6 Lifesaving Hacks for Cropping Your Footage to a Wider Aspect Ratio

first_imgBrief Overview of Aspect RatioIn the simplest of terms, an aspect ratio represents the dimensions of your frame. Numbers such as 3:2, 4:3, 1:1, and 16:9 are all standard aspect ratios in video and photography, each one representing the ratio between the width of your image and the height of your image.Let’s begin with the standard aspect ratio of 16:9.For footage that is shot in a 16:9 aspect ratio, your resolution will measure sixteen units in width and nine units in height. In other words, for every sixteen pixels of width, there’ll be a corresponding nine pixels of height. Take for example 1920 x 1080, which is one of the most well-known 16:9 resolutions. The width (1920) is evenly divisible by sixteen. The height (1080) is also evenly divisible by nine. Therefore, the 1920 x 1080 resolution is in the 16:9 aspect ratio.You can scale 1920 x 1080 down to 1280 x 720 (HD-720p), or scale it up to 3840 x 2160 (UHD-4K) and beyond, and the 16:9 aspect ratio will always remain constant.1. Choosing the Right Aspect Ratio for Your ProjectTelevision, web-based content, and many documentary films use the standard 16:9 aspect ratio. It was originally created as a compromise between 4:3, which was the old standard aspect ratio for broadcast, and 2.35:1 (or CinemaScope), which was the standard aspect ratio for films destined for a theatrical release.Today, filmmakers and content creators have the flexibility to choose between the standard 16:9 aspect ratio, or a plethora of wider aspect ratios including 2.35:1 or the more common 2.39:1. Generally speaking, a wider aspect ratio creates a more cinematic look in your images. For example, let’s compare the two shots below. Which one looks more “cinematic” to you?Images via Bud SimpsonFilmmakers began using the wider CinemaScope aspect ratios to more accurately create what the human eye perceives.Be sure to check out these excellent PremiumBeat resources on choosing the right aspect ratio for your project:Choosing Aspect Ratio: A Guide to Everything You Need to KnowAspect Ratio Explained: When to Use the Major Three This article will specifically look at the aspect ratios used in video and film, focusing on the two well-known aspect ratios of 16:9 and the wider 2.39:1.Cropping your 16:9 footage to a wider aspect ratio can instantly add a cinematic look to your work. This is especially true if shooting on DSLRs and camera systems that don’t allow you to record footage at wider aspect ratios, such as 2.39:1 (or scope, as it’s sometimes referred to).However, there are several things you should take into account when cropping your 16:9 footage to a wider aspect ratio. Use this resource as a guide for cropping your 16:9 footage the right way, saving yourself time and major headaches in post and delivery. Interested in the tracks we used to make this video?“Be Big” by Reaktor Productions from PremiumBeat.com“Influencerz” by Eternity Bro from PremiumBeat.com“Trouble Always Comes” by Grace Mesa from PremiumBeat.com“Night Owl” by Waxwing Music from PremiumBeat.comFor more information about utilizing wider aspect ratios, be sure to check out these PremiumBeat resources:Choosing Aspect Ratio: A Guide to Everything You Need to KnowCheat Sheet for Social Media Video Aspect RatiosThe Many Different Ways to Use the Crop Effect in Premiere ProChoosing the Best Aspect Ratio for Your VideoHow Social Media Has Redefined the Aspect Ratiocenter_img 2. Choose Your Aspect Ratio Long Before You Begin ShootingProfessional camera systems such as RED and the ARRI Alexa series offer recording in aspect ratios wider than 16:9, such as 2.39:1 (or scope). However, most DSLRs and prosumer cameras offer few choices in aspect ratio other than 16:9.So, let’s say for a particular project, your budget constraints force you to shoot on a DSLR or mirrorless camera. However, you and your director decided that this content is destined for theatrical release and would be best suited to a wider aspect ratio. How do you achieve the cinematic look of a wider aspect ratio, if you’re forced to shoot 16:9?The strategy is to shoot at 16:9, then crop the top and bottom of your footage in your editing software.There are several things you should take into account when cropping your 16:9 footage to a wider aspect ratio. First and foremost, the decision to deliver your project in a wider aspect ratio should be made in pre-production — not in the editing room, after you’ve already shot your footage.Your framing influences shot composition, lensing choices, storyboards, and even production design. Therefore, make the decision to shoot wide and crop before you start shooting. Furthermore, communicate this decision with other department heads, such as production design. The decision to deliver in a wider aspect ratio should never be made in post-production, after you’ve shot your footage. This will result in composition flaws — such as reduced headroom — and can create a claustrophobic effect in your images.3. Lens Your Project Slightly Wider to Account for Lost HeadroomIt’s also important to consider lensing when planning to crop your 16:9 footage to 2.39:1.In general, shooting at a slightly wider focal length will produce a more pleasing image, and will help in determining headroom for your subjects. Shooting at wider focal lengths will also accentuate the immersive quality of shooting in scope. Take, for example, this iconic shot below from David Lean’s Lawrence of Arabia (Freddie Young, DP). When cropping your 16:9 to 2.39:1, it’s a good idea to keep your field of view wider than 35mm. However, there are of course exceptions to this rule.Lawrence of Arabia via Movie Screencaps.com4. Shoot in 16:9 — Use Guides and Overlays to Compose Your ShotsSo, you’ve made the decision to shoot in a wider aspect ratio. You’ve also made the decision to lens your project slightly wider than you normally would. This is to account for the pixels you’ll lose at the top and bottom of your image when you crop in post. So, how do you compose your shots while shooting in 16:9?Most DSLRs, mirrorless cameras, and external monitors offer some sort of onscreen guide to help you compose your shots. Here’s an example of the overlays that come standard with the Blackmagic Video Assist monitor:Image via Bud SimpsonTIP: If your camera or monitor doesn’t have guides or overlays, tape two thin strips of gaffer tape over your LCD screen to approximate the crop. This hack works in a pinch, and can always be fine tuned in the edit.5. Use PNG Overlays During Your Edit — Crop Your Footage for the Final OutputYou’ve shot your footage. Now, it’s time to ingest your media into your editing software and crop it to a wider aspect ratio.You accomplish this with PNG overlays. These overlays are simply images of black bars placed at the top and bottom of your frame. The overlays are designed to crop a 16:9 image to that of a wider aspect ratio. These work in the same way as the framing guides that you used on your camera or external monitor.To begin, you’ll need to find and download the appropriate aspect ratio overlays. You can download a set of overlays here.Once downloaded, select the appropriate crop for your project. Import this into your editing software, and place it onto the topmost video layer in your sequence. Once in place, lock the layer and edit your sequence as you normally would. By utilizing these transparent overlays, you’ll be able to see what your final output will look like after you crop it.If you composed your shots correctly during the shoot, there’s no need to make adjustments. However, you can reframe your subject along the vertical axis, if need be. If you’re shooting 4K and delivering at 1080p, you can also scale your image up and make adjustments along the horizontal axis, as well.6. Turn Off Your Overlay Video Layer and Crop Your Image Using Export SettingsOnce your project is complete, it’s time to export.Before exporting, be sure to turn off your PNG overlay layer.Next, navigate to File > Export. In the Export Settings dialog box, select the Source tab, and hit the Crop button at the top-left corner of the dialog box.Check out this video to learn how to properly crop your footage and prepare it for output.To recap, here are the six things you should take into account when cropping your 16:9 footage to a wider aspect ratio:Make the decision to use a wider aspect ratio in pre-production — not on a whim in the editing room.Communicate this decision with other department heads (such as the director, storyboard artist, production designer, etc).Lens your project slightly wider than normal to account for lost pixels at the top and bottom of your image when cropping.Take the guesswork out of framing and use your monitor’s framing guides to compose your shots.Use PNG overlays in your editing software to see what your final output will look like.When ready to export, turn off the PNG overlays layer and crop your footage using your editing software’s export settings.last_img read more

