Innscor Africa Limited (INN.zw) listed on the Zimbabwe Stock Exchange under the Industrial holding sector has released it’s 2016 presentation results for the half year.For more information about Innscor Africa Limited (INN.zw) reports, abridged reports, interim earnings results and earnings presentations, visit the Innscor Africa Limited (INN.zw) company page on AfricanFinancials.Document: Innscor Africa Limited (INN.zw) 2016 presentation results for the half year.Company ProfileInnscor Africa Limited manufactures and markets fast-moving and durable consumer products in Zimbabwe and exports to international markets. The company is primarily involved in maize milling and the production of stock feeds, edible oils, baker’s fat and pork products; as well as poultry, table eggs and day-old chicks. A subsidiary division manufactures and markets a range of plastic carry bags, televisions, refrigerators and other general household appliances and consumables such as rice, dairy, candles and beverages. Innscor Africa Limited was founded in 1987 and its operations comprise National Foods Holding Limited, Colcom Holdings Limited, Irvine’s Zimbabwe (Private) Limited, Bakeries, Appliance Manufacturing, Natpak (Private) Limited, Profeeds (Private) Limited and Probrands (Private) Limited. Innscor Africa Limited is listed on the Zimbabwe Stock Exchange
I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Enter Your Email Address Manika Premsingh has no position in any of the shares mentioned. The Motley Fool UK has recommended GlaxoSmithKline and Unilever. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares See all posts by Manika Premsingh Simply click below to discover how you can take advantage of this. They say that when the US economy sneezes, the world gets a cold. After all, it’s the largest single country economy t0day. If it’s in a poor state, the worlds feels the impact. For that reason, I like to keep an eye on latest developments there. This is especially true right now, when all countries are trying to climb out of a sudden recession that has impacted almost each and every FTSE 100 stock. Leading economic indicators still weakUnfortunately, the latest leading indicators of US economic health aren’t inspiring. Weekly jobless claims rose to 1.4m last week. Not only is this higher than economists expected, there’s also a break in the trend of falling initial claim numbers seen in the past weeks. High-frequency labour market data is critical right now, because it gives a constant account of how much activity is taking place in the economy. Rising jobless claims means that employers are laying off people, which suggests a weakening economy. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…When this is coupled with the UK’s already poor economic data, it suggests some more pain in store, even if for the short term. I think it’s a good idea to recession-proof an investing portfolio now. Investing £1,000 through a Stocks and Shares ISA is even better, to avoid additional tax liabilities, especially now when income insecurity is high for many. FTSE 100 stocks to buyOne FTSE 100 stock I like is the Anglo-Dutch consumer goods’ giant Unilever, which reported an earnings increase on Thursday despite a marginal sales decline. I like its earnings per share (EPS) growth of 6.4%, which gives comfort from the dividend perspective. Now, the ULVR dividend yield isn’t exactly impressive at 3.1%. But, at present, continuity counts for a lot. FTSE 100 companies have slashed dividends left, right, and centre, making it a hugely disappointing time for income investors. With an EPS increase, I think the ULVR dividend just became more secure. It’s long-term share price chart is also encouraging for growth investors. The FTSE 100 speciality chemicals and sustainable technologies company Johnson Matthey is another one to consider. Its latest update, also released on Thursday, shows weakness, but it’s an otherwise financially stable company. Its revenues are rising and it has also consistently made profits. For income investors, who may be left holding the bag in the wake of the recession, JMAT’s dividends like ULVR’s, may also be some small consolation. The company has cut its dividends, but it still pays them and has a 2.5% yield. Finally, GlaxoSmithKline, the FTSE 100 pharmaceuticals and healthcare giant is a stock to buy. Its share price is relatively inexpensive, despite the spotlight it has found itself in recently while developing a Covid-19 treatment. Its price-to-earnings (P/E) is at 14.8 times, and this when it also has a dividend yield of 4.8%. The point I’m making here is this: there’s no dearth of high-quality FTSE 100 stocks that can be bought today to recession-proof a portfolio. And these are just three of them. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Manika Premsingh | Saturday, 25th July, 2020 Stock market crash: I’d invest £1,000 in these 3 recession-proof FTSE 100 stocks for my ISA today Image source: Getty Images. “This Stock Could Be Like Buying Amazon in 1997”
