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Catalyst Paper Will Undergo Recapitalization

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first_imgIn what appears to be a direct result of the paper industry’s continued struggle, British Columbia-based manufacturer Catalyst Paper will move forward with a recapitalization transaction to correct its current financial situation. According to a company statement, the improved capital structure will eliminate $315.4 million of Catalyst’s debt.In addition to the significant reduction, the restructuring is approved by the companies’ creditors with the hope of “enhanced flexibility to respond to the downturn in the market for paper, newsprint and pulp”. Catalyst is working with Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP for legal counsel, and Perella Weinberg Partners will be the company’s financial advisors through the recapitalization.Upon the plan’s completion, which will be carried out under the Canada Business Corporations Act, a new board of directors will be appointed for Catalyst Papers. A move like this is not surprising, considering the currently volatile state of the paper industry. Paper demand has declined, as magazine’s print properties still have not made a full recovery from the recession. The digital draw to tablets and other mobile devices also presents a conundrum for an industry largely based on supplying print supplies to magazines. While many publishers expected prices to drop as demand for paper has, the reality is that supply is still meeting demand, according to paper industry insiders.After January 14’s initial announcement, Catalyst released another statement today reasserting the consensual restructuring process, as opposed to “certain media reports” of bankruptcy proceedings.Catalyst operates four mills between British Columbia and Arizona, with a collective annual production capacity of 1.9 million tons.last_img read more

Oculus Quest and Rift S available for preorder both at 399 shipping

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first_img Now playing: Watch this: Preview • PlayStation VR made us smile, and it’s because of the games Mobile Gaming Digital Media Virtual Reality Apps Amazon Oculus Quest unboxed: what’s inside Facebook’s new VR… 43 Photos 1 Now playing: Watch this: We took Oculus Quest on vacation We took Oculus Quest on vacation at Amazon Enlarge ImageThe Oculus Quest (left) and Oculus Rift S (right) are both arriving in May, and both cost $399. John Kim/CNET Oculus ignited people’s interest in virtual reality when it announced a Kickstarter for the Rift headset in 2012, promising high quality VR for $300.  Fast-forward seven years, after a more than $2 billion acquisition by Facebook and the 2016 release of the Rift, and Oculus is preparing to launch its next-generation VR headsets.  They’re called the Oculus Quest and the Rift S, and both will cost $399 (£399 in the UK; Australian pricing is TBA but the UK price converts to about AU$740). But they’re rather different headsets.  The Oculus Quest is self-contained, working without a computer to power it or any extra sensors set up around a room to track where you’re moving. The Rift S, meanwhile, offers better visuals while still connected by wire to a computer, but it also ditches sensors around a room. “Now, getting into VR is as easy as gaming on a console,” Facebook said in a statement. The new headsets come as Valve, whose Steam store and Half-Life first-person shooter series have made it a household name among gamers, prepares to release its first headset, the $499 Valve Index. And that’s not including other competitors, such as Sony’s $299 PlayStation VR, HTC’s Vive and headsets from Lenovo, HP and Samsung that’re powered by Microsoft’s Windows Mixed Reality technology. 58-oculus-questEnlarge ImageThe Quest is a wireless self-contained headset, offering a middle ground between the low-power Oculus Go and high-power Rift S. Sarah Tew/CNET The Quest is a new device Whereas the Rift and Rift S rely on an outside computer connected by a wire to power the virtual world you see, and the $199 Oculus Go is designed to be a wire-free self-contained entry-level VR device, the Oculus Quest is meant to be somewhere in the middle.  At its heart, the Quest is meant to offer higher-end games designed to work with the Oculus hand controllers, like the music rhythm game Beat Saber and the boxing game Creed: Rise to Glory. But it’s also self-contained, running a powerful, yet small, computer in the headset. To pull off that trick, developers say, the Oculus Quest isn’t as capable as its beefier cousin, the Rift S. Its screen doesn’t show as many details, it’s not able to pack as many characters on the screen at a time, and apps made for it can’t assume they’ll always be connected to the internet. (Sometimes people might take this on a train or on vacation). The Quest still uses the same controllers as the Rift S Though the Quest and Rift S won’t always be able to play the same games, the Quest will have the same controllers. That’s a step up from the entry-level Oculus Go, which had a simpler, wandlike controller that wasn’t capable of doing as much as the more full-fledged hand controllers Oculus offers. Oculus Quest is fully mobile VR They’re both $399, go on preorder Tuesday and ship May 21 If you’re already convinced, you can preorder the devices on the Oculus website, at Amazon and elsewhere. Full preorder info is available here, or you can just use the buttons below (note that CNET may get a share of revenue from the sale of the products). See Quest at AmazonSee Rift S at Amazon 5:18 $217 5:18 Tags See It $398.00 Comment Oculus Valve Virtual Reality Facebook HTC Microsoft Samsung Sony Nintendo Review • PlayStation VR is pretty damn cool Best laptops for college students: We’ve got an affordable laptop for every student. Best live TV streaming services: Ditch your cable company but keep the live channels and DVR. Share your voice Whether the new devices will draw users is anyone’s guess. A recent survey from industry tracker IDC, which was sponsored by Sony, found that headset sales in the US, UK, Germany, France and Japan rose 60% in 2018 to 3.9 million headsets, up from 2.4 million in 2017. But that’s still small compared with the hundreds of millions of video game consoles Sony, Microsoft and Nintendo have sold since 2013. Here’s everything to know about the Quest and Rift S so far. The Rift S is a refinement  Oculus says the Rift S will offer more-detailed and sharper-looking visuals than the original Oculus Rift, which shipped in 2016. But the real change is to the cameras mounted on its sides. There are two in the front, one on each side, and one on the top, all designed to track the outside world using a technology called “Oculus Insight,” so that the headset knows when you’re leaning one direction or another or suddenly duck to avoid something. Those cameras work in concert with the company’s hand controllers too. See it CNET Review Oculus Quest The standalone VR headset earns our Editors’ Choice. Read Review Sony PlayStation VR 8:25 Mentioned Above Sony PlayStation VR (Headset) $245 CNET may get a commission from retail offers. Now playing: Watch this:last_img read more