18 soldiers killed due to avalanche, landslide last winter

first_imgNew Delhi, Apr 26 (PTI) A total of 18 soldiers were martyred last winter due to avalanche and landslide, Defence Minister Manohar Parrikar said today.Parrikar said in a written reply in Rajya Sabha that 15 soldiers were martyred due to avalanche and 3 due to landslide from October 1, 2015 to March 31, 2016.Immediate efforts in terms of rescue teams comprising ice craft experts, medical representatives and porters equipped with state-of-the-art equipment were mobilised to locations, he said.He said the troops posted in high altitude areas are trained in basic and advance skills in mountains and snow bound areas. Troops posted in avalanche-prone areas are subjected to series of training in the field formation area.Best quality of winter clothing and equipment are procured to prevent weather related casualties. Modern means of conveyance like snow scooters are utilised to ensure timely reaction to any eventuality and reduce fatigue, the minister told the House.A number of specialised equipment have also been deployed in avalanche-prone areas, he added. PTI SAP SRY PAL SRYlast_img read more

Champions League: Liverpool’s Daniel Sturridge keen to make his mark in Europe

first_imgLiverpool striker Daniel Sturridge is eager to make a big impact in the Champions League as he hopes to get his first start in the competition for the Merseyside club when they host Serbian side Maribor on Wednesday.Sturridge joined Liverpool in 2013 and the club have since qualified for the Champions League twice, starting with the 2014-15 season when the 28-year-old failed to recover from his injuries before Brendan Rodgers’ side dropped into the Europa League.Juergen Klopp has led the side back into Europe’s elite competition and Sturridge, who won the competition with Chelsea in 2012, is raring to go.”We’ve been in the Champions League two times since I’ve been at the club,” Sturridge told the Liverpool Echo. “Obviously I missed out the first time but hopefully I can be a big part of this European campaign.”I played in the competition many times for Chelsea and we won it when I was there. It’s nothing new to me. You want to be playing at this level. I am ready for when the opportunity comes.”The manager picks the team. From my perspective, I’m feeling good. I want to stay healthy and I want to keep scoring goals for the team.”Sturridge has made substitute appearances in each of Liverpool’s three opening Champions League games but is yet to score as the club top Group E on goal difference with one win and two draws.The England international has started four out of 10 league matches this campaign and has scored twice with Liverpool in sixth position ahead of Saturday’s match at 16th-placed West Ham United.advertisementlast_img read more