Our 6 ‘Best Buys Now’ Shares See all posts by Royston Wild Simply click below to discover how you can take advantage of this. FREE REPORT: Why this £5 stock could be set to surge Get the full details on this £5 stock now – while your report is free. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Pearson. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. This is why FTSE 100 stock Pearson’s share price is rocketing! Royston Wild | Wednesday, 20th January, 2021 | More on: PSON Enter Your Email Address The Pearson (LSE: PSON) share price has been mighty buoyant in Wednesday trade. The educational materials specialist was 7% higher from last night’s close, thanks to a positive reception to fresh financials.At 726p per share, Pearson is now at its most expensive since September 2019. Here’s what the FTSE 100 share had to say for itself.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Sales fall by double digitsPearson said group sales dropped 10% during 2020, slightly better than what the market had been expecting. As a consequence, it said that full-year adjusted operating profit would range between £310m and £315m. This was bang in line with City consensus.The UK share said the impact of Covid-19 “has been felt most acutely across International and Global Assessment due to test centre and school closures, exam cancellations, reduced global mobility and international economic pressure on spending.”It added that the pandemic had hastened demand for digital learning, a phenomenon which resulted in a “strong” performance for its Global Online Learning division. Sales here soared 18% in 2020, thanks to strong enrolment numbers at new and existing virtual schools.It added that sales growth had been good at its Online Program Management arm which supports higher education.Strength across its digital operations was offset by significant weakness across its other divisions however. Revenues from its Global Assessment unit tanked 14% in 2020 as test centres and schools were closed. And North American Courseware turnover dropped 13% as higher-priced package and print sales kept declining.Meanwhile, International sales plummeted 19% due to “school and test centre closures and the continuing impact of Covid-19 on public and private spending on courseware and assessments.”In other news, Pearson said ongoing restructuring resulted in cost savings of £60m in 2020. It’s on course for a further £50m worth of savings this year too, it said. Net debt in 2020, meanwhile, came in around £100m better than the market had been expecting, at £500m.A bright future for Pearson?Andy Bird, chief executive of Pearson, commented that “despite facing significant uncertainty, our teams have been laser-focused on closing out 2020, enabling us to report sales and profit for 2020 in line with expectations.” He added: “Uncertainty remains in the near term as a result of the ongoing pandemic, with further lockdowns, exam cancellations and reduced global mobility.”In brighter news, Bird added he is “excited” about the company’s future as online learning takes off. He pointed to several key hires which the FTSE 100 company made towards the end of 2020 “to accelerate our digital growth.”And Pearson’s chief exec affirmed plans to move to a more consumer-focussed approach, one that “[targets] the incredible opportunity that exists to have a direct relationship with millions of lifelong learners.”City analysts reckon Pearson will enjoy a 47% earnings increase in 2021. They predict annual profits will rise 10% the following year too. On current projections, this UK share trades on a forward price-to-earnings (P/E) ratio of around 19 times. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images
Affordable Housing in Zurich / Gus WüstemannSave this projectSaveAffordable Housing in Zurich / Gus Wüstemann Area: 1115 m² Year Completion year of this architecture project ArchDaily 2019 Projects Products translation missing: en-US.post.svg.material_description “COPY” ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/912032/affordable-housing-in-zurich-gus-wustemann Clipboard Year: Affordable Housing in Zurich / Gus Wüstemann Manufacturers: Louis Poulsen, Sky-Frame, Atlas Schindler, Fiechter + Fuchs, Persiana Barcelona, Schenker Storen, Agosti, Cremer Bruhin, Gautschi Fensterbau, Heierli Partner Haustechnik, Kurtisi, MARTI Komfortlüftung & Bauspenglerei, R+R Metallbau, Schaub, Züri Elektro Photographs “COPY” Save this picture!© Bruno Helbling+ 45Curated by Paula Pintos Share Apartments Lead Architects: Switzerland Photographs: Bruno Helbling Manufacturers Brands with products used in this architecture project CopyApartments, Sustainability•Zúrich, Switzerland Architects: Gus Wüstemann Architects Area Area of this architecture project Products used in this ProjectLightsLouis PoulsenLamps – AJ CollectionDoorsSky-FrameFrameless Sliding Doors – Sky-Frame OriginalCivil Engineer:Born Partner AGHlsk Planer:Frei + PartnerBuilding Physicists:Gartenmann Engineering AGBuilder:Corti AGCarpenter:Ernst WielandClient:Baechi FoundationTeam:Bianca Kilian, Daniel Pelach, Panagiota Sarantinoudi, Valentin KokudevCity:ZúrichCountry:SwitzerlandMore SpecsLess SpecsSave this picture!© Bruno HelblingText description provided by the architects. The Baechi Foundation contracted gus wüstemann architects to build a housing block in Zurich with a high living quality on a low budget.Save this picture!© Bruno HelblingContext This housing project is a building of nine flats in the outer green belt of Albisrieden in the city of Zurich. The urban structure is characterized by simple linear buildings from the 1950s with generously sized gardens, which are arranged at right angles to one another. The new building is inside such a green area as part of the rising density within the city, a solitaire, in between the linear buildings. The Baechi Foundation specifically asked for affordable housing with a great quality of living in the center of Zurich. Natural light, privacy and a spatial moment of generosity, were the focus of this project.Save this picture!© Bruno HelblingSave this picture!Typical Floor PlanSave this picture!