RBIs Reference Rate for Dollar Today

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first_imgThe Reserve Bank of India (RBI) on Friday fixed the reference rate for the US dollar at 49.3525 rupees and the euro 65.6263 rupees.The corresponding rates of dollar and euro for the previous day (March 1, 2012) were 49.1545 rupees and 65.5692 rupees respectively.Based on the reference rate for the US dollar and middle rates of the cross-currency quotes, the exchange rates of British pound as against the rupee is 78.6827 as against 78.2490 on the previous day (March 1, 2012) and that of Japanese yen is 60.61 as against 60.67 the previous day.last_img read more

India launches antimilitant drive in Kashmir

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first_imgIndian army soldiers conduct a patrol during an operation against suspected rebels in Turkwangam Lassipora in Shopian south of Srinagar on 4 May, 2017. Photo: AFPThousands of soldiers and paramilitaries were Thursday engaged in a huge anti-militant operation in Indian-administered Kashmir, where armed rebels have repeatedly attacked government forces in recent weeks.Police said government forces had surrounded at least 20 villages in the drive, launched early Thursday in Shopian district in the volatile south of the disputed Himalayan region.“It is an unprecedented operation,” deputy inspector general of police S P Pani told AFP.“It is impossible to capture the militants, but we hope there will be contact (exchange of fire) with them in the course of the day.”Suspected militants are frequently killed in shoot-outs with government forces in Kashmir, but are only rarely captured alive.Witnesses said hundreds of residents came out onto the streets in two villages, Sug and Tarkwangan, during the search operations and threw stones at the soldiers.Indian army soldiers conduct a patrol during an operation against suspected rebels in Turkwangam Lassipora in Shopian south of Srinagar on 4 May, 2017. Photo: AFPOne said soldiers had attacked private homes in his village with sticks and rocks.“It was scary. Many houses were damaged,” the villager told AFP by phone, requesting anonymity.Witnesses said army helicopters were hovering above the area as the search operations were going on.Kashmir has been divided between India and Pakistan since the end of British rule in 1947, but both claim the territory in its entirety.Rebel groups have fought for decades the roughly 500,000 Indian soldiers deployed in the Himalayan territory, demanding independence or a merger of the entire territory with Pakistan.Officials say the rebels’ ranks have swelled since July, when the killing of a popular leader by security forces sparked widespread unrest that left at least 100 civilians dead.Since then armed encounters between rebels and government forces have been more frequent.The latest operation comes after five police were shot dead this week in a raid on a bank van carrying cash—the latest in a series of bank robberies in the region carried out by suspected militants.Last week militants killed three soldiers in a pre-dawn assault on a garrison near the de-facto border known as the Line of Control that divides Kashmir between India and Pakistan.The Kashmir valley has been tense since early April, when election day violence kicked off a series of anti-India protests including by students.Popular support for the militants has also risen and villagers now regularly come out onto the streets during operations to throw stones at government forces.last_img read more

