that this FTA with Korea will raise Canada’s profile and further enhance our economic ties in the region,” adds Swedlove. CLHIA is a voluntary trade association that represents the collective interests of its member life and health insurers. Its member companies hold roughly $600 billion worth of assets abroad and generate over $48 billion or 40 per cent of their total premiums from foreign operations. Share this article and your comments with peers on social media The Canadian Life and Health Insurance Association (CLHIA) says it welcomes today’s announcement of a free-trade agreement (FTA) between Canada and South Korea. “As one of Canada’s most internationally active business sectors, the life and health insurance industry is a major supporter of free-trade agreements. We are pleased that such an agreement has been reached with such a large and important market as Korea,” says Frank Swedlove, CLHIA president Frank. center_img Companies Canadian Life and Health Insurance Association Facebook LinkedIn Twitterlast_img read more

Rail stocks lift TSX; Dollar rises

first_imgMalcolm Morrison The Toronto stock market closed higher Friday as traders shook off the geopolitical worries that had roiled markets the previous session and refocused on corporate earnings reports. The S&P/TSX composite index recovered from early losses to advance 62.09 points to 15,266.57. Stagflation is U.S. economists’ biggest fear, SIFMA says Another jump in prices tightens the squeeze on U.S. consumers Concern over possible fallout from the shooting down of a Malaysian Airlines jetliner over Ukraine had cast a shadow over markets on Thursday Ukraine accused pro-Russian separatists of bringing down the airliner with 298 people aboard with a surface-to-air missile, sharply escalating the crisis in the region. “Yes, it’s tragic but the market is shaking it off — gold, oil, everything is coming off,” said Wes Mills, chief investment officer Scotia Private Client Group. “You could see these events are now fully known, unlike the other Malaysian plane we worried about what form of terrorism it might be. At least in this case, we know, it’s probably the Russian rebels and we know where the plane is.” Markets were also focused on the Middle East as Israel launched a ground offensive in Gaza aimed at destroying militants’ tunnels and rocket launcher sites. The Canadian dollar was resilient, up 0.19 of a cent at 93.14 cents US as the latest data showed rising inflation. The consumer price index rose 0.1 per cent in June versus expectations for a slight decline. That translated into an annualized gain of 2.4 per cent against the 2.3 per cent advance that economists had forecast. U.S. indexes were higher after racking up sharp losses on Thursday as the Dow Jones industrials moved ahead 123.37 points to 17,100.18, the Nasdaq rose 68.7 points to 4,432.15 and the S&P 500 index gained 20.1 points to 1,978.22. The industrials sector was the leading TSX gainer, up 1.7 per cent as Canadian Pacific Railway (TSX:CP) climbed $6.76 or 3.34 per cent to $209.09 on top of Thursday’s 2.25 per cent gain that followed the release of a strong quarterly earnings report. Canadian National Railways (TSX:CNR) advanced $1.31 to $73.08 ahead of earnings coming out on Monday. “These rails are just phenomenal — CP in particular far exceeded my expectations and they’ve delivered,” Mills said. “They’ve got everything working for them.” The energy sector gained 1.05 per cent with August crude on the New York Mercantile Exchange down six cents at US$103.13 after two days of strong gains that followed the release of data showing a sharp drawdown of crude inventories in the U.S. last week. The metals and mining group lost 1.2 per cent as September copper declined four cents to US$3.18 a pound. The gold sector gave back about 0.6 per cent as gold prices backed off after running up $17 on Thursday with the August contract down $7.50 to US$1,309.40 an ounce. In other earnings news, General Electric shares were down 0.56 per cent to US$26.46 after the industrial conglomerate reported earnings that rose by 13 per cent in its second quarter to US$3.55 billion, or 35 cents per share. Ex-items, earnings were 39 cents a share, which met expectations. General Electric also said that it is targeting late July for the initial public offering of its credit card business, named Synchrony Financial. The strong railway gains helped push the TSX up 141 points or 0.93 per cent this week. A generally strong run of earnings reports pushed the Dow up 156 points or 0.92 per cent. Keywords Inflation,  Marketwatch center_img U.S. economy is warming up, but unlikely to overheat: Moody’s Related news Share this article and your comments with peers on social media Facebook LinkedIn Twitterlast_img read more

How have low-vol ETFs fared during the pandemic?