© Bruno HelblingEthical Evidence in Contemporary Housing – SustainabilityThe project Langgrütstrasse 107 should prove that by targeting interventions in light and space and at the same time reducing common standards, great and lively spaces are possible. This without any additional economical effort. In today’s world, it takes a rethink. Sustainability in the sense of less for the individual, but more for the community is becoming increasingly important.Save this picture!© Bruno HelblingIn architecture, here in housing construction, we show with this project – how the shift of the focus, away from connotations and standards – to space, momentum and room quality, makes this possible. These are four two-bedroom apartments of 60m2 and five three-bedroom apartments of 95m2 each.Save this picture!© Bruno HelblingLow Budget – Architecture for Everybody The rents had to be affordable and so all the flats were rented out considerably cheap – the rent is amongst the cheapest in the city of Zurich – Architecture for a low Budget – Architecture for Everybody.Save this picture!© Bruno HelblingMorphologyMorphologically it is a solid concrete block, organically formed, from which two courtyards were cut out. In these courtyards, the living spaces float like bridges, from the morning sun to the evening sun. A continuous space that topographically creates the feeling that the living space is an exterior space – and not an interior space filled up with the housing program.Save this picture!© Bruno HelblingThis results in an incredible moment of magnitude in a small space. Hence there is a generous open living space – which can be enlarged to the periphery of the balconies and sheltered by the famous wooden persianas from Barcelona. Economically optimized interventions by reducing all the technical installations of the building to a minimum – in Swiss standards – we focus on a couple of interventions that add major value to the quality of the living space. These are sliding windows and a built-in bench as the communicative element of the concrete topography.Save this picture!© Bruno HelblingConcrete Topography and SensualityThe periphery of the living space is topographically processed and makes the space-limiting elements communicative. Therefore, the building elements and especially the periphery of the space is not a parting wall, but a topographically shaped protagonist – the topography incorporates programmed like wardrobe and living room bench. The bathroom of the 3-bedroom flat is separated from the common area by a sliding door, that does not touch the floor. It keeps the space floating as a common space, what it is and at the same time gives all the intimacy you need.Save this picture!© Bruno HelblingThe entrance to each flat is guided by a condensed massive concrete beam, that catches the moment of entry. The concrete bench growing out of the bathroom wall creates a common space just at the entry of the bath sliding door, there is a moment of program intersection. The concrete floor floats in all the bedrooms, letting the common space flow and then inside the room a wooden floor implicates another level of intimacy.Save this picture!© Bruno HelblingProject gallerySee allShow lessSede Lineastudio Arquiteturas / Lineastudio ArquiteturasSelected ProjectsJoin the Architectural Association El Alto 2019WorkshopProject locationAddress:Zúrich, SwitzerlandLocation to be used only as a reference. It could indicate city/country but not exact address. Share Gus Wüstemann / Bianca Kilian – Project leading Architect ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/912032/affordable-housing-in-zurich-gus-wustemann Clipboard CopyAbout this officeGus Wüstemann ArchitectsOfficeFollowProductsWoodConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingApartmentsSustainabilityZurichZúrichSwitzerlandPublished on February 25, 2019Cite: “Affordable Housing in Zurich / Gus Wüstemann” 25 Feb 2019. ArchDaily. Accessed 11 Jun 2021.
Red Fawn Fallis being arrested.#NoDAPL water protector Red Fawn Fallis was sentenced July 11 to 57 months in prison by a federal judge in North Dakota. She was given 18 months’ credit for time served prior to trial, and will have three years of probation supervision after her release. She and her family await news of where she will serve time, possibly in Arizona.Red Fawn had previously accepted a plea agreement that included two federal felony convictions — civil disorder and possession of ammunition by a previously convicted felon — in return for dropping a more serious weapons charge that would have carried a minimum prison sentence of 10 years.Her charges resulted from the Oct. 27, 2016, militarized police attack on the 1851 Treaty Camp near Standing Rock, directly in the path of the Dakota Access oil pipeline (DAPL). Red Fawn was tackled by several cops, who then claimed that she had a gun and fired it during that time.As it turned out, the gun belonged to Heath Harmon, a paid FBI informant who had weaseled his way into Red Fawn’s life as her boyfriend and into her family’s good graces. Many believe this spying was done to try and obtain information through Red Fawn about actions and plans at the #NoDAPL camps. Red Fawn, who is from the Pine Ridge Reservation and also Denver, Colo., comes from a proud line of American Indian Movement activists.Red Fawn understood clearly that there could be no justice for an Indigenous woman in any court in North Dakota. Her lawyers were told they could not introduce evidence at trial about relevant subjects such as treaty rights and the FBI informant who targeted Red Fawn and likely planted the gun at the time of her arrest.The prosecution refused to produce important evidence that might have cleared Red Fawn. As a result, she accepted a plea deal that would eliminate the more serious weapons charge, out of concern that otherwise she would be found guilty and sentenced to more than 10 