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Skipton International: UK Rental Property Remains Focal Point for Hong Kong and Singapore Investors

Hong Kong, Singapore and U.A.E. investor appetite for UK property demonstrates continues in 2023 demonstrating resilience amidst financial market volatility

GUERNSEY – Media OutReach – 27 March 2023 – Skipton International, the award-winning Guernsey licensed bank, has revealed that UK property investors based in Hong Kong and Singapore favour London, North West and West Midlands. This is according to data provided by Hamptons, the premier UK estate agent who, along with Skipton International, are part of the Skipton Group.

Skipton International - Lorraine McLean

Skipton International – Lorraine McLean

In 2022, over 600 rental property sales were recorded by Hong Kong (over 400) and Singapore (over 200) investors using the Bank’s buy-to-let (BTL) mortgages.

The lion’s share of these sales, 40%, were in London, followed by the North West (Leicester, Liverpool, Manchester etc.) at 23% and The Midlands, including Birmingham, Coventry, and Nottingham at 15%. The remainder was split across numerous areas across the UK.

The table below details the buy-to-let property purchases made in key regions during 2022 via Skipton’s buy-to-let mortgage support for Hong Kong and Singapore -based investors.

HONG KONG PROPERTIES SINGAPORE PROPERTIES
London 157 London 102
North West 106 North West 34
South East 58 South East 20
West Midlands 58 West Midlands 38

Commenting on the research data, Lorraine McLean, Mortgage Sales Manager, Skipton International, said:

“The findings clearly show Hong Kong and Singapore BTL purchasers see UK property as a safe haven asset class amidst last year’s political upheaval and global market volatility. Through introducing new products and competitive mortgage rates, Skipton International offers customers additional opportunities to fund their property portfolios.”

These products include Limited Company (Special Purpose Vehicle) buy-to-let lending, Base Rate Trackers, and Fixed Rate mortgages at attractive rates, plus introducing US Dollar savings accounts to provide more choice for customers.

In first two months of 2023, Skipton International has completed on Buy-To-Let mortgages with a value of over GBP44 million from investors based in Hong Kong, Singapore and United Arab Emirates alone. In comparison, the same period last year saw a slightly lower value, indicating house prices are increasing in the UK.

“The UK property market appears attractive to overseas investors for various reasons including a stable and transparent legal system, an appetite for various cities and towns, and the demand for rental properties continues to outstrip supply,” added Jim Coupe, Managing Director, Skipton International.

Away from city centres such as Birmingham, Cardiff, Edinburgh, Liverpool, London, Manchester where house prices continue to increase, houses in commuter towns and villages attract higher rental rates.

Hashtag: #skiptoninternational #skipton #UKproperty #btl

The issuer is solely responsible for the content of this announcement.

About Skipton International www.skiptoninternational.com

Skipton International offers a range of offshore savings accounts and is one of the Channel Islands’ leading mortgage lenders for residential Channel Island mortgages and UK Buy-To-Let mortgages for expats and non-UK resident nationals.

It is a two-times winner of the Moneyfacts ‘Offshore Bank Account of the Year’ award 2022 and 2023, and the Mortgage Introducer ‘Top Mortgage Employer’ Award 2022.

Skipton International Limited (Skipton), registered in Guernsey: 30112, is a wholly owned subsidiary of Skipton Building Society. It is also part of the Skipton Group, which includes Connells and Hamptons Estate Agents.

The bank is licensed under the Banking Supervision (Bailiwick of Guernsey) Law. Skipton is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for ‘qualifying deposits’ up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any five-year period. Full details are available on the Scheme’s website www.dcs.gg or on request. To help maintain service and quality, telephone calls may be recorded and monitored.

Skipton International has a customer service rating of 4.7 / 5 according to Feefo, an independent online assessor of customer service, and is a three-times Platinum award winner as a trusted provider.

