#Imperial Telecom

[warningsine]

https://www.reuters.com/world/japan/magnitude-74-earthquake-strikes-japan-tsunami-warning-issued-2024-01-01/

TOKYO, Jan 1 (Reuters) - A powerful earthquake struck central Japan on Monday, killing at least one person, destroying buildings, knocking out power to tens of thousands of homes and prompting residents in some coastal areas to flee to higher ground.

The quake with a preliminary magnitude of 7.6 triggered waves of about 1 metre along Japan's west coast and neighbouring South Korea, with authorities saying larger waves could follow.

The Japan Meteorological Agency (JMA) issued tsunami warnings for the prefectures of Ishikawa, Niigata and Toyama.

A major tsunami warning - the first since the March 2011 earthquake and tsunami that struck northeastern Japan - was issued for Ishikawa but was later downgraded and eventually cut to an advisory, meaning waves up to 1 metre (3 foot) high could be expected.

It was the strongest quake in the region in more than four decades, according to the U.S. Geological Survey.

Russia and North Korea also issued tsunami warnings for some areas.

Houses were destroyed, fires broke out and army personnel were dispatched to help with rescue operations, government spokesperson Yoshimasa Hayashi told reporters.

One elderly man was pronounced dead after a building collapse in Shika Town in Ishikawa, broadcaster NTV reported citing local police.

"The snow from the electric wire (came) down, and also from the roof it fell down and all the cars are shaking, and so everybody was panicked," Jonny Wu, a Taiwanese tourist visiting nearby Nagano prefecture for a skiing holiday, told Reuters.

Japanese Prime Minister Fumio Kishida told reporters he had instructed search and rescue teams to do everything possible to save lives, even though access to quake-hit areas was difficult due to blocked roads.

More strong quakes in the area, where seismic activity has been simmering for more than three years, could occur over coming days, JMA official Toshihiro Shimoyama said.

The government said that as of Monday night it had ordered more than 97,000 people in nine prefectures on the western coast of Japan's main island Honshu to evacuate.

In comments to the press shortly after the quake struck, Kishida also warned residents to prepare for more disasters.

"I urge people in areas where tsunamis are expected to evacuate as soon as possible," Kishida said.

The Imperial Household Agency said that following the disaster it would cancel Emperor Naruhito and Empress Masako's slated New Year appearance on Tuesday.A magnitude 7.6 earthquake struck in Ishikawa prefecture in central Japan on Monday

'TSUNAMI! EVACUATE!'

Following the quake, a bright yellow message reading "Tsunami! Evacuate!" flashed across television screens advising residents in specific areas of the coast to immediately evacuate.

Local media footage showed a building collapsing in a plume of dust in the city of Suzu and a huge crack in a road in Wajima where panicked-looking parents clutched their children.

There were reports of at least 30 collapsed buildings in Wajima, a town of around 30,000 known for its lacquerware, and fire engulfed several buildings.

The quake also jolted buildings in the capital Tokyo, some 500 km from Wajima on the opposite coast.

Almost 32,000 households were still without power in Ishikawa prefecture late on Monday, according to utilities provider Hokuriku Electric Power (9505.T), with temperatures set to drop to near freezing overnight in some areas.

Tohoku Electric Power (9506.T) said 700 households remained without power in neighbouring Niigata prefecture.

Telecoms operators also reported phone and internet outages in some areas.

Forty train lines and two high-speed rail services to the quake-hit area halted operations, while six expressways were closed and one of Ishikawa's airports was forced to shut due to a crack in the runway, transport authorities said.

Japanese airline ANA (9202.T) turned back planes headed to airports in Toyama and Ishikawa, while Japan Airlines (9201.T) cancelled most of its services to the Niigata and Ishikawa regions.

NUCLEAR PLANTS

The quake comes at a sensitive time for Japan's nuclear industry, which has faced fierce opposition from some locals since a 2011 earthquake and tsunami triggered nuclear meltdowns in Fukushima. Nearly 20,000 people were killed and whole towns devastated in the disaster.

Japan last week lifted an operational ban imposed on the world's biggest nuclear plant, Kashiwazaki-Kariwa, which has been offline since the 2011 tsunami.

Japan’s Nuclear Regulation Authority said no irregularities have been confirmed at nuclear power plants along the Sea of Japan, including five active reactors at Kansai Electric Power’s (9503.T) Ohi and Takahama plants in Fukui Prefecture.

Hokuriku's Shika plant in Ishikawa, the closest nuclear power station to the epicentre, had already halted its two reactors before the quake for regular inspections and saw no impact from the quake, the agency said.

Monday's quake struck during the Jan. 1 public holiday when millions of Japanese traditionally visit temples to mark the new year.

In Kanazawa, a popular tourist destination in Ishikawa, images showed the remnants of a shattered stone gate strewn at the entrance of a shrine as anxious worshippers looked on.

Kanazawa resident Ayako Daikai said she had evacuated to a nearby elementary school with her husband and two children soon after the earthquake hit. Classrooms, stairwells, hallways and the gymnasium were all packed with evacuees, she said.

"We haven't decided when to return home yet," she told Reuters when contacted by telephone.

[imperialtelecom]

Imperial Telecom is a leading UK based  telecommunication and Broadband Service Provider. We provide Imperial homephone and broadband services in UK. We provide one of the fastest internet service in UK providing broadband connection, leased line, VoIP services to home and business users. Visit our website for more details.

[blacklionroars]

Thank you Ajit @blacklionroars

[empiredesimparte]

P.O.V Louis | Château de Meudon, 15 Thermidor An 229

Beginning ▬ Previous ▬ Next

The reception was in full swing, with the entire administrative board of the Polytechnic School present. President L'Abbé presented Prince Louis and Princess Hortense with custom-made uniforms from the school. Prince Louis discusses with the president to try to appreciate the school, in vain.

Transcript and French translation below

(The two school uniforms are a re-colouring of @melonsloth and @waxesnostalgic, thank you for your fabulous cc <3)

TRANSCRIPT

(L’ABBÉ) This is a splendid reception, my Lord (LOUIS, thanks) Mr President. It must be a great honour to head such a prestigious school. (L’ABBÉ) Yes, Your Imperial Highness, it was His Majesty your father who appointed me to there three years ago. (LOUIS) I see... What did you do before this appointment? (L’ABBÉ) I worked - and still work - for Francesim Telecom, my Lord. (LOUIS) Engineer at Telecom? That must be an interesting job, Father (L’ABBÉ) Thank you, Your Imperial Highness

FRENCH TRANSLATION

La réception bat son plein, tout le conseil administratif de l'école Polytechnique est présente. Le président L'Abbé a offert au prince Louis et la princesse Hortense des uniformes de l'école, taillés sur mesure. Le prince Louis discute avec le président pour tenter d'apprécier l'école, en vain.

