Greggs grows sales

first_imgGreggs is shrugging off the effects of the credit crunch with a total sales increase of 6.7% in the 16 weeks to 4 October. The bakery retailer said sales growth slowed over weeks seven to 13, but have picked up again more recently. Poor weather, and more favourable 2007 conditions, were blamed for the slower growth. In a interim management statement, the company said: “In spite of the increasing pressure on household budgets we have seen only modest erosion of customer numbers and transaction values.”Greggs is reducing its operation profit prediction for the financial year by £3 million, due to the slower sales growth and temporary margin impact from higher costs. Prices of many major ingredients including vegetable oils and vehicle fuel are beginning to stablise, so operating margins should improve in the final 12 weeks of the year, it said.Greggs has 1,399 shops, and has opened 53 new shops and closed 22 this year.last_img read more

AITEO CUP: Enyimba, Rivers United, MFM Fall At First Hurdle

first_imgNigeria Professional Football League (NPFL) outfits Enyimba, Rivers United and MFM FC were on Wednesday knocked out of the 2017 AITEO Cup.Enyimba-four time winners of the competition- lost 2-1 to ABS FC in Ilorin, just three days after trouncing the same team 3-0 at home in the NPFL.In Lafia, Nasarawa United thrashed a largely inexperienced MFM side 3-0 to advance to the round of 32.The biggest shock of the round came in Port Harcourt where third-tier league side, J. Atete dumped out 4-time champions, Rivers United.The Nationwide League One side won 7-6 on penalties after regulation time ended goalless.NPFL leaders, Plateau United and Sunshine Stars are also through to the next round after respective wins over Wikki Tourists and Mighty Jets away from home.But the match involving Rangers and Kogi United in Lokoja was abandoned after fans invaded the pitch following a decision that went the way of the Flying Antelopes.AITEO CUP ROUND OF 64 RESULTS:Ngwa FC 6 FC Galadima 2Heartland 0 Insurance 0 (5-4 penalties)Katsina United Feeders 1 Aklosendi FC 0AITEL FC 0 Unicem Rovers 0 (3-5)Mighty Jets 1 Sunshine Stars 2Bayelsa United W/O FC ZamfaraEde United 2 Sakaba United 0FC IfeanyiUbah Feeders 2 Jigawa Golden Stars 1Ekiti United 3 Dolphins FC 2Rivers United 0 FC Atete 0 (6-7 penalties)Delta Warriors 2 Ayade Babes 0FC Yarmalight 1 FC IfeanyiUbah 3Shooting Stars 3 Dynamite FC 1Kogi United Vs Rangers International (Abandoned)Nasarawa United 3 MFM FC 0Doma United 1 Adamawa United 1 (4-3 penalties)Osun United 2 Coal City Youths 0FC Lokoja 0 El-Kanemi Babes 2Kwara United 4 Sokoto United 0Wikki Tourists 1 Plateau United 2ABS FC 2 Enyimba FC 1Samba Kurna 2 Wikki Tourists Feeders 0Abia Warriors 1 Crown FC 0FRSC FC 1 Potiskum Academy 0Almar FC 0 Spartan FC 0 (5-3 penalties)Moyero FC 0 Akwa Starlets 2 OUTSTANDING ROUND OF 64 MATCHES:Lobi Stars Vs Katsina United (Wednesday, 23rd August)Adamawa United Feeders Vs Cynosure FC (Wednesday, 23rd August)Niger Tornadoes Vs El-Kanemi Warriors (Thursday, 17th August)Halfa FC Vs Akwa United (Thursday, 17th August)Niger Tornadoes Feeders Vs FC Abuja (Thursday, 17th August)Yobe Desert Stars Vs Kano Pillars (Thursday, 24th August) The round of 32 draws will take hold on Friday, 18th August 2017.Winners of the competition will pocket N25m and also represent Nigeria in the CAF Confederation Cup next year.Relatedlast_img read more

Conan sitting tight for now

first_img“I got the call this morning from Barbara Walters,” he said, adding he planned to pick up where O’Donnell leaves off and begin picking on Donald Trump. – Associated Press Clinton urges graduates to act Former President Bill Clinton challenged University of Michigan graduates to do their part in a world marred by inequality and insecurity. Speaking to 6,500 graduates at the school’s spring commencement, Clinton punctuated his 23-minute speech with bits of humor while stressing community and responsibility. “Think about how you are going to define your citizenship of your nation, community and the world, and how you will reconcile that with your different identities,” Clinton said. An estimated 59,000 people filled more than half the seats in Michigan Stadium. While Clinton mostly avoided politics in his address, several students wore graduation caps with “end the war” written or taped on top. – Associated Press 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! He’s still two years away from replacing Jay Leno on “The Tonight Show,” but already Conan O’Brien seems to be sizing things up. “Have you planned any changes while … you were looking?” Leno asked O’Brien when the latter dropped by the late-night talk show on Friday. O’Brien reassured Leno, the show’s host since 1992, that he won’t be moving onto its Burbank set any time soon. “It’s years away,” O’Brien quipped, adding that rather than succeed Leno in 2009 as planned, he’s decided to take the job Rosie O’Donnell is leaving on daytime television’s “The View.” last_img read more