years.More ‘civil disorder’ chargesAs an Indigenous woman, Red Fawn is being severely penalized for daring to defend treaty rights, protect the water and stop the Dakota Access Pipeline. Since the beginning of settler colonialism, Indigenous women have been viewed with utter contempt, and their countless efforts to defend their land and families have been harshly repressed and punished.While the #NoDAPL encampments began at Standing Rock more than two years ago, the court cases are continuing to snake through the courts. Indigenous defendants are being hit with the most severe charges and prison terms. Dozens more water protectors still face state charges, and several face federal charges that carry the potential of spending decades in prison if convicted.Michael “Little Feather” Giron was sentenced on May 30 to a 36-month federal prison term for “civil disorder.”Michael “Rattler” Markus awaits sentencing on Sept. 27. Under his plea agreement, there will be a joint recommendation of 36 months in prison for “civil disorder.”Dion Ortiz is awaiting sentencing on Oct. 22. Under his plea agreement reached on July 17, prosecutors will recommend up to 36 months in prison for “civil disorder.”James “Angry Bird” White entered into a noncooperative plea agreement in July for a sentence of time served plus 12 months of home confinement for “civil disorder.”‘Water Is Life!’ struggle continuesThe cops and federal government intended all their brutality and arrests to put a damper on water protectors during the time of the widespread international effort to stop the Dakota Access Pipeline. Water protectors were arrested by the hundreds, attacked by dogs, sprayed with mace and pepper spray over and over, hit with concussion grenades and rubber bullets, seriously injured, denied medical care, strip-searched and placed in dog cages upon arrest.The militarized attacks against the camps at Standing Rock were part of a centuries-old history of government repression directed against Indigenous people who defend their lands.Once again, that repression has backfired. Resistance continues to grow. From British Columbia to Louisiana, from the nation of Colombia to Minnesota, pipeline fighters and water protectors continue to spring up everywhere. Throughout Turtle Island, Indigenous people and allies rise together to say, “Water Is Life!”Part of supporting that resistance is to ensure that our political prisoners are never forgotten or left behind. For updates and information about how to contact Red Fawn and other #NoDAPL political prisoners, go to tinyurl.com/y8qlcb23/.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Featured, Media, Webcasts The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago DS News Webcast: Thursday 5/29/2014 The Best Markets For Residential Property Investors 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Previous: Home Price Appreciation Accelerates; Foreclosure Sales Slow Next: LenderLive Names New VP of National Sales Print This Post Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: DSNews Home / Featured / DS News Webcast: Thursday 5/29/2014 2014-05-29 DSNews Sign up for DS News Daily Is Rise in Forbearance Volume Cause for Concern? 2 days ago May 29, 2014 523 Views U.S. residential properties sold at an estimated annual pace of 5.2 million in April, according to RealtyTrac’s April 2014 Residential & Foreclosure Sales Report. The median sales price of both distressed and non-distressed properties was $172,000 for the month, an increase of 4 percent from March. April’s increase was the biggest year-over-year increase since U.S. median prices bottomed out in March 2012, according to RealtyTrac.Short sales and foreclosures declined for the month, dropping to 15.6 percent of all sales in April, down from 16.5 percent of all sales in March. Short sales and distressed sales are down yearly from 17.2 percent in April 2013. The metro area with the highest share of combined short sales and distressed sales was Las Vegas, Nevada at 37.7 percent. Rounding out the top five metros are Stockton, California; Modesto, California; Lakeland, Florida; and Orlando, Florida.The Federal Housing Finance Agency released its latest Refinance Report, which reported that approximately 77,000 refinances were completed through the Home Affordable Refinance Program, or HARP, in the first quarter of 2014. 3.1 million refinances have been performed using HARP since the program’s inception. The first quarter of 2014 marks the fourth straight quarter that total refinances and HARP refinances have declined. The report attributed the decline to March’s rising interest rates. Demand Propels Home Prices Upward 2 days ago
October 22, 2020 1,132 Views The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: CFPB Dodd-Frank Act Rule Print This Post Subscribe Related Articles Previous: Serious Delinquency Rate Improves for First Time Since March Next: Stimulus Could Help Keep American Economy ‘Afloat’ Data Provider Black Knight to Acquire Top of Mind 2 days ago CFPB Dodd-Frank Act Rule 2020-10-22 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Phil Hall CFPB Addresses Regulating Consumer Access to Financial Data Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago The Consumer Financial Protection Bureau (CFPB) has issued an advance notice of proposed rulemaking (ANPR) requesting input on regulating consumer access to financial records. With the ANPR, the CFPB is looking for suggestions on how the agency could most efficiently and effectively develop regulations implementing Section 1033 of the Dodd-Frank Act, which focuses on consumer rights regarding the access of financial records. The agency added the ANPR is specifically