UPDATE Manhunt Underway For Gunman In Maryland Office Park Shooting

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first_img___ Twitter user @musicnews_daily A man with a lengthy criminal past who was fired from a job earlier this year for punching a colleague showed up for work at a countertop company on Wednesday and shot five of his co-workers, authorities said. Three of them were killed and two critically wounded.Less than two hours later, Radee Labeeb Prince drove to a used car lot about 55 miles (90 kilometers) away in Wilmington, Delaware, and opened fire on a man with whom he had “beefs” in the past, wounding him, police said.The shooting rampage set off a manhunt along the Interstate 95 Northeast corridor. Police cruisers were stationed in medians, and overhead highway signs displayed a description of Prince’s sport utility vehicle and its Delaware license plate. The FBI assisted state and local authorities in the manhunt.“This is a person with no conscience,” Wilmington Police Chief Robert Tracy said. “He’s desperate right now.”Authorities said it wasn’t clear why Prince open fired with a handgun on his colleagues.Prince is a felon with 42 arrests in Delaware. Court records showed he had been fired from a Maryland job earlier this year after allegedly punching a co-worker and threatening other employees. He also faced charges of being a felon in possession of a gun, was habitually late paying his rent, was repeatedly cited for traffic violations and was ordered to undergo drug and alcohol counseling in recent years.The rampage began Wednesday about 9 a.m. at the Emmorton Business Park in Edgewood, Harford County, Maryland, Sheriff Jeffrey Gahler said. Deputies arrived in four minutes but Prince had already fled.Kevin Doyle of Thornhill Properties said he was getting tools from his truck when he heard screaming and saw three men running from the office park. The men told him someone was shooting and he asked if they had called 911. They said no, even though, Doyle said, they had phones in their hands.“I think they were just so scared, they didn’t (call 911). They had a look of terror,” he said.The victims and the suspect worked for Advanced Granite Solutions, which designs and installs countertops, the company owner told The Associated Press. Prince has been an employee for four months, working as a machine operator, owner Barak Caba told AP in a brief telephone interview. Caba was shaken and would not provide additional details.Maryland Gov. Larry Hogan, who spoke at an unrelated event, said authorities in helicopters and on the ground were searching for Prince, who may be driving a black 2008 GMC Acadia with the Delaware license tag PC64273.The second shooting took place at the 28th Street Auto Sales and Service shop in Wilmington, Delaware. The police chief wouldn’t elaborate the history the victim and Prince had, other than to say: “This individual knew the people he wanted to shoot.”The victim was shot in the vicinity of his head and once in the body but was expected to survive.Police followed Prince briefly, but they lost him and haven’t seen or heard from him since, the chief said.Prince was fired from JPS Marble and Granite earlier this year and scared his previous employer so badly that he tried to get a restraining order in February.At one point, Prince’s former boss Philip Siason said: “He came to see me, cursed and yelled at me about unemployment benefits. I felt very threatened because he is a big guy and very aggressive on me.”A Harford County District Court judge denied the order, saying the case didn’t meet the required burden of proof.Investigators were treating the shooting as a case of workplace violence and didn’t see ties to terrorism, said Dave Fitz, a spokesman for the Baltimore FBI field office.Since November 2014, Prince has rented a three-bedroom town house in Elkton — about 35 miles (56 kilometers) from the office complex — with his girlfriend, according to a Maryland property manager.Prince often paid his rent late, but was always polite and cooperative, said Heather Todd of Homes for Rent. The company filed eight petitions for nonpayment against the couple, but they always ended up paying and the company never had to schedule an eviction.Prince faced several gun charges in March 2015 in Cecil County, including being a felon in possession of a firearm and carrying a handgun in vehicle. However, the charges were dropped about three months later. It’s not clear why.Wilmington, Delaware, police said Prince had 15 felony convictions there. In King County, Washington, in 2014, he was cited for leaving the scene of an accident and driving with a suspended license, according to Komonews.com.Court records also showed that he was required to undergo drug and alcoholism counseling at the time.Prince racked up four traffic citations in King County in 2012 and 2013, mostly for speeding. A gunman opened fire at a Maryland office park on Wednesday morning, killing three co-workers and wounding two others, authorities and the business owner said. Harford County Sheriff Jeffrey Gahler identified the shooter as 37-year-old Radee Labeeb Prince. He said Prince opened fire with a handgun and then fled the Emmorton Business Park in Edgewood. Police were looking for him, and he was considered armed and dangerous. The sheriff did not release a motive for the shooting. The owner of a home improvement company in the office park said the victims and the suspect all worked for him at Advanced Granite Solutions. Barak Caba told The Associated Press in a brief telephone interview that the suspect has been an employee for four months. He said the man was a machine operator. Caba was shaken and would not provide additional details. The wounded were in critical condition, according to a spokeswoman for the University of Maryland Medical Center’s R Adams Cowley Shock Trauma Center in Baltimore. The FBI is assisting local authorities to find Prince. Investigators are currently treating the shooting as a case of workplace violence and don’t see ties to terrorism, said Dave Fitz, a spokesman for the Baltimore FBI field office. Nearby schools have been locked down as a precaution. The business park is just south of the Interstate 95 interchange with Route 24.center_img Sharelast_img read more

