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iGaming growth drives 4.2% increase in UK gaming yield

first_img5th December 2018 | By contenteditor Casino & games Online casino, sports betting and bingo yield now accounts for 37% of market total iGaming growth drives 4.2% increase in UK gaming yield Topics: Casino & games Finance Regions: UK & Ireland Tags: Online Gambling OTB and Betting Shops Email Address The UK online gaming industry has seen total gross gaming yield (GGY) for the 12 months ended March 31 climb to £5.3bn (€6bn/$6.8bn), with the sector now accounting for 37% of the market total.Total market yield rose 4.2% year-on-year to £14.4bn, according to the UK Gambling Commission’s figures, with a 12.8% increase from remote gaming, comprising betting, bingo and casino, offset by slower growth or decline in all other regulated verticals.Of the total £5.3bn online GGY, the vast majority was generated from casino and sports betting. Casino accounted for £2.9bn (54.6%) of the total, followed by betting, with a £2.1bn (38.7%) share. The remaining 6.6% came from bingo (£164.8m or 3.1%), exchange betting (£160.1m or 3%) and pool betting (£28.7m or 0.5%).Online casino GGY was comprised largely of slots, which generated £2bn (69.1%) of the total, followed by table games in a distant second place with yield of £311.1m.In sports betting, football accounted for £1bn of total yield, followed by £610m from betting on horse racing.Over the reporting period, active customer account numbers across all licensed operators grew 12.9% to 33.6m, with new account registrations up 14.4% to 35.4m. This looks set to grow further in the figures for the year ended September 30, 2018, which are due to be released in February 2019.The second largest single vertical was land-based betting, which saw GGY decline 4.1% to £3.3bn. The bulk of the total came from off-course betting facilities, which accounted for £3.1bn, followed by £146.5m from non-remote pool betting, and £25.8m from on-course wagering.However, GGY for off-course betting is likely to decline significantly from April 2019, as a result of maximum fixed odds betting terminal (FOBT) – or B2 machine – stakes being cut to £2. Gaming machines accounted for £1.8bn of shop GGY, with B2 machines generating 96.1% of this total.Over-the-counter wagering accounted for £1.3bn, or 42.1% of total non-remote betting GGY.Shop numbers declined 1.8% over the year to 8,406, with this number again expected to fall as a result of the FOBT stake cut. William Hill-branded shops account for 27.1% of all UK betting shops, followed by Ladbrokes premises at 22%. With a 19.6% share Betfred comes in third, followed by Gala Coral – like Ladbrokes, part of GVC Group – with 18.3% of all UK premises.The National Lottery was the UK’s third-largest source of GGY, posting a marginal rise to £3bn for the 12-month period. The lottery paid out £3.9bn in prizes, down 0.4% year-on-year, with its contribution to good causes rising 1.5% to £1.5bn.It was followed by bricks-and-mortar casinos, which saw GGY rise 2.4% to £1.2bn. There were 152 casinos throughout England, Scotland and Wales, with Rank Group and Genting UK dominating the market, operating 72% of all venues.American roulette was the most popular game, with a 34.7% share of GGY, followed by baccarat variant Punto Banco with a 24.9% share, then electronic gaming (17.4%).The remaining regulated verticals lagged far behind the four largest verticals. Land-based bingo reported a 0.2% increase in GGY to £688.3m, while lotteries, including online and land-based offerings, saw yield rise to 13.7% to £502.9m. The arcade sector was the only to post a decline in yield, which fell 0.9% to £418m.The regulator also published figures on social responsibility controls, which revealed that 1.4 million customers self-excluded from gambling during the reporting period. A total of 121,163 customers breached their self-exclusion by gambling in some form, while 78,005 opted to resume playing after their exclusion ended.Over the 12 months, 247,243 individuals unable to prove their age were challenged when trying to enter gambling premises, with the majority of these instances taking place in betting shops or arcades. Just 78 individuals were challenged when attempting to enter a casino.A further 88,971 individuals gambled without being able to verify their age. Online accounted for 72,033 of these incidents. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletterlast_img read more

