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Spas and firms offering complementary therapies such as massage, detox and hydrotherapy have told the BBC they could go out of business soon if they cannot reopen in July.
“I can sustain my business for another two weeks, and that’s it,” says Michelle Geraghty-Carns, owner of complementary therapy clinic EternalBeing and spa firm EternalSpa in Enderby, Leicestershire.
Entrepreneurs in the industry were already struggling with a slump in demand, having had to shut their businesses due to coronavirus restrictions.
But when spas and firms offering complementary therapies were not included on a long list of businesses allowed to reopen from 4 July, many felt dismay.
Ms Geraghty-Carns, who has been in business for 20 years, last week made the difficult decision to shut her spa down because she could no longer afford the lease on the premises.
Her clinic, which offers a range of treatments for allergies, intolerances and deficiencies, is in slightly better shape but still on shaky ground.
Like others in the complementary therapy sector, Ms Geraghty-Carns is “frustrated and annoyed” that the government is permitting hairdressers, pubs and restaurants in England to reopen, but not businesses like her own.
It considers spas and firms offering complementary therapies to be “close contact” – and therefore riskier – services, but she feels they are no less safe. The BBC has approached the Department for Business, Energy and Industrial Strategy for a comment.
Although she is certified by several national complementary therapy governing bodies, Ms Geraghty-Carns’ work is not officially classed as healthcare, so it falls into a grey area and is often mistaken as being part of the beauty industry.
“No one’s using any common sense when looking at separate businesses,” she says. “You speak to your insurer, or the local council, and we’re told we’ve got to wait until the government gives us the sign-off.”
Adding to her woes, Ms Geraghty-Carns had recently refurbished her clinic and spa and invested heavily in personal protective equipment (PPE), expecting she would be allowed to reopen.
“That all cost £38,000 and we’ve had to get a bank loan to pay for it. And I just picked up the latest in American hydrotherapy equipment last week that costs £20,000,” she says.
Professional massage therapists in the UK are facing a similar challenge, but they also have to contend with negative connotations wrongly attributed to their occupation.
“I think the government’s phrasing of ‘massage parlour’ is hugely disturbing. I don’t know what kind of parlours politicians frequent, but my work is in pain management,” says Anneli Hukins, a former nurse and self-employed mobile massage therapist in Kent, who owns health business Woodstock Holistics.
“I’m furious that having spent so much of my life studying to treat people who are sick or injured I’m being told to stay at home, when hairdressers can go to work, and hairdressing is not an essential part of health and wellbeing.”
Ms Hukins, a fellow of the Complementary Medical Association (CMA), is currently writing a paper on why massage therapy should be reclassified as being on par with other physical therapies such as physiotherapy and osteopathy.
The National Institute for Health and Care Excellence (Nice) has found that massage can help conditions such as sciatica and lower back pain as an alternative to medication, but the NHS is not currently offering this therapy.
Gillian Tomkins, 70, from Northiam, East Sussex, is a retired nurse who suffers from osteoarthritis. It is incurable – a side effect from being on her feet for most of her career.
“I’ve had one hip replacement. The other hip is no good and my shoulders are no good,” she says. “I’m in constant pain and I’m taking more pain medication than I was before lockdown began.”
Ms Tomkins says she misses her massage therapist and is “desperate” for relief, as her medication only goes so far.
“I only see my therapist once every other week and it’s amazing, it keeps you going.”
Aly Thobani is the owner and director of Spa and Massage, a chain of five massage therapy clinics in London that started in 2007.
He employs healthcare professionals, physiotherapists and massage therapists, all of whom are certified.
“I am worried about the future of my business. The prolonged closure runs up more costs and we’re already in a very precarious position,” he says.
“We’ve got hundreds of emails from clients enquiring whether we can send therapists to their homes, but mobile massage therapy is not allowed either.”
Before the pandemic, the business was doing 1,000 massages a week. Like many in the wellbeing industry, Mr Thobani had expected that if hairdressers could open, so could other services providing hands-on therapies.
He is very upset by the government’s recent announcement: “What Boris Johnson said about massage parlours is insulting and discriminatory, because a massage parlour has a connotation of something sexual.
“But massage therapy clinics are a mainstream business – people are coming to get something fixed.
