Life

Across Latin America, the Holidays Mean It’s Time for Buñuelos

Drive DeVilbiss Recalls Adult Portable Bed Rails After Two Deaths

Drive DeVilbiss Healthcare has recalled about half a million adult portable bed rails due to risk of entrapment and asphyxiation that has resulted in two deaths.

The company has announced voluntary recall of four different models of its bed assist handles and bed assist rail because when attached to an adult’s bed, users can become entrapped within the bed rail or between the rail and the side of the mattress, which poses a serious entrapment hazard and risk of death by asphyxiation.

The company said it received two reports of entrapment deaths associated with two of its Bed Assist Handle bed rails (models 15064 and RTL15073). The deaths occurred in February 2011 and February 2015, and involved a 93-year-old woman at her home in California, and a 92-year-old man at an assisted living facility in Canada.

Drive DeVilbiss Healthcare said it sold about 496,100 of the bed rails at medical supply stores nationwide and online at amazon.com and walmart.com. The bed rails were sold from October 2007 through December 2021 for between $30 and $80. The company also sold about 68,000 units in Canada and about 119 units in Mexico.

The company has asked consumers to immediately stop using the recalled bed rails and contact Drive DeVilbiss Healthcare to receive a full refund.

Opinion | The Bogus Bashing of Build Back Better

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FirstCash Amends Agreement With American First Finance – Quick Facts

FirstCash, Inc. (FCFS) has amended its agreement to acquire American First Finance Inc. The amendment provides for additional contingent consideration of up to $75 million, to be based on the company’s stock performance through February 28, 2023. The amendment also provides for a fixed $25 million working capital payment payable December 31, 2022.

The transaction is now valued at approximately $916 million, compared to the estimated valuation at the time of announcement of $1.17 billion. The total consideration payable to the seller at closing remains unchanged.

Rick Wessel, FirstCash CEO, said: “In light of the recent volatility in our stock price, we believe that amending the transaction and proceeding with it is in the best interests of our shareholders, customers and employees.”

SEBI’s algo-trading plan can hit growth: brokers

‘Proposed norms difficult to execute’

Markets regulator SEBI’s proposal of treating all orders emanating from application programming interface (API) as algorithmic — or algo — orders can restrict growth of such trading in India, brokerage houses said.

In market parlance, algo trading refers to any order that is generated using automated execution logic.

Vikas Singhania, CEO, TradeSmart, said that regulating the nascent algo market is the need of the hour, especially since the media has reported a number of cases of retail clients losing money based on false promises made by vendors. “However, in its attempt to weed a few bad cases, SEBI is putting in hurdles that can restrict the growth of algo trading in India. It will be difficult for brokers to provide APIs if the conditions mentioned in the consultation paper are implemented.” However, Rahul Shah, co-head, research, Equitymaster, said the proposal would go some way in ensuring nobody is able to game the system.

Nuvei Shares Tumble 50% On Federal Law Violation Allegations

Shares of electronics payment company Nuvei Corp. (NVEI) are down 55 percent on Wednesday’s trading after shareholder rights law firm Johnson Fistel, LLP initiated investigating potential violations of the federal securities laws against Nuvei. The law firm was specifically looking into whether Company issued false or misleading statements or failed to disclose information pertinent to investors.

On Wednesday, Spruce Point Capital Management, LLC published a short-seller report on the company, in which several claims were made about Nuvei’s downward growth and shady backgrounds of its executives and others associated with the company.

Currently at $50.54, the stock has traded between $43.11 and $140.23 during the past 52 weeks.

Capita Issues Pre-close Update; 11-month Group Revenue Up 0.6%

Capita (CPI.L) reported that its Group revenue for the 11 months to 30 November 2021 increased by 0.6% to 2.88 billion pounds. Capita Public Service rose 11% to 1.29 billion pounds, driven in particular by Royal Navy training. Capita Experience revenue was down 8% to 1.08 billion pounds. The Group anticipates post-IFRS 16 net debt at 31 December 2021 to be broadly in line with 894 million pounds reported at the half year, as previously guided.

Jon Lewis, CEO, said: “We have continued in recent months to make progress with our corporate transformation, particularly in our Public Service division. However, Covid has continued to impact some businesses within our Portfolio division. This, combined with the anticipated revenue attrition in our Experience division has slowed the overall rate of top line growth this year.”

The Group noted that it will continue with plans to dispose of non-core businesses in the Portfolio division to further reduce debt and will launch another two disposal processes early in the new year.

Across Latin America, the Holidays Mean It’s Time for Buñuelos

The sweet, fried dough is a common street food year-round, but the dessert is especially popular during the Christmas season.

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By Christina Morales