Skipton International: UK Rental Property Remains Focal Point for Hong Kong and Singapore Investors

Hong Kong, Singapore and U.A.E. investor appetite for UK property demonstrates continues in 2023 demonstrating resilience amidst financial market volatility

GUERNSEY – Media OutReach – 27 March 2023 – Skipton International, the award-winning Guernsey licensed bank, has revealed that UK property investors based in Hong Kong and Singapore favour London, North West and West Midlands. This is according to data provided by Hamptons, the premier UK estate agent who, along with Skipton International, are part of the Skipton Group.

Skipton International - Lorraine McLean

Skipton International – Lorraine McLean

In 2022, over 600 rental property sales were recorded by Hong Kong (over 400) and Singapore (over 200) investors using the Bank’s buy-to-let (BTL) mortgages.

The lion’s share of these sales, 40%, were in London, followed by the North West (Leicester, Liverpool, Manchester etc.) at 23% and The Midlands, including Birmingham, Coventry, and Nottingham at 15%. The remainder was split across numerous areas across the UK.

The table below details the buy-to-let property purchases made in key regions during 2022 via Skipton’s buy-to-let mortgage support for Hong Kong and Singapore -based investors.

HONG KONG PROPERTIES SINGAPORE PROPERTIES
London 157 London 102
North West 106 North West 34
South East 58 South East 20
West Midlands 58 West Midlands 38

Commenting on the research data, Lorraine McLean, Mortgage Sales Manager, Skipton International, said:

“The findings clearly show Hong Kong and Singapore BTL purchasers see UK property as a safe haven asset class amidst last year’s political upheaval and global market volatility. Through introducing new products and competitive mortgage rates, Skipton International offers customers additional opportunities to fund their property portfolios.”

These products include Limited Company (Special Purpose Vehicle) buy-to-let lending, Base Rate Trackers, and Fixed Rate mortgages at attractive rates, plus introducing US Dollar savings accounts to provide more choice for customers.

In first two months of 2023, Skipton International has completed on Buy-To-Let mortgages with a value of over GBP44 million from investors based in Hong Kong, Singapore and United Arab Emirates alone. In comparison, the same period last year saw a slightly lower value, indicating house prices are increasing in the UK.

“The UK property market appears attractive to overseas investors for various reasons including a stable and transparent legal system, an appetite for various cities and towns, and the demand for rental properties continues to outstrip supply,” added Jim Coupe, Managing Director, Skipton International.

Away from city centres such as Birmingham, Cardiff, Edinburgh, Liverpool, London, Manchester where house prices continue to increase, houses in commuter towns and villages attract higher rental rates.

Hashtag: #skiptoninternational #skipton #UKproperty #btl

The issuer is solely responsible for the content of this announcement.

About Skipton International www.skiptoninternational.com

Skipton International offers a range of offshore savings accounts and is one of the Channel Islands’ leading mortgage lenders for residential Channel Island mortgages and UK Buy-To-Let mortgages for expats and non-UK resident nationals.

It is a two-times winner of the Moneyfacts ‘Offshore Bank Account of the Year’ award 2022 and 2023, and the Mortgage Introducer ‘Top Mortgage Employer’ Award 2022.

Skipton International Limited (Skipton), registered in Guernsey: 30112, is a wholly owned subsidiary of Skipton Building Society. It is also part of the Skipton Group, which includes Connells and Hamptons Estate Agents.

The bank is licensed under the Banking Supervision (Bailiwick of Guernsey) Law. Skipton is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for ‘qualifying deposits’ up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any five-year period. Full details are available on the Scheme’s website www.dcs.gg or on request. To help maintain service and quality, telephone calls may be recorded and monitored.

Skipton International has a customer service rating of 4.7 / 5 according to Feefo, an independent online assessor of customer service, and is a three-times Platinum award winner as a trusted provider.