Online booking sites under threat

first_imgSource = e-Travel Blackboard: P.T When it comes to booking international holidays, Australians are stepping away from the online environment and reverting back to traditional travel agencies, says Wotif head.“People have tended to go back to bricks-and-mortar agencies (when travelling overseas) and that’s been very much our view as to how the market will play out,” Wotif chief executive Robbie Cooke told AAP.According to Mr Cooke, while travellers are happy to book domestic travel online, they had “some hesitation” doing so for international travel.Pointing to an increase in package holiday bookings and the strength of the Australian dollar, Mr Cooke expects a flat first half profit for the online travel company.Wotif recently announced plans to lift its commission by one percentage point from January, with a second increase expected to follow next year, enabling the company to continue investing in sales and product initiatives.The online travel company recently expanded into the realm of holiday home rentals and added domestic and international flight booking capabilities to its portfolio.last_img read more

A Year Of FCPA Flash Podcast Episodes

first_img Strategies For Minimizing Risk Under The FCPA A compliance guide with issue-spotting scenarios, skills exercises and model answers. “This book is a prime example of why corporate compliance professionals and practitioners alike continue to listen to Professor Koehler.” Becky RohrIn this episode, Becky Rohr (former Principal Deputy Chief in the DOJ’s Fraud Section and current Vice President at Hewlett Packard Enterprise where she leads a team handling anti-corruption compliance in the Ethics & Compliance Office) discusses: (i) the dynamics of post-enforcement action compliance and reporting obligations; (ii) the DOJ’s suggestion in the FCPA Corporate Enforcement Policy regarding appropriate retention of business records; and (iii) her different vantage points surrounding the FCPA given her prior DOJ experience and current corporate experience.Bruce SearbyIn this episode, Bruce Searby (Searby LLP and previous an enforcement attorney in the DOJ’s FCPA Unit) expands upon points made in a recent article titled “FCPA Liability for Hiring Practices Gain New Credence” including how this enforcement theory is “expansive,” how “no FCPA hiring case has been tested in court,” how in certain of the enforcement actions there are hints that the “government may struggle to establish all the elements required for an anti-bribery violation of the FCPA,” and how “building cases against individuals may be particularly challenging.”Harold KimIn this episode, Harold Kim (Executive Vice President, U.S. Chamber Institute for Legal Reform) discusses recent DOJ FCPA enforcement policy developments, the continued viability of an FCPA compliance defenses, as well as the general lack of FCPA policy developments from the SEC.Alice FisherIn this episode, Alice Fisher (Latham & Watkins and former Assistant Attorney General in charge of the DOJ’s Criminal Division) discusses: the DOJ’s recent non-binding policy discouraging “piling on”;  the DOJ’s FCPA Opinion Procedure program in light of her 2006 comments as Assistant AG that the program should “be something that is useful as a guide to business”; whether the DOJ’s long-standing efforts to encourage voluntary disclosure have failed; whether FCPA enforcement (in terms of resolution vehicles, enforcement theories, DOJ/SEC policy, etc.) has evolved for the better or the worse since her time at the DOJ; and what about the FCPA (the actual statute) or FCPA enforcement (DOJ/SEC enforcement policy, resolution vehicles, etc.) should change and why.Bradley BondiIn this episode, Bradley Bondi (Cahill Gordon & Reindel LLP) discusses his recent testimony during a House hearing titled “Ensuring Effectiveness, Fairness, and Transparency in Securities Law Enforcement” that touched upon several FCPA relevant issues and elaborates on certain of these issues including: disgorgement and statute of limitation issues. In addition, based on his comment during the hearing that “few would consider a local police force successful in deterring crime if it announced record numbers of arrests year after year,” Bondi opines whether the FCPA is being successful in accomplishing its objectives.Philip RohlikIn this episode, Philip Rohlik (Debevoise & Plimpton) discusses the Dunn & Bradstreet enforcement action and questions just what criminal charges the DOJ actually declined and other issues relevant to the so-called declination; discusses the concerning internal controls standard the SEC invoked in the enforcement action; and takes issue with certain commentary regarding the enforcement action.Machua MillettIn this episode, Machua Millett (Chief Innovation Officer, FINPRO US Marsh) discusses FCPA insurance. In 2012, FCPA Professor published this Q&A with Millett regarding the topic and in the podcast Millett provides