seeking comments and information on costs and benefits of consumer data access, competitive incentives, standard-setting, access scope, consumer control, and privacy and data security and accuracy. “When consumers use financial products and services, the providers of those products and services generally accumulate data about those consumers and their use of those products and services,” the CFPB said in a press statement. “Consumer access to these data allow consumers to manage their financial accounts and can enhance consumers’ control of their financial matters. Consumers may realize these benefits by authorizing third parties to access these data on their behalf and allowing those third parties to deliver new or improved financial products and services. Use cases for consumer-authorized data include personal financial management, making and receiving payments, assisting consumers with improving savings outcomes, underwriting credit, and many other services.”In February of this year, the CFPB hosted a symposium titled “Consumer Access to Financial Records and Section 1033 of the Dodd-Frank Act.” In the report issued after the symposium’s conclusion, the CFPB observed that while consumers’ ability to access their financial records in electronic form “empowers them to better monitor their finances” while encouraging financial services companies to make the consumer experience more efficient, it also determined that “this kind of expanded access to consumer financial records raises a number of concerns, particularly with respect to data security, privacy, and unauthorized access.” The ANPR comments are due within 90 days after its publication in the Federal Register, with the ANPR identified by Docket No. CFPB-2020-0034 or RIN 3170-AA78. The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / CFPB Addresses Regulating Consumer Access to Financial Data Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured
ColumnsArtificial Intelligence: A Friend Or Foe For The Legal Industry? Preeti Ahluwalia26 May 2020 1:32 AMShare This – xArtificial Intelligence (AI) is the most trending topic around the world these days,1 with multiple industries exploring their possibilities2 and its use cases emerging almost every day.3 The old and monotonous manual jobs requiring large numbers of skilled labours and workers are now can be done in just seconds with the help of computers.4 As technology advances it has paved a new…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginArtificial Intelligence (AI) is the most trending topic around the world these days,1 with multiple industries exploring their possibilities2 and its use cases emerging almost every day.3 The old and monotonous manual jobs requiring large numbers of skilled labours and workers are now can be done in just seconds with the help of computers.4 As technology advances it has paved a new concept commonly known as “Artificial Intelligence”. Quickly after its inception AI has paved its way into different areas. Similarly the legal profession is also getting affected by the advancement of this technology and much truly has gone through an adoption of AI.5 But what is AI, and what is its relation to the practice and administration of law? The purpose of this article is to address those questions by providing an in-depth overview of AI and its use within law. This article aims to contribute to the body of knowledge of Law and technology. “AI is not a story of Human vs. Machine.6 Rather, it’s human and machine vs. the problem.”7 History of AI? In 1956, John McCarthy commonly known as the ‘Father of AI’8 articulated his notion of what is called AI in his first academic conference famously known as ‘the Dartmouth Conference’.9 Later Alan Turing, a great mathematician10 introduced the idea of whether if it is possible to make machines have the same ability to think and learn by itself. He was able to put his theories and questions into actions by testing whether “machines can think and operate like human being”? After series of testing (which was later known as Turing Test) it turns out that it is possible to enable machines to think, learn and operate just like human beings.11 The Turing Test uses the pragmatic approach (something that is based on practical considerations, rather than theoretical ones) to be able to categorize if machines can respond as humans.12 What is AI? AI is basically the area of study that defines the capabilities of machine learning just like humans and the ability to respond to certain behaviors.13 AI is designed using various algorithms that help the system to determine the probable answer, which will basically tell the system what to expect and work accordingly.14 All machines and software that use AI behave and interact like humans. Just the way humans need time and experience to grow physically and mentally, AI also needs time. It keeps developing with the experiences by storing data and applying it in future whenever necessary. AI technology has advanced and developed a large number of tools to solve the most difficult problems in computer science, i.e., logic, NLP (National Language Processing), control theory, search and optimization, probabilistic methods for uncertain reasoning and many more.15 Currently, AI is being used in many areas, for instance, autonomous vehicle (drones and self-driven cars),16 Airport Security (Face detection),17 medical (diagnose of disease and design new drugs),18 playing games (chess),19 search engines and recommendations (Google search, YouTube, Amazon), online assistant (Siri, Alexa),20 Credit risk assessment,21 Photography (AI-powered cameras, portrait mode detecting depth in Android phones),22 Instagram