Inflation and supply chain fears easing, but global economy continues to face uncertainty

SINGAPORE – Media OutReach – 27 March 2023 –

  • Sharp falls in inflation to leave behind some of the recent challenges for the global economy.
  • Central banks approaching the end of the tightening cycle partly as a response to recent tensions in the banking system.
  • Easing supply chain pressures and resilient labour markets to support recovery but uncertainty about the outlook remains high.
  • KPMG forecasts world GDP growth of 2.1 percent and inflation at 5.3 percent for 2023

KPMG Global Economic Outlook H1 2023

The outlook for the global economy took a positive turn in the first half of 2023 as inflationary pressures began to ease, but ongoing geopolitical tensions and domestic challenges in key markets are slowing any return to sustained growth, according to the latest forecast from KPMG.

According to KPMG’s latest Global Economic Outlook report, global energy prices returning to levels last seen prior to the invasion of Ukraine, combined with easing commodity and food prices, have helped put further downward pressure on inflation for the rest of 2023.

Despite the positive news, major economies throughout the world – most recently the UK and USA – are facing their own domestic pressures, delaying any hopes of improving market conditions and a drop in inflation. The nuanced, complex picture in each country, region and territory is placing unprecedented pressure on central banks, with worries that core inflation could remain sticky and price rises could become entrenched due to the relatively tight economic environment facing a number of territories. Growing fears for the wider international banking system could further complicate matters for central banks as they weigh in financial stability risks against a plan to bring inflation back to target.

The global organisation is forecasting GDP growth of 2.1 percent in 2023 and 2.6 percent in 2024 with inflation forecast at 5.3 percent in 2023 and 3.2 percent in 2024, and global unemployment levels of 5.2 percent in 2023 and 5.4 percent in 2024.

Yael Selfin, Chief Economist at KPMG in the UK, said:

“Despite the resilience of the labour market and the improving inflation conditions, we expect global economic growth to be relatively modest over the next two years, and to stay below its long-term average. Global growth is expected to be driven by the recovery of the Chinese economy and a relatively strong growth in some of the emerging markets, while Eurozone and the US economy are expected to contribute less to global growth over the next two years. Risks to the outlook are broadly skewed to the downside given the volatility in financial markets.

“The global economy has been through a series of significant shocks over the past three years – the Covid-19 pandemic and the Russia-Ukraine conflict – and saw a major expansion to government debt and a significant hike in policy interest rates by central banks. The ramifications of some of these headwinds may not have surfaced yet and we are still to see their full impact and how they interact.”

With monetary policy focused on moderating inflation while stabilising financial markets, fiscal policy is left as the potential tool to boost economic growth. Unfortunately, the public finances have deteriorated significantly over the past three years. Governments have spent significant amounts on first shielding their economies from Covid-19 and subsequently on protecting households and businesses from higher energy prices. That left public debt at historically elevated levels, with less room for expansionary fiscal policy. Even in the U.S., federal spending is expected to slow despite the ramp up in infrastructure spending, although in China fiscal support is to be stepped up following the reopening of the economy. The rise in interest rates has made these larger debt levels more costly to service, putting further pressure on government finances. Nevertheless, some positive growth momentum is expected this year from the relatively smooth reopening of the Chinese economy following the lifting of Covid-related restrictions in December last year.

The pressure on global supply chains has eased significantly in recent months, while shipping costs have dropped too. This should help alleviate some inflationary pressures and improve supply capacity. Global trade remains relatively weak, although we would expect it to recover this year as trade flows normalise with the reopening of the Chinese economy and a recovery in global growth, while we expect geopolitical tensions to continue to exert some pressure on trade flows over the medium term. Consumer demand is also expected to pick up this year, with excess savings – money saved during the pandemic when spending on certain services was not possible – still relatively high in China and Europe, which could potentially be deployed once confidence returns. Indeed, consumer confidence has started to improve in Europe, although it remains at relatively low levels.

