Sale of U.S. utility PPL’s British unit faces delay as Brexit looms: sources

LONDON/FRANKFURT (Reuters) – The sale of British power utility Western Power Distribution (WPD) faces delays to at least the first quarter of 2021, partly due to uncertainty over whether Britain will leave the European Union without a trade deal, sources close to the matter said.

Current owner U.S. utility PPL Corp in August launched the sale of WPD, which has a regulatory asset value of 7.7 billion pounds ($10.1 billion) with the help of U.S. investment bank JP Morgan , to focus on its U.S. operations.

Based on its earnings before interest, taxes, depreciation and amortization (EBITDA) at 1.25 billion pounds ($1.67 billion) for the financial year ended in March, WPD could fetch a valuation of up to 12 billion pounds.

Despite PPL’s gauging the interest of European utilities and investment funds, the power group has attracted just a small number of potential bidders, the sources said.

The next regulatory

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Marley Station Mall Faces Uncertain Future

GLEN BURNIE, MD — The coronavirus pandemic has hampered many businesses, among them Marley Station Mall, the 364,000-square-foot mall at Routes 2 and 100 in Glen Burnie. The mall lapsed into foreclosure this year and the owner, Marley Station Mall LLC, a subsidiary of G.L. Harris, filed for bankruptcy. But the mall was purchased by a local investor at auction for $1.65 million this fall shortly thereafter.

Now, the local investor has discovered that the bankruptcy filing in Texas has put a stop to the foreclosure auction sale. The Marley Station property holds two loans: one for $15.6 million and the other for $1.6 million. It is the second loan that was foreclosed on. If the sale is upheld, the investor must pay the remaining $15.6 million, Paul Cooper of Alex Cooper Auctioneers, which handled the auction, told Biz Journals.

G.L. Harris, the Dallas-based investor, bought the mall in 2017

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Bigbasket faces potential data breach; details of 2 crore users up for sale on dark web

Grocery e-commerce platform Bigbasket has faced a potential data breach that could have leaked details of around two crore users, according to cyber intelligence firm Cyble.

The company has filed a police complaint in this regard with Cyber Crime Cell in Bengaluru and is verifying claims made by cyber experts.

Cyble said a hacker has put data allegedly belonging to Bigbasket on sale for around Rs 30 lakh.

“In the course of our routine dark web monitoring, the research team at Cyble found the database of Big Basket for sale in a cyber crime market, being sold for over $40,000. The leak contains a database portion; with the table name ‘member member’. The size of the SQL file is about 15 GB, containing close to 20 million user data,” Cyble said in its blog.

It added the data put on sale includes names, email IDs, password hashes, contact

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Public option faces long shot even with a Biden win and Democratic sweep

  • Democrats made the 2020 election all about healthcare, and are prepared to expand the Affordable Care Act. 
  • The Senate races aren’t over yet, but Republicans’ apparent hold on the upper chamber would create an insurmountable hurdle to Democrats’ most ambitious healthcare goals.
  • There’s still trouble ahead even if Democrats win control of the Senate. Members don’t agree about how to create a government plan that would compete with private insurance — a key promise by President-elect Joe Biden.
  • Progressives are pushing for Democrats to leverage Medicare to get health insurance to everyone in the US, but centrists want a privatized public option more like Medicare Advantage. 
  • “We are going to have to work really hard to fight back on that,” Rep. Pramila Jayapal of Washington said.
  • Visit Business Insider’s homepage for more stories.

President-elect Joe Biden’s campaign pledge to create a new type of government health insurance is poised to

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U.S. faces a potential ‘secession crisis’ at home and ‘open conflict’ with China in the coming decade, says author who predicted 2020 unrest

Neil Howe foresaw that 2020 would be time of crisis for the U.S. — back in the 1990s.

As scholars of demography and generational trends, Howe and his colleague, the late William Strauss, observed that every generation of Americans fits a particular archetype that influences the personality and practices of subsequent generations.

Think of the G.I. Generation — “The Greatest Generation” — who rose as one to victory in World War II and engineered America’s postwar economic boom; the Silent Generation, who never quite escaped from the G.I.’s long shadow; the postwar wave of baby boomers and Generation X, who trumpet the “Me Generation” of individualism and self-determination; and collectivist-minded millennials, born between 1982 and 2004, who came of age during two major economic recessions and ongoing financial insecurity, and who with each passing year hold the keys to the nation’s future.

Howe and Strauss concluded that every 70 to

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A succession crisis or a ‘blue wave?’ Wall Street faces the unknown

Ahead of Election Day, Wall Street pulled back from the brink, with all three major indices higher on Monday — although the market’s so-called “fear gauge” also rose as both presidential candidates spent the last day of a bitter campaign making their final pitch to voters in battleground states.

Even in a year rocked by social unrest, economic crisis and a global pandemic that has left more than 200,000 Americans dead, market analysts said 2020 might still have the potential to shock.

The potential for President Donald Trump to claim victory over former Vice President Joe Biden even in the absence of a clear Electoral College win is investors’ biggest — albeit less-likely — worry.

“An outright succession crisis is the worst-case scenario,” said Ryan Giannotto, director of research at GraniteShares. The United States has never faced that kind of a crisis, and the entire country, Wall Street included, would

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Columbus man faces indictment for fraud related to multiple properties

John Futty
 
| The Columbus Dispatch

A Columbus man whose company was identified in a Dispatch investigation as obtaining and cashing a $38,000 check that belonged to a foreclosed homeowner was indicted Tuesday for that case and other alleged schemes that cost victims more than $400,000.

Carl Levell Renier, 48, faces a 36-count indictment that includes a charge of engaging in a pattern of corrupt activity and multiple felony counts of identity fraud, forgery, money laundering, tampering with records, theft and crimes against the elderly, the Franklin County prosecutor’s office announced.

Foreclosed & Fleeced, an award-winning Dispatch investigative series, reported in August 2019 about how some foreclosed homeowners are cheated out of surplus funds that remain after the sheriff sales of their properties. The series prompted an investigation of Renier by the Franklin County sheriff’s office.

The sheriff’s investigation determined that, in addition to the crimes committed against the foreclosed

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