Joe Root adamant England are still in Ashes series despite trailing 2-0

first_imgPlay Video Share on LinkedIn Sign up to the Spin – our weekly cricket round-up The Ashes A rampant Australia now head to their Ashes stronghold of Perth – England have won there just once, against a Packer-depleted side in 1978 – but Root, though frustrated by his side’s sluggish start to the Test with ball and then bat, tried to remain upbeat.“I thought we showed a lot of character which is what you want to see in big series,” the England captain said. “It is now about finding a way to do it over five days. The way that we went about the second innings proved to everyone really we are still massively in this series.”On comparisons with the 2013-14 side, humbled 5-0 under Alastair Cook, Root replied: “I think we are playing better cricket. I don’t think we are as unevenly matched as we were. We have been in control for periods. I don’t think necessarily that was the case last time around.”Root, caught behind off Hazlewood without adding to his overnight 67, admitted to concern about a lack of converted half-centuries personally – just 13 of his 47 have been turned into hundreds – but England’s problems clearly run deeper than his own achilles heel. Read more Read more Share via Email Support The Guardian England cricket team Since you’re here… Australia’s bowlers end England hopes to sweep into 2-0 Ashes lead Joe Root described his England team as being “massively” still in their series with Australia and in better shape than the team that was whitewashed four years ago despite going 2-0 down in their Ashes defence, and with history now heavily against them.Hopes of a record run chase in the second Test were dashed early on the final day when, resuming 178 runs shy, they lost their final six wickets for 57. Josh Hazlewood claimed the wickets of Chris Woakes and Root in his first 11 balls and Mitchell Starc finished with five. Share on Pinterest Topics Cricketcenter_img Joe Root Australia cricket team Australia sport Share on Twitter Ashes 2017-18 1:21 Ashes: Australia defeat England by 120 runs to take 2-0 series lead – video report Though Root was unrepentant over his decision to bowl first on day one, his attack’s inability to get their lengths right first time around meant Steve Smith’s side posted 442 for eight declared. It left the Test an uphill struggle that even a third innings fightback led by Jimmy Anderson’s maiden five-wicket haul in Australia could not overcome.The batting is most worrying, with no centuries so far, Jonny Bairstow looking too low at No7 and Nathan Lyon feasting on England’s left-handers. They have made up 10 of the off-spinner’s 11 wickets, including Moeen Ali in all four innings to date.Root said: “We have to make sure we have decent game plans and counter [Lyon] in practice to make sure we are ready for it when it comes round to the Test matches. It is about making sure you are clear about how you go about playing him individually. Do that then we will be in a very good place.”Trevor Bayliss, the head coach, insisted Australia still have frailties, pointing to centuries by Smith in Brisbane and Shaun Marsh here being the chief difference. And yet the home side have past performers yet to fire, while Mark Stoneman, James Vince and Dawid Malan are still to reach three figures at Test level at all. On what that trio in particular must now do, Bayliss replied: “They have scored 30s, 40s, 50s. If you have made a fifty, which they have, you’ve just got to do it again. It’s about going through that ceiling and doing it twice.” … we have a small favour to ask. More people, like you, are reading and supporting the Guardian’s independent, investigative journalism than ever before. And unlike many news organisations, we made the choice to keep our reporting open for all, regardless of where they live or what they can afford to pay.The Guardian will engage with the most critical issues of our time – from the escalating climate catastrophe to widespread inequality to the influence of big tech on our lives. At a time when factual information is a necessity, we believe that each of us, around the world, deserves access to accurate reporting with integrity at its heart.Our editorial independence means we set our own agenda and voice our own opinions. Guardian journalism is free from commercial and political bias and not influenced by billionaire owners or shareholders. This means we can give a voice to those less heard, explore where others turn away, and rigorously challenge those in power.We hope you will consider supporting us today. We need your support to keep delivering quality journalism that’s open and independent. Every reader contribution, however big or small, is so valuable. Support The Guardian from as little as $1 – and it only takes a minute. Thank you. Share on WhatsApp Share on Facebook Share on Messenger In contrast to Lyon, Moeen’s form with the ball – two wickets at 98 apiece – is vexing for Root and Bayliss. Though the bulk of England’s XI can rest during the two-day match in Perth from Saturday, the all-rounder, with problems to his side and a finger, is down to play while Cook, after a slow start, may well opt to join him.Mark Wood, the Durham quick, is expected to play along with England’s Test reserves and some of the Lions squad. But an encouraging debut of four wickets and an unbeaten 41 from Craig Overton has left Bayliss minded to keep an unchanged side for the third Test that starts on 14 December as the Waca hosts its final Ashes match.Bayliss added: “Somewhere along the line we will win a game and it will mean so much to them. It will make them believe they are good enough. When that happens we will be able to go on and get many more wins in those situations.” Reuse this contentlast_img read more

Minnesota Knocked Off Wisconsin For The First Time Since 2003

first_imgMinnesota scores a touchdown against Wisconsin.MADISON, WISCONSIN – NOVEMBER 24: Mohamed Ibrahim #24 of the Minnesota Golden Gophers celebrates with teammates after scoring a touchdown in the second quarter against the Wisconsin Badgers at Camp Randall Stadium on November 24, 2018 in Madison, Wisconsin. (Photo by Dylan Buell/Getty Images)College football fans may not know this, but Wisconsin vs. Minnesota is actually the sport’s most-played rivalry game in history. For the last 14 years, however, it hasn’t been all that competitive. Wisconsin had won 14 contests in a row.Saturday, however, the tables finally turned. Minnesota, in search of its sixth win of the season, got a huge performance from Mohamed Ibrahim, who rushed for 121 yards and touchdown on 26 carries. The Golden Gophers both knocked off their hated rival for the first time in 15 years and qualified for a bowl game.Minnesota had not held Paul Bunyan’s Axe since 2003.The game wasn’t all that close, either. Minnesota won, 37-14, getting some payback for last year’s 31-0 defeat.Oh, and speaking of Minnesota, PJ Fleck and the Gophers are going to take Paul Bunyan’s Axe AND will be bowl eligible.— Kevin McGuire (@KevinOnCFB) November 24, 2018Paul Bunyan’s Axe is finally back home in Minnesota where it belongs! Great game Gophers! ⁦@IndignantMN⁩ #minnvswisc pic.twitter.com/nVvg5rnO4q— Kip Fontaine (@kip_fontaine) November 24, 2018After Minnesota’s win, the all-time series is now tied again. The two squads are 60-60-8 against each other.Wisconsin, after the loss, finishes the season with a 7-5 record. The Badgers will be a bowl team, but it will still be considered a disappointing season.For Minnesota, it’s a huge step forward in P.J. Fleck’s second year. In two years, he has an 11-13 record thus far.last_img read more