“During treatment, the client lies face down. We have air-ventilated rooms, the client can wear masks, we can wear masks. We can check temperatures and we have an appointment-only service.”
Mr Thobani is worried because landlords are chasing rent on his five premises, and from 30 September onwards they will be able to take legal action against those who can’t pay.
It means Spa and Massage needs to find the money to pay for around four months of rent covering lockdown, its PPE costs, and the salaries of staff when they come back to work.
But revenues are likely to be 50% lower than usual even if the firm can reopen, Mr Thobani says, because it will not be able to see as many clients as it could prior to lockdown.
“We need to see the government allow massage therapy clinics to open urgently and change the classification of such businesses to be medical professionals,” he says.
“My life savings are in this, years of work, and all of our contractors are also sitting at home.
“They’re all really passionate about their work – this is what they do, they fix people. It’s their livelihood and they have no idea when they will be able to work again.”
The US has bought up virtually all the stocks for the next three months of one of the two drugs proven to work against Covid-19, leaving none for the UK, Europe or most of the rest of the world.
Experts and campaigners are alarmed both by the US unilateral action on remdesivir and the wider implications, for instance in the event of a vaccine becoming available. The Trump administration has already shown that it is prepared to outbid and outmanoeuvre all other countries to secure the medical supplies it needs for the US.
“They’ve got access to most of the drug supply [of remdesivir], so there’s nothing for Europe,” said Dr Andrew Hill, senior visiting research fellow at Liverpool University.
Remdesivir, the first drug approved by licensing authorities in the US to treat Covid-19, is made by Gilead and has been shown to help people recover faster from the disease. The first 140,000 doses, supplied to drug trials around the world, have been used up. The Trump administration has now bought more than 500,000 doses, which is all of Gilead’s production for July and 90% of August and September.
“President Trump has struck an amazing deal to ensure Americans have access to the first authorised therapeutic for Covid-19,” said the US health and human services secretary, Alex Azar. “To the extent possible, we want to ensure that any American patient who needs remdesivir can get it. The Trump administration is doing everything in our power to learn more about life-saving therapeutics for Covid-19 and secure access to these options for the American people.”
The drug, which was invented for Ebola but failed to work, is under patent to Gilead, which means no other company in wealthy countries can make it. The cost is around $3,200 per treatment of six doses, according to the US government statement.
The deal was announced as it became clear that the pandemic in the US is spiralling out of control. Anthony Fauci, the country’s leading public health expert and director of the National Institute of Allergy and Infectious Diseases, told the Senate the US was sliding backwards.
“We are going in the wrong direction,” said Fauci. Last week the US saw a new daily record of 40,000 new coronavirus cases in one day. “I would not be surprised if we go up to 100,000 a day if this does not turn around,” he said. He could not provide an estimated death toll, but said: “It is going to be very disturbing, I guarantee you that.”
The US has recorded more than 2.5 million confirmed cases of Covid-19. Some states lifted restrictions only to have to clamp down again. On Monday, the governor of Arizona ordered bars, cinemas, gyms and water parks to shut down for a month, weeks after they reopened. Texas, Florida and California, all seeing rises in cases, have also reimposed restrictions.
Buying up the world’s supply of remdesivir is not just a reaction to the increasing spread and death toll. The US has taken an “America first” attitude throughout the global pandemic.
In May, French manufacturer Sanofi said the US would get first access to its Covid vaccine if it works. Its CEO, Paul Hudson, was quoted as saying: “The US government has the right to the largest pre-order because it’s invested in taking the risk,” and, he added, the US expected that “if we’ve helped you manufacture the doses at risk, we expect to get the doses first”. Later it backtracked under pressure from the French government.
Canadian prime minister Justin Trudeau warned there could be unintended negative consequences if the US continued to outbid its allies. “We know it is in both of our interests to work collaboratively and cooperatively to keep our citizens safe,” he said. The Trump administration has also invoked the Defense Production Act to block some medical goods made in the US from being sent abroad.
Nothing looks likely to prevent the US cornering the market in remdesivir, however. “This is the first major approved drug, and where is the mechanism for access?” said Dr Hill. “Once again we’re at the back of the queue.”