(L’ABBÉ) C'est une splendide réception Monseigneur (LOUIS, remercie) Monsieur le Président. Ce doit être un grand honneur de diriger une école aussi prestigieuse. (L’ABBÉ) Oui Votre Altesse Impériale, c'est Sa Majesté votre père qui m'a nommé au poste il y a trois ans de cela (LOUIS) Je vois... Que faisiez vous avant cette nomination ? (L’ABBÉ) Je travaillais - et travaille toujours - pour Francesim Telecom, Monseigneur. (LOUIS) Ingénieur à Telecom ? Ce doit être un travail intéressant Monsieur l'Abbé (L'ABBÉ) Merci, Votre Altesse Impériale

[harrelltut]

Lo!... JEHOVAH OKCULT BIBLE [JOB] WITNESS [JW] STADT COBURG's 1968 [VI]... 6G Quantum HARRELL Tech [QHT] MILITARY Intel [MI = MICHAEL] Psychology of SIRIUS Electromagnetic Airwave [SEA] Light Mechanics [ELECTRICITY] ILLUMINATING ANU GOLDEN Immortal 9 [i9] Ether ALUHUM ANUNNAQI PEOPLES of SIRIUS Astronomically Intelligent ANUNNAGI [AIA = AMÚN] SUN GOD [RA] MEMORY [RAMESES] Intuition Quantified [IQ] ONLINE by Mathematically Accessing Complex [MAC] CLOUD Encryption Network Mechanics of ENQI [ME] NUDIMMUD's Highly Complex [ADVANCED] Ancient AUTOMATED Telecom Tower [AT&T] Structures on MURDUK’s Mysteriously UNSEEN [MU] Intergalactic [MI = MICHAEL] 9th Dimensional BLACK SOLAR SUN [SUL = SOUL] Compu_TAH [PTAH] MOTHERSHIP [PM = PTOLEMY] PLANET NIBIRU… ABOVE the RIZQIYIAN’s [NAR = NARMER's] Most Darkest [Occulted] GOLDEN SUN_KING [Sunken] Pacific Subterranean Ocean [PSO] Island STATE of Queen CALAFIA [CA]

ENQI [ME] NUDIMMUD MU:13

EYE ANU A’LYUN A’LYUN EL FROM SPACESHIP ATLANTIS

INTROSPECTIVE MEMORY [I’M] SCIENCES OF ANU WORLD WORK SYSTEM

EYE SELF DISCIPLINED MYSELF 2 HANDLE MY FAMILY’S GLOBAL EMPIRE [G.E.] BUSINESSES

EYE FOUND ANU 9 ETHER 6G QUANTUM ATLANTIS ECONOMY

EYE SELF CORRECTED MYSELF 2 HANDLE MY FAMILY’S GLOBAL EMPIRE [G.E.] BUSINESSES

6G QUANTUM HARRELL TELECOM [QHT] PATENTS & LICENSES  

ÆGIPTIAN QHT Imperial [Qi] Retinue of Specialists and Administrators

Ancient 9 Ether DNA UPGRADE

9 ETHER RIZQIYIAN IGIGI TECHNOCRATS 

EYE 1968 [VI]... 6G QUANTUM INTEL [QI] CLOUD COMPUTING ARCHITECTURE [CA]

EYE 9 ETHER GEN X IGIGI SKY DOME MILITARY ABOVE CALIFORNIA [MAC]

EYE FOUND MUUR 9 ETHER LEMURIAN [EL] LAND OF ATLANTIS [L.A.]

WE HERE

ORIGINAL GOLDEN BLACK SUN CALIFIAN PEOPLES OF SUBTERRANEAN EARTH QUEEN CALAFIA

WE THAT GOLDEN QHT 68 UFO IN SAN [U.S.] DIEGO

GOLD DISTRICTS BOOK OF ENQI [ME] NUDIMMUD

GOLD GOLD GOLD!!!

eye come in stability, peace, preparedness & prosperity

eye come in stability, peace, preparedness & prosperity

ANU GOLDEN 9 ETHER Public Service Company of Oklahoma [PSO]

EYE SELF CORRECT MY PERFECTLY FLAWED HABITS INTO TOUGH LOVE LESSONS AT MY EXPENSE… UNDERGROUND MU:13 MILITARY SCHOOL OF HARD KNOCKS

[mostlysignssomeportents]

Trustbusting is stimulus

Antitrust enforcement is virtually a dead letter in America (it was killed 40 years ago by Reagan's court sorcerer Robert Bork, better known as the Nixonite criminal who couldn't get approved for a SCOTUS seat).

But even when we WERE enforcing antitrust, we tended to pump the brakes during economic crises: no one wants to put additional constraints on business during a downturn.

That's wrong. Antitrust enforcement isn't an economic drag, it's an economic STIMULUS.

https://promarket.org/2020/10/19/antitrust-as-economic-stimulus-competition-help-workers/

Monopolies extract higher profits by crushing workers and small competitors, but workers and small businesses spend their earnings back into the economy.

Monopolist's shareholders, on the other hand, tend to bank their winnings, or spend it on items with small multipliers like superyachts and fractional shares in rare artworks shuttered in climate-controlled containers in Swiss freeports.

By contrast, workers buy groceries, pay contractors to fix their roofs, or buy braces for their kids. That money recirculates in the communities in which it is earned, multiplying itself over and over again.

Writing in Promarket, Hal Singer and Marshall Steinbaum present us with some contrafactuals:

"Rather than having one tech giant controlling social media and the associated advertising, imagine we had 10: Assuming the same revenues, it is not a stretch to conclude industry-wide spending on R&D and labor under the decentralized configuration would be larger."

And they propose ways that the state can intervene before monopolies emerge, to prevent them from leveraging early wins into stagnating, strangulating dominance.

Example: Tesla is set to corner the market on EVs in part via its national network of superchargers. So invest in public chargers, which can be privately operated by entities not affiliated with any manufacturer, "so Tesla’s nascent rivals can compete in the short run."

But instead of securing the stimulus effect of competition, Congress and the Trump admin are sitting by idly as giant firms spend their stimulus money colluding to REDUCE competition (like Jetblue and AA announcing a "marketing partnership" with their bailout money).

Without antimonopoly vigilance, downturns become bonanzas of anticompetitive takeovers: all the small companies that are tipped into precarity by the crisis can be bought for pennies on the dollar by dominant firms, further cementing their dominance.

It's time to guillotine Borkism and its idiotic, plute-friendly doctrine of permitting monopolistic conduct unless it results in immediate, impossible-to-prove "consumer harm."

Not only has Borkism been shown to be a catastrophic failure, it is a failure that is especially dangerous during this crisis. This is the moment at which America needs firms to thrive by doing things that make us all better off - not by choking their competitors.

The last time the DoJ did any real antitrust was in 1982, when they broke up AT&T. At the time, Borkists warned that DoJ was handing a gift to the Japanese tech industry, which they characterized as sinister copycats descended from the fascist enterprises of Imperial Japan.

They said that America needed AT&T as a "national champion" to defend itself against this pretender half a world away. Today, we hear the same arguments about Big Tech antitrust and the Chinese tech companies.

But breaking up AT&T in 1982 was the best thing that could have happened to America. AT&T's core project in 1982 wasn't fighting Japanese electronics companies: it was suppressing the growth of the internet in the USA, to preserve its monopoly on telecoms.

AT&T's business model was controlling all the services available on the network and charging money for every "feature" your phone came with. Not just charging farcical markups for long-distance...remember when you had to pay for "caller ID"?

That's the equivalent of your email provider charging extra to see who a message comes from before you open and read it! AT&T's stranglehold over telecoms let it nickel-and-dime Americans for every "feature" of the system.

The internet moved control over services to the edge of the network - the programs running on the computers in users' homes (and later, pockets). It annihilated the a-la-carte grift of Ma Bell and jumpstarted a new, US-dominanted form of global soft power.

In other words, breaking up America's "national champion" in '82 allowed all the current Big Tech companies - the new national champions that Borkists say we mustn't break up - to come into existence and grow.