an update on the relevant issues.James KoukiosIn this episode, James Koukios (Morrison & Foerster and former Senior Deputy Chief of the DOJ’s Fraud Section) discusses: (i) how FCPA enforcement has made “significant and positive contributions to the development of compliance programs and standards; (ii) how regulators and prosecutors may take “unfair and impractical [FCPA] positions;” and (iii) how “FCPA enforcement should not be so puritanical as to stifle legitimate business opportunities or cause companies to overspend on ineffective compliance measures.”Jason PrinceIn this episode, Jason Prince (Holland & Hart who offices in Boise and Washington, D.C.) discusses: (i) FCPA issues for companies in the Rocky Mountain West; (ii) the similarities and differences between FCPA compliance and compliance with other export or international trade regulations; and (iii) how former Idaho Senator Frank Church (who was instrumental in crafting the FCPA) might think about the modern era of FCPA enforcement.Adriaen MorseThis episode is a conversation with Adriaen Morse. Morse is among a small number of individuals who has experienced the FCPA from three different vantage points (counsel in the SEC’s enforcement division, a partner at international law firms and currently running his own firm, and leading the litigation and compliance departments of two Fortune 200 public companies as chief litigation counsel and chief ethics and compliance officer). During the podcast, Morse responds to the following questions: (i) what specific vantage point of a SEC FCPA enforcement attorney do in-house FCPA counsel and outside FCPA counsel fail to understand or appreciate; (ii) what specific vantage point of an in-house FCPA counsel do SEC FCPA enforcement attorneys and outside FCPA counsel fail to understand or appreciate; (iii) what specific vantage point of an outside FCPA counsel do SEC FCPA enforcement attorneys and in-house FCPA counsel fail to understand or appreciate; (iv) which job category of the three is the most difficult and why: (v) which job category of the three can best advance the objectives of the FCPA?Camilla de SilvaIn this episode, Camilla de Silva (Joint Head of Bribery and Corruption at the U.K. Serious Fraud Office) discusess: whether the Bribery Act (including both “hard” and “soft” enforcement) has been successful in achieving its objectives; the SFO’s position on ISO 37001 (it doesn’t have a position); whether the Rolls-Royce enforcement action (see here for a prior post) conflicted with Article 5 of the OECD Convention; and the U.K.’s approach to multi-jurisdictional issues.Gregory Paw and Sandra OrihuelaIn this episode, Gregory Paw (Pepper Hamilton) and Sandra Orihuela (Orihuela Abogados – Lima, Peru and Miami) discuss the FCPA enforcement action against Brazilian companies Odebrecht/Braskem and the broader ramifications of the enforcement action in South America and Latin America including compliance trends in these regions in the aftermath of the enforcement action.Hannibal KemererThis episode is a conversation with Hannibal Kemerer (Squire Patton Boggs and former chief counsel of the Senate Judiciary Committee’s Crime and Drugs Subcommittee who was the lead lawyer for Senator Arlen Specter and has unique insight into why Senator Specter held an FCPA oversight hearing in November 2010). Kemerer discusses why Senator Specter held the hearing, what Senator Specter hoped to accomplish in the hearing, and whether the goals of the hearing were actually accomplished. Now in private practice, Kemerer also discusses the difference between approaching FCPA issues from a a private practitioner standpoint compared to a public policy standpoint.Michael GoldbergThis episode is a conversation with Michael Goldberg (Baker Botts). Goldberg represented Cobalt International Energy in connection with several instances of FCPA scrutiny and as highlighted in this post his client refused to settle. Goldberg discusses his client’s FCPA scrutiny, the reasons for his client’s refusal to settle, the negative effects Cobalt experienced despite prevailing, and how the world of investigations is broken and who shares the blame.Michael LevyIn this episode, Michael Levy (Paul Hastings) discusses his dandy article titled “The SEC’s Unlawful and Dangerous Expansion of the Exchange Act” in which he asserts that in certain recent enforcement actions the SEC has expanded the FCPA’s books and records and internal controls provisions in an “unlawful” manner and in a way that gives the SEC “capacious authority to regulate by enforcement almost any aspect of the operations of any issuer.” During the podcast, Levy elaborates on these issues and provides suggestions for how SEC enforcement can get back on track given that no issuer has ever put the SEC to its burden of proof in the FCPA’s 40-year history.Bruce YannettIn this episode, Bruce Yannett (Debevoise & Plimpton) identifies and elaborates on his list of the most notable issues from 