first_imgThat ideal scenario fell apart in 2020. When stock markets crashed during the early days of the pandemic, low-volatility ETFs went along for most of the precipitous slide. And when markets made a U-turn and posted spectacular gains, Canadian low-vol ETFs lagged far behind the surging S&P/TSX composite index.“What we saw in 2020 was obviously a huge drawdown in the market, and while low-volatility strategies did provide some benefit, it wasn’t as much as we’ve probably seen in other corrections previously,” said Chris McHaney, director and portfolio manager, BMO ETFs, with Toronto-based BMO Asset Management Inc. The $2.7-billion BMO Low Volatility Canadian Equity ETF is the largest of its kind in the Canadian category, and the oldest.“Some investors might have been caught off guard as to the amount that low-volatility strategies also went down with the broad market,” McHaney said.The subsequent 2020 turnaround was led by growth-oriented stocks, many from within the technology sector, which tends to be underrepresented in low-vol strategies. “That’s really what led the market back higher,” McHaney said. “So the low-volatility strategies didn’t participate as much on the upside.”Last year, Ottawa-based Shopify Inc. — absent or at best severely underweight in low-vol portfolios — soared to become the largest Canadian company as measured by stock-market capitalization.“Any strategy that did not hold a market weight to Shopify did not do well,” said Hussein Rashid, vice-president and ETF strategist with Toronto-based Invesco Canada Ltd., which manages the $323-million Invesco S&P/TSX Composite Low Volatility Index ETF.“It really was a tale of two halves,” said Bob Hum, a director with the ETF and index investments group at New York–based BlackRock Inc. The Canadian subsidiary, Toronto-based BlackRock Asset Management Canada Ltd., manages the $123-million iShares MSCI Min Vol Canada Index ETF.Hum said the ETF fared relatively well during the downturn, but not during the strong rebound. “In that type of environment, you would expect a lower-risk portfolio to underperform. It’s really built to do that.”Over longer periods, the oldest Canadian low-volatility ETF has been an impressive performer. Since its inception in October 2011, the BMO ETF has an annualized return of 12.9% to April 30, far outpacing the S&P/TSX Composite’s 8.1% return, and with below-market volatility.“Certainly the longer-term track record is very positive,” McHaney said, “not just from providing that lower-volatility exposure, but also on the return side.”A key metric employed to evaluate risk is the extent to which an ETF participates in — or “captures” — the market’s gains and losses. Since the iShares ETF’s 2012 inception, its upside capture ratio has been 82.5%, and its downside capture ratio only 71%. “The strategy has performed in line with our expectation, delivering that similar market return with less risk,” Hum said.The BMO, iShares and Invesco ETFs — the three with multi-year track records — all have five-year standard deviations that are well below the broad market. Despite this similarity, there are significant differences in how the competing ETFs build their portfolios.The Invesco ETF holds roughly one out of every five constituents of the S&P/TSX Composite index and selects about 50 stocks with the lowest one-year standard deviations. The portfolio is reconstituted quarterly, and there are no sector constraints.Rashid said the Invesco ETF’s low-vol strategy, which is also available as a mutual fund, is not intended to be a standalone holding in the Canadian equity category. It’s recommended as a complement to other strategies, such as a growth-style fund.By contrast, the roughly 65-stock iShares ETF is designed to be a core holding, said Hum, who prefers to use the term “minimum” volatility. The MSCI index, on which the ETF is based, considers not only standard deviation but also correlations between stocks. “We will own some high-risk stocks in the portfolio that are diversifying to the rest of the strategy.”Importantly, the sector exposure is constrained to within plus or minus five percentage points of the parent MSCI Canada Index. “We do think you need to have sector guardrails within the strategy — because if you don’t, then you might have some really big bets from a sector perspective,” Hum said. “We want to ensure this looks and feels like the broad market, but giving you lower volatility over the long term.”The BMO ETF’s 45-stock portfolio is drawn from the 100 S&P/TSX stocks with the largest market capitalizations. Stock selection is based on beta — a measure of how a stock’s performance differs from the broad market — for which a composite score is based on multiple periods ranging from one to five years. The maximum weightings are 5% per stock and a fairly generous 35% per sector regardless of size. The portfolio is updated twice a year.“Beta tends to be fairly stable over time. If there’s a low-beta stock today, chances are a year from now it’ll still be a low-beta stock,” McHaney said. “We have a fairly stable portfolio that has a few names coming in and out each year.”Two other Canadian equity ETFs employ low-volatility strategies, for a total of five. The Fidelity Canadian Low Volatility Index ETF, launched in January 2019, screens for stocks with below-average price volatility and stable earnings. The TD Q Canadian Low Volatility ETF, launched in February 2020, employs a rules-based methodology that, like its iShares rival, is based on standard deviation of individual stocks and correlations between stocks.The common theme among all low-vol strategies is to provide solutions for investors who need the potential returns that equity markets provide, but with less risk of severe losses in bear markets. “With fixed income markets having such low yields, even conservative investors have to look to the equity markets to get the return expectation that they’re hoping for,” McHaney said. “But not all investors want to take on the risk and volatility that’s associated with the broad market.” Related news Canadian equities ETFs that employ low-volatility strategies have been consistently successful in reducing risk. As for returns, they’ve had their ups and downs. The past year demonstrated that any factor-based strategy, no matter how well conceived, will have periods of underperformance. Low volatility is no exception.For a time pre-Covid, low-volatility ETFs were beating the broader market handily, and with less risk. It was the best of both worlds for investors. Share this article and your comments with peers on social media An inhospitable environment for bond ETFs ETF inflows hit $7 billion in May Keywords ETF,  Volatility,  Coronavirus Rudy Luukko Businessman with yellow insurance umbrella looking over city olegdudko/123RF BMO launches new U.S. ETF series Facebook LinkedIn Twitterlast_img read more