The drug has been watched eagerly for the last five months, said Hill, yet there was no mechanism to ensure a supply outside the US. “Imagine this was a vaccine,” he said. “That would be a firestorm. But perhaps this is a taste of things to come.”
Remdesivir would get people out of hospital more quickly, reducing the burden on the NHS, and might improve survival, said Hill, although that has not yet been shown in trials, as it has with the other successful treatment, the steroid dexamethasone. There has been no attempt to buy up the world’s stocks of dexamethasone because there is no need – the drug is 60 years old, cheap and easily available everywhere.
Hill said there was a way for the UK to secure supplies of this and other drugs during the pandemic, through what is known as a compulsory licence, which overrides the intellectual property rights of the company. That would allow the UK government to buy from generic companies in Bangladesh or India, where Gilead’s patent is not recognised.
The UK has always upheld patents, backing the argument of pharma companies that they need their 20-year monopoly to recoup the money they put into research and development. But other countries have shown an interest in compulsory licensing. “It is a question of what countries are prepared to do if this becomes a problem,” said Hill.
SAN FRANCISCO, June 30, 2020 /PRNewswire/ — Fingerprint, a leading provider of digital content for kids and families, and Mondia, a Dubai-based technology company specializing in the marketing and distribution of digital content, announced an agreement to offer Fingerprint’s kids entertainment platform Kidomi™️ to telco operators and enterprise customers across selected markets globally.
Kidomi™️ offers localized content and is available in 14 languages with an engagement rate of 12 hours per user every month on average.
“Mondia has a long history of working with global telco operators and companies to help them achieve high levels of engagement with their respective audiences by providing turnkey digital entertainment solutions for their customers,” said Dr Amadeo Rahmann, CEO of Mondia Group. “The Kidomi™️ entertainment product is a great addition to our content portfolio.”
“We look forward to expanding our relationship with Mondia and to offering our award-winning, premium entertainment and learning platform, Kidomi™️, to companies looking to reach and engage with global family audiences,” said Nancy MacIntyre, CEO and Co-Founder of Fingerprint. “With hundreds of games, videos and reading activities, Kidomi™️ provides a fun learning experience that can make a significant positive impact in the early development stages of school-age children.”
Kidomi™️, the award-winning, all-in-one app is suitable for kids ages 3-12 and delivers highly engaging, family-friendly content with thousands of premium games, videos and books from top global brands like DreamWorks, Crayola, Toca Boca and more. The library features expert-curated content mapped to U.S. Common Core Standards, allowing kids to learn something new every time they play. Kidomi™️ provides a safe, ad-free, subscription experience with no in-app purchases and has a dashboard that allows parents to manage screen time, set limits by activity and filter favorite content for kids, while a detailed activity feed provides insight into kids’ learning patterns and usage habits.
About Mondia (mondia.com)
Mondia is a leading technology company which specializes in the marketing and distribution of digital content. We understand where the markets are going, where tech fits, and use that knowledge to solve business challenges and deliver the best user experiences. Mondia creates personalized digital experiences for people by providing them with the best and latest digital content anywhere, anytime; from health, entertainment, lifestyle, gaming, music to sports. We help enterprise customers grow their user engagement and maximize their monetization potential through payment connectivity, customer acquisition and life cycle management services. With nine offices across Europe, Middle East and Africa, Mondia reaches over 1.3bn end-users across 48 countries. The company works with more than 80 telco operators around the world, over 1,000 content providers and 200 merchants. Learn more: www.mondia.com
About Fingerprint (fingerprintplay.com)
Fingerprint is a leading global provider of digital content for kids and families. The San Francisco-based mobile technology company creates custom kids’ learning and entertainment platforms and curates content for customers around the world. Industry leaders in technology, edutainment, broadcast and more license Fingerprint’s technology platform and use its content solutions to serve up customized branded mobile networks that help them better connect with families in a safe and meaningful way. Fingerprint has content partnerships with more than 200 developers in more than 60 countries and commercial partnerships with Samsung, Verizon, TCL, T-Mobile, Sprint, Ericsson and more. Fingerprint is funded by leading media and technology investors, including Corus Entertainment, DreamWorks Animation, Reed Elsevier Ventures, Trinity Capital Investment and GSV. For more information, visit fingerprintplay.com or facebook.com/FingerprintPlay.