No Jitter Roll Five for Friday

4B1wt4O.jpg In this edition of the No Jitter Roll, we look at announcements around digital workspaces, artificial intelligence (AI), network, monitoring, and video from providers Citrix, Redbooth, Savvius, Apcela, Aryaka, and Polycom — as diverse as ever.Citrix Aims to Unify Experience and AppsThis week at its Synergy event, Citrix announced Citrix Workspace, a unified digital workplace app that allows employees to access all the applications and content they use across any device, with built-in security and single sign-on (SSO). “Maintaining productivity in an era where new workstyles and applications are dynamically and increasingly complex requires a new approach to delivering the user’s workspace, one that is focused on people, and how they use technology to get their jobs done,” said Citrix chief product officer PJ Hough, in a prepared statement. With Workspace, users can start work at home on their tablet, for example, continue working on their smartphone during their commute, and pick up where they left off when they arrive to the office and sign on to their laptops or desktops. Because Workspace includes Citrix networking and file-sharing capabilities, the same experience and capabilities are available across all devices, with integrated search, enabling content collaboration no matter where files are stored, the company said. Among other announcements made at Synergy, Citrix now offers a Slack integration for its Secure Mail app, enabling users to convert email messages into Slack conversations and send Slack messages from within Secure Mail. Additionally, through Citrix Cloud services, enterprises can now move workloads between clouds — AWS, Azure, Google, Oracle, or private clouds — as business needs dictate. Redbooth Homes in on AI for Task ManagementRedbooth, workstream and task management software provider, this week announced Smart Redbooth, artificial-intelligence powered project management built into its latest release. Smart Redbooth incorporates machine learning technology to provide predictive task assignment and scheduling, and is aimed at helping enterprises maximize project resources and increase efficiency, as well as meet their needs “to do more with less,” as Ryan Crosbie, Redbooth director of product, said in a prepared statement. “Organizing your work and being efficient are the keys to increasing productivity.” More than 600,000 teams have used the Redbooth platform to work on more than 1.8 million projects, Redbooth reported. Through analysis of accumulated task and project data, Redbooth identifies patterns and commonalities that Smart Redbooth leverages to predict which resources will need to be assigned to a task and to estimate an approximate date for task completion. Other enhancements available in the latest release include a redesigned workspace that organizes information to better match the way people are working; revised task details that enable users to prioritize, categorize, search, and sort tasks to see task statuses; and a new activity feed, delivered in a collapsible panel. The feed shows when somebody has joined a team or created or completed a task, for example, and lets users send and receive instant messages for answering quick questions. In addition, Redbooth reported record signups and the highest month in company history for new paying customers since it merged with collaboration software provider AeroFS in September 2017. Apcela, Savvius: Monitoring Takes the SpotlightSeveral network and application performance management players have announced new or enhanced capabilities. For starters, Apcela announced the availability of AppMon, a software-defined monitoring solution aimed at helping enterprises identify application-specific performance problems and reducing time to diagnose and repair issues across clouds or in hybrid configurations. It integrates with Apcela’s Enhanced Analytics Platform, and AppMon and SD-WAN performance data can be analyzed together to help identify targets for improvement. “Greater visibility is key for customers to better understand the performance of cloud applications and networks, so they can easily and quickly pinpoint and resolve issues,” said Apcela CEO Mark Casey, in a prepared statement. Separately, network visibility provider Savvius released Spotlight 2.0, an enhanced version of its network performance monitoring solution. With Spotlight 2.0, enterprises now have the ability to view and engage with network traffic that is generated by key business applications, including popular SaaS apps like Office 365, Salesforce, and Webex, as well as custom applications, the company said. The release also features new “user-defined” dashboards providing IT pros with real-time views of network segments and traffic types that are most important to them. Users can drill down on packet-level analytics, and via more flexible filter capabilities, set up customized dashboards and view factors like server ports, protocols, and server IP addresses. Additionally, the 2.0 release provides more specific information about worst TCP and VoIP quality, with information like connections refused, retransmissions, zero window, worst jitter, and more, Savvius said. Aryaka Goes After SD-WAN QoSSD-WAN provider Aryaka this week unveiled new capabilities for enhancing real-time quality of service (QoS) over WAN connections for mission-critical business applications. Integrated with the company’s SmartConnect SD-WAN services, Aryaka’s Application Driven Adaptive QoS is aimed at enabling enterprises to share and optimize access resources between business applications. It provides extra bandwidth on shared links to Internet-bound traffic when the bandwidth is not needed by mission-critical business apps. Additionally, it allows precision link control and improves network bandwidth use, as enterprises are able to “re-balance” their network environment according to changing bandwidth requirements, Aryaka said. “Cloud service models have revolutionized how enterprises consume IT resources and applications globally,” said Aryaka senior director of product management Mouli Radhakrishnan, in a prepared statement. “Businesses embarking on global expansion and cloud transformation journeys will access the world over an elastic network driven by application and business intent.” Polycom Shows Healthcare Use Cases, Enhances EagleEye Director IIOut of the American Telemedicine Association’s conference in Chicago last week, Polycom’s Healthcare team demonstrated how healthcare providers are leveraging Polycom technology to improve the way they collaborate on medical cases. Specifically, as shown below, healthcare providers are using the Polycom Pano wireless content-sharing system to compare and annotate over X-ray images, videos, or documents. In addition, to meet the needs of an increasingly mobile network of healthcare providers, Polycom leverages mobile solutions like RealPresence Desktop on iPad and Polycom Trio with Visual +. Outside of the healthcare vertical, Polycom has also rolled out a new cascading feature for its EagleEye Director II intelligent camera system, which allows two tracking camera systems to connect to each other. Then, utilizing intelligence and analytics, the system will determine which camera provides the best view of the active speaker, even if that speaker is not in room, Polycom said. Follow Michelle Burbick and No Jitter on Twitter!@nojitter@MBurbickTags:News & ViewsEnterprise ConnectEnterprise Connect Articles You Might Like Microsoft Wins Best of Enterprise Connect Overall Award Michelle Burbick March 19, 2019 And AWS, Microsoft, Mio, Optanix, and Plantronics-Polycom win in four new breakout categories. Winning in Collaboration at EC19 Michelle Burbick March 19, 2019 From our ‘Best of’ awards, to new solutions from Microsoft and AWS and a successful digital transformation for Walmart, everyone is winning at Enterprise Connect! The Countdown to Enterprise Connect 2020 Is On! Beth Schultz August 28, 2019 Join us March 30 to April 2 in Orlando, Fla., for our annual enterprise communications & collaboration conference and exhibition. Wow! Reflections on Enterprise Connect 2019 Marty Parker March 26, 2019 10 takeaways from an action-packed, information-filled week in Orlando, Fla., at EC19. 6 Trends Recapping Enterprise Connect 2019 Zeus Kerravala March 25, 2019 EC19 has come to an end, and oh what a week it was. See All in Enterprise Connect » read more