MP says SDC Must Increase Visibility and Help to Boost Community Groups

first_imgFacebookTwitterWhatsAppEmail Member of Parliament for South East St. Catherine, Colin Fagan, said that the Social Development Commission (SDC) must increase its visibility and assist in boosting the number of community groups and organisations.“There needs to be an increase in the number of community organisations that have the necessary skills and knowledge to actively participate in local deliberations. The SDC should focus more on the development of these organisations by engaging the abilities of their members to access their strengths and weaknesses, identify priority issues, consider alternative solutions and take appropriate actions in response to identified issues,” Mr. Fagan said.The Opposition Member of Parliament was making his contribution to the 2009/10 Sectoral Debate in the House of Representatives yesterday (July 8).The mission of the SDC is to develop the capabilities of citizens within communities. It assists communities to identify and prioritise social, economic, cultural and recreational needs and to take collective action through self-help and in partnership with government and non-governmental organisations, to satisfy those needs. Advertisements MP says SDC Must Increase Visibility and Help to Boost Community Groups Local GovernmentJuly 9, 2009 RelatedMP says SDC Must Increase Visibility and Help to Boost Community Groupscenter_img RelatedMP says SDC Must Increase Visibility and Help to Boost Community Groups RelatedMP says SDC Must Increase Visibility and Help to Boost Community Groupslast_img read more

Warning to guard against heat stress at work 5 January

first_imgWarning to guard against heat stress at work 5 January Workplaces have been reminded to guard against the effects of extreme temperatures as another week of summer heat hits the State.WorkSafe WA Commissioner Darren Kavanagh today reminded employers and workers of the need to take extra care during the summer months to avoid the risk of heat stress or the more serious heat stroke.“This warning goes out not only to outdoor workers, but also to employees that may be exposed to constant high temperatures that can result in heat stress or even heat stroke in indoor workplaces like foundries,” Mr Kavanagh said.“Workplace safety laws require employers to ensure that workers are not exposed to hazards and this includes, as far as is practicable, protecting employees from extremes in temperature.“The increased sweating caused by heat depletes the body’s fluids and can lead to the symptoms of heat stress – tiredness, irritability, inattention and muscular cramps.“These symptoms don’t just cause physical discomfort, they may also increase the risk of workplace injuries by taking a worker’s attention away from the task at hand, and this is a major concern.”Workers in extremely hot environments can lose up to a litre of fluid every hour, and it is vital that this lost fluid is replaced.Heat stress can be avoided by taking simple steps such as drinking cool clean water at frequent intervals, having rest pauses in a cool place and helping sweat evaporate by increasing air circulation.Where possible, it is also advisable to reorganise work schedules so outdoor tasks are carried out early in the morning and late in the day to avoid peak temperatures.The type of clothing worn is also very important – loose clothing allows air to circulate, improving the evaporation of sweat.Heat stroke is a far more serious condition that must be treated immediately.The signs of heat stroke are cessation in sweating, high body temperature and hot and dry skin. Confusion and loss of consciousness may occur.If heat stroke is suspected, the person should be treated by a doctor as soon as possible.Until medical treatment is available, the person should be cooled down as quickly as possible by methods such as soaking clothing in cold water and increasing air movement by fanning.“Apart from the serious medical concerns arising from heat stroke, the effects of extreme or sustained heat can seriously affect a worker’s concentration levels, and the consequences of this can also be very serious,” Mr Kavanagh said.“Guarding against heat stress and heat stroke is part of providing a safe and healthy workplace, and I urge employers to ensure that preventative measures are in place.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Commissioner, doctor, Government, heat, Industry regulation, Loss, Safety, stroke, treatment, WA, Water, Western Australialast_img read more