Imagine how many brilliant ideas, products and services the current Big Tech companies are strangling!

After the Bell breakup, the DoJ entered its 40 year hibernation, sleeping through AT&T's re-acquisition of the "Baby Bells," which resurrected the telecoms octopus.

The DoJ has announced new antitrust action against Google, a long overdue move that will doubtless lead to antitrust enforcement against other dominant firms in tech and other industries (do AT&T next!). But the DoJ complaint focuses on Borkean "consumer harm."

It's time to jettison "consumer harm." The reason to fight monopolies is that they MONOPOLIZE. They crush workers and small rivals, and pervert regulation and law. They enrich wealthy shareholders at the expense of the rest of us.

Monopolies should be killed because they are MONOPOLIES.

[cursed-40k-thoughts]

Okay, time for a real question for the 40K worlds.. are people still getting spam mail from annoying people?

In the fifteenth millennium, Telstra, British Telecom and Comcast merged into a wealthy but still shit uber corporation whose sole purpose was to distribute mediocre internet speeds to the entirety of humanity. During the start of the twentieth millennium, they were taken over by the Adeptus Mechanicus, who promptly dismantled the WiFi elements of the conglomerate, but made sure to store everyone’s email addresses, bank account numbers and places of residency.

Skip to the current timeline, and no Imperial Citizen living OR dead is able to escape the veritable landslide of real and electronic mail, all themed around praising the Omnissiah, sent to them at multiple points throughout the day.

[revive-turtle-island-now]

The U.S. financial cartel is paying off Ecuador to ban Chinese telecoms and calling it "development."

While China never attaches ideological or geopolitical conditions to its lending, U.S. "development" money means toeing the imperial line.

[theculturedmarxist]

       22 July 2019  

Today marks the 75th anniversary of the conclusion of the Bretton Woods conference, which played a key role in laying the foundations for the restabilisation of the world capitalist economy after the devastation of two world wars and the Great Depression of the 1930s, thereby opening the way for the post-war capitalist boom.

Three quarters of a century on, the world capitalist system faces an eruption of the very disasters that shook it to its foundations and gave rise to revolutionary struggles by the working class, beginning with the October 1917 revolution in Russia.

The participants at the conference, the representatives of the allied powers still engaged in the final stages of the war against Germany and Japan, were acutely conscious that what was at stake in their deliberations to establish a new world economic order was nothing less than the survival of their rule.

Speaking at the conclusion of the meeting, US Treasury Secretary Henry Morgenthau summed up its conclusions: “We have come to recognise that the wisest and most effective way to protect our national interest is through international cooperation—that is to say, through the united effort for the attainment of common goals.”

The fears driving this orientation were articulated in March 1945 in an address to Congress by US Under Secretary of State for Economic Affairs William Clayton. Directing his remarks against the advocates of high tariffs, he warned that “world peace will always be gravely jeopardised by the kind of international economic warfare which was waged so bitterly between the two world wars,” and that “democracy and free enterprise will not survive another world war.”

That precisely describes the road on which the world is now headed—deepening economic conflict and war spearheaded by US imperialism under the presidency of Donald Trump.

In his inaugural address, Trump declared: “We must protect our borders from the ravages of other countries making our products, stealing our companies and destroying our jobs. Protection will lead to great prosperity and strength.” In the more than two years since, the US has carried out escalating economic warfare, hitting out at allies and rivals alike as it imposes tariffs or threatens them in the name of “national security.”

But no one should succumb to the illusion that the very policies the architects of the Bretton Woods agreement warned would lead to a catastrophe are simply the product of the Trump White House. In fact, the Democrats are even more bellicose. They have given their support to a resolution directed against the Chinese telecom giant Huawei that would prevent Trump, as part of any trade deal, lifting the crippling US sanctions imposed on it.

This bipartisan support points to the fact that the escalating trade war and the threat of world war are not the product of the psychology or mindset of a particular group of capitalist politicians that can be overcome by some kind of “course correction.” Rather, these processes are rooted in the deep-seated and intractable crisis of US imperialism, itself the product of the historical evolution of the world capitalist system in the three quarters of a century since Bretton Woods.

There were two key pillars of the Bretton Woods Agreement, one political and the other economic.

The political foundation, which made it possible for the leaders of world capitalism to come together to construct a new world economic order, was the betrayal by the Stalinist bureaucracy in the Soviet Union and the Stalinist Communist Parties around the world of the revolutionary struggles of the working class that had erupted in the 1920s and 1930s, and the renewed anti-capitalist struggles of workers throughout Europe and in much of Asia that were erupting as the war hurtled toward its bloody conclusion.

In the lead-up to the war, the Stalinist program of the popular front—an alliance with supposed democratic sections of the ruling classes—had led to the betrayal of the French working class in 1936 and the beheading of the Spanish working class in the civil war of 1936-39. The Stalinist bureaucracy, which had emerged as a result of defeats suffered by the European working class and the resulting isolation of the first workers’ state after the 1917 revolution, was now the chief prop of world imperialism.

In 1943, the Stalinist bureaucracy gave its guarantee to world imperialism of the role it would play in the post-war world when it dissolved the Communist International. This was underscored at the Yalta summit in February 1945 with British Prime Minister Churchill and US President Roosevelt. Stalin made it clear that the Soviet Union would support the return of capitalist governments in Western Europe after the war—a pledge that was honoured when the Stalinist parties entered bourgeois governments in France and Italy after the defeat of the Nazis and suppressed the drive of the working class for socialist revolution.

The economic foundation was the strength of US capitalism, whose industrial capacities had grown in the course of the war to such an extent that by 1945 it accounted for some 50 percent of world manufacturing.

Having secured the collaboration of the Stalinist parties, which enjoyed mass support in the working class because they were mistakenly seen as the continuators of the October Revolution and because of the pivotal role of the Red Army in defeating Nazi Germany, the US was able to use its economic strength to reconstruct world capitalism.

It did so, however, not out of altruism, but because the restabilization of capitalism in war-devastated Europe and Asia suited the interests of American imperialism. It was recognised in US ruling circles that if Europe and the rest of the world were returned to the conditions of the 1930s, the American economy, dependent on an expansion of the world market, would face disaster, and, notwithstanding the political role of Stalinism, the outcome would be the eruption of revolutionary struggles in Europe and the US itself.

From the outbreak of World War 1 in 1914, the Marxist movement had analysed that the eruption of global war was the outcome of the contradiction between the development of world economy and the division of the world into rival nation-states, which gave rise to ever more violent conflicts among the imperialist powers. Defending their own interests, involving centrally the struggle for markets, profits and resources, each of these powers sought to resolve the contradiction between world economy and the nation-state by establishing itself as the pre-eminent world power, leading to a war of each against all.

This contradiction found expression in the Bretton Woods monetary system, which was intended to minimize conflicts among the major capitalist powers. Defending the interests of British imperialism, economist John Maynard Keynes proposed the establishment of an international currency, the “bancor,” to finance global trade and investment transactions. The essence of the Keynes plan was to make the US subject to the same discipline as the other major powers, thereby lessening its dominance.

The “bancor” plan was flatly rejected and the US dollar was made the basis of a refashioned international monetary system. For all the rhetoric about the need for international collaboration, American hegemony was enshrined in the Bretton Woods agreement. The only constraint was that the dollar was to be exchangeable for gold at the rate of $35 per ounce.