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PointsBet partners with La Liga North America

first_img12th March 2020 | By Daniel O’Boyle Topics: Marketing & affiliates Sports betting La Liga, Spain’s top flight football competition, has appointed Australian operator PointsBet’s US subsidiary as the official betting partner of its LaLiga North America joint venture with sports media and events business Relevent Sports Group. Under the agreement, PointsBet gains access to LaLiga intellectual property for use in marketing campaigns, as well as working on initiatives to uphold sporting integrity. It will also add the PointsBet Prediction of the Week to LaLiga North America’s content portfolio, a weekly segment in English and Spanish that will be presented by Liverpool FC legend Luis Garcia, retired footballer Jimmy Conrad and National Womens Soccer League analyst Chelsea Cabarcas.PointsBet USA chief executive Johnny Aitken said the partnership would aid the operator’s efforts to build an audience among the US Spanish-speaking community.“We are thrilled to have been appointed as the first exclusive sportsbook partner of LaLiga in the US commencing ahead of the much anticipated El Gran Derbi later this month,” Aitken said. “As one of only a few operators to offer a Spanish-language website, this partnership complements PointsBet’s commitment to provide relevant multilingual content to the Spanish-speaking community.”Boris Gartner, chief executive of La Liga North America, said the partnership will bring La Liga closer to its growing American fanbase.“Soccer is growing at a very fast pace in the US and the role that La Liga plays in that growth is important for fans and brands in that region,” Gartner said. “”We are excited to grow with PointsBet in the market and enhance the fan experience by bringing LaLiga closer to the fervent audience that exists in the US.”The agreement is the latest in a series of league partnerships for PointsBet in the US. As well as the NFL and XFL, PointsBet partnered with the NBA in February.The LaLiga North America joint venture was struck to build the profile of the Spanish league across the US and Canada, through a range of promotional activities including events, marketing partnerships, youth academies and coaching, culminating in controversial plans to have LaLiga matches take place in the US. La Liga, Spain’s top flight of football, has appointed spread betting operator PointsBet USA as the Official Betting Partner of La Liga North America in an “exclusive multi-year agreement”. Regions: Europe US Nordics Sweden Marketing & affiliates Email Address Tags: Spread Betting PointsBet partners with La Liga North America Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

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Medtech Holdings Limited ( 2017 Abridged Report

first_imgMedtech Holdings Limited ( listed on the Zimbabwe Stock Exchange under the Pharmaceuticals sector has released it’s 2017 abridged results.For more information about Medtech Holdings Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the Medtech Holdings Limited ( company page on AfricanFinancials.Document: Medtech Holdings Limited (  2017 abridged results.Company ProfileMedTech Holdings is a manufacturing, retail, distribution and services company in Zimbabwe. The company operates in three market segments; fast-moving consumer goods, medical supplies and manufacturing of light industrial products. The FMCG division manufactures and markets personal care products, and the medical division produces pharmaceutical products for the wholesale distribution to retail pharmacies. It also supplies products for laboratories and services education and healthcare institutions. MedTech has retail outlets in Harare and Bulawayo, and a manufacturing plant the produces petroleum jelly and glycerin, health, beauty and personal hygiene products and over-the-counter pharmaceutical products for the local Zimbabwe market aswell as for export to Mozambique and Zambia through its subsidiary Baines Imaging Group. MedTech Holdings Limited is listed on the Zimbabwe Stock Exchangelast_img read more

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Ilot A3, Tour de Logements / Herzog & de Meuron