Fingerprint Digital, Inc.
Tel : +1-415-960-4332
SOURCE Fingerprint Digital, Inc.
Last Updated: 30/06/20 11:38pm
Ole Gunnar Solskjaer has warned Manchester United are full of confidence and quality after fuelling their top-four charge with a resounding victory at Brighton.
United extended their unbeaten run to 15 games in all competitions with an imperious 3-0 win at the Amex Stadium that lifted them up to fifth and to within two points of fourth-placed Chelsea.
Asked if the performance was a statement of intent in the race for Champions League qualification, Solskjaer told Sky Sports: “I don’t care about making a statement, I know we are a good team.
“We are full of confidence and full of quality as well. The boys played some exceptional stuff.
“It’s always hard playing against Brighton, Graham [Potter’s] team keep the ball well, but we pressed well and started really well.”
Mason Greenwood fired United ahead inside 16 minutes with his sixth Premier League goal of the season before Bruno Fernandes capped another talismanic performance with two goals to put the game beyond the Seagulls.
“We were looking for that moment to get a goal, and Mason’s first was brilliant,” the United boss added. “He played fantastically.
“He’s a young kid and we know when he goes forward, he’s dangerous. His hold-up play and link-up play was great.
“He has a knack [of scoring] he can go inside or outside and is good on either foot. He’s developing into a fine player.”
Fernandes’ double took his goal involvement tally to eight in his first eight league games for United, a tally only bettered by the nine Robin van Versie managed in his first eight games.
The highlight of the encouraging south-coast victory came early in the second half when Fernandes’ emphatic volley rounded a devastating counter for United’s game-clinching third goal.
On Fernandes’ goal, Solskjaer said: “We defended a set play well. We know we have pace to counter quickly.
“It was a great pass by Nemanja [Matic], a great cross by Mason [Greenwood] and it was fantastically finished by Bruno, so I am very happy, happy with all the goals.
“We were focused on this game, now it’s on to the next one on Saturday against Bournemouth. We’ve got to recover.
“It was great to get to 3-0 so I could take Bruno and Luke [Shaw] off because they have had a hard weekend with 120 minutes in the FA Cup, so it worked out well.”
8 – Bruno Fernandes has been directly involved in eight goals in his first eight Premier League games for Man Utd (five goals & three assists) – only Robin van Persie has had more (9) at this stage of his PL career with the club. Sensation. pic.twitter.com/iw4oxj4T4j
— OptaJoe (@OptaJoe) June 30, 2020
After his man of the match performance, Fernandes set his sights on securing a top-four finish and said it’s a target he and his team-mates know is achievable.
“The most important thing is the three points, but we played well, and the result was good,” the Portuguese said.
“We didn’t concede again which is important. David de Gea made two or three amazing saves, we are very happy.
“We knew that we needed to push forwards and to try and score from minute one. I was lucky with the first goal and the second goal was amazing, an amazing pass from Mason.
“We are fighting for a place in the Champions League and we know we can achieve this.
“I don’t want to talk too much about me and Paul Pogba, we are happy to play together but I am happy to play with everyone. We can combine together, we have qualities, but we know that we have team-mates who can do well.”
Last Updated: 30/06/20 11:34pm
Cristiano Ronaldo scored with a long-range effort as Juventus sealed a 3-1 win at relegation-threatened Genoa.
Chasing a record-extending ninth straight Serie A title, the victory restored Juventus’s four-point lead over Lazio, who won 2-1 at Torino earlier on Tuesday.
Since losing the Italian Cup final to Napoli in a penalty shootout, Juventus have won all three of their league games since the restart.
Paulo Dybala opened the scoring shortly after the break by evading three defenders before firing in a low shot that Genoa goalkeeper Mattia Perin, on loan from Juve, could only get a weak hand on.
Seven minutes later it was Ronaldo’s turn. The five-time Ballon d’Or winner gathered a pass near midfield, charged toward the goal and unleashed a blistering effort from 22 yards into the top corner past the outstretched Perin.
The Portugal star has now scored 24 goals in 25 Serie A matches this season.
Substitute Douglas Costa made it 3-0 by curling in a shot from beyond the area inside the far post as Genoa’s defence looked on helplessly, with Andrea Pinamonti effort from a tight angle a mere consolation.