The contradiction between world economy and the national system was not overcome, but only suppressed, under the Bretton Woods system. It would come to the surface again.

The Bretton Woods monetary agreement, together with other measures such as the General Agreement on Tariffs and Trade and the reconstruction of the world economy through the use of more advanced American production technologies, gave rise to an economic expansion in all the major capitalist economies. During the ensuing post-war boom, the conventional wisdom was that capitalism had overcome the disasters of the previous half-century and the global economy could be successfully managed.

But the Bretton Woods monetary system contained an inherent contradiction. The more it promoted the expansion of the world market and the development of other capitalist economies—Germany, France, the UK and Japan—the more it undermined both the relative and absolute economic supremacy of the US on which the system was based.

This contradiction, which had already been identified by the early 1960s, exploded to the surface on August 15, 1971, when President Nixon, faced with a gold drain, unilaterally announced in a Sunday night television broadcast that henceforth the US would not redeem dollars for gold.

Nixon’s actions—which also included a wage freeze on US workers and a 10 percent surcharge on imports—were aimed at maintaining the dominance of American imperialism over the world economy and its financial system. But the decline of US economic supremacy, both relative and absolute, only accelerated in the ensuing years. The establishment of a fiat currency, freed from backing by gold, was one of the major factors in the rise and rise of finance capital over the past four decades.

The US pre-eminence in industrial production steadily eroded, to the extent that it now ranks behind both China and the European Union, and profit accumulation has become increasingly dependent on speculation and financial market operations.

The case of Huawei—one of the key targets of the Trump administration and the American military and intelligence establishment—is a graphic expression of this process. It has been targeted because it is on the front line of the development of 5G mobile phone technology, which will have a major impact on the development of industrial capacity via the internet.

Huawei is now deemed an existential threat to a country that pioneered vast advances in technology going back to the latter years of the 19th century, because there is no comparable US firm. The reason for this absence is that profit-making in the US has become increasingly dependent on short-term gains and financial manipulations at the expense investment and the development of the productive forces.

Three quarters of a century after the Bretton Woods Agreement, all the contradictions of the world capitalist system it sought to suppress have come bursting to the surface once again. They assume their most explosive form in the drive by US imperialism to reassert its hegemony by implementing the kind of tariff and protectionist measures that gave rise to the disasters of the 1930s, now augmented by technology bans, as well as by means of war.

The issue confronting the world working class is that set out by Leon Trotsky in the early years of the imperialist epoch, with the outbreak of World War 1. In 1915, he wrote that the perspective of world socialist revolution and the socialist organisation of economy had to become the practical program of the day guiding the struggles of the working class. That analysis is truer than ever as the contradictions of the capitalist system drive towards another world conflagration.

Nick Beams

[zenosanalytic]

I’d argue the invasion of Ukraine isn’t terribly practical either.

Here’s the thing: Russia was Ukraine’s main trading partner. For purely geopolitical(how geography and societies intersect) reasons, Ukraine has lots of strong incentives to pursue good relations with Russia -Russia provides most of its gas, buys lots of its agricultural products, has need of its ports in Crimea which is a good source of revenue, Soviet denationalization and resettlement policies after WWII mean there are lots of familial ties btwn Russia and Ukraine, its a close and much larger commercial market- and since its independence it HAD pursued such. Given where it is, and their proximity, and Russia’s control of all ground and air paths east, and their relative sizes(Ukraine’s big dont get me wrong, but Russia’s MUCH Bigger), Ukraine really didn’t have any CHOICE.

Then resurgent imperialism in Moscow began to become a threat to Ukrainian independence. Putin tried to assassinate a Ukrainian politician in 2004. Then Moscow began funding VIOLENT(like: blowing shit up and having shootouts in the streets, violent)Russian-nationalist groups in Crimea and the eastern border provinces. With Moscow’s protection and funding these groups became the seeds for a(just as violent) Russian-separatist political movement. Then Putin began funding and promoting(not just ‘putting on official government media’ but ‘giving official government positions to’) Russian historians who produced ~scholarship~ denying things like... the soviet-caused famine of 1932(the Holodomor), and that ‘Ukrainian history’ exists at all. Then Russian attacks upon internet and telecom infrastructure in Ukraine started becoming more and more common. Then Russia started using its control of the gas-flow into Ukraine to pressure the Ukrainian government. Then Russia started funding Ukrainian political figures and parties. Then, in 2014, Russia straightup invaded Crimea and two eastern Provinces after a corrupt and increasingly oppressive President backed by Putin was ousted. All of this stuff alienated Ukraine from a positive relationship with Russia which they had every practical and objective reason to pursue otherwise and no ‘just-as-good’ alternative(while the specifics are much different, the dynamic between the US and Cuba is quite similar; Cuba would comfortably fit in the US’s orbit if not for the US’s endless counter-productive hostility towards it)

There’s allot of talk in left-internet spaces right now about how “Western”(US, EU, NATO) moves have “forced Putin” to invade Ukraine, but what allot of this talk ignores is all this recent history I just summarized up here. Ukraine did not begin pursuing a closer relationship with NATO in a vacuum. Yanukovych(the pres who would later be ousted) was elected on a neutrality ticket; for the first two years of his presidency he pursued a balanced relationship btwn Russia and the EU, and his party was widely popular for doing so. Yanukovych and the Party of the Regions did not become toxic in Ukrainian politics until it started caving to pressure to reject EU integration and pursue an explicitly pro-Moscow line. What soured Ukraine on Russia, and what made Ukraine begin to seriously pursue NATO membership was Russia’s own aggression towards Ukraine.

And this is why that aggression fails as an example of realpolitik. Ukraine was ALREADY in Russia’s orbit; ALREADY friendly to Russia; ALREADY solicitous to Russia’s security demands; and Russia could ALREADY get WHATEVER IT WANTED from Ukraine through peaceful, mutually-beneficial negotiation. The PEOPLE of Ukraine -even WITH the Famine denialism!- were largely friendly to Russia(you can even see this today in how Ukrainian civilians are interacting with Russian troops screwed over by Moscow’s poor planning). At every step of this history, Russian aggression and egotism has COST IT objectives it had already achieved in Ukraine peacefully. Far from securing Russia this aggression has made it LESS secure; far from expanding its influence and authority it has isolated Moscow even more. The current Russian invasion of Ukraine is a classic dog-and-his-bone situation, where a State-Actor gives up something good it already has and wants in pursuit of the Spectre of “More”.

Hey so real quick -

I know a lot of you are young. This might be the first time you remember seeing a war break out. So I want to just give you a useful concept for thinking about this and talking about it over the next few weeks, in case you aren't already familiar with it. That concept realpolitik.

It's a German word that means "practical politics" (pronounced "ree-AHL pol-uh-TEEK"). What it means might be intuitively obvious, but I think it's really helpful to have it in your back pocket as a concrete, widely-understood bit of terminology, because it can help you avoid confusion when you are talking about the crisis in Ukraine, or listening to other people talk about the crisis in Ukraine.

Realpolitik is a political and diplomatic concept that distinguishes actions taken by nations for ethical reasons from actions taken by nations for practical reasons. That distinction - the existence of that distinction that is invoked by bringing up realpolitik - is really important in an online atmosphere where the two are often conflated out of bad faith, virtue signaling, or hysteria.