Switzerland aids UNs longterm development efforts in warstricken Afghanistan

The 3.6 million Swiss francs donated by the Swiss Agency for Development and Cooperation will fund the second phase of a UN Development Programme project known by its acronym PEACE (Poverty Elimination and Community Empowerment Programme). The Islamabad-based Office of the UN Coordinator for Afghanistan called the commitment “a significant shift from emergency relief to longer-term assistance.” The PEACE II project will work to foster stability in Afghanistan by improving local governance, empowering civil society and alleviating poverty. Operating in at least 23 rural districts and six urban centres in Afghanistan, it will provide assistance in the areas of food security, sustainable livelihoods, basic social services and the reintegration of refugees and displaced persons. Participating agencies include the UN Food and Agricultural Organization (FAO), the UN Office for Project Services (UNOPS), and the UN Centre for Human Settlements (Habitat). The first phase of the project, which ran from 1997 to 2000, achieved a number of key long-term development objectives, including the setting up of over 900 community-based organizations in Afghan villages. read more

Nadal wins 11th French Open title

Rafael NadalWorld number one Rafael Nadal won an 11th French Open title by beating Austrian Dominic Thiem in straight sets.Nadal, 32, won 6-4 6-3 6-2 to earn his 17th Grand Slam, three adrift of Roger Federer’s all-time men’s record. The Spaniard edged an intense opening set, tightening his grip in the second.And despite having cramp in the third he increased the tempo further, beating Thiem in his first major final when the 24-year-old returned long. “It’s a dream to win 11 times,” Nadal said.“It was important to play the way I did. It was a tough moment when I got cramp. He is a player who pushes you to the limit.”The victory means the past six Grand Slam titles have been won by either Nadal or Federer with the next generation of players finding it hard to break the veterans’ stranglehold on the game.Nadal is the only second player in history to win the same Grand Slam on 11 occasions after Margaret Court, who won 11 Australian Open titles between 1960 and 1973.However, it was not all smooth for Nadal, who missed four match points on his own serve before clinching victory when Thiem went long on the fifth. Nadal dropped his racquet at the baseline in celebration before turning to his box and raising both hands skywards. (BBC) Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedNovak Djokovic beats Rafael Nadal to win record 7th titleJanuary 27, 2019In “latest news”US Open 2016: Stan Wawrinka upsets Novak Djokovic for men’s titleSeptember 11, 2016In “Sports”Nadal made me a better player – FedererFebruary 28, 2018In “Sports” read more