Houston School Board Reinstates Interim Superintendent Sets Timeline for Final Search

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first_img Share Laura Isensee/Houston Public MediaThe Houston school board voted unanimously to officially reinstate the interim superintendent, Grenita Lathan, at a special meeting Thursday.If all goes as planned, the Houston Independent School District could have a new, permanent superintendent by the end of April.The board OK’d that timeline and other measures meant to move past a bitter week. They include:Reinstating interim superintendent, Grenita Lathan;Passing a resolution for “reconciliation” to repair a breakdown of trust and communication;Hiring an executive coach for the nine members of the board;Hiring an executive coach for the interim superintendent; andAsking the Texas Education Agency to replace the state conservator over struggling schools.Board members engaged in little discussion in the Thursday morning special meeting, a marked contrast to the tumultuous meeting a week ago that saw comments about racism and an abrupt dismissal of Lathan as interim leader.HISDTrustee Elizabeth Santos said that personal drama has gotten in the way of important work. “And what work is that? It is the work of finding a permanent superintendent. It is a process that’s been unexpectedly delayed for over 200 days,” she said.Houston schools have been without a permanent superintendent since Richard Carranza left in March to lead New York City Public Schools.For the executive coaching, the board didn’t give details on who would provide that training or how much it would cost. Trustee Sergio Lira issued another apology to the community.“We lost sight, we lost sight of why we’re here,” he said. “We lost sight that student achievement, our students is our focus and our priority.”last_img read more

All things Punjabi

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first_imgAfter three days of a delightful cultural extravaganza that left people wanting for more, the Punjabi Mela came to an end on Sunday(27 April) with high volatage performances of singers Mamta Joshi and Lakhwinder Wadali lighting up the last evening. The talents enthralled the whole mass present at the event.Apart from a blasting ending of the festival, the first evening  (25 April) saw performances by singers Gurmeet Bawa, Lachi and Glory Bawa and Jasbir Jassi. The people of Delhi turned up to devote their Saturday to a rocking Punjabi feast, where hugely popular Pakistani singer Shafqat Amanat Ali charmed the audience with his performance on the second day (26 April). Also Read – ‘Playing Jojo was emotionally exhausting’Presented by the Punjabi Academy, the three-day festival showcased the vibrancy of the land of five rivers at the Indira Gandhi National Centre for Arts where the best of Punjab was brought to the capital. Ranging from the traditional artefacts of Punjab like phulkari and Punjabi jutti to bhangra and giddha and mouth licking delicacies like Amritsari Kulcha. Over three days ethnic Punjabi items and artefacts like nale parande, bangles, wooden furniture and inlay items were put on display and sale in a perfect Punjabi Mela setting. Also Read – Leslie doing new comedy special with NetflixCultural events like gatka, bazigar, dhadi, naqal, gidha, been, algoza dhol and bhangra vowed the audience while the evenings were devoted to Punjabi music.’Through this festival, we tried to create the atmosphere of a Punjabi village in a traditional mela-like setting where all the traditional artefacts of Punjab were displayed and sold. Punjab’s vibrant culture, its rich cuisine and soulful music, has always attracted people, and the people who turned up were delighted by the colorful display and songs and music. We hope to keep alive many of these traditions through such festivals,’  said Jawahar Dhawan, Secretary, Punjabi Academy.last_img read more

Netflix Shows Are Entertaining Enough But Its the Digital Marketing Thats Masterful