What I mean by that is: it is not a contradiction to say "the invasion of Ukraine is wrong" and "the invasion of Ukraine makes sense." One is an ethical analysis of the situation; the other is realpolitik.

And you're going to see a lot of people having both kinds of conversations in the coming days. And it's important to remember that both are worth having. It is, of course, very important to emphasize the horror and unfairness of this unjust and inhumane invasion. It is, also, very important to be able to set that aside, and discuss the pragmatic causes and results of that invasion.

It is normal and sane to be upset and emotional right now. But before you get upset at something you read for sounding bloodless - or, worse, heartless - I want you to be able to ask yourself: is this a conversation about morality, or is this a conversation about realpolitik?

We are going to need both to understand what's happening right now and what we should do about it going forward.

[fffbtyrtyu]

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회원가입없이 무료영화 다운로드 사이트

회원가입없이 무료영화 다운로드 사이트

회원가입없이 무료영화 다운로드 사이트

회원가입없이 무료영화 다운로드 사이트

Sejong Special Self-governing City, Sejong Science Base, Sejong-ro, Sejong Institute, Sejong University, Sejong Telecom, etc., have many proper nouns named after Sejong. It seems that the symbolism of the name itself is enormous and it is appropriate to write it in Latin letters. Incheon International Airport w회원가입없이 무료영화 다운로드 사이트as also originally intended to be named Sejong International Airport, but it was canceled due to opposition from local public opinion in Incheon. There is a record that King Taejong allowed King Sejong to eat meat when he was dying. However, this w회원가입없이 무료영화 다운로드 사이트as not allowed simply because Sejong liked meat. Originally, the Confucian funeral culture is very harsh. When the father dies and pays a three-year mourning, he has to wear cotton clothes, eat three meals a day, and sing along with the news. Therefore, most of these funeral procedures were simplified to a few days. However, since Taejong had an intuition that King Sejong, who was deeply filial, would pay his three-y회원가입없이 무료영화 다운로드 사이트ear funeral according to the standard[61], the fact that he left a will that allowed meat to be eaten during the mourning meant that he should place more importance on taking care of state affairs in a healthy way than his own funeral. was Seeing that King Munjong, a son who looked just like King Sejong, passed away at an early age after paying a three-year funeral in a row, this can be seen as King Taejong's keen consideration.[62] In North Korea, King Sejong's invention of Hunminjeongeum is fundamentally based on his domination ov회원가입없이 무료영화 다운로드 사이트er the people, and the feudal exploitation of the people during the reign of King Sejong was evaluated negatively. Surprisingly, this view is similar to that of Japanese anti-Koreans and colonial modernization scholars such as New Light and Lee Young-hoon. It may be surprising, but it is not su회원가입없이 무료영화 다운로드 사이트rprising that their interpretations are unexpectedly similar when you trace back to the roots of the New Rights.[63] The objection to this is in the document. According to the records in the Annals of the Joseon Dynasty, they are the only two kings whose myoho were notified to the Ming Dynasty along with his son, Munjong. Originally, when Joseon interacted with the Ming and Qing dynasties, only the posthumous names received from the Chinese dynasties were used instead of the names of Taejo and Seongjong. This회원가입없이 무료영화 다운로드 사이트 was because myoho was basically a etiquette used only in the imperial kingdom. However, when King Munjong died, he openly announced to the Ming Dynasty that "My king's myoho was named Munjong, and the previous king's myohoho was Sejong." However, seeing as nothing like this has happened since then, it seems that there was something diplomatically problematic. Various scientific instruments made during the reign of King Sejong were excavated in large numbers at th회원가입없이 무료영화 다운로드 사이트e entrance of Pimatgol, 79 Insa-dong, Jongno-gu, Seoul on June 1, 2021, which is expected to be a major opportunity to demonstrate the history of science in Joseon. In particular, the Ilseong Jeongshi (日星定時儀), a complex clock that turns into a sundial during the day and a star clock at night, and a jujeon (籌箭), a bead ejection device for a water clock, were also discovered for the first time in real life, which greatly 회원가입없이 무료영화 다운로드 사이트contributed to the accurate restoration of related artifacts. It is expected that this will be Day and night clock that King Sejong saw… wake up in the ground He was the first king of the Joseon Dynasty to be honored for life during his reign. The previous kings, Taejo, Jeongjong, and Taejong, respectively, died after abdicating the throne.

Quote[edit] “Our language is different from that of China and does not communicate with Chinese characters. For this reason, there are many people who are unable회원가입없이 무료영화 다운로드 사이트 to express their intentions despite what foolish people want to achieve. I just want to be comfortable with it." Preface to 《Hunminjeongeum Eonhae》 "He was not a king based on genealogy. He was not the king of the Jeonju Lee clan, but a king given by heaven. He made Jeongeum and all the books written for the sake of the people. He really worried about the nation and really worried about life. Confucius praised Guanzhong's histo회원가입없이 무료영화 다운로드 사이트rical contributions and said, "If it weren't for this person, I would have become a barbarian!" If only they were there, I really wouldn't have been able to avoid the beast." Ham Seok-heon

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[harrelltut]