application using machine learning to find and search function, target advertising, fight cyber bullying and removing of offensive comments on the posts,23 Uber cabs request for Demand-Supply, optimal pickup points, expected time of arrival for rides.24 In short, applying a brain into machines that allow them to take decisions by themselves is the literal meaning and purpose of AI. AI’s presence, contribution and impact in the Legal Industry At its core, ‘AI and law’ are mainly concerned with applications of computer and mathematical techniques to make law more logical, convenient, beneficial, accessible, or probable.25 Theories of legal decision making, particularly argumentation model, is helpful for informed representation;26 the model of social organization has contributed to multi-agents systems; reasoning with legal cases has impacted to case-based reasoning;27 and the need to store and retrieve large amounts of textual data has resulted in contributions to conceptual information retrieval and intelligent databases.28 With that notion, one might trace the roots of similar ideas back to Gottfried Leibniz (a mathematician known for calculus and also a trained lawyer who researched how numerical formulas might improve the law) in the 1600s.29 The terms AI & Law was first used in the 1970s by Buchanan and Headrick.30 The period includes Thorne McCarty’s significant TAXMAN project,31 which was concerned with the modeling of the majority and minority arguments in a US Tax law case32 in the USA33 and Ronald Stamper explored LEGOL project that attempted to provide a formal model of the norms that administer the organization in the UK.34 In 1980, Carole Hafner’s did some amazing work in this field, which included work on conceptual retrieval,35 and Anne Gardner’s computational model is much discussed in jurisprudence, which helped differentiating between easy and hard case laws.36 In 1987 a periodic conference, the International Conference on AI and Law (ICAIL), was formed, which is contended to be the foundation of AI and Law community. This conference was the main place for announcing and developing ideas within AI and Law,37 which later in 1991 led to the foundation of the International Association for Artificial Intelligence and Law (IAAIL).38 Examples in AI and Law include Valente’s functional ontology (the term ‘ontology’ refers to the study of conceptualisation) and since then Legal ontologies have become the topic of regular workshops at AI and Law conferences.39 In 2018, a study depicted that LawGeex, which is an AI contract review platform, tried it on human Lawyers and surprisingly the system achieved an accuracy rate at 94% surfacing risks in Non-Disclosure Agreements (NDAs) in comparison to experienced human lawyers who average out at an 85% accuracy for the same task. The legal AI system took 26 seconds to complete the review whereas the human lawyers took an average of 92 minutes.40 The companies are using AI on their daily legal works, including drafting and assessing contracts, mining documents in discovery, answering regular questions or examining data to predict outcomes.41 Legal AI means lawyers are gradually determined on the current realities and future of the law, rather than just the examples of the past.42 Despite defeating lawyers at smaller tasks, experienced and educated lawyers are still required as trusted advisers in important deals. The goalmouth is to use AI as well as human brain to ensure that research is done more precisely and more consistently than a human or technology alone.43 Pros and Cons of AI Technology in the Legal Industry Half of the world is trying to convince others that AI is an ‘enemy’ for the legal industry whereas few have already proclaimed it as a ‘friendly’ tool. Therefore, the sole objective of this part is to throw some light on both of these perspectives in the form of pros and cons. A. Pros: i. Due diligence reviews – ‘Due diligence’ is one of the main responsibilities that lawyers perform on behalf of their clients viz, the validation of facts and figures, carefully assessing risks, and structuring an agreement. This process is needed for advising clients about all the possible options they have, and what actions they should take. Generally lawyers conduct a comprehensive analysis (from collecting documents to examining each text for key data points) for meaningful outcomes. As such, lawyers are also prone to mistakes and inaccuracy when analyzing spot checks. On the other hand, technological advancement have changed the way many MNCs conduct due diligence. With AI technology, the work can remarkably be done faster, while guaranteeing greater accuracy in their reporting and saving lawyers time and energy that can be used more productively elsewhere. There are numerous tools (example, iManage Diligence Engine, Kira Systems, LawGeex, Legal Robot, Casetext) that can automate this process using AI technology.44 ii. Legal Research & Time Saving – Another evident advantages of AI is legal research and time consuming quality. AI driven legal research has a great potential in reducing the time required to prepare quality research. In today’s legal panorama, clients expect to get the best opinion possible at a reasonable price. Companies and law firms that adopt AI legal research software are being proactive at guaranteeing their clients walk away knowing they have received the best legal opinion without paying extreme legal fees.45 iii. Prepare and create contracts – Another benefit of AI devices is that they can create contracts by utilizing effective tools. These devices act as a self-service tool for clients, for example, Contract Express, which is contract automation