Green Party delivers on reducing transport emissions

first_imgGreen Party delivers on reducing transport emissions Green Party of Aotearoa New ZealandThe Green Party is already delivering on its commitment for cleaner, climate-friendly transport through our Cooperation Agreement with the Government.“In our Cooperation Agreement we made reducing pollution from transport a priority, and the announcement today by the Government shows that being put into action,” Transport Spokesperson Julie Anne Genter says.“I am proud to have led the work for the Clean Car Standard last term as the Green Associate Transport Minister, and to now see it implemented on its original timeframe.“Today, the Government has announced a host of measures we have pushed for to decarbonise public transport, mandate biofuels, and introduce a clean car standard.“The announcements today are an important move in the right direction, and will increase the supply of efficient new and used vehicles into New Zealand.“Of course, cleaner cars and trucks aren’t the only answer: to tackle climate change and create liveable towns and cities, much more will need to be done to step up the delivery of game-changing public transport, rapid regional rail services and streets that are fantastic for walking and cycling.“We all need to work together to ensure a safe planet for our kids and grandkids. Our work with the Government to introduce these changes is an example of collaboration that we must keep building on.“We can and we need to go further, faster.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:agreement, building, car, climate, climate change, cycling, Government, Green Party, Green Party of Aotearoa New Zealand, Minister, New Zealand, planet, pollution, public transport, Transport, vehiclelast_img read more

Transport update proposed alteration and upgrading by Highways England of existing M25 Junction 10 Roundabout

first_imgTransport update proposed alteration and upgrading by Highways England of existing M25 Junction 10 Roundabout I have been asked by my Right Honourable Friend, the Secretary of State, to make this Written Ministerial Statement. This Statement concerns the application made under the Planning Act 2008 for the proposed alteration and upgrading by Highways England of the existing M25 Junction 10 Roundabout.Under section 107(1) of the Planning Act 2008, the Secretary of State must make his decision within 3 months of receipt of the Examining Authority’s report unless exercising the power under section 107(3) to extend the deadline and make a Statement to the House of Parliament announcing the new deadline.The Secretary of State received the Examining Authority’s report on the M25 Junction 10/A3 Wisley Interchange Development Consent Order application on 12 October 2020 and the current deadline is 12 May 2021, having been extended from 12 January 2021 by way of my written ministerial statement of 12 January 2021.The deadline for the decision is to be further extended to 12 November 2021 (an extension of 6 months) to allow further consideration of environmental matters.The decision to set a new deadline is without prejudice to the decision on whether to grant development consent. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Government, house, parliament, planning, Secretary, secretary of state, Transport, UK, UK Governmentlast_img read more