Paul Kent, Partner, Advisory, at KPMG in Singapore, said:

“Singapore stands out as a beacon of hope amid global economic uncertainties. Even as the world faces challenges such as geopolitical tensions and banking crises, Singapore continues to experience steady growth in its economy that is expected to remain notably higher compared with other regions – thanks to strong optimism in the ASEAN region and sustained international investment in the nation. Furthermore, unemployment levels remain low and are expected not to rise significantly this year, highlighting Singapore’s relative resilience in the labour market.

“To ensure that Singapore remains vibrant and competitive economically, businesses across sectors need to focus their efforts on increasing productivity and upskilling their workforce to weather any potential turbulence ahead. Moreover, Singapore must also continue to keep a close pulse on the implications of global developments on inflation and interest rates to ensure that households and businesses remain sufficiently cushioned from the rising costs.

“The good news is that Singapore has in place robust and sound controls to safeguard its financial systems, with overall limited risk and exposure to banks here so far. However, the country will have to tread cautiously amid heightened volatility in the global financial markets and be ready to respond decisively to any ‘black swan’ events that could destabilise the economy.”

Regina Mayor, Global Head of Clients & Markets at KPMG, commented:

“How we get back to sustainable, long-term growth is the big question facing boardrooms and political chambers around the world right now. Some of the biggest inflationary fears – widely predicted late last year – have been mitigated by more direct, pro-active political action geared especially towards getting rising energy prices down. There are also signs that other commodities and food prices are finally starting to ease – helping consumers and business owners who’ve been facing a significant financial squeeze.

“The actions taken over the coming months are likely to play a significant role in the pace and nature of the world’s economic recovery. KPMG’s forecasts show that employment levels should remain robust, even given recent tech layoff announcements – a sign that the tightness of the labour market faced post-pandemic shows little sign of easing. It’s an indication of the complexities the world faces today. Strong employment figures are often held up as an example of buoyant market conditions, but they can also reflect the challenges central banks are facing as they attempt to juggle wage expectations, tightened credit conditions and the ever-present danger that any shift in the conflict in Ukraine could bring inflation back into the mix. The upside of a strong labour market, combined with relatively strong personal savings among consumers – especially in Europe and the Americas – means we could start to see robust consumer spending, driving a return to slow-but-steady domestic growth in key markets.”

Download KPMG’s Global Economic Outlook H1 2023 report at this link.

Hashtag: #KPMG

The issuer is solely responsible for the content of this announcement.

About KPMG Global Economic Outlook

KPMG’s Global Economic Outlook provides bi-annual economic forecasts, produced by macroeconomics teams across KPMG’s global network using a suite of external and in-house models capturing the main inter-relationships in the world economy. As with all forecasts, these are subject to considerable uncertainty and the outturn may differ significantly.

About KPMG International

KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.

KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

About KPMG in Singapore

KPMG in Singapore is part of a global organization of independent professional services firms providing Audit, Tax and Advisory services. We operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

© 2023 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved.

Inflation and supply chain fears easing, but global economy continues to face uncertainty

SINGAPORE – Media OutReach – 27 March 2023 –

  • Sharp falls in inflation to leave behind some of the recent challenges for the global economy.
  • Central banks approaching the end of the tightening cycle partly as a response to recent tensions in the banking system.
  • Easing supply chain pressures and resilient labour markets to support recovery but uncertainty about the outlook remains high.
  • KPMG forecasts world GDP growth of 2.1 percent and inflation at 5.3 percent for 2023

KPMG Global Economic Outlook H1 2023

The outlook for the global economy took a positive turn in the first half of 2023 as inflationary pressures began to ease, but ongoing geopolitical tensions and domestic challenges in key markets are slowing any return to sustained growth, according to the latest forecast from KPMG.

According to KPMG’s latest Global Economic Outlook report, global energy prices returning to levels last seen prior to the invasion of Ukraine, combined with easing commodity and food prices, have helped put further downward pressure on inflation for the rest of 2023.