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first_imgFebruary 20, 2018 Growing a business sometimes requires thinking outside the box. In five years, the share of households with a Netflix subscription has increased 92 percent. Today the majority of households in the United States subscribe to Netflix, and that number is slated to rise this year.Why is this happening? The product is designed so well that you and I have been sucked into shows, only to emerge from our homes days later. The creative team is skilled at creating programs that receive both popular and critical praise.But Netflix doesn’t just produce good shows, it also knows how to use advanced digital marketing techniques to acquire new customers and retain existing ones. Let’s talk about a few of the digital marketing principles that make Netflix so successful. Follow them and you may just see similar results.Related: Netflix by the NumbersPersonalized content is the best kind.What sets Netflix apart from other streaming services? Amazon, HBO and Vudu all have access to thousands of television shows and movies. They offer intuitive user interfaces, and they are available across devices. Yet Netflix is uniquely situated to dominate the streaming video revolution thanks to the company’s obsessive approach to content personalization.My Netflix homepage looks entirely different from yours. This is thanks to the power of proprietary algorithms that predict what kind of content you’ll enjoy, and hide the rest. On Amazon Prime Video, I can’t even find the last thing I viewed there easily. Netflix has them beat here.You might be thinking that content personalization is only available to companies like Netflix that have the capital to employ hundreds of the world’s smartest engineers. But entrepreneurs can also tap into content personalization in a few different ways.Tools like Optimizely and Adobe Experience Cloud let you to personalize content based on a variety of data points like the country associated with an IP address, or whether or not a visitor is already a lead in a CRM. Based on this information, marketers can choose to display different website experiences in order to better serve the interests of a particular visitor.As an alternative to third-party software platforms, marketers can always “fake” personalization with a little elbow grease. By building behavior based email workflows, marketers can ask email recipients to click various links depending on their interest. Once their interest is registered, the rest of the email workflow can be based on the interests articulated by recipients.Takeaway:Remember, personalization isn’t about relying on advanced algorithms. Instead, it’s about identifying and providing the kind of experience the prospect, customer or visitor is most interested in having.Related: 11 Supernatural Ways ‘Stranger Things’ Has Turned Marketing Upside DownMulti-channel campaigns are key to getting your message out.Netflix is available on seemingly every device. From computers to smart televisions, users can access Netflix wherever and whenever they want. Marketers at Netflix take a similar approach to promotion.To hype season two of the company’s hit show Stranger Things, Netflix teamed up with Snapchat to release an augmented reality experience. At the same time, Netflix used Instagram, Twitter, Facebook and email marketing to promote the upcoming season.Takeaway:Multi-channel marketing isn’t about spending big bucks on advertising stunts. It’s about creating marketing campaigns that meet members of the target audience wherever they “live.” In the case of Stranger Things viewers, Netflix knew that their target audience would spend hours on social platforms, so they developed a strategy accordingly.Simple is powerful in a complex world.We live in complicated and noisy times. As a result, the average person has an attention span of just eight seconds, according to the New York Times. Netflix chooses to keep things simple when creating a mission statement or designing a user interface.The company’s investor relations page says, “We are a relief from the complexity and frustration that embody most MVPD relationships with their customers. We strive to be extremely straightforward.”It’s no surprise then that for non-customers, the Netflix homepage is so simple it’s sparse. It takes just two scrolls to reach the bottom of the page, and features two messages: “watch anywhere” and “cancel anytime.”Takeaway:Use simplicity as a differentiating factor, and make it easy for members of the target audience to understand what you do and how you can help them. Ensure that this approach translates to marketing material, product experience and customer service.Related: 18 Tips To Make Your Marketing Efforts Soar in 2018Email marketing is still a key component to customer onboarding.Despite claims to the contrary, email marketing is not dead. In fact, it’s used by Netflix as a key component of customer onboarding and nurturing.New Netflix customers receive a series of emails that make content recommendations and encourage new users to explore the platform. This is a way of driving platform adoption, which improves customer retention in the long run.Long time customers also receive periodic emails from Netflix. To promote the release of a new show called The Punisher, Netflix sent customers a marketing email that appeared to be spam at first glance. But once opened, the email played a GIF that slowly redacted information until a button at the bottom appeared, encouraging subscribers to watch the new show.Takeaway:Email marketing is not dead; unimaginative email marketing is. Netflix marketers invest hours in building creative email marketing campaigns designed to engage and delight recipients. You don’t need sophisticated tech to engage people in your database. You just need to understand the target audience, and apply some imagination to email marketing. Netflix is successful thanks to a focus on understanding target audiences. Once that happens, marketers launch creative cross-platform campaigns that deliver simple and clear value propositions.Remember that success in digital marketing isn’t a result of big budgets and advanced technology. It comes from creative and customer-centric strategies. Opinions expressed by Entrepreneur contributors are their own. Register Now » Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Global 6 min readlast_img read more