Three days after coming back to beat Fiorentina 2-1, Lazio did it again to beat Torino by the same score.
Ciro Immobile and Marco Parolo scored second-half goals to cancel out an early penalty from Andrea Bellotti.
A handball from Immobile led to Bellotti’s penalty and means the striker will miss Saturday’s game against AC Milan with a suspension.
But Immobile made up for his error with an expert finish shortly after the break to lift his total to 29 goals in 29 games – on track to break Gonzalo Higuain’s Serie A record of 36 goals in 2015/16.
Parolo scored the winner with a deflected shot from just beyond the area.
LEAWOOD, Kan.–(BUSINESS WIRE)–AMC Entertainment Holdings, Inc. (NYSE: AMC) (“AMC”) announced today that it has extended the early tender deadline (the “Early Deadline”), the withdrawal deadline (the “Withdrawal Deadline”) and expiration time (the “Expiration Time”) for its previously announced offers to exchange (the “Exchange Offers”) its outstanding senior subordinated notes (the “Existing Subordinated Notes”) for newly issued 12% Cash/PIK Second Lien Secured Notes due 2026 (the “New Notes”) and related consent solicitations (the “Consent Solicitations”), upon the terms and conditions set forth in the Confidential Offering Memorandum dated June 3, 2020 (as amended by the press releases dated June 16, 2020 and June 22, 2020, and as may be further amended or supplemented from time to time, the “Offering Memorandum”).
Extension of Early Deadline, Withdrawal Deadline and Expiration Time
AMC is extending the Early Deadline, the Withdrawal Deadline and the Expiration Time. The Early Deadline and Withdrawal Deadline were previously extended to 11:59 p.m., New York City time, on June 22, 2020, and subsequently extended to 11:59 p.m., New York City time on June 30, 2020 and will now be further extended to 11:59 p.m., New York City time, on July 7, 2020, unless further extended. The Expiration Time was previously 11:59 p.m., New York City time, on June 30, 2020 and will now be extended to 11:59 p.m., New York City time on July 7, 2020. All references to the Early Deadline, the Withdrawal Deadline and the Expiration Time in the Offering Memorandum are hereby amended such that the Early Deadline, the Withdrawal Deadline and the Expiration Time will each be 11:59 p.m., New York City time, on July 7, 2020, and all corresponding references in the Offering Memorandum are hereby adjusted accordingly. Therefore, holders who tender their Existing Subordinated Notes prior to such time will receive the Early Exchange Consideration. Other than the extension of the Early Deadline and Withdrawal Deadline described herein, the terms and conditions of the Exchange Offers and Consent Solicitations remain as set forth in the Offering Memorandum.
Based on information provided by the Exchange and Information Agent, as of 5:00 p.m. New York City time on June 30, 2020, the following amounts of Existing Subordinated Notes have been validly tendered in the Exchange Offer:
Series of Existing Subordinated Notes
Total Aggregate Principal Amount
Percentage of Outstanding
6.375% Senior Subordinated Notes due 2024
5.75% Senior Subordinated Notes due 2025
5.875% Senior Subordinated Notes due 2026
6.125% Senior Subordinated Notes due 2027
Important Information about the Exchange Offers and Consent Solicitations
This press release is issued pursuant to Rule 135c under the Securities Act of 1933, as amended (the “Securities Act”). This press release is neither an offer to sell nor the solicitation of an offer to buy the New Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. The New Notes have not been, and will not be, registered under the Securities Act or any state securities laws, or the securities laws of any other jurisdiction an may not be offered or sold in the United Stated absent registration or an applicable exemption from registration requirements. The Exchange Offers, and the offering of the New Notes, are being made only (1) to persons reasonably believed to be (A) “qualified institutional buyers” as defined in Rule 144A under the Securities Act or (B) institutions where permitted in certain jurisdictions that can provide certifications and other documentation satisfactory to AMC that they are “accredited investors” as defined in subparagraphs (a)(1), (2), (3) or (7) of Rule 501 under the Securities Act, in each case in a private transaction in reliance upon the exemption from the registration requirements of the Securities Act provided by Section 4(a)(2) thereof and (2) outside the United States, to persons other than “U.S. persons” as defined in Rule 902 under the Securities Act in offshore transactions in compliance with Regulation S under the Securities Act.