Despite the positive news, major economies throughout the world – most recently the UK and USA – are facing their own domestic pressures, delaying any hopes of improving market conditions and a drop in inflation. The nuanced, complex picture in each country, region and territory is placing unprecedented pressure on central banks, with worries that core inflation could remain sticky and price rises could become entrenched due to the relatively tight economic environment facing a number of territories. Growing fears for the wider international banking system could further complicate matters for central banks as they weigh in financial stability risks against a plan to bring inflation back to target.

The global organisation is forecasting GDP growth of 2.1 percent in 2023 and 2.6 percent in 2024 with inflation forecast at 5.3 percent in 2023 and 3.2 percent in 2024, and global unemployment levels of 5.2 percent in 2023 and 5.4 percent in 2024.

Yael Selfin, Chief Economist at KPMG in the UK, said:

“Despite the resilience of the labour market and the improving inflation conditions, we expect global economic growth to be relatively modest over the next two years, and to stay below its long-term average. Global growth is expected to be driven by the recovery of the Chinese economy and a relatively strong growth in some of the emerging markets, while Eurozone and the US economy are expected to contribute less to global growth over the next two years. Risks to the outlook are broadly skewed to the downside given the volatility in financial markets.

“The global economy has been through a series of significant shocks over the past three years – the Covid-19 pandemic and the Russia-Ukraine conflict – and saw a major expansion to government debt and a significant hike in policy interest rates by central banks. The ramifications of some of these headwinds may not have surfaced yet and we are still to see their full impact and how they interact.”

With monetary policy focused on moderating inflation while stabilising financial markets, fiscal policy is left as the potential tool to boost economic growth. Unfortunately, the public finances have deteriorated significantly over the past three years. Governments have spent significant amounts on first shielding their economies from Covid-19 and subsequently on protecting households and businesses from higher energy prices. That left public debt at historically elevated levels, with less room for expansionary fiscal policy. Even in the U.S., federal spending is expected to slow despite the ramp up in infrastructure spending, although in China fiscal support is to be stepped up following the reopening of the economy. The rise in interest rates has made these larger debt levels more costly to service, putting further pressure on government finances. Nevertheless, some positive growth momentum is expected this year from the relatively smooth reopening of the Chinese economy following the lifting of Covid-related restrictions in December last year.

The pressure on global supply chains has eased significantly in recent months, while shipping costs have dropped too. This should help alleviate some inflationary pressures and improve supply capacity. Global trade remains relatively weak, although we would expect it to recover this year as trade flows normalise with the reopening of the Chinese economy and a recovery in global growth, while we expect geopolitical tensions to continue to exert some pressure on trade flows over the medium term. Consumer demand is also expected to pick up this year, with excess savings – money saved during the pandemic when spending on certain services was not possible – still relatively high in China and Europe, which could potentially be deployed once confidence returns. Indeed, consumer confidence has started to improve in Europe, although it remains at relatively low levels.

Paul Kent, Partner, Advisory, at KPMG in Singapore, said:

“Singapore stands out as a beacon of hope amid global economic uncertainties. Even as the world faces challenges such as geopolitical tensions and banking crises, Singapore continues to experience steady growth in its economy that is expected to remain notably higher compared with other regions – thanks to strong optimism in the ASEAN region and sustained international investment in the nation. Furthermore, unemployment levels remain low and are expected not to rise significantly this year, highlighting Singapore’s relative resilience in the labour market.

“To ensure that Singapore remains vibrant and competitive economically, businesses across sectors need to focus their efforts on increasing productivity and upskilling their workforce to weather any potential turbulence ahead. Moreover, Singapore must also continue to keep a close pulse on the implications of global developments on inflation and interest rates to ensure that households and businesses remain sufficiently cushioned from the rising costs.