Lo!… JEHOVAH OKCULT BIBLE [JOB] WITNESS Me [ME = U.S. Michael Harrell = TUT = JAH] on Earth [JE = JESÚS = ELOHEEM TAMMUZ] E.T. from 1968 [VI] @ My Highly Classified… 1921 [IV] U.S. Ægyptian QUANTUM HARRELL TEMPLE [QHT] in 2022 [VI] San Diego County [D.C.]… Strategically Orchestrating Highly Official… U.S. 9 Ether NEW WORLD ORDER [NWO] WAR EVENTS [WE] in Lost 2022 [VI] America… since My Highly Classified… 1921 [IV] U.S. Ægyptian QUANTUM HARRELL TECH [QHT] MILITARY in 2022 [VI] San Diego County [D.C.]… Genealogically + Geologically Found MANSA MUSA's Highly Official… 1340 [VIII] Clandestine U.S. American [USA] Ægyptian GOVERNMENT RECORDS of Lost [Antediluvian] 1680 [VI]… 9 Ether MU American [MA = ATLANTEAN] BLACK SOLAR SUN [SUL] FAMILY LAND PATENTS from MANSA MUSA’s Interplanetary [MI = MICHAEL] 1340 [VIII] DOGON SPIRIT PEOPLE [NOMMO]… who Immaculately MATERIALIZE [I’M] GOLD from Our InterDimensional [I.D.] 9 Ether SPIRITUAL GOD DREAM STATES... Underneath the Subterranean [U.S.] GULF STATES of QUETZALCÓATL’s Intergalactic [Qi]… 9 Ether ETHERIAN SKY HEAVENS of Astronomical [HA = HARRELL] JUPITER's [ZEUS’]... Astronomically Intelligent ANUNNAKI [AIA = AMÚN] SUN GOD [RA] MASTERS [RAM = RAMESES] from the ZU TRIBE's [ZULUS’]... Mysteriously UNIQUE [MU]… 9 Ether ALUHUM MIDIAN Israelite [MI = MICHAEL] Nations of OLD KINGDOM [NOK] MEXICO RELIGIONS of MESOAMÉRICA's Biblically Ancient [BABYLONIAN] BLACK SOLAR SUN [SUL] ROYAL… U.S. Ancient [USA = PREDYNASTIC] 9 Ether OLIGARCH METHUSELAH… who Legally & Logistically CERTIFIED [LLC] MESOPOTAMIA’s… Highly Official...U.S. Ægyptian MILITARY Michael Harrell [iTUT®] SOVEREIGN… Generationally GRANDFATHERED Under Ægyptian RAMESES’ Highly Classified… 1921 [IV] U.S. Ægyptian QUANTUM HARRELL TECH [QHT] MILITARY ACADEMY PROTECTION [MAP] LAWS… Officially Granting [LOG] Me [ME = U.S. Michael Harrell = TUT = JAH] w/Universally SOVEREIGN [U.S. = UNTOUCHABLE] BLACK GOLD ELITE [G.E.] STATUS on TIAMAT's GOLDEN 9 Ether OIL & DIATOMACEOUS MINERAL Earth [ME] Kingdom w/A Highly Complex [ADVANCED] Ancient Cosmic Algorithmic [CA] Computational [Compton] STAR Compu_TAH [PTAH] MENTAL of Astronomical Calculation [MAC] Intelligence [MI = MICHAEL] of Ægyptian [ME] AFTERLIFE Telecom Terminology [AT&T] CLOUD RECORDS on Interconnected Business MACHINE [IBM] NETWORKS of SIRIUS Astronomical BLACK [Occulted] SKY Coordinate Intel Assigned [CIA] by MANSA MUSA’s Clandestine American [MCA] UFO [MU] PENTAGON Agency [PA] ELITES of Ægyptian RAMESES’… Highly Complex [ADVANCED] Ancient 9 Ether ALUHUM Astronomically Intelligent ANUNNAKI [AIA = AMÚN] SUN GOD [RA] CONFEDERACY… who Secretly Engineer American [SEA] ECONOMIC POLICIES from Our Highly Official… U.S. 1921 [IV] Clandestine 9 Ether Gregorian Calendar Society of 144,000 Golden “Black Budget” Wall Street TRILLIONAIRE TITANS who ESOTERICALLY Authored [TEA]… Greenwood Oklahoma’s [OK] LEMURIAN OIL & GAS [LOG] LEGACY LAWS 4 My Highly Classified… 1921 [IV] U.S. Ægyptian QUANTUM HARRELL TECH [QHT] LLC in 2022 [VI] San Diego County [D.C.]… since My 2022 [VI] California [CA] Secretary of State... Officially AUTHORIZE Our Highly Official… 2022 [VI] U.S. Ægyptian QUANTUM HARRELL TECH [QHT] CONFEDERACY as A Historically AUTONOMOUS [HA = HARRELL] Underworld [HU = HURRIAN] SUN_KING [Sunken] DOME Confederate [D.C.] STATE Military EMPIRE [ME = U.S. Michael Harrell = TUT = JAH] MONARCHY of the Imperial [MI = MITANNI] HITTITE REICH of A New [ANU] BLACK SUN EMPEROR [SULTAN] of HATTUŠA’s Biblically Ancient [BABYLONIAN] Celestial [B.C.] SKY KINGDOM City of HATTI's ANATOLIAN [HA = HARRELL] 9 Ether ALUHUM Underworld SUN [U.S.] GOD:KING [EMPEROR] SOLOMON's… Historically Ancient [HA = HARRELL] ILLUMINATED [HI = HITTITE] HATTUŠA BEL Christ [B.C.] Families of MAYA's Underground [MU] Mystic Occult Order [MÓO] of Ægyptian [ME] MELCHIZEDEK… who Alkhemically + Genetically Engineered [AGED] A New [ANU] 1968 [VI] Me [ME = U.S. Michael Harrell = TUT = JAH] IMPERIALLY INSURED by Our Highly Official… U.S. Ægyptian QUANTUM HARRELL TECHNOCRACY [QHT] of Lost 2022 [VI] America’s… Historically Ancient [HA = HARRELL] Underground [HU = HURRIAN] MITANNI MILITARY of ENQI [ME] NUDIMMUD’s... ASHANTEE GOLD AGATE [NĀGA] DYNASTY of Clandestine [D.C.] MALIAN Official… U.S. 9 Ether MU American [MA = ATLANTEAN] MICHAEL ABUBAKARI [MA] HARRELL of Indigenous [HI = HITTITE] 9 Ether Reclamation Mineral Laws from Internationally NATIVE GEOLOGICAL DNA Mining Land Policies of Antediluvian [PA] BLACK STEELE FAMILY PATENT RECORDS of Highly Classified… 1921 [IV] U.S. Ægyptian QUANTUM HARRELL TECH [QHT] LLC ONLINE & Offline Banking Computer [B.C.] INCOME Protocols [I/P] AUTOMATING Interactive [A.I.] Scientific Encryption Acronyms [SEA] MONETIZING AUTHORIZED Corporate [MAC] Agreements on Technical Telecom [AT&T] NETWORKS of SIRIUS International… Intellectual Property [I/P] Rights from Our Highly Official… U.S. Ancient [USA = PREDYNASTIC]… 1340 [VIII] MU Atlantic & Pacific [MAP] MARITIME SUN COAST of Antediluvian [CA] LAND [CAL = CALAFIA/CALIFIA] MINING Leasing Agreement [L.A.] LAWS from Lost 2022 [VI] America’s… Highly Classified… U.S. 9 Ether ALUHUM ANUNNAGI ARISTOCRATS of IYD’s Royal [AIR] Uraeus SERPENTINE [U.S. = REPTILIAN = DRACONIAN] GOD DYNASTY of Constellation [D.C.] DRACO from Ægyptan RAMESES’ Lost American [L.A. = NEW Atlantean] BLACK SOLAR SUN [SUL] Coast Island Ocean Continent MONARCHY of Distant [MD] MISSISSIPPI MOTHERLAND [MU] ATLANTEANS & LEMURIANS [MAL = MALDEKIANS]… who Generationally OWN TECHNOLOGICAL [GOT] BLACK SUN Compu_TAH [PTAH] PYRAMID Land Patents from Antediluvian [PA] 9 Ether MALIAN Prince MICHAEL ABUBAKARI’s Clandestine [MAC] Underground [MU] SKY DOME Congress [D.C.] of Inner Earth’s [HADES] Most Darkest [Occulted] Subterranean Earth Acropolis [SEA] in Ancient THEBES who Unified the Royals of the NILE [SATURN] VALLEY WEALTH ESTATES [WE] of GOLDEN Subterranean Pacific Coast [PC] PARADISE Islands w/ABUNDANT MINERAL [I AM] Seafloor Deposits & Gas Economies [SDG&E] Generationally Managed [GM] by the AZTECS' SWARTHY [GAS] 9 Ether DREAM SPIRITS [DAEMONS] of QUETZALCÓATL’s Interstellar [Qi] BLACK SOLAR SUN [SUL] Queen of Antediluvian California’s [CALAFIA’s]… 1720 [X] MU American [MA = ATLANTEAN] BLACK SOLAR SUN [SUL] EMPIRE CODES… 2 My Biblically Ancient [BABYLONIAN] FUTURISTIC 1968 [VI]… 18th Ægyptian AFTERLIFE DYNASTY [A.D.] TOMB RECORDS of Biblically Ancient [BABYLONIAN] 9 Ether ALUHUM AZTECAN DRACONIAN [A.D.] RIZQIYIAN ANUNNAGI [RA] Ægyptian TUTANKHAMEN [E.T.]… who MEMORIZED Ancestral Records of Scientific [MARS] Astronomy [MA] Identifying [MI = MICHAEL] My Biblically Ancient [BABYLONIAN] FUTURISTIC 1720 [X]… Subterranean LEMURIAN OIL & GAS [LOG] EMPIRES MILLIONS of AZTECAN Years Ahead [MAYA] of Lost 2022 [VI] America… who FEAR Us... Universally SOVEREIGN [US = UNTOUCHABLE] Afroasiatic HURRIAN WARLORDS of ENLIL [WE] NUNAMNIR’s... ASHANTEE GOLD AGATE [NĀGA] DYNASTY of Highly Classified… Underground Substructures to the AZTECAN [USA] BLACK SOLAR SUN [SUL] PEOPLES of Lost 2022 [VI] California’s [CA’s]… 1st Pacific SUN_KING [Sunken] DOME Continent [D.C.] HELIOPOLIS of SHAMBALAH’s... IMMERSED Crystallized Ægyptian [ICE] AGHAARTA KINGDOMS of Empyrean Mathematics Engineering TECTONIC [KEMET] PLATE Mechanics ACCELERATING POLAR [MAP] SUN & Earth Temperatures [SET] of SIRIUS Thermal Infrared Energy [HEAT] DYNAMIC Cycles [D.C.] from the Celestial [D.C.] SCORPIUS’ PARALLAX Constellation [PC] of the SARGAS [THETA SCORPII] SUN EMPIRE of Ægyptian [SEE] QUANTUM HARRELL TECH [QHT] DEEP IN:side Inner Earth’s [HADES] Most Darkest [Occulted] Seafloor of Invisible BLACK SOLAR SUN [SUL] Particles of UNSEEN Semicrystalline [U.S.] Surface Deposits from the Geological Energy [SDG&E] Earth [Qi] MINES of TIAMAT's GOLDEN BLACK SOLAR SUN [SUL] SEA of SIRIUS Electromagnetic Energy [SEE] MINERAL Ecosystems [ME]… Originating A New [ANU] Highly Complex [ADVANCED] Dematerialized [A.D.] REPTILIAN [URAEUS] Human METALLURGICAL Fossil RACE of Ancient [RA] Crystallographic SUN DNA/MOON RNA of 72 - 84 Octave Levels @ the 9th Dimensional SPIRIT GOD ALTITUDE of the LUNAR AZTEC XOLOTL & YAOTZIN [GALAXY] MASTER CREATORS of 24 BILLION Strands of SIRIUS Black & Gold Ionospheric MELANIN [I’M] HAIR of Intertwined [HI = HITTITE] 9 Ether ALUHUM HURRIAN SUN [SON] EMPIRE Genealogies @ Ægyptian PHARAOH MENES' [PM]... Highly Official… U.S. 9 Ether American Ægyptian [ATLANTEAN] QUANTUM HARRELL TECH [QHT] SKY الأوكتاجون‎ [OCTAGON] KINGDOM [SOK = SOBEK] MILITARY Universe [MU] HQ of QUETZALCÓATL in 2022 [VI] Ægypt