2017: (i) the DOJ’s “FCPA Corporate Enforcement Policy” and implications for self-reporting;  (ii) international enforcement and the continuing rise of coordinated settlements; and (iii) the fallout from Kokesh v. SEC and how to balance SEC, DOJ and international enforcement and statutes of limitation. Order Your Copy Learn More & Registercenter_img FCPA Institute – Boston (Oct. 3-4) A unique two-day learning experience ideal for a diverse group of professionals seeking to elevate their FCPA knowledge and practical skills through active learning. Learn more, spend less. CLE credit is available. The FCPA Flash podcast was launched in February 2016 and quickly become a leading podcast devoted to Foreign Corrupt Practices Act issues. Sponsored by Kreller Group, FCPA Flash provides in an audio format the same fresh, candid, and informed commentary about the FCPA and related topics as readers have come to expect from written posts on FCPA Professor.What makes FCPA Flash worth your listen is the roster of highly experienced guests who offer candid expert commentary on the top FCPA and related issues of the day. 2018 guests included practitioners from around the world, government officials, former federal court judges, in-house counsel, and others with unique perspectives on FCPA and related issues.Set forth below is a summary of the 23 episodes produced in 2018 and how these episodes can elevate your FCPA knowledge, sophistication, and practical skills.Kevin AbikoffIn this episode, Kevin Abikoff (Co-chair of Hughes Hubbard & Reed’s Anti-Corruption and Internal Investigations Practice Group) discusses: FCPA compliance challenges; his top two legal or policy developments in 2018 in the FCPA space; and whether the FCPA has truly been successful in achieving its objectives.Joseph MorenoIn this episode, Joseph Moreno  (a former federal prosecutor and currently a partner in Cadwalader’s White Collar Defense and Investigations Group) discusses his recent article “When Realities Test the Limits of Your FCPA Program,” how excessive risk aversion regarding corporate hospitality can have negative consequences; what Congressional leaders in the mid-1970’s who led the FCPA movement might think about certain current enforcement theories; and what might happen if certain enforcement theories were actually subjected to judicial scrutiny.Thomas GormanIn this episode, Thomas Gorman (Dorsey & Whitney, former Senior Counsel in the SEC’s Division of Enforcement, and founder and editor of the informative SEC Actions blog) SEC Actions blog) discusses the SEC’s recent report of investigation relevant to the FCPA’s internal controls provisions, whether certain emerging FCPA issues should have been addressed through a report of investigation as opposed to an enforcement action, and common SEC internal controls enforcement theories including the “prevent and detect” standard not even found in the FCPA.Jonathan RuschIn this episode, Jonathan Rusch (former official in the DOJ fraud section, former in-house FCPA counsel at Wells Fargo, and current a principal at DTG Risk & Compliance) discusses his 2016 published open memo to the DOJ for how it can do its job better and discusses recent events such as the DOJ abandoning its prior formal compliance counsel position, the DOJ’s new monitor policy and the DOJ’s “anti-piling” on policy.Daniel SuleimanIn this episode, Daniel Suleiman (Covington & Burling who previously served as a senior official in the DOJ’s Criminal Division including as Deputy Chief of Staff & Counselor to the Assistant Attorney General) discusses the life cycle of FCPA internal investigations including: issues warranting an internal investigation; who should conduct the investigation; how to conduct the investigation; what to do with investigative findings; and how to properly scope investigations.Judge Shira ScheindlinThis episode is a conversation with Judge Shira Scheindlin. Judge Scheindlin served as a federal trial court judge in the Southern District of New York for 20+ years until May 2016.  Most federal court judges go their entire career without an FCPA case being placed on their docket. However, Judge Scheindlin is an exception and during her time on the bench she refereed more disputed FCPA issues than any other federal court judge in FCPA history. During the podcast, Judge Scheindlin describes how she was generally on a judicial island when interpreting the FCPA and the difficulty of interpreting the “ambiguous” FCPA.Keith Rosen and Pamela ReddyIn this episode, Keith Rosen and Pamela Reddy (both attorneys with Norton Rose Fulbright, Rosen in Washington, D.C. and Reddy in London) discuss a recently authored article titled “Self-Reporting Bribery: The Ongoing Dilemma.” During the podcast, they highlight voluntary disclosure dynamics on both sides of the Atlantic and whether the enforcement agencies are actually “shooting themselves in the foot when it comes to encouraging voluntary disclosure.last_img read more