#BoardOfDirectors Western Digital (WDC) Board of Directors Announces Share Repurchase Plan http://bit.ly/2nmQyf9
— Muzaffaruddin Alvi (@Muzaffar1969) December 2, 2017
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Twenty Practical Steps to Better Corporate Governance | The Corporate Secretaries International Association (CSIA) Please click the li...
#BoardOfDirectors Western Digital (WDC) Board of Directors Announces Share Repurchase Plan http://bit.ly/2nmQyf9
— Muzaffaruddin Alvi (@Muzaffar1969) December 2, 2017
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#BoardOfDirectors FIT Biotech Oy's Board of Directors has decided on the directed share issue without payment to the Company itself http://bit.ly/2zTQSYK
— Muzaffaruddin Alvi (@Muzaffar1969) December 1, 2017
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Over 200,000 computers across the globe were infected by WannaCry ransomware, but now Raj Samani, chief scientist at McAfee, believes he and his team have found a way to recover data from files encrypted by the ransomware.
In an article for SC Magazine UK, Samani, Christian Beek and Charles McFarland detail an experimental recovery method known as ‘file carving’. The advice is “provided as is”, warn the researchers, who “accept no responsibility if things don’t go as expected”.
But if your files are encrypted and you don’t have a backup, you don’t have much to lose by giving it a go.
File carving is the process of extracting a collection of data from a larger data set. It “deals with the raw data on the media and doesn’t use the file system structure during its process,” the researchers explain. The reason it can be helpful is down to the way that WannaCry encrypts files.
The group ran an isolated test of WannaCry to monitor how it does this, and they noticed that on certain operating systems the original file was still present next to the encrypted file, before later being removed. They then ran a recovery tool, PhotoRec, and soon “discovered [they] were able to recover [the] ‘original’ files from the disk’s free-space”.
PhotoRec can recover a vast number of file formats, and when you run it, you can select which file types to hunt for.
“In our testing we have had some cases where the recovery did an almost full recovery and others in which it was near zero,” the researchers wrote. However, “the number of variables are too exhaustive to list”.
IT Governance has been discussing ransomware and covering news stories of attacks for some time now, but outbreaks are becoming more frequent and more severe – reaching new heights with WannaCry. In response, we’ve created a dedicated ransomware information page on our website.
Containing advice and a series of resources, the page explains what ransomware is, how it works, what happens when your system is infected and what you can do to defend your organisation. It also gives you information on and links to IT Governance services that can help you protect your organisation from attacks.
Take a look at our ransomware information page >>
May 23, 2017 at 12:02PM
from Luke Irwin
AIDINDIA retweeted:
The latest Corporate Governance Daily! ift.tt/2n9qWkS Thanks to @kstevenblake @Shaharudinali #corpgov #csr… https://t.co/peHAkxN2SJ
May 21, 2017 at 12:02PM
https://twitter.com/AIDIndia3/status/866182004873842689
from AIDINDIA
The latest Corporate Governance Daily! https://t.co/OddsFzzCY6 Thanks to @kstevenblake @Shaharudinali #corpgov #csr… https://t.co/peHAkxN2SJ
— Muzaffaruddin Alvi (@Muzaffar69) May 21, 2017
AIDINDIA retweeted:
AIDINDIA retweeted: The latest CorpGov Today! ift.tt/1nAff2a #corpgov #leadership ift.tt/2qGXvYe… https://t.co/XbdjbObKPx
May 21, 2017 at 12:02PM
https://twitter.com/AIDIndia3/status/866181977594056704
from AIDINDIA
AIDINDIA retweeted: The latest CorpGov Today! https://t.co/PJC04TfEOG #corpgov #leadership https://t.co/NIG6h4eHA1… https://t.co/XbdjbObKPx
— Muzaffaruddin Alvi (@Muzaffar69) May 21, 2017
AIDINDIA retweeted:
Shaharudinali retweeted: “Uber is now in the trucking business” usat.ly/2rvWxvm #corpgov…… http://ift.tt/2rF5PoO
May 21, 2017 at 12:02PM
https://twitter.com/AIDIndia3/status/866181938163404800
from AIDINDIA
Shaharudinali retweeted: “Uber is now in the trucking business” https://t.co/b1JMoCVTRM #corpgov…… https://t.co/zlz0VJzjfQ
— Muzaffaruddin Alvi (@Muzaffar69) May 21, 2017
On the weekend I discussed how earnings for the S&P 500 have grown by roughly 6.0% over the last three decades but the growth rate should rise as stock buybacks have averaged just over 3.0% a year since 2011. In an ideal world the growth rate would lift to close to 9.0% p.a. if buybacks continue at the present rate. Add a 2.0% dividend yield and we have an expected annual return close to 11.0%.
I conducted a similar exercise for the ASX using data supplied by marketindex.com.au.