The Exchange Offers and Consent Solicitations are being made only pursuant to the Offering Memorandum. The Offering Memorandum and other documents relating to the Exchange Offers and Consent Solicitations will be distributed only to eligible holders. The Exchange Offers are not being made to holders of Existing Subordinated Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. The New Notes have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the Offering Memorandum. None of AMC, the dealer manager, the solicitation agent, the exchange agent, the information agent or any trustee (or its agents) of the Existing Subordinated Notes or the New Notes makes any recommendation as to whether holders of Existing Subordinated Notes should participate in the Exchange Offers or consent to the Proposed Amendments.
Holders who desire a copy of the eligibility letter should contact Global Bondholder Services Corporation, the information agent for the Exchange Offers and Consent Solicitations, at (866) 470-4300 (U.S. Toll-free). Banks and brokers should call (212) 430-3774. The eligibility letter may also be found here: https://gbsc-usa.com/eligibility/amc. Global Bondholder Services Corporation will provide copies of the Offering Memorandum to eligible holders.
There are no registration rights associated with the New Notes and AMC has no intention to offer to exchange the New Notes for notes registered under the Securities Act or to file a registration statement with respect to the New Notes.
This press release, the Offering Memorandum and any other documents or materials relating to the Exchange Offers and Consent Solicitations may only be communicated to persons in the United Kingdom in circumstances where Section 21 of the Financial Services and Markets Act 2000 (the “FSMA”) does not apply. Accordingly, this press release and the Offering Memorandum are only for circulation to (i) persons who are outside the United Kingdom, (ii) investment professionals falling within Article 19(5) of the FSMA (Financial Promotion) Order 2005, as amended (the “Order”), (iii) high net worth entities, and other persons to whom the communication may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order or (iv) persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the FSMA) in connection with the communication may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to for purposes of this paragraph as “relevant persons”). The New Notes will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such New Notes will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on the Offering Memorandum or any of its contents and may not participate in the Exchange Offers.
This press release includes “forward-looking statements” within the meaning of the federal securities laws. In many cases, these forward-looking statements may be identified by the use of words such as “will,” “may,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “projects,” “goals,” “objectives,” “targets,” “predicts,” “plans,” “seeks,” and variations of these words and similar expressions. Examples of forward-looking statements include statements we make regarding the impact of COVID-19, our liquidity and our preliminary financial results. Any forward-looking statement speaks only as of the date on which it is made. These forward-looking statements may include, among other things, statements related to the expected timing of and future actions with respect to the Exchange Offers and Consent Solicitations and statements related to AMC’s current expectations regarding the performance of its business, financial results, liquidity and capital resources, and the impact to its business and financial condition of, and measures being taken in response to, the COVID-19 virus, and are based on information available at the time the statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks, trends, uncertainties and other facts that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks, trends, uncertainties and facts include, but are not limited to, risks related to: the impact of the COVID-19 virus on AMC, the motion picture exhibition industry, and the economy in general, including AMC’s response to the COVID-19 virus related to suspension of operations at theatres, personnel reductions and other cost-cutting measures and measures to maintain necessary liquidity and increases in expenses relating to precautionary measures at AMC’s facilities to protect the health and well-being of AMC’s customers and employees; the general volatility of the capital markets and the market price of AMC’s Class A common stock; motion picture production and performance; AMC’s lack of control over distributors of films; increased use of alternative film delivery methods or other forms of entertainment; general and international economic, political, regulatory and other risks, including risks related to the United Kingdom’s exit from the European Union or widespread health emergencies, or other pandemics or epidemics; risks and uncertainties relating to AMC’s significant indebtedness, including AMC’s borrowing capacity under its revolving credit agreement; AMC’s ability to execute cost cutting and revenue enhancement initiatives as previously disclosed and in connection with response to COVID-19; limitations on the availability of capital; AMC’s ability to refinance its indebtedness on favorable terms; availability of financing upon favorable terms or at all; risks relating to impairment losses, including with respect to goodwill and other intangibles, and theatre and other closure charges; and other factors discussed in the reports AMC has filed with the SEC. Should one or more of these risks, trends, uncertainties or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of risks, trends and uncertainties facing AMC, see the section entitled “Risk Factors” in the Offering Memorandum, the section entitled “Risk Factors” in AMC’s Form 10-K for the year ended December 31, 2019 filed with the SEC, and the risks, trends and uncertainties identified in its other public filings. AMC does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.