software that helps the client to create and produce agreement they require, enter few terms and conditions, and the structure will deliver a standard shape understanding prepared to go.46 iv. Error detection and reduction – With AI coding, it is now possible to look at the organization records like posts, reports and unstructured information and detect unpleasant conduct before it can rise to the surface.47 There are numerous other advantages of AI, for instance, it improves organizational and logical structure, which help lawyers recognize gaps and holes in their reports and even in their legal research. Further the most significant benefit of AI is that it reduces lawyers stress in many ways, for example, research, documentation, editing, assembling can be tedious and time-consuming task.48 With the help of AI all that hard work can lessen the pressure and this in turn, can enhance the creative analysis of lawyers. Further, prediction technology has the capability to analyse data to help it make predictions about the outcomes of the cases, legal analytics used to determine trends and patterns from precedent laws, judges’ history and win/loss rates. AI tools help in providing insight into the IP portfolios, and most importantly electronic billing, which help lawyers in preparing the invoices as per the work done by them.49 B. Cons: i. Taking away of jobs – As said by Sundar Pichai, the CEO of Google, “In the next decade, Google will shift from mobile-first to AI-first” (that’s why Google Assistant is designed, which allows people to have a natural conversation between you and Google. AI could replace the jobs of office clerks, administrators, customer service representatives, analysts, and underwriters in the next decade.50 As per the data, it is estimated that nearly around 100,000 legal-related jobs will be automated by 2036 because of AI.51 There are numbers of AI devices that are replacing jobs in the legal sector; for example, an Australian legal tech company has built an aprototype virtual lawyer using Amazon’s Alexa that can create legal documents much faster than an actual lawyer.52 Major law firms are using AI machine learning as machines can look over many thousands of reports and locate the applicable data for a case much faster than a human can.53 ii. Things can possibly go wrong – If untrained professionals at the lower level are working and using the technology then there are chances that many errors and mistakes can occur. iii. Vulnerable to attack – Experts are concerned about the cyber security, which may not be as impactful as depicted. iv. Economic problem – AI being a handy tool brings a lot of expenses too. From its formation, repairing, to programming checks, it requires tremendous expenditures, as they are exceptionally complex machines. On account of serious breakdowns, it may require tremendous time and cost to retrieve the lost codes and reinstating the entire framework.54 How the various pros can overshadow the cons? So far we have discussed about the various aspects of AI on the Legal Profession including its pros and cons. Now we shall focus on how the various pros can overcome the cons as discussed in the earlier part of the article, which AI is deemed to have on the legal industry. Nowadays, there is a burning question as well as the biggest fear among the lawyers that whether the introduction of AI technology in the legal domain would replace the lawyers? And in turn, use of AI based solutions and platforms would increase the productivity and efficiency of the legal domain. The legal industry has seen much of the technological advancement in terms of contract analysis, trademark search software, legal research software and much more. However, none of these AI based solutions plan to take a lawyer’s job, rather they increase the authencity, accuracy of research and analysis in many different ways. In an article, it can be seen that the legal domain is likely to be effected by just 3.25%, which is among the lowest in the list.55 AI will not replace Lawyers, but in the upcoming years, lawyers who will use this technology will definitely replace those who don’t use it. Now answering the question about trained lawyers losing their jobs. In a nutshell, if the research and documentation process is been done by the machines, the trained professionals can focus on the other important tasks for instance, preparing for better arguments, case reports; maintain good client relations, etc.56 Another issue, which the people believe to have on the use of AI is that if it is used by untrained professionals. As per the data, a study shows that the technologies margin of error would be reduced from 3% to +-0.01%.57 The last con on, which the people argue in against of using AI is its tremendous cost that this tech brings along as an economic burden. With the saving of money in terms of the salary paid to the paralegals and researchers can be utilized and revenue generation can increase. Above all, AI tends to save a lot of time of lawyer’s. It is cost effective, which enables the law firm to generate more revenue. The AI helps the lawyer to maintain good client relations. If the work, which takes upto 10-12 hours to complete, it can be done within few seconds with the adoption of AI technology. Legal Framework in India India, being a developing nation, has a considerably huge population and people outstripping in the field of Law and Technology. The Ministry of Industry and Commerce in India, has constituted 18-member task force titled, “Task Force on AI on India’s Economic Transformation”58 to explore all the possible outcomes and in 2018 the task force has given a detailed report providing steps to