Eurozinc Mining and Lundin Mining to merge to create premier CuZn producer

first_imgEuroZinc Mining Corp and Lundin Mining Corp today announced that they have entered into a definitive agreement to merge the two companies to create a new global mining company. The combined company will be called Lundin Mining Corp and will have a market capitalization of some $3.0 billion, creating one of the North American and European markets’ premier, diversified copper and zinc producers. The combined company, upon closing, will remain listed on the Toronto, OMX (Stockholm) and AMEX (application required) stock exchanges.The merger creates a diversified copper/zinc producer with four profitable mines in Portugal, Sweden and Ireland; with a fifth, Aljustrel, to commence production in the second half of 2007. IM, recently visited the Portuguese operations of Neves-Corvo and Aljustrel and will report on them in January.Annual production will be about 205,000 t of contained zinc, 90,000 t of contained copper, 80,000 t of contained lead and 6 Moz of contained silver.Colin K. Benner, Vice-Chairman and CEO of EuroZinc, stated: “This merger adds significantly to both EuroZinc and Lundin Mining’s operating bases. By combining the two companies, our collective strengths will allow us to further improve the significant operating cash flow from each of the operations. The combined financial strength and collective expertise of our talented personnel will allow the new company to pursue global growth opportunities and fill the market void in the mid-tier mining sector. This combination of companies will increase shareholder value and provide greater sustainability for the future. We are very pleased and excited about the possibilities this merger affords our collective shareholders and see this as a major step in building a world-class mining house.”Karl-Axel Waplan, President and CEO of Lundin Mining, added: “The combined strengths of Lundin Mining and EuroZinc will allow an acceleration of both companies’ aggressive growth strategies. The combined company will have a world-class portfolio of mining projects, the support of extensive shareholder bases in both North America and Europe, a very strong financial position with excellent cash flow, and a highly motivated management team – creating an exciting, powerful platform for rapid growth. We have a clear vision of where we want the combined company to go and we intend to both maximize our existing assets and also continue to pursue other world-class opportunities globally with the clear objective of creating value for our shareholders in both the short and the long term.”All of the combined company’s mines are located in stable European jurisdictions: Portugal, Sweden, and Ireland. The combined company will directly employ approximately 1,500 people. In addition to its breadth of operations, the combined company will have an extensive exploration and development portfolio. Each of the existing mines is located within large land packages in prolific base metal belts. Furthermore, through the proposed addition of the Metropol joint venture in Russia, the combined company will own or have an ownership interest in four of the world’s fifteen largest zinc deposits. The combined management team is highly confident in the combined company’s ability to grow from its present portfolio through both acquisitions and organic opportunities.Benner will become Vice Chairman and CEO of the combined company and remain based in Vancouver. Waplan will become President and COO of the combined company and remain based in Stockholm. Both EuroZinc and Lundin Mining will be equally represented on the board of the combined company which, along with Benner, will include Lukas Lundin as Chairman.last_img read more

Publicans feel neglected by government

first_imgPUB OWNERS SAID they feel neglected by the current government, as they outlined the details of recent business closures and redundancies.Over 350 publicans from all over Ireland are in Meath for the three-day 40th Annual Conference of the Vintners’ Federation of Ireland (VFI).DissatisfiedRecent research for the VFI showed that 86 per cent of publicans surveyed are dissatisfied with the level of support from government for Irish business.Thirty nine per cent of publicans have made reductions in staffing levels in the first three months of 2013 “in a desperate effort to stay open”, it added.Recent figures released by Revenue outlined that a further 150 pubs closed their doors last year and based on this independent survey and the trends outlined, the VFI believes that 2013 will see a further decline.Some of the key findings of the independent survey show that in the first three months of 2013 only 8 per cent of publicans increased staffing levels, while 43 per cent have reduced staff working hours and 39 per cent have made reductions in staffing.From January to March 2013, 62 per cent of VFI members say business has been slow and turnover down; only 9 per cent have recorded an increase in business/turnover. When compared with the first three months in 2012, 36 per cent say that business is down between 1-10 per cent, while 15 per cent have recorded an increase in turnover when compared with last year.President of the VFI, Gerry Rafter said:Unfortunately we find ourselves in a very similar situation to this time 12 months ago with further pub closures and job losses casting a long shadow over our AGM. The government made a lot of noise in their programme for government about helping Irish business but as yet we have seen very little action.He said he believes it is “time that we started to shout about the positive contribution the Irish pub has made and continues to make to Irish society and in particular rural communities”.Earlier today, the VFI said that if a ban on alcohol sponsorship is to be brought in, sports clubs could loss €3.5m per year.Read: Sports clubs could lose €3.5m if pubs banned from sponsorship – VFI>last_img read more

Bonnie Raitt Cancels Tour With James Taylor For Health Reasons

first_img Facebook Bonnie Raitt Cancels Tour With James Taylor For Health Reasons News Twitter Bonnie Raitt Cancels Tour With James Taylor bonnie-raitt-cancels-tour-james-taylor-health-reasons Email The GRAMMY winner has announced she will not appear on the first leg of the joint tour that was scheduled to start in MayRenée FabianGRAMMYs May 1, 2018 – 10:39 am Those looking forward to seeing Bonnie Raitt on tour with James Taylor starting this May will have to wait. On April 30, the GRAMMY winner announced she is cancelling her appearances in the first leg of the joint tour for health reasons. The tour with Taylor was scheduled to begin May 8 in Jacksonville, Fla.Though no specific medical condition was cited for the cancellation, a Facebook post announcing the news shared that the decision came following Raitt’s annual physical. The doctor determined she needed surgery in the near future and “the prognosis is good and a full recovery is expected.”So not to worry. The 68-year-old singer/songwriter expects to be in full health come the second leg of the planned tour in July, which includes dates in Buffalo, N.Y., and Lenox, Mass., before the duo head to Europe.”I’m deeply sorry to have to disappoint my fans, James and colleagues with these cancellations,” Raitt said. “I was so looking forward to our tour, but I’m very grateful that the doctors feel this can be taken care of with surgery. I’m feeling strong and am in great hands with my wonderful team. I fully expect to return for the second leg of the U.S. tour in June followed by our European tour in July.”Catching Up On Music News Powered By The Recording Academy Just Got Easier. Have A Google Home Device? “Talk To GRAMMYs”Read morelast_img read more