first_img Etamine, Vaulx en Velin France MEP Engineering: CNE, Vaulx en Velin Acoustics: Save this picture!© Julien Lanoo+ 25Curated by Fernanda Castro Share Area:  5751 m² Year Completion year of this architecture project Projects General Contractor: 2017 Iliade Setam, Caluire et Cuire Sustainability Consultant: Year:  Photographs Apartments ShareFacebookTwitterPinterestWhatsappMailOr Clipboard “COPY” Léon Grosse, BRONcenter_img “COPY” Ilot A3, Tour de Logements / Herzog & de Meuron Ilot A3, Tour de Logements / Herzog & de MeuronSave this projectSaveIlot A3, Tour de Logements / Herzog & de Meuron ArchDaily Batiserf, Fontaine, France Artelia, La Plaine Saint Denis Construction Security:Alpes ContrôlesCost Consultant:Caluire et Cuire, IliadeDesign Consultant:Herzog & de MeuronExecutive Architect:AFAA, PSO Ingénieurie, Serrieres, France ELANPhotovoltaic Engineering:Transenergie, ÉcullyRoads & Networks Engineering:Cap Vert Ingénierie, LyonFacade Engineering:EPPAGVentilation Plumbing:Patricola, MontanyClient:Icade Promotion, SPLFire Security / Code:Veritas, Paris, FranceSite Area:835 m2Partners:Jacques Herzog, Pierre de Meuron, Christine BinswangerProject Team:Christoph Röttinger, Emmanuel Guilloux, Claire Gamet, Delphine Camus, Chloé Eckert, Shusuke Inoue, Sara Jimenez, Antoine Meinnel, Alexa Nürnberger, Romain PequinFire Security:VeritasCode:VeritasCity:LyonCountry:FranceMore SpecsLess SpecsSave this picture!© George DupinRecommended ProductsWindowspanoramah!®ah!38 – FlexibilityFiber Cements / CementsDuctal®Ductal® Cladding Panels (EU)WindowsJansenWindows – Janisol PrimoFiber Cements / CementsRieder GroupFacade Panels – concrete skinText description provided by the architects. H&deM designed the master plan of Confluence for the Rhone river side (ZAC II) between 2009 and 2011 and has being supervising the urban development since then. The project proposes 14 “îlots” of approximately 100 buildings mixing uses and typologies. Îlot A3 is the first “îlot” in the new Confluence district “Quartier du Marché” to be developed as a pioneer for the entire area. H&deM acted as “Architecte en Chef d’Îlot” for the translation of urban guidelines into architecture.Save this picture!© Jonathan LetoublonSave this picture!AxonometrySave this picture!© Julien LanooSave this picture!TypologiesSave this picture!© Maxime DelvauxIlot A3 consists on an open bloc of 8 buildings with housing, offices and retail designed by 6 offices including AFAA, Tatiana Bilbao, Manuel Herz, Christian Kerez, H&deM and Michel Desvigne as landscape architect. In the center of the bloc there is a courtyard with a day care. The introduction of 16 floor high towers in the master plan offers simultaneously the possibility to keep a relative high density as well as having small-scale buildings of 3 stories. Thus, it provides a variation of urban scales within the same bloc.Save this picture!© Maxime DelvauxSave this picture!© George DupinThe residential tower on Îlot A3 is designed by Herzog & de Meuron. The volume is a simple extrusion defined by rounded loggias in the corners. The curved mineral facade has single and repetitive square openings. Its appearance relates to the very structured and homogenous facades of the buildings in the old town of Lyon. As opposed to the curves of the concrete, windows and sunshades are combined in a polygonal metallic frame specifically developed for the project. Their position follows the rectilinear grid of the floorplan. The geometry of the metallic window frames offers the possibility to use the shading system when the tilting window is open.Save this picture!© Julien LanooProject gallerySee allShow lessBeauty Matters at the Tallinn Architecture Biennale 2019 as Curators are AnnouncedArchitecture NewsFamily House Neveklov / ATELIER KUNC architectsSelected ProjectsProject locationAddress:97 Cours Charlemagne, 69002 Lyon, FranceLocation to be used only as a reference. It could indicate city/country but not exact address. Share FONDACONSEIL, La Tour Salvagny Photographs:  Julien Lanoo, Maxime Delvaux, Jonathan Letoublon, George Dupin CopyApartments•Lyon, France ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Geotechnical Engineering: Architects: Herzog & de Meuron Area Area of this architecture project Structural Engineering: Electrical: Synacoustique CopyAbout this officeHerzog & de MeuronOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingApartmentsLyonFrancePublished on May 24, 2018Cite: “Ilot A3, Tour de Logements / Herzog & de Meuron” 24 May 2018. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogAluminium CompositesTechnowoodWood Siding in KSR Villa BodrumRailing / BalustradesMitrexIntegrated Photovoltaic Railing – BIPV RailingMetal PanelsAurubisCopper Surface: Nordic DécorWindowsAir-LuxSliding Window – CorneringWoodBruagRoom Acoustics – Interior Cladding PanelsSinksBradley Corporation USASinks – Frequency® FL-SeriesMetal PanelsTrimoInternal Walls – Trimoterm, Qbiss OneGlassSolarluxWintergarden – SDL Akzent plusSystems / Prefabricated PanelsInvestwoodCement Bonded Particle Board – VirocPaintKEIMMineral Paint in Hunters Point LibraryCabinetsburgbadMid-Height Cabinet – EssentoSignage / Display SystemsGlasbau HahnMuseum Display CasesMore products »Save想阅读文章的中文版本吗?住宅塔楼 ‘Ilot A3’ / 赫尔佐格 & 德梅隆建筑事务所是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! 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BBC Children in Need raises £46,624,259 & announces first Sir Terry Award winner