be taken with regards to the formulation of an comprehensive policy on AI in India. Task Force has also recommended to the Department of Industrial Policy and Promotion (DIPP)59 to set up and fund an Inter-Ministerial national AI Mission, for a period of 5 years, with funding of around 1200 crores, to act as a nodal agency to co-ordinate all AI related activities in India.60 Setting up of data banks and ombudsman will be the duty of Ministry of Electronics and Information Technology (MeitY). While DIPP will look after the formulation and implementation of the regulations related to ownership, privacy and security.61 The report also proposes to Bureau of Indian Standards to ensure that India participates and implements all the required norms with regard to AI systems.62 The report also suggests that DIPP and MeitY should work towards the enactment of policies namely, policy with data, which deals with ownership, sharing rights and usage data and tax incentives for income from AI applications. Ministry of Human Resource Development and Ministry of Skill Development and Entrepreneurship should look after education curriculum to develop adequate human resources with required skill sets to meet the growing demands of professionals who can handle AI systems.63 Finally the report proposes for inter-ministerial collaborations to ensure that India actively participates in all the meetings and conferences on AI conducted at international forums.64 There are few conferences that are taking place in India, like, The Machine Conference 2020, Data Science Congress 2020, The Rising 2020, Gartner Data & Analytics Summit 2020.65 India has taken many initiatives for the formulation and implementation of AI. Though, the liability and punishment part of this technology is lacking, as there is no legal personality as of now. There are number of theories suggesting on how AI can be brought under criminal and civil law: for instance, Natural consequence theory where the user will be held accountable for their negligent rational state, innocent agent theory where the programmer will be held liable and direct approach theory where independent AI entitiy will be responsible for its own act. Tort of negligence would require establishing that AI owned a duty to take care, a duty towards the plaintiff, and damage was caused to the plaintiff due to breach of such duty by AI. Since machines have been treated as consumer products therefore, strict liability rule has been assigned to the manufacturers. At present, AI entity is not held liable due to lack of a legal personality.66 The goal of this article was to provide a realistic and demystified view of AI and law. The purpose of applying AI based legal solutions and deep machine learning methods is to increase the overall performance of legal systems. From the aforementioned discussions, it can be concluded that if the lawyers and law firms use AI technology, it is going to improve the efficiency in research process, the use of software can pacify the process of document review, a lot of resources will be saved in form of time and money. The world is changing with increase in technological advancements. AI is leading in multiple sectors by automating jobs of legal professionals at a certain level, but this won’t up take their jobs instead it will lead them to various different roles. It is difficult to make a statement about how the whole process of AI in the legal industry will look after a couple of decades but as of now it can be said that the adoption of AI in the legal industry is worth a shot. The innovation of every technology comes with some issues, but that doesn’t mean it’s useless. It is very important to comprehend the new technology in well timed and suitable regulatory framework is established so that the entire world does not miss out from a gigantic opportunity.Views Are Personal Only Endnotes  Sonia K. Katyal, Private Accountability in the Age of Artificial Intelligence, 66 UCLA L. 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ABCNews.com(HOWELL, Mich) — A hot air balloon pilot will live to fly another day after surviving a terrifying crash.At about 8 a.m. Sunday during the Michigan Challenge Balloonfest in Howell, Michigan, the hot air balloon, flying over Thompson Lake, struck power lines, causing a fiery explosion, according to event organizers and ABC Detroit affiliate WXYZ-TV.The pilot, flying solo, escaped uninjured, the completion director said in a statement, which did not identify the pilot.Dave Park, who said he was bass fishing on the lake at the time, told WXYZ how he saw the incident unfold. Park was taking pictures of the picturesque sky decorated with colorful balloons when one balloon began to descend from the sky, collided with overhanging power lines and erupted into flames, he said.“His basket and balloon were on fire,” Park told WXYZ.Sparking wires dangled overhead and charred pieces of balloon littered the shore, he said.Another bystander, Dave Dilworth, told WXYZ he witnessed the accident from the shore.“He was kind of flailing away and yelling and that’s when he broke free,” Dilworth said of the pilot who was still with the balloon as it became engulfed by the flames.“He hit the water 20 to 30 yards from the shore and the guy who was fishing was coming from the other way and I was on 911 and I guess he was on 911, too,” Dilworth said.Park and another fisherman were able to rescue the pilot and get him to safety unscathed, WXYZ reported.There were no injuries and the balloon was recovered shortly after the incident, the completion director said.The U.S. Federal Aviation Administration is investigating. Copyright © 2018, ABC Radio. All rights reserved.