FBI to investigate controversial Sitka arrest tasing event

first_imgThe Anchorage FBI office will be taking a leadership role in the investigation of the 2014 tasing of a teenager in a Sitka jail cell. Franklin Hoogendorn, age 18, was a student at Mt. Edgecumbe High School when he was arrested and tased by three officers, while in custody of the Sitka Police Department.Download Audio:The FBI has 56 field offices throughout the country, and one of them is in Anchorage. Part of the bureau’s mandate is to investigate color of law abuses. Color of law describes someone given authority by a local, state or federal agency.“And excessive force, which is something we would term ‘color of law,’ falls under that civil rights violation, so that’s how the FBI gets involved,” said Staci Feger-Pellessier, the public affairs specialist for the Anchorage office.As of Friday, their office took the lead in reviewing the use of force in Franklin Hoogendorn’s arrest, along with the Alaska State Troopers. Feger-Pellessier says this type of review is within the Bureau’s job description.“People always think, ‘Oh, FBI is involved’ — people always think that makes it more serious or kind of takes it to a different level. It’s just that this falls within our jurisdiction. We have the authority to investigate violations or potential violations of civil rights.”In 2012, 42 percent of the FBI’s civil rights caseload involved color of law issues — 380 cases. Last year, it was 307 cases. Feger-Pellessier could not discuss the details of the investigation, but said that when the case concludes, standard procedure is to submit the findings to the U.S. Department of Justice for further action.“We do not make the final decision on whether or not the case is going to move forward. We investigate. We gather the facts and we hand that information over to the U.S. Attorney’s office and the U.S. Attorney makes the final decision.”Sitka Police Chief Sheldon Schmitt reviewed a videotape of the arrest last fall and said that while it, “didn’t look good,” he concluded it did not violate Sitka’s policies at the time, and that Hoogendorn’s resistance to arrest was not captured in the video. KCAW-Sitka has filed a Freedom of Information Act to obtain the arrest policies of the Sitka Police Department. The request has been denied.When a local teacher posted a video of the arrest on YouTube in late October, generating over 36,000 views and concern from the community, Chief Schmitt requested the Alaska State Troopers conduct an independent review. Col. James Cockrell, who oversees the Troopers, said the FBI’s involvement brings more objectivity to the investigation.“The FBI has a federal nexus. They’re not as intimately involved with the (Sitka Police Department) as the Alaska State Troopers were and we think having another agency involved with it seems like the most reasonable and defendable approach we could take.”Col. Cockrell could not say how long the investigation would take, but that it would likely stretch for months.“Because I know there are some witnesses out of state now, so it will probably take several months. Tracking down witnesses for a case that’s over a year old will take some time. This isn’t going to be resolved overnight.”Officials with the city of Sitka could not be reached for comment.last_img read more

Check out Chris Pratt and Tom Hollands Onward trailer

first_imgThe official trailer of Chris Pratt and Tom Holland’s upcoming Disney and Pixar film, Onward, was dropped earlier during the NBA finals! Just like every other Disney and Pixar film which thrives in fantastical worlds and intriguing new creatures, Onward too, revolves around the journey of two elf brothers. Their quest is to check if the world still has even a bit of magic left.The trailer begins with an interesting setting, a world with magical creatures, all lacking the one thing that makes them mystical, all the magic! Turns out, after a big change, they all lost their magic and are comfortable in this new phase of their lives. Tom Holland, who plays the protagonist, also seems to care less about magic or adventures, seems to have a problem with unicorns and is not as enthusiastic or ecstatic as his elf brother, played by Chris Pratt.Get your first look at Disney and Pixar’s Onward tonight during the NBA Finals. #PixarOnward pic.twitter.com/djCITOqdg4— Walt Disney Studios (@DisneyStudios) May 30, 2019Onward posterTwitterSo while Pratt admits that they are heading on an extraordinary journey to discover the magic that could be left on the planet, Holland is nonchalant, reluctant more than anything. “We are going on a grand and glorious quest,” Barley (Chris Pratt) declares towards the end of the trailer, to which Ian (Tom Holland) retorts, “It’s not a quest, it’s just a really fast and strange errand.”How will things work out for these two brothers? Will they be able to discover the magic and bring it back to its rightful owners? Check out the trailer below!Onward trailerYouTubeThe film also stars Julia Louis-Dreyfus and Octavia Spencer in pivotal roles. Directed by Dan Scanlon, previously known for his work behind Monsters University, the helmer has reunited with producer Kori Rae for this project.The speculated date of release mentioned is March 6, 2020. After Toy Story 4, this is Pixar’s next best offer to the world of animated cinema!The last time Tom Holland and Chris Pratt came together for a project was the Avengers series. Well, technically, they were brought together in the third part of the series, Infinity War and later Endgame. Hence, we can safely say that they have worked together previously and seem to be in cahoots. Onward sure is going to be an interesting watch!last_img read more

BNP opposes unilateral delimitation of constituencies by EC

first_imgThe BNP on Thursday termed an ‘evil indication’ the election commission’s (EC’s) move to unilaterally finalise the draft of delimitation of constituencies law.“Different media reports say that the EC is going to finalise the draft of delimitation of constituency law even before discussions with political parties. It’s the expectation of all that the chief election commissioner will reach a decision on it after talks with all the political parties,” said BNP senior joint secretary general Ruhul Kabir Rizvi.Speaking at a press conference at the party’s Nayapaltan central office, he further said, “If he (CEC) presents a draft of the law without discussions with all parties, we’ll understand there’s an evil intention behind it.”The BNP leader said people are in doubt about the EC’s move to finalise the draft law just after discussions with some political parties. “People have started believing that the CEC has taken over the charge of the Commission to make happy his master (govt).He said their party thinks CEC KM Nurul Huda has been working as per the government’s desire as he has no will to hold a fair and acceptable election.Voicing concern over the growing incident of enforced disappearance, Rizvi alleged that businessman and industrialists apart from BNP leaders and activists are being made disappeared to realise money from them ahead of Eid.He said six people were made disappeared over the last one week, spreading panic among people.The BNP leader alleged that police have refused to register a general diary over the missing of Kalyan Party general secretary MM Aminur Rahman.He alleged that members of law enforcement agencies are involved in enforced disappearance as they are carrying out such incidents at the behest of the government.Rizvi demanded the government immediately trace Aminur and other missing people and produce them before the public.last_img read more