first_imgBBC Children in Need raises £46,624,259 & announces first Sir Terry Award winner Tagged with: Awards BBC Children in Need Celebrity AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 Melanie May | 29 November 2016 | News  143 total views,  1 views todaycenter_img About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via  144 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 This year’s BBC Children in Need has so far raised £46,624,259.Funds raised included £5,813,784 by Radio 2, £347,486 and £2,607,182 by DIY SOS: Million Pound Build for BBC Children in Need, and Countryfile, and £3,565,044 by The One Show’s Rickshaw Challenge, which saw Matt Baker and six young people who have all benefited from BBC Children in Need funding cycle the length of the country, from Jedburgh to New Broadcasting House. The ‘best bits’ from BBC Children in Need Rocks for Terry at the Royal Albert Hall, also raised £878,746.The inaugural Sir Terry Wogan Fundraiser of the Year Award was also awarded, to 11 year-old Lauchlan who, in his sixth year of fundraising for BBC Children in Need, performed as a living statue in shopping centres across Central Scotland. The award was created in honour of the late Sir Wogan who died in January this year and was the charity’s Life President, to recognise an outstanding individual or group for their fundraising for the charity.Children in Need 2016 (C) BBC – Photographer: Kieron McCarronThis year, the TV event was presented by Greg James and Tess Daly, Graham Norton and Ade Adepitan, and Rochelle and Marvin Humes. As well as performances by stars including Little Mix, Zara Larsson, Busted, David Brent, and Craig David, the show also featured a Fantastic Beasts special, a kids’ edition of Would I Lie To You, an exclusive preview of the Dr Who Christmas Special, a Citizen Khan vs Citizen Kane sketch and a Call The Midwife Christmas clip.Simon Antrobus, chief executive of BBC Children in Need, said:“Everyone should feel really proud. The remarkable generosity shown, and the amazing total raised, will go on to help change the lives of disadvantaged children and young people all across the UK.”Main image: Marvin Humes, Rochelle Humes, Graham Norton, Tess Daly, Greg James, Ade Adepitan – (C) BBC Advertisementlast_img read more

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World’s biggest bra to be auctioned for Breast Cancer Care

first_imgWorld’s biggest bra to be auctioned for Breast Cancer Care WATCH: Hartmann: The World’s Biggest Bra[youtube][/youtube] Tagged with: auction Cancer Fundraising eBay Guinness World Record  501 total views,  4 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis15 Remember the giant fluorescent bra that appeared on the side of ITV’s South Bank tower in London in 2011? The record-breaking undergarment is now being auctioned to raise funds for Breast Cancer Care.The bra was constructed by Chillisauce, the specialist events company. It was part of their support for Wear It Pink Day. Visible on the side of ITV’s South Bank tower, passers-by were encouraged to donate to the cause. Built by the last remaining firm of sailmakers in London, the bra was unveiled live on ITV’s This Morning.The late Liz Monks was Director of Fundraising of Breast Cancer Campaign (now Breast Cancer Now) at the time. She said: “This world record brought Wear It Pink Day the public attention it deserves as a fantastic fun day for anyone to join in.”The bright pink bra weighs 90kg and is an estimated 1360B in size. It was inspired by the 34B Gorgeous t-shirt bra by Debenhams. “Even the bra clips and buckles are identical”.The Debenham’s bra on which the giant bra was measured. Model not actual size. It is being auctioned on eBay and Chillisauce say that they will donate every penny from the auction to Breast Cancer Care.It was officially recognised by the Guinness World Records as the biggest bra on the globe. It was originally auctioned for charity in November 2012.The bra in numbersThe bra itself was modelled on a 34B ‘Gorgeous’ t-shirt bra which was available to buy at Debenhams at the time. The bra took four weeks to make, and was entrusted to London’s last remaining sailmakers, M Pull Sailmakers.Made up of 270m of material, the bust measurement reaches 29.6m, it has an under bust measurement of 26.72m and is an estimated 1360B in cup size. Howard Lake | 2 February 2018 | Newscenter_img Advertisement AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis15 Mike Chidzey, spokesperson for said: “The bra has given us much happiness here at Chillisauce over the years and we feel it’s about time someone else experienced this for themselves. This is a once in a lifetime opportunity to own a landmark piece of underwear and all for a good cause.“Our aim in auctioning the bra is to build awareness and involvement in World Cancer Day as well as raise money for Breast Cancer Care in the process.”You can find out more about the world’s biggest bra from Chillisauce.  500 total views,  3 views today About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of Researching massive growth in giving.last_img read more

