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Netflix To Buy Scanline VFX Famed For Cowboy Bebop Effects

Aareal Bank Announces Investment Agreement For Its Public Takeover Offer – Quick Facts

Aareal Bank has signed an investment agreement with an entity to be named Atlantic BidCo GmbH, setting out the conditions of a takeover offer to the shareholders of Aareal Bank AG for the acquisition of all outstanding shares against a cash consideration of 29.00 euros per share. The Management Board and Supervisory Board of Aareal Bank AG supported the takeover offer. Also, the Management Board has decided to withdraw agenda item no. 1 for the EGM, which was intended to resolve on the further distribution of profits for fiscal 2020 of 1.10 euros per share.

Atlantic BidCo GmbH is held indirectly by Advent International Corporation and Centerbridge Partners, L.P., and co-investors.

Vodafone Idea raises tariff by upto 25%

This announcement comes a day after a similar hike by Bharti Airtel.

Vodafone Idea Ltd (VIL), on Tuesday, November 23, 2021, has announced the introduction of its new tariff plans for prepaid users in India by raising tariff by upto 25%.

The new plans will be available starting Thursday, November 25, 2021, the company said. This announcement comes a day after Bharti Airtel raises its tariff by upto 25%.

 

“The new plans will start the process of ARPU improvement and help address the financial stress faced by the industry,” VIL said.

“These tariff plans will allow VIL to continue improving India’s Fastest Mobile Network, verified by Ookla®, the global leader in fixed broadband and mobile network testing applications. Vi remains committed to play its role in accelerating the realization of the Digital India vision of the government,” it added.

The basic voice tariff has increased from ₹79 to ₹ 99 for 28 days plan. Similarly the voice-cum-data tariff for 365 days plan has been increased from ₹2,358 to ₹2,899.

The tariff for the basic data top up plan has increased from ₹48 to ₹58 for 28 days plan. And for the 56 days data plan, the tariff has increased from ₹351 to ₹418.

Severn Trent H1 Profit Before Interest And Tax Rises; Turnover Up 8.0% – Quick Facts

Severn Trent PLC (SVT.L) reported first half Group profit before interest and tax of 256 million pounds, up 13.8% from last year. Group turnover was up 8.0%, as a result of a strong recovery in non-household consumption following the lifting of lockdown restrictions, the Group said.

For the six months to 30 September 2021, pretax profit increased to 146.9 million pounds from 126.5 million pounds, prior year. Loss per share was 73.0 pence compared to profit of 42.5 pence. The loss reflects an exceptional deferred tax charge from the change in corporation tax rate. Adjusted earnings per share increased to 54.1 pence from 51.1 pence. Group turnover was 958 million pounds, up 8.0%.

The Board has declared an interim ordinary dividend of 40.86 pence per share, which will be paid on 7 January 2022 to shareholders on the register at 3 December 2021.

China Keeps Loan Prime Rate Unchanged As Expected

China maintained its benchmark loan prime rates for the 19th consecutive month, as widely expected, on Monday.

The one-year loan prime rate was kept unchanged at 3.85 percent and the five-year LPR at 4.65 percent.

The one-year and five-year loan prime rates were last lowered in April 2020. The one-year loan prime rate was cut by 20 basis points and five-year rate by 10 basis points in April 2020.

The loan prime rate is fixed monthly based on the submission of 18 banks, though Beijing has influence over the rate-setting. This lending rate replaced the central bank’s traditional benchmark lending rate in August 2019.

Markets expected LPR rates to remain on hold as the People’s Bank of China had kept the rate on its medium-term lending facility unchanged early this month.

As economic strains continue to grow, there will be more pressure to relieve the financing strains of indebted borrowers, Julian Evans-Pritchard, an economist at Capital Economics, said.

And a cut to the five-year LPR, upon which mortgages are priced, would also help official efforts support housing demand, the economist noted. The PBOC is expected to start lowering policy rates (including the LPR) before the end of this year, followed by more reductions in 2022.

Netflix To Buy Scanline VFX Famed For Cowboy Bebop Effects

California-based entertainment services major Netflix, Inc. (NFLX) on Monday announced plans to acquire privately held global visual effects company Scanline VFX. The transaction is expected to close in first quarter of fiscal 2022. Financial details of the deal have not been disclosed.

Scanline VFX is credited with stunning visual effects ranging from the interstellar landscape of Cowboy Bebop and the ravenous vampires of Blood Red Sky to the exploding underground reactor in Stranger Things 3. It is also associated with Netflix for upcoming titles like Don’t Look Up, The Gray Man, Slumberland, The Adam Project and Stranger Things 4. Scanline has also done ground-breaking work on Game of Thrones, Godzilla vs Kong and Zack Snyder’s Justice League.

Scanline was founded in 1989 and is now led by Stephan Trojansky, a trailblazing VFX Supervisor whose proprietary fluid rendering system Flowline won an Academy Award for Technical Achievement in 2008. The company has offices in Vancouver, Montreal, Los Angeles, London, Munich, Stuttgart, and Seoul.

Netflix would be investing in Scanline’s pipeline, infrastructure and workforce and continue to support Scanline’s Eyeline Studios’ pioneering work. Going forward, the company would continue to operate as a standalone business and work with their variety of clients. Netflix too would continue to rely on other studios for its VFX needs.