Last Updated: 30/06/20 11:15pm
Frank Lampard insists he has complete faith in Mason Mount, despite hauling the England star off at half-time in Chelsea’s FA Cup win at Leicester.
The Blues boss substituted Mount, Reece James and Billy Gilmour midway through Sunday’s FA Cup quarter-final.
However, Lampard has moved to throw his backing behind Mount, insisting that tactical change will not affect his long-term thinking.
“Mason wouldn’t have been happy to come off at half-time,” said Lampard.
“But it should be a case of not being happy that evening and then getting straight back to it afterwards, because he knows how much I trust in him and he works brilliantly every day.
“And when I say Mason, I mean Billy (Gilmour) and Reece (James) in the same breath because they show similar attitude.
“There was no problem with Mason because it was a one-off game, I had to make a decision and it doesn’t affect my thinking for West Ham or going forwards.
“Mason played 90 minutes in both the first two games after the restart, and was unfortunate not to score or have an assist. So he had two big performances in a week.
“And then with the Leicester game Mason didn’t have a bad performance and my choices to change were more about the players I could bring into that performance as opposed to the ones that were on the pitch.
July 1, 2020, 8:00pm
“I could make a lot of changes in that game, so it was more about, ‘Can I bring some energy into the team?’
“So I rely on Mason a lot, I did at Derby, I do at Chelsea, he brings so much to the team in his work ethic and the way he can start the press in midfield.
“His quality on the ball is already at a high level and it’s only going to get better.”
Mount could come face to face with friend Declan Rice when Chelsea take on West Ham on Wednesday night, live on Sky Sports Main Event, with Lampard challenging the midfielder to shine in the battle for bragging rights.
“I think it spurs you on more if you have a personal relationship with an opponent either way – whether you are best friends or you don’t even like each other,” Lampard added.
“I also think the result of that is not concrete either – you will either have your best of games in that sort of circumstance but you can also become overly focused on that relationship and have a not so good game.
“They are two very good players. But there is only one thing I will ask of Mason – and from my point of view that is obviously all I care about going into this one. He texts him tonight, he smiles at him in the tunnel or whatever it is, but if and when they go up against each other he has try to beat him in every individual battle that he possibly can.
“And sensing Declan Rice’s character, I am sensing they will both be like-minded on that one. We will see.”
People in Hong Kong could face life in jail for breaking a controversial and sweeping new security law imposed by China.
The legislation came into force on Tuesday but the full text was only revealed hours afterwards.
It was brought in by Beijing following increasing unrest and a widening pro-democracy movement.
Critics say the new law effectively curtails protest and undermines Hong Kong’s freedoms.
The territory was handed back to China from British control in 1997, but under a unique agreement supposed to protect certain freedoms that people in mainland China do not enjoy – including freedom of speech.
Hong Kong’s leader, Carrie Lam, defended the law, saying it filled a “gaping hole” in national security.
Details have been closely guarded and the Beijing-backed politician admitted she had not seen the draft before commenting.
But Ted Hui, an opposition legislator, told the BBC: “Our rights are (being) taken away; our freedom is gone; our rule of law, our judicial independence is gone.”
The UK, EU and Nato have all expressed concern and anger, while pro-democracy groups have started to disband amid fears of immediate reprisals.
Washington, which also urged Beijing to reconsider, had already begun to end the preferential treatment Hong Kong enjoys in trade and travel with the US, bringing it in line with mainland China.
Full details of the new law only emerged after it had come into effect at about 23:00 local time on Tuesday (16:00 BST).
It applies to both permanent and non-permanent residents. Among the details:
The law will not apply to acts which happened before it came into force.
Under the national security law, many of the acts of protest that have rocked Hong Kong over the past year could now be classed as subversion or secession… and punished with up to life in prison.
The city’s pro-Beijing leader, Carrie Lam, said the law was long overdue.