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Restaurant workers get support

first_imgWW photo: Anne PrudenA strong, multinational protest took place on July 19 in front of the Capital Grille on East 42nd Street, a restaurant for the 1%. It was called during “Restaurant Week” by Restaurant Opportunities Center of New York (ROC-NY), to which some Capital Grille workers belong. The nonprofit organization seeks improved working conditions for restaurant workers throughout the city. Occupy Wall Street organizers with “99-Pickets” and activists with Community/Labor United for Postal Jobs and Services, May 1st Coalition for Worker and Immigrant Rights, and other groups joined the lively protest.The demonstration condemned the restaurant’s theft of wages, racial discrimination and management’s profiting from the racist exploitation of its workers. With some dressed in restaurant workers’ uniforms, protesters passed out fliers exposing “Capital Grille’s dirty dishes!” Capital Grille workers in five cities are part of a lawsuit claiming they worked off the clock without compensation and were forced to share tips with some nontipped co-workers. They have filed racial discrimination charges with the Equal Employment Opportunity Commission because immigrant workers and workers of color have labored for almost eight years without being promoted to servers.Meanwhile, Darden Restaurants, the parent company of the Capital Grille, earned half a billion dollars in profits in 2011, which went to executives and Wall Street investors, such as JPMorgan Chase. Yet workers have no paid sick leave. They must work more than one job during a shift for the same pay and end up working for years without a raise.Capital Grille workers are fighting mad and fighting back! They will win this one with unity, solidarity and working-class strength. The growing awareness via the OWS movement and increased union-busting attempts at Con Edison, Verizon and the U.S. Postal Service have fired up many in the working class. For more information about Capital Grille’s dirty dishes, go to and support the next ROC-NY protest!FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

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Houston activists demand Indigenous Peoples Day

first_imgHouston activists rallied at a statue of slave owner Sam Houston, then marched to a statue of Christopher Columbus in Bell Park on Oct. 30, condemning Columbus Day and demanding it be replaced with Indigenous Peoples Day.Initiated by the Brown Berets de TejAztlan, a campaign has begun to get the city of Houston, Harris County and the state of Texas to recognize, adopt and celebrate Indigenous Peoples Day.The spirited march arrived at Bell Park to find that the police had barricaded the Columbus statue, so the multinational crowd encircled the monument to the man who began the genocide of Indigenous peoples. Speaker after speaker condemned the colonization of the land by Europeans and called for unity to change the distorted history and outright lies propagated by schools, politicians and many historians.The rally was chaired by Oscar Gonzalez, a member of the Karankawa nation. Speaking were members of the Brown Berets de TejAztlan, Black Lives Matter Houston, the Carnalismo Brown Berets, Workers World Party and the Democratic Uhuru Movement.The rally ended with Native blessings, drumming and dancing by Danza Azteca Taxcayolotl.Indigenous activists and supporters will speak before the City Council on Oct. 3 to present a resolution calling on the city to recognize Indigenous Peoples Day. The same will later be presented to the county government.While neither Houston nor Harris County recognizes Columbus Day as a holiday, the state of Texas does. The committee’s long-range goal is to have Texas drop its official holiday of Columbus Day, as well as Confederate Heroes Day, and instead adopt Indigenous Peoples Day as a state holiday.Columbus Day wasn’t a federal holiday until 1937, almost 450 years after a lost Columbus landed here. In 1992, Berkeley, Calif., became the first U.S. city to adopt Indigenous Peoples Day. In the last few years, momentum has been building, and now dozens of cities, states and universities recognize Indigenous Peoples Day, including Albuquerque, N.M.; Cambridge, Mass.; Denver; Los Angeles; Minneapolis; and Tahlequah, Okla.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

