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Ann Taylor dad or mum Ascena data files for bankruptcy as pandemic crushes now troubled retailer

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Ascena Retail Team Inc.
ASNA,
-6.47%
,
mum or dad of the Ann Taylor and Loft retail chains, submitted for voluntary Chapter 11 individual bankruptcy on Thursday, with a restructuring arrangement supported by much more than 68% of its secured expression loan providers, crushed by the outcomes of the coronavirus pandemic on its now troubled company. The Mahwah, New Jersey-dependent enterprise stated it expects to lessen personal debt by about $1 billion in its pre-arranged restructuring, furnishing amplified economic versatility to turn into profitable. “The meaningful progress we have produced driving sustainable advancement, improving upon our functioning margins and strengthening our economical basis has been seriously disrupted by the COVID-19 pandemic,” Interim Executive Chair Carrie Teffner mentioned in a statement. “As a final result, we took a strategic action forward currently to secure the long run of the business enterprise for all of our stakeholders.” Ann Taylor, Loft, Lane Bryant and other chains will continue on to function via the restructuring with about 95% of suppliers open up. But the company will minimize its footprint by closing a major number of Justice shops and sure Ann Taylor, LOFT, Lane Bryant and Lou & Grey suppliers. “This includes the exit of all merchants throughout brands in Canada, Puerto Rico and Mexico and the closure of all Catherines outlets,” claimed the assertion. Ascena has $150 million in funding from present loan companies and expects that sum merged with hard cash flow created by ongoing functions and money on hand to be enough to fulfill its requires. Shares, which are trading beneath a dollar, were being up 3.8% premarket, but have fallen 90% in the yr to day, even though the S&P 500
SPX,
+.57%

has gained 1.4%.

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The abolition of fees for teaching Portuguese abroad will not be accepted by parliament, MP says – Observer

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The abolition of fees for teaching Portuguese abroad will not be accepted by parliament, MP says - Observer

According to Socialist MP Paulo Pisco, the views of the BE, PCP and PAN on the abolition of fees for teaching Portuguese abroad were voted on Tuesday in a parliamentary committee.

The Committee on Foreign Affairs and Portuguese Communities voted on Tuesday in favor of four projects – from the Left Bloc, the Communist Party of Portugal, “People-Animal-Nature” and “Enough”, which mainly advocate the abolition of fees for teaching Portuguese abroad and free school textbooks.

According to Paulo Pisco, a socialist member of the commission, the opinions of the BE, PKP and PAN were approved, but Chega’s opinion deserved to be abstained from the PS because it contained “xenophobic elements” in its purpose.

The MP had in mind, in particular, the recipients of this teaching, which is currently intended not only for the Portuguese or the descendants of the Portuguese, but also for those who want to learn the Portuguese language, with which Chega allegedly disagrees, according to Paulo Pisco. .

THE PUB • CONTINUE TO READ BELOW

After the approval of these opinions, the abolition of the bribe would be discussed and voted on in the plenary session of the Assembly of the Republic, but Paulo Pisco said that they should not be approved, since the “commitment” of the government is different.

“The government’s obligation is to reduce the burden of the Portuguese” and this will always be determined “in every approved state budget”.

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Portuguese health minister rejects conflict of interest over marriage to president

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The health minister said there was no conflict of interest in her marriage to the current chairman of the Order of Dietitians, saying that the trusteeship of that body had been delegated to the Secretary of State for Health Promotion.


Portugal Digital with Lusa



“Honestly, I don’t think it exists. I have no doubt that this Lady Secretary of State will fill this leadership role,” Manuel Pizarro said on Monday (age 26) on the sidelines of the Pharmacist’s Day celebrations in Sintra, in the Lisbon area.

Aware of the possible conflict of interest, Manuel Pizarro explained that he took “the most appropriate measure (…)”, which was to entrust the functions of guardianship of the Order of Nutritionists to Margarida Tavares.”

“(…) Since I took office as a minister, I have been aware that, since professional organizations have an administrative oversight role, (…) there is a risk of conflict of interest, and I have taken the measures that seem to me the most appropriate, which from the very decided at the outset that he would delegate this oversight function over the Order of Nutritionists to the Secretary of State for Health Promotion,” he stressed.

When asked about the reasons why Margarida Tavares’ name still does not appear in the Diário da República, the official said that “it was necessary to wait for the inauguration of the secretaries of state” and then “to organize the whole process of delegation of authority.” .

“It’s even a good chance that there is a Secretary of State for Health Promotion. I think custody of the Order of Dietitians has been well handed over to the Secretary of State for Health Promotion,” he repeated, noting that “he definitely won’t go through the Minister’s order.” [da Saúde]”.

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“If the secretary of state is responsible for this, it should not go through the minister,” he stressed.

Manuel Pizarro’s statements came after news that the government official may have a conflict of interest because he is married to the chairman of the Order of Dietitians, Alexandra Bento.

The Order of Dietitians was created in 2011 with the approval of the current Minister of Health, who at the time served as Secretary of State for Health.

In addition, Alexandra Bento was the only President of the Order of Occupational Health to attend the inauguration of Manuel Pizarro on 10 September.

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Portuguese newspaper criticizes CR7: “Less Ronaldo, more Portugal” | international football

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Portuguese newspaper criticizes CR7: "Less Ronaldo, more Portugal" |  international football

The cover of one of the most important sports newspapers in Portugal this Monday drew a critical tone against the greatest player in the history of the country.

+ See League of Nations table

On the eve of the day when the Portuguese national team will play with Spain and draw for reaching the semi-finals of the League of Nations, the daily newspaper “A Bola” printed a photo Cristiano Ronaldo stating that the player had lost influence in the team commanded by Fernando Santos.

“Less Ronaldo, more Portugal,” reads the headline.

The publication reports that the 37-year-old striker could start on the bench and lists some of the positives of his possible absence, such as the buffing of protagonist Bruno Fernandes. See below:

This Tuesday’s cover of A Bola is being printed by Cristiano Ronaldo – Photo: Reproduction

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Cristiano Ronaldo started and assisted in a 4–0 thrashing of the Czech Republic on the last round. He has only scored twice in his last eight caps, both against Switzerland.

Czech Republic 0 x 4 Portugal highlights in UEFA Nations League 2022

For Manchester United in the 2022/23 season, he started in three of the eight games played. In the last of them, against Sheriff from Moldova, in the Europa League, he scored for the first time.

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