Fearing repercussions, political activists are resigning their posts and one pro-democracy protester, who asked to remain anonymous, told me that ordinary people are now deleting posts on social media.
Many people are just stopping talking about politics, and stopping talking about freedom and democracy because they want to save their own lives. They want to save their freedom and avoid being arrested.
One contact of mine, a lawyer and human rights activist, sent me a message shortly after the law was passed. Please delete everything on this chat, he wrote.
The reaction began the moment the law – which was first announced six weeks ago – was signed by China’s President Xi Jinping.
Pro-democracy activists in Hong Kong began to quit immediately, fearful of the new law, and the punishment it allows.
According to the South China Morning Post, pro-democracy businesses began clearing away any sign they had once supported the protests.
Joshua Wong, secretary-general and founding member of pro-democracy group Demosisto, warned the city would “turn into a secret police state”.
“Beijing’s promise to the world that Hong Kong will have a high degree of autonomy is proven to be a lie,” opposition legislator Ted Hui told the BBC’s Newshour programme.
But despite the risks, some remained determined to go ahead with the banned traditional 1 July rally planned for Wednesday, amid reports of large numbers of police descending onto Hong Kong’s financial district.
The move also provoked international reaction, with the UK’s Foreign Secretary, Dominic Raab, saying China had broken the promises it had made to the people of Hong Kong under the terms of the 1997 handover.
He added that the government “fully” intends to see through plans to change visa rules, offering millions of people in Hong Kong a way to acquire UK citizenship.
That agreement enshrined the “one country, two systems” principle in a document called the Basic Law – Hong Kong’s mini constitution – for 50 years.
The Basic Law protects rights such as freedom of assembly and freedom of speech – neither of which exist in mainland China – and also sets out the structure of governance for the territory.
Julian Braithwaite, Britain’s ambassador to the United Nations in Geneva, told the UN Human Rights Council that the law “has clear implications for human rights”.
Mr Braithwaite, speaking on behalf of 27 nations, urged China to reconsider.
The report recommended that organisations set aside a dedicated budget to ensure smooth functioning and wide coverage of their whistle-blower programmes and mandate annual training sessions for all employees. (File Photo)
About half of working professionals in Indian companies do not have confidence that their whistle-blower complaints will be addressed and about two-thirds report having fears about having their complaints handled confidentially, according to a survey by Deloitte India. Listed companies, companies which accept public deposits, and companies which have borrowed Rs 50 crore or more from banks or public financial institutions are required to establish a vigil mechanism for directors and employees to report genuine concerns
“There are cases where companies may simply appoint the company secretary or the CFO as the ombudsman (instead of an independent committee). This can lead to low confidence amongst employees over the perceptions of independence and confidentiality of the whistle-blowing mechanism,” said Nikhil Bedi, partner and leader, forensic services–financial advisory, Deloitte India. As per the survey, individuals such as the head of HR or internal audit were the custodians of the whistle-blower programmes of over half of the respondents, with the rest being headed by committees such as the ethics committee or the audit committee.
Bedi noted that there was room for improvement in the whistle-blower mechanisms implemented by many Indian companies, particularly in the area of reporting complaints anonymously through multiple channels.
Bedi said that companies had become aware of the need for a robust whistle-blower mechanism and that for such programmes to become effective in the future, there was a need for documenting a comprehensive whistle-blowing policy, providing training to employees on using the channels without fear of retaliation, and regularly communicating the actions taken on whistle-blower complaints received.
The survey found that 45 per cent of employees had only partial or no information about their company’s whistle-blower program and 48 per cent reported never receiving any training on the usage of the programme.
It noted that international studies had found that whistle-blower mechanisms had reduced fraud losses for companies by 50 per cent. About 12.5 per cent of the survey respondents who were custodians of their organisation’s whistle-blower programme said their company did not have a whistle-blower document, while another 35 per cent of respondents said they saw a reduction in losses due to early detection of fraudulent practices. The report noted that organisations largely only offered one channel to report concerns, with only 33 per cent of respondents running whistle-blower programmes saying they offered at least three channels in their whistle-blowing mechanism including e-mail, live voice answering and voicemail.
The report recommended that organisations set aside a dedicated budget to ensure smooth functioning and wide coverage of their whistle-blower programmes and mandate annual training sessions for all employees.
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