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Fire forces staff evacuation from Shannon factory

first_imgTwitter NewsBreaking newsFire forces staff evacuation from Shannon factoryBy Staff Reporter – March 26, 2016 706 Email Limerick’s National Camogie League double header to be streamed live Linkedin Print WhatsApp RELATED ARTICLESMORE FROM AUTHOR Predictions on the future of learning discussed at Limerick Lifelong Learning Festival Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clashcenter_img Previous articleDPP fails in bid to appeal Limerick drug dealer’s sentenceNext articleThe Irish Chamber Orchestra’s ‘1916 – Revolution and Rhetoric’ Staff Reporter WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Limerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” TAGSfirelimerickOhshimaShannonstaff evacuatedTokyo Facebook Advertisement A FIRE at a Shannon based factory on Good Friday led to the evacuation of up to 50 staff.Workers at the Ohshima plant in the Shannon Free Zone were evacuated on Friday shortly before 4pm when a piece of machinary caught fire.Sign up for the weekly Limerick Post newsletter Sign Up Three units from the nearby Shannon based Fire and Rescue service were alerted to the blaze at the factory located adjacent to Shannon Airport which specialises in high volume sheet metal fabrications.Around 50 staff were working at the factory at the time and fire and rescue service monitored the the scene for a number of hours before declaring the area safe.Ohshima, which is headquartered in Tokyo has six facilities worldwide and Shannon is one of its two Irish bases.It is understood that an internal investigation has now been launched to determine the cause of the fire. Limerick Ladies National Football League opener to be streamed live last_img read more

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Concerns Over Rent Affordability Aren’t Going Anywhere

first_img  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Servicers Navigate the Post-Pandemic World 2 days ago About Author: Kendall Baer Previous: Job Report Paints Mixed Housing Picture Next: Aspen Grove Solutions and NAMFS Gain a New Partner Share Save The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles 2016-10-07 Kendall Baer Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Concerns Over Rent Affordability Aren’t Going Anywhere Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Concerns Over Rent Affordability Aren’t Going Anywhere Sign up for DS News Daily October 7, 2016 1,597 Views Annual growth in median rents nationwide have slowed from last summer’s extreme pace. But according to the Zillow Rent Forecast, just because rental growth is slowing down, doesn’t mean it’s not still expected to grow in some of the nation’s hottest markets, contributing to continued affordability concerns.The Zillow Rent Forecast reveals that markets in which technology jobs are especially prevalent, such as Seattle, Denver and the San Francisco Bay Area, will continue over the next year to be on the forefront of rental growth.The report forecasts U.S. rents to grow by 1.7 percent through August 2017, to a Zillow Rent Index of $1,429 per month. Zillow notes that among the 35 largest metro markets, rents are expected to grow the fastest over the next year in Seattle by 7.2 percent, Portland by 6 percent, Denver by 5.9 percent, Cincinnati by 5.2 percent, and San Francisco by 4.9 percent. This continues a recent trend seen in August where Seattle and Portland led all large markets in annual rental appreciation, according to the Zillow Real Estate Market Report.Based solely on monetary value, the report shows that the two Bay Area metro markets of San Jose and San Francisco, remain the most expensive large rental markets in the country, by a landslide. The amount renters in and around San Jose should currently spend is about $3,517 per month. For the San Francisco area, median rent runs roughly $3,406 per month. In looking at the next highest priced rental market though, Los Angeles came in at approximately $2,593 per month.Zillow forecasts that in the next year, these multi-county areas will still continue to be ranked among the nation’s priciest and if rents rise as expected, by the end of next summer renters in San Francisco should expect to budget $3,573 per month. For those in San Jose, a median rent is expected to rise to $3,677 and for renters in Los Angeles the median price to rent is anticipated to be close to $2,718 per month.Continued rapid growth in rents will ensure that rental affordability concerns remain an important issue going into 2017. Despite this, Zillow notes that recent strong gains in income growth will help keep rental affordability and the share of income devoted to rent each month in check. Subscribelast_img read more

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