[coldsublimebarbarian]

E-Cigarette Market Growth and Threats Analysis 2021 by Regional Overview of Leading Manufacturers: British American Tobacco plc,Altria Group Inc.,Japan Tobacco Inc

A new high-end research report documentation estimating multiple developments and growth touchpoints has been included in the versatile report repository. At the backdrop of steaming competition and fast growing vendor landscape with the addition of new players in the competition isle, this report on global E-Cigarette Market is an ideal tool to allow market players in designing novel investment plans to revive growth.

The report is a highly influential document to understand the caliber of various market participants in ensuring thumping growth. Besides analyzing the growth potential of established players this report is a standalone reference guide to review the potential of novel market participants in incurring valuable disruptions in the competition space, on the back of rapid technological milestones, fast changing policies and regulatory framework as well as transitioning end-user preferences.

Vendor Landscape

British American Tobacco plc,Altria Group Inc.,Japan Tobacco Inc.,,International Vapor Group,,Imperial Brands plc,Philip Morris International Inc.,Vapor Hub International Inc.,VMR Products LLC,NJOY Inc.,FIN Branding Group LLC.

Available Sample Report in PDF Version along with Graphs and Figures@ https://www.datalibraryresearch.com/sample-request/e-cigarette-market-2232?utm_source=free&utm_medium=41

Each of the market participants active in global E-Cigarette market competition spectrum is poised to redesign their escape and evolutionary route from devastating aftermath of COVID-19 pandemic crisis that has directly affected smooth functioning of the market.

Market Dynamics Overview:

The report is an expert investment guide that adequately assesses the mettle of various market influencers and unravels diverse opportunities that collectively orchestrate a healthy growth trail. The following is a systematic overview of the various dynamics that decide holistic growth trajectory despite competition upsurge.

Drivers:

The E-Cigarette Market report in this section identifies dominant market drivers and favorable trends that leverage high end growth, peculiar to the usual growth trajectory. The report in this section also unearths eminent demand possibility and customer inclination towards product and service consumption, thus effectively deciding growth prognosis across the timeline.

Restraints:

The report also carefully identifies various restraining factors operational in the market and their limitations which directly interfere with usual growth spurt.

Opportunities:

The following sections of the report evaluates the potential of existing market opportunities in growth diversification, besides also unravelling new avenues that further enhance growth likelihood.

Trend Estimation:

Relentless of E-Cigarette Market developments and novelties also augment growth route in several desirable ways that also reflect growth stability and sustainability in the forthcoming years.

Shoot your queries at: https://www.datalibraryresearch.com/enquiry/e-cigarette-market-2232?utm_source=free&utm_medium=41

Some Major TOC Points:

Chapter 1. Report Overview

Chapter 2. Global Growth Trends

Chapter 3. Market Share by Key Players

Chapter 4. Breakdown Data by Type and Application

Chapter 5. Market by End Users/Application

Chapter 6. COVID-19 Outbreak: E-Cigarette Industry Impact

Chapter 7. Opportunity Analysis in Covid-19 Crisis

Chapter 9. Market Driving Force

And Many More…

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[loyallogic]

Five points to note while taking over a UK based company

This article is written by Yash Mukadam, pursuing a Diploma in M&A, Institutional Finance and Investment Laws (PE and VC transactions) from lawsikho.com.

Introduction

India Inc. has been a small but ever-growing force in the international market. Several Indian companies have looked beyond borders for accelerating their growth with outbound cross border mergers gaining popularity among them. In the UK, there are over more than 65,000 Indian diaspora-owned companies. Out of which the 654 companies have a combined turnover of more than £36.84 billion.[i] 

One of the main motivations for companies to acquire foreign companies is access and entry into new markets such as the case of Bharti Airtel’s acquisition of Zain Africa to get access to its presence in the African telecom market. Secondly, companies are also attracted to the advancement in technology by foreign companies. Indian companies traditionally don’t spend as much on research and development, acquisition of foreign companies gives them access to the latest technologies. Other motivators for Indian companies to show interest in foreign companies are – conducive regulatory environment, access to natural resources, product and market diversification, realization of the importance of vertical integration, etc.

One of the most attractive markets for Indian companies looking for outbound acquisitions is the United Kingdom. The UK is ranked 8th in terms of ease of doing business by the World Bank[ii].  Indian legal system is based on the UK’s system, making it an obvious attraction. India also shares strong linkages with the UK because of its colonial history. Some of the noteworthy acquisitions of UK based companies by Indian entities are – Tata group’s acquisition of Tetley, Corus, Jaguar and Land Rover; HCL Technology’s acquisition of Axon and ONGC’s acquisition of Imperial Energy Corp.

