Brazil World Cup grounds up for sale following cash flow problems

first_img Brazils World Cup stadium in Natal is up for sale as the company that owns it is suffering from cash flow problems following a corruption scandal.Natals Dunas arena is being sold by owner Grupo OAS, with the company also trying to sell the 50% share it owns of the Fonte Nova arena in Salvador.The company has struggled for months with the impact of a corruption investigation at state-controlled oil company Petrobras, which undercut the builders access to financing.An economic downturn, government austerity and a slumping currency has also taken its toll, leading to Grupo OAS to announce it is selling its stakes in football venues and other businesses to focus on the core construction business.OAS spent $187m (£126.2m) on completely rebuilding the old Fonte Nova arena in Salvador and $134m on the new Dunas arena. The Fonte Nova hosted six games in the 2014 tournament and the Dunas arena four.The announcement was the latest in a string of bad news for Brazilian football post-World Cup.Earlier this week Esporte Club Bahia, one of the biggest clubs in Salvador, said they were abandoning plans to use the Fonte Nova because they felt the owners did not respect their fans. Closelast_img read more

As Diwali drives online sales ecommerce firms fail to deliver orders in

first_imgAmazon boxes are seen stacked for delivery.ReutersThe Diwali shopping rush has squeezed the e-tailers’ logistical means dry, resulting in long delays for customers who have ordered goodies and gifts online. The e-commerce companies that sought to capitalise on the high festive demand have apparently failed to make sure that orders are delivered in time. Giant e-retailers Amazon and Flipkart are unable to carry out quick deliveries in the middle of their annual festive battle. Further, even prime users on Amazon, who normally receive their deliveries within one day of ordering the product, have also reportedly faced delays for Diwali related purchases, The Times of India reported.During the festive season in India, the electronic items and smartphone segments mostly drive the sales for the e-commerce sector as they provide heavy discounts to the customers during that period. However, to meet the demand rush, such big e-retailers take a significant time and make sure that the preparation is done to serve the customers in time.According to recent reports, temporary recruitments in India have also gathered steam driven by strong demand for the e-commerce delivery requirements and retail stores this festive season. These temporary roles mostly involve delivery executives, shop floor managers and sales personnel among others.Amazon had recently announced about 22,000 openings for seasonal jobs in India. Flipkart too had added about 20,000 temporary staff to its logistics workforce for its biggest annual event, Big Billion Days. These temporary workers are expected to help pick, pack, ship and deliver customer orders.Despite these efforts to meet the surging customer demand, such giant e-commerce companies are not able to deliver the products to the customers in time.”Many sellers are still shipping items placed during the last leg of the sale event and the additional demand of sending time-bound Diwali products is taking a toll on the delivery timeline,” a seller said. Flipkart Big Diwali Sale screenshotFlipkartLast week, a report by e-commerce advisory firm RedSeer Consulting also found that delivery time has increased for e-tailers in the festive period. The report came at a time when e-commerce majors are claiming record speed in delivery during festivals. The RedSeer report had also stressed that training the delivery boys is a key concern and should be taken seriously because it helps them increase the delivery rate through proper route planning and customer interaction which is a very important metric for the industry to grow.last_img read more

Over 100 die in Cuba plane crash

first_imgA Cuban state airways plane with 110 passengers and crew on board crashed shortly after taking off from Havana on Friday, leaving a mass of twisted and smouldering fuselage, as the country’s president warned many people were feared dead.Cuban state media reported that three women had been pulled alive from the mangled wreckage and were in critical condition in hospital.There was no other official mention of survivors from the nearly 40-year-old Boeing 737, operated by Cubana de Aviacion. It crashed into a field close to a wooded area near Jose Marti airport, sending a thick column of acrid smoke into the air.The 110 people aboard included six Mexican crew, said the Mexico-based company that leased the plane, Global Air, also known as Aerolineas Damojh.Two victims were Argentine, the country’s foreign ministry said. Most of the others were Cuban, according to state media.The plane—carrying 104 passengers—was almost completely destroyed in the crash and subsequent fire. Firefighters raced to the scene along with a fleet of ambulances to put out the blaze.Emergency personnel combed through the wreckage, lending little hope that there could be other survivors.What appeared to be one of the wings of the plane was wedged among scorched tree trunks, but the main fuselage was almost entirely destroyed.Cuba’s president Miguel Diaz-Canel, who visited the scene, told AFP authorities feared the worst.“The news is not very promising—it seems that there is a high number of victims,” Diaz-Canel said.The 58-year-old president, who succeeded Raul Castro as the communist island’s leader only last month, appeared aghast as he surveyed the recovery efforts, wearing a short-sleeved green shirt and surrounded by officials.He said an investigation into the cause of the accident was underway.Cuba declared two days of national mourning.Raul Castro sent condolences to families of the victims of the “catastrophic accident,” a statement read, as Russian president Vladimir Putin and a string of Latin American leaders also expressed sympathy.‘The explosion shook everything’Airport sources said the plane took off at 12:08 pm (1608 GMT) heading for the eastern city of Holguin, 670 kilometres (415 miles) away.From the supermarket where he works near the airport, Jose Luis, 49, said he could see the plane taking off before it banked and plunged to the ground.“I saw it taking off. All of a sudden, it made a turn, and went down. We were all amazed,” he said.Yasniel Diaz, a 21-year-old musician, said the pilot appeared to attempt an emergency landing, but crashed instead.“The explosion shook everything,” he said.“I started running, I was so afraid.”Images from Cuban television showed rescue workers at the scene removing what appeared to be a survivor on a stretcher as rain began to fall.Anguished relativesGlobal Air said the plane was flying with a crew of six Mexicans—the pilot, co-pilot, three flight attendants and a maintenance technician.In Mexico City, anguished relatives and colleagues of the crew gathered outside the company’s offices demanding information—some of them hugging and crying.“I was friends with the captain, with the co-pilot, with the head flight attendant,” said a former Global Air employee, 44-year-old Ana Marlene Covarrubias.“When I heard the news on the phone, I thought it was one of those jokes people play,” she told AFP.Mexico said it had sent two civil aviation specialists to help in the investigation.The Mexican communications and transportation ministry said the plane was built in 1979. Global Air had the necessary permits to lease it, and had passed inspections in November last year, it said.The company, formed in 1990, had a fleet of three planes, all Boeing 737s.Prior to Friday’s crash, Cuba’s most recent air accident occurred in April 2017, when eight military personnel died when a Russian-made AN-26 transport aircraft went down in western Cuba.The country’s last major airline disaster was in November 2010 when a Cuban Aerocaribbean jet crashed on a flight from Santiago de Cuba to Havana, killing all 68 people on board, including 28 foreigners.last_img read more