Texas tuner PaxPower teases 758-hp V8 swap for new Ford Bronco

first_img ‹ Previous Next › See More Videos Trending Videos First Look: 2021 Ford Broncowrangler-rubicon-392-concept-with-450-hp-v8″>Jeep reveals Wrangler Rubicon 392 Concept with 450-hp V8Few other details are available, other than a potential pricing ladder. Popping for the V8 conversion will cost in the neighbourhood of US$30,000; while stepping up to the supercharged variant will hoover forty-five grand from your wallet. Those numbers do not include the cost of your shiny new Bronco, a machine which is not even in production yet. Created with Raphaël 2.1.2Created with Raphaël 2.1.2 2021 Bronco 2-Door  Ford According to reports, PaxPower will build two variations on this high-horsepower theme. Kicking things off will be a naturally-aspirated ‘yote V8 making about 400 ponies and a like amount of torque. If you’ve been in a Mustang GT recently, this mill should be familiar.Cranking the wick with an optional 2.9L supercharger brings output to a staggering 758 horsepower, meaning it will far outstrip the maybe-they’ll-build-it Jeep Wrangler 392 Concept in the output wars. A ten-speed automatic is planned for both V8 iterations.It’s worth noting this Bucking Bronco hasn’t yet been shown as a, y’know, real vehicle yet, but rather remains a digital rendering from PaxPower. Still, this is a tuning company that builds all manner of high-horsepower Raptor, F-150, and Ranger variants; it’s safe to say they know what they’re doing.RELATED Trending in Canada Expect the crew at PaxPower – and at plenty of other aftermarket shops – to jump on the Bronco bandwagon in a big way, developing acres of off-road kit and addenda. This is all in addition to the thick accessory catalog promised by Ford. First Look: 2022 Lexus NX The sport-cute’s looks have been softened, but its powertrains and infotainment offerings have been sharpenedcenter_img The internet has been awash with discussion about the 2021 Bronco following its introduction just over one week ago.While it does offer a pair of engine choices – a 270-hp four-banger; or a 310-horse twin-turbo V6 – a few people have been complaining about the lack of a V8 option.Now we’ve learned PaxPower, a tuning house in Texas, plans to address this deficiency by stuffing a 5.0L Coyote V8 up the nose of the new Bronco. RELATED TAGSBroncoFordSUVNon-LuxuryNew VehiclesbroncoFordNon-Luxurypaxpowerv8 advertisement We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca The Rolls-Royce Boat Tail may be the most expensive new car ever COMMENTSSHARE YOUR THOUGHTSlast_img read more

TI, Vivendi chiefs to meet over GVT deal

first_img Luz verde a la fusión entre Telefónica y Liberty Global en el Reino Unido AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 13 AUG 2014 Tim Ferguson Home TI, Vivendi chiefs to meet over GVT deal Previous ArticleO2 Czech Republic considers break-upNext ArticleSamsung ramps iPhone rivalry with Galaxy Alpha Telefonica bolsters blockchain security Tim joined Mobile World Live in August 2011 and works across all channels, with a particular focus on apps. He came to the GSMA with five years of tech journalism experience, having started his career as a reporter… More Read more Authorcenter_img Español Related The CEO of Telecom Italia (TI) and chairman of French media group Vivendi will meet this week to discuss the Italian company’s bid to acquire Brazilian broadband business GVT, according to a Reuters report.A source said TI’s Marco Patuano and Vivendi’s Vincent Bollore will meet in Paris today or Thursday to discuss a possible deal, although any offer will have to wait for a Vivendi board meeting on 28 August to be formalised.The Italian incumbent was reported to be in talks with Vivendi regarding a bid for GVT last week, bringing it into competition with Telefonica, which made an earlier €6.7 billion offer.Sources said the proposed TI-Vivendi deal would involve an equity swap to allow Vivendi to acquire a stake in Telecom Italia.As Telefonica is TI’s biggest investor, its bid also provides Vivendi with the chance to take an 8.3 per cent stake in the Italian incumbent, the majority of its holding.TI’s bid is being presented as a broader alliance than Telefonica’s and could include the Italian operator distributing content from Vivendi, including pay-TV provider Canal Plus, over its domestic network.Vincent Bollore, Vivendi’s largest shareholder and chairman since June, is unlikely to reverse the company’s strategic shift away from telecoms and towards media.But Bollore does want to maintain a foothold in the telecoms industry with minority stakes that would also enable Vivendi to deliver its content over partner networks. This reasoning would make TI’s offer attractive.Telefonica’s bid is likely to have been partly motivated by a desire to ease its regulatory position in Brazil.Brazilian anti-trust watchdog Cade said last year that Telefonica must completely exit TIM Brasil (majority owned by TI) or get a new partner for Vivo, its mobile subsidiary, if it wants to maintain control of its own unit in Brazil. Telefónica refuerza la seguridad de las cadenas de bloques Tags FinancialGVTTelecom ItaliaTelefonicaVivendilast_img read more