“The good news is that Singapore has in place robust and sound controls to safeguard its financial systems, with overall limited risk and exposure to banks here so far. However, the country will have to tread cautiously amid heightened volatility in the global financial markets and be ready to respond decisively to any ‘black swan’ events that could destabilise the economy.”

Regina Mayor, Global Head of Clients & Markets at KPMG, commented:

“How we get back to sustainable, long-term growth is the big question facing boardrooms and political chambers around the world right now. Some of the biggest inflationary fears – widely predicted late last year – have been mitigated by more direct, pro-active political action geared especially towards getting rising energy prices down. There are also signs that other commodities and food prices are finally starting to ease – helping consumers and business owners who’ve been facing a significant financial squeeze.

“The actions taken over the coming months are likely to play a significant role in the pace and nature of the world’s economic recovery. KPMG’s forecasts show that employment levels should remain robust, even given recent tech layoff announcements – a sign that the tightness of the labour market faced post-pandemic shows little sign of easing. It’s an indication of the complexities the world faces today. Strong employment figures are often held up as an example of buoyant market conditions, but they can also reflect the challenges central banks are facing as they attempt to juggle wage expectations, tightened credit conditions and the ever-present danger that any shift in the conflict in Ukraine could bring inflation back into the mix. The upside of a strong labour market, combined with relatively strong personal savings among consumers – especially in Europe and the Americas – means we could start to see robust consumer spending, driving a return to slow-but-steady domestic growth in key markets.”

Download KPMG’s Global Economic Outlook H1 2023 report at this link.

Hashtag: #KPMG

The issuer is solely responsible for the content of this announcement.

About KPMG Global Economic Outlook

KPMG’s Global Economic Outlook provides bi-annual economic forecasts, produced by macroeconomics teams across KPMG’s global network using a suite of external and in-house models capturing the main inter-relationships in the world economy. As with all forecasts, these are subject to considerable uncertainty and the outturn may differ significantly.

About KPMG International

KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.

KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

About KPMG in Singapore

KPMG in Singapore is part of a global organization of independent professional services firms providing Audit, Tax and Advisory services. We operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

© 2023 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved.

Luang Prabang Reports Hazardous Levels of Air Pollution

Luang Prabang Air Pollution Hazardous, Likely Due to Burning Wood in Rural Areas
A street in Luang Prabang filled with PM 2.5 dust particles (photo: Evensong Film)

The UNSECO World Heritage town of Luang Prabang continues to experience dangerous levels of air pollution, according to a latest AQI report.

ROSEN, SKILLED INVESTOR COUNSEL, Encourages PLDT Inc. Investors With Losses in Excess of $100K to Secure Counsel Before Important April 7 Deadline in Securities Class Action Initiated by the Firm – PHI

New York, New York – Newsfile Corp. – March 25, 2023 – WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of PLDT Inc. (NYSE: PHI) between January 1, 2019 and December 19, 2022, both dates inclusive (the “Class Period”), of the important April 7, 2023 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased PLDT securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the PLDT class action, go to https://rosenlegal.com/submit-form/?case_id=10686 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 7, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) there were capital spending budget overruns; (2) defendants failed to address weaknesses that allowed such budget overruns; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the PLDT class action, go to https://rosenlegal.com/submit-form/?case_id=10686 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

The issuer is solely responsible for the content of this announcement.

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Norfolk Southern Corporation Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – NSC