Takeover code

While taking over companies listed on stock exchanges, one needs to take into consideration the law prevailing such takeovers. Under the takeover code (Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011) applicable in India, an acquisition that entitles the acquirer to exercise 25% or more of the voting rights in the company that is being acquired triggers a requirement for the acquirer to make an open offer of at least 26% of the total shares allowing public shareholders to exit the company.  The threshold prescribed in the take over code applicable in the UK (The City Code on Takeovers and Mergers)[iii] is set higher at 30%. Thus, when an acquirer acquires an interest in shares which carry 30% or more of the voting rights of a company, the acquirer is required to make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced. 

The Indian take over code also provides for a provision wherein an acquirer while already being entitled to exercise 25% or more voting rights, acquirers additional 5% or more such rights, in a financial year, is also required to make an open offer. This essentially means that acquirers can acquire up to 5% of the total voting rights/shares in a financial year without having to undertake an open offer process. On the other hand, in the UK, an acquirer who already holds an interest in the company of 30% to 50%, any additional acquisition will trigger a requirement for an open offer. An acquirer can also choose to voluntarily undertake an open offer in both jurisdictions.

Competition law

The provisions of competition law also need to be taken care of, when acquiring based companies. In the UK, the Enterprise Act, 2002 is the legislation that governs anti-trust issues in merger situations and is enforced by the Office of Fair Trading (“OFT”). If OFT is of the opinion that an arrangement would result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services, then it makes a reference to the Competition Commission. The threshold for this provision coming into force is when turnover in the United Kingdom of the enterprise being taken over exceeds £70 million i.e. around INR 6882192244 while in relation to the supply of goods and services, at least one-quarter of all the goods/services of that description which are supplied in the United Kingdom are supply by one and the same person, or supply for one and the same person. The Competition Commission conducts an investigation after a transaction has been referred to it by the OFT. Acquirers hence need to ensure that their acquisition does not violate any of the provisions of Enterprise Act, 2002 as once a case is referred to the commission, the parties to a transaction will have to adhere to its recommendations. The parties may even be required to unwind their transaction. It is also worth noting that since UK is still subject to EU law[iv], the European Union Merger Regulations may also apply in certain cases. For example, Tata Motors’ takeover of Jaguar and Land Rover from US carmaker Ford required antitrust approval from the European Commission. The Competition Act 2002, as applicable in India, will also come into play so the acquirer needs to be mindful of that as well.

Tax implications

Tax implications are also extremely important considerations. It is therefore important to structure the resulting entity in a way that has the least tax burden. Taxation will depend on the type of entity remaining after the takeover. If the acquired company retains its existence as an independent UK based company, then it will be taxed at the rate of 19%[v]  which is presently applicable to companies with profits over £300,000. Under the UK group and consortium relief rules, it is possible to transfer losses and specific expenses and allowances between companies qualifying as a group or consortium. Ordinarily, dividends received from UK sources are not subject to any withholding tax. The legislation governing taxation for UK based companies is known as Corporation Tax Act 2010. As per the DTAA[vi] signed between UK and India, dividends receivable by the Indian entity that has acquired the UK based company will be taxed in India.

Labour laws

They are often very contentious and hence it is important to take into consideration how an acquisition will impact the employees of the acquiree. The Transfer of Undertakings (Protection of Employment) Regulations 2006[vii] is the most important piece of legislation in this regard. Even though most of its obligations fall on the acquirer company, the acquirer must ensure that those obligations are fulfilled to avoid any litigation in the future. Another peculiar piece of legislation that cannot be taken lightly is the Bribery Act 2010 which prohibits the corrupt practice of bribery. This legislation is important because it has a very wide scope of application and can even have an extra-territorial reach and may not be limited to acts conducted in the UK. There is a provision which may result in an organization being held liable for their failure to prevent bribery. Thus, Indian companies might need to check their businesses at home as well.

Laws applicable to Overseas Direct Investment 

Indian companies wishing to acquire companies abroad need to take into account the law applicable to Overseas Direct Investment. Some of the legislations that become effective in these cases are – Section 6(3)(a) of FEMA, 1999 read with FEM(Permissible Capital Account Transactions), Regulations, 2000; FEM (Transfer or Issue of any Foreign Security) Regulations, 2000 popularly referred as (FEMA 120); AP(DIR Series) Circulars issued by RBI from time to time; FAQ on Overseas Direct Investment released by RBI (as updated from time to time); Liberalized Remittance Scheme of February 4, 2004, amended from time to time and FAQ on Liberalized Remittance Scheme – Applicable for resident Individuals. Generally speaking, eligible Indian parties are free to acquire either a partial stake (JV) or the entire stake (WOS) in an already existing entity overseas, provided that where the investment is more than $5 million, share valuation of the company has to be done by a Category I Merchant Banker registered with the Securities and Exchange Board of India (SEBI) or an Investment Banker/ Merchant Banker outside India registered with the appropriate regulatory authority in the UK and in all other cases by a Chartered Accountant/ Certified Public Accountant. In case of investment by way of the share swap, regardless of the amount involved, the valuation will have to be done by a Category I Merchant Banker registered with SEBI or an Investment Banker/ Merchant Banker outside India registered with the appropriate regulatory authority in the host country. However, Indian parties require without the prior approval of the Reserve Bank from investing in companies engaged in real estate (buying and selling) and banking services.

Conclusion

Indian Companies are increasingly becoming more open to outbound acquisitions. While this provides them with limitless growth opportunities, the acquisition itself can be very tricky after all it would be exploring uncharted territories for the companies. Doing extensive due diligence and making sure that the acquisition makes commercial sense can certainly help. The UK as a destination is now more desirable than ever. The UK‘s relationship with India is stable and the similarity in legal systems makes things easier. Once Brexit comes through, the UK will be outside the purview of the convoluted EU laws. It’ll also go out of its way to establish mutually beneficial relationships with other countries. This can turn out to be a huge opportunity and Indian companies are surely going to be big-time beneficiaries of it.

References

“The Takeover Code” The Panel on Takeovers and Mergers, www.thetakeoverpanel.org.uk/wp-content/uploads/2008/11/code.pdf?v=7Nov2019.

Customs, HM Revenue “Rates and Allowances for Corporation Tax.” GOV.UK, GOV.UK, 19 Mar. 2020, www.gov.uk/government/publications/rates-and-allowances-corporation-tax/rates-and-allowances-corporation-tax.

The Transfer of Undertakings (Protection of Employment) Regulations 2006, UK Statutory Instruments 2006 No. 246.

[i] https://ift.tt/3bete8o

[ii] https://ift.tt/2vuklpZ

[iii] “The Takeover Code .” The Panel on Takeovers and Mergers, https://ift.tt/34NKjVJ.

[iv] As on the date of writing this article

[v]Customs, HM Revenue “Rates and Allowances for Corporation Tax.” GOV.UK, GOV.UK, 19 Mar. 2020, https://ift.tt/3bcxHbO.

[vi] Agreement for avoidance of double taxation and prevention of fiscal evasion with United Kingdom of Great Britain and northern Ireland

[vii] The Transfer of Undertakings (Protection of Employment) Regulations 2006, UK Statutory Instruments 2006 No. 246.

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