The first noticeable difference is that earnings for the ASX All Ordinaries Index grew at a slower pace. Earnings since 1980 grew at an average compound annual growth rate of 4.4%, while dividends grew at a much higher rate of 6.3%.
How is that possible?
Well the dividend payout ratio increased from the low forties to the high seventies. An average of just over 60%.
With a current payout ratio of 77% (Feb 2017), there is little room to increase the payout ratio any further. I expect dividend growth to match earnings growth (4.4% p.a.) for the foreseeable future.
Buybacks are not a major feature on the ASX, where investors favor dividends because of the franking credits. The dividend yield is higher, at just over 4.0%, for the same reason.
So the expected average return on the All Ordinaries Index should be no higher than 8.4% p.a. (the sum of dividend yield and expected growth) compared to an expected return of close to 11.0% for the S&P 500. That is, if buybacks are effective in lifting the earnings growth rate.
Obviously one has to factor in expected changes in the (AUDUSD) exchange rate, but that is a substantial difference for offshore investors. Local investors are also taking into account franking credits which benefit could amount to an additional 1.4% p.a.. But that still leaves a grossed-up return just shy of 10 percent (9.8% p.a.).
I would have expected a larger risk premium for a smaller exchange with strong commodity exposure.
May 15, 2017 at 12:06PM
from ColinTwiggs
Why or why not?
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May 15, 2017 at 12:02PM
from /u/ThreeAmigos123
The latest CorpGov Today! http://ift.tt/1nAff2a #esg
May 06, 2017 at 12:04PM
https://twitter.com/nminow/status/860751882943377408
from Nell Minow
The latest CorpGov Today! https://t.co/jfib0Onfbu #esg
— Nell Minow (@nminow) May 6, 2017
Lisette retweeted:
@nassar245 Love it #CorpGov $CDII awesome by #mariettaanisim7 by #Abl6OQXa7T7bRSR by… by #BnkqnBS3XFjMBAX
May 06, 2017 at 12:04PM
https://twitter.com/NYEFrABb6BEvZfD/status/860746491685519361
from Lisette
@nassar245 Love it #CorpGov $CDII awesome by #mariettaanisim7 by #Abl6OQXa7T7bRSR by… by #BnkqnBS3XFjMBAX
— Jonathan Marks, CPA (@jtmarkscpa) May 6, 2017
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Hodge: corporate governance rules need reform
CCH Daily inc Accountancy Live (subscription) (blog) Hodge: corporate governance rules need reform. Corporate governance needs a complete overhaul to produce effective legal sanctions and restore confidence, says Chris Hodge, policy adviser at ICSA: The Governance Institute. This is premium content. |
May 04, 2017 at 11:45AM
from
LONDON — Morrisons’ sales jumped by 3.4% in the first quarter of the year, the supermarket said on Thursday.
Sales at stores that have been open for at least a year were up 3.4%. Sales including fuel were up a huge 6.3%.
The results show strong momentum at Morrisons, which until recently was struggling to keep pace with discounters Aldi and Lidl and the move towards convenience stores. For comparison, Morrisons sales grew by 2.9% in the final quarter of 2016, enjoying its best Christmas in 7 years, and by just 0.7% in the same quarter last year.
CEO David Potts, who was parachuted in to turnaround the business two years ago, says in Thursday’s update:
“Our new financial year has started well, thanks once again to the dedication of our team of food makers and shopkeepers. We are improving the shopping trip in many different ways, which is making Morrisons more popular and accessible for customers. These new initiatives in-store, online, in wholesale and services are beginning to build a broader, stronger Morrisons.
“We are confident we will continue to turnaround and grow Morrisons. Our expectations and guidance for 2017/18 are unchanged, including year-end net debt of less than £1bn.”
Morrisons highlights the launch of new ranges, such as its healthy “Eat Smart” option, and new products, such as womenswear, for helping to drive the growth.
A push into online is also paying off for the supermarket. Morrisons launched an online flower deliver service that is doing well and says its new partnership with Amazon to deliver groceries “continues to grow, with the same-day and one-hour delivery service recently extended into more London postcodes.”
Analysts at Jefferies say in a note on Thursday morning: “We would expect the Amazon wholesale agreement, the Safeway wholesale efforts, and the Rontec joint venture to contribute a steady level of like-for-like accretion in the quarters ahead.”
Rival Sainsbury’s warned on Wednesday in its full-year results that the market remains “challenging” and said “the picture is changing” for the UK economy. Morrisons says on Thursday: “There was some inflation during the period, as imported food prices were affected by lower sterling.”
Jefferies says: “[Morrisons] remains better equipped than peers to face an unhelpfully uncertain UK outlook.”
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May 04, 2017 at 11:58AM
from Oscar Williams-Grut