New York, New York – Newsfile Corp. – March 26, 2023 – WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Norfolk Southern Corporation (NYSE: NSC) between October 28, 2020 and March 3, 2023, both dates inclusive (the “Class Period”), of the important May 15, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Norfolk Southern securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Norfolk class action, go to https://rosenlegal.com/submit-form/?case_id=12322 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 15, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: During the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s Precision Scheduled Railroading (“PSR”), including its use of longer, heavier trains staffed by fewer personnel, had led to the Company suffering increased train derailments and a materially increased risk of future derailments; (2) the Company’s PSR, including its use of longer, heavier trains staffed by fewer personnel, was part of a culture of increased risk-taking at the expense of reasonable safety precautions due to the Company’s near-term focus solely on profits; (3) the Company’s PSR, including its use of longer, heavier trains staffed by fewer personnel, rendered the Company more vulnerable to train derailments and train derailments with potentially more severe human, financial, legal, and environmental consequences; (4) the Company’s capital spending and replacement programs were designed to prioritize profits over the Company’s ability to provide safe, efficient, and reliable rail transportation services; (5) the Company’s lobbying efforts had undermined the Company’s ability to provide safe, efficient, and reliable rail transportation services; (6) the Company’s commitment to reducing operating expenses as part of its PSR goals undermined worker safety and the Company’s purported “commitment to an injury free workplace” because the Company’s PSR plan prioritized reducing expenses through fewer personnel, longer trains, and less spending on safety training, technology, and equipment such as hot bearing wayside detectors (a/k/a “hotboxes”) and acoustic sensors; (7) the Company’s rail services were, as a result of its adoption of PSR principles, more susceptible to accidents that could cause serious economic and bodily harm to the Company, the Company’s workers, the Company’s customers, third parties, and the environment; (8) the Company had failed to put in place responsive practices and procedures to minimize the threat to communities in the event that these communities suffered the derailment of a Norfolk Southern train carrying hazardous and toxic materials; and (9) as a result, defendants’ Class Period statements detailed above regarding the safety of Norfolk Southern’s operations were materially false and/or misleading.

To join the Norfolk Southern class action, go to https://rosenlegal.com/submit-form/?case_id=12322 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

The issuer is solely responsible for the content of this announcement.

ROSEN, SKILLED INVESTOR COUNSEL, Encourages BlockFi Interest Account Investors to Secure Counsel Before Important Deadline in Securities Class Action Against Zac Prince, Flori Marquez, Amit Cheela, David Olsson, and Samia Bayou

New York, New York – Newsfile Corp. – March 26, 2023 – WHY: Rosen Law Firm, a global investor rights law firm, reminds investors in BlockFi Interest Accounts (“BIAs”) between March 4, 2019 and November 28, 2022, inclusive (the “Class Period”), against Zac Prince, Flori Marquez, Amit Cheela, David Olsson, and Samia Bayou (together, “Defendants”), of the important May 1, 2023 lead plaintiff deadline.

SO WHAT: If you invested in BlockFi Interest Accounts (“BIAs”) during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the BlockFi class action, go to https://rosenlegal.com/submit-form/?case_id=12656 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 1, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the Defendants made false and misleading statements to promote BlockFi Interest Accounts (“BIAs”), including that BIAs were a secure method of collecting interest. In addition, the Complaint alleges, among other things, that the defendants omitted and concealed material information concerning the risks associated with BIAs, including through BlockFi’s exposure to FTX Trading, Ltd. (“FTX”) and Sam Bankman-Fried’s trading firm Alameda Research (“Alameda”), both of which collapsed in the wake of revelations that FTX and Alameda were engaging in fraud on a massive scale. In the wake of the FTX collapse, the lawsuit alleges that BlockFi froze withdrawals in BIAs, harming BIA investors. Further, investors in BIAs were not aware of conflicts of interest and self-dealing between BlockFi and other entities, such as Gemini Trust LLC, controlled by Tyler and Cameron Winklevoss. The Complaint further alleges BlockFi and the Individual Defendants engaged in the unlawful offer and sale of securities in violation of Sections 5, 11, 12(a)(2), and 15 of the Securities Act of 1933 by selling BIAs to investors. The lawsuit also alleges claims for violation of Section 10(b) and 20 of the Securities Exchange Act of 1934 and Massachusetts General Law Chapter 110A.

To join the BlockFi class action, go to https://rosenlegal.com/submit-form/?case_id=12656 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

The issuer is solely responsible for the content of this announcement.