Bangladeshi peacekeeper killed in South Sudan

first_img.A peacekeeper from Bangladesh was killed on Tuesday when unidentified gunmen ambushed a humanitarian convoy on a road in South Sudan, the United Nations mission in the country said.South Sudan slid into violence in late 2013 when president Salva Kiir broke with his then deputy Riek Machar, leading to violent clashes between government troops and those aligned to Machar. The two leaders are meeting in neighbouring Sudan to try to reach a peace deal.Bangladeshi military liaison officer, lieutenant commander Ashraf Siddiqui, was part of a convoy led by Nepalese peacekeepers providing protection to humanitarian workers travelling from the town of Yei to Lasu when he was killed.”Several shots were fired at the group by unknown gunmen,” the United Nations Mission in South Sudan (UNMISS) said in a statement. The peacekeepers returned fire and the attackers fled into the forest.Both government and rebel forces are present in the area where the attack happened. There was no immediate comment from the government. Lam Paul Gabriel, deputy spokesman of the opposition SPLM-IO, said rebel troops did not attack aid convoys.last_img read more

Pelosi Keeps it Real with HU Students

first_imgBy Micha Green, AFRO Washington, D.C. Editor, mgreen@afro.comDonning an all orange suit with shoes to match, in honor of ending gun violence- a hot button issue that was set to hit Wednesday’s House floor for the first time in eight years- Speaker of the House Nancy Pelosi frankly spoke to Howard University students on an array of subjects relating to their lives and futures.The event, held on Feb. 27, was part of the “Gwendolyn S. and Colbert I. King Endowed Chair in Public Policy Lecture Series.” This year’s endowed chair is former Democratic National Committee (DNC) Chair, political strategist and author Donna Brazile.Former Democratic National Committee Chair Donna Brazile moderated a discussion with Speaker of the House Nancy Pelosi at Howard University’s School of Business on Feb. 27. (Photo by Rob Roberts)Brazile, who has brought political heavy hitters from both sides of the aisle, including former Republican National Committee Chair Michael Steele, told the AFRO why she felt it was important to bring Pelosi from the House to Howard.“I wanted to bring [Pelosi], because she’s the Speaker of the House.  She’s the one who controls the legislation. She’ll be very much engaged in the budget discussions and she’s the one who helps us with the policy in the House of Representatives.  And I think having her on an HBCU  (Historically Black Colleges and Universities) campus, Howard University in particular, is a great way to remind her that this university, like all other universities, deserve her time and attention.  And she readily accepted the invitation.” Brazile told the AFRO.Brazile posed a question on student loan debt, which has increased 102 percent since 2009 according to Bloomberg.“The debt is bigger than credit card debt.  So when they want to give a tax break of over a trillion dollars to the richest people in America, why don’t we just eliminate the debt for higher education, instead of giving a tax cut to the top one percent in our country?” Pelosi said to the audience. “That would be something constructive to do that everybody would share in.  And by the way, nothing brings more money to the treasury to further reduce the debt, than investments in education.”On the topic D.C. statehood, Pelosi was very supportive of the idea, yet skeptical that the bill, H.R. 51, would pass this year.“I’m supportive of the idea of statehood for the District of Columbia.  I’m all for it.  It’ll probably happen, or have a better chance of happening… under a Democratic president.  But it’s something that we have to build a crescendo for. So unfair,” she said.  “When we took office just a month and a half, we gave Eleanor Holmes Norton a right to vote on the floor, not on all measures, because that would mean a Constitutional change, but on many measures in the House.”In less than hour students were able to listen to the moderated discussion between Pelosi and Brazile and then ask questions to the Speaker herself.One student asked about reparations, the unrealized promise of valued land and goods to Blacks post the Emancipation Proclamation, and how to serve African Americans who still struggle today as a result of slavery.  The Speaker admitted that reparations is a challenging issue that Rep. Sheila Jackson Lee (D-Texas) has tackled with legislation to study the topic of giving African Americans their promised goods- further than 40 acres and a mule.  With the difficulty of reparations, Pelosi touched on the troubling issues of poverty and disparity, which disproportionately affects African Americans.“When you want to be involved in public service, know your why.  What attracts you to this? I went from the kitchen to Congress, housewife to House Speaker, and my why is the one in five children in America living in poverty,” she explained. “We have to reduce the disparity in income in our country.  We have to reduce the disparity in education….  We have to reduce the health disparities in our country… So while we’re studying how we deal with the reparations issue, there’s plenty we can do to improve the quality of life of many people in our country.”Melyvonn Leon, a second year MBA student and graduate assistant at the School of Business, said he felt it was important to have Pelosi present at a place like Howard.“This was an awesome experience.  To get that up, close and personal experience with such a prominent member of society- such a large name in the leadership of this country right now.  To have that easy access at Howard, and specifically within the School of Business, is unbelievable.”last_img read more

Overweight Lose kilos not hope with proper BMI

first_imgWhen 49-year-old Veena Gandhi came to Dr Tarun Mittal, a laparoscopic and obesity surgeon at Sir Gangaram Hospital in the capital, she had difficulty walking with shortness of breath and acute pain in her joints. The culprit: obesity.Suffering from an array of health issues like hypothyroidism, hypertension and an uncontrolled Type-II diabetes that put her on insulin therapy, she also had difficulties sleeping at night.“We performed laparoscopic gastric bypass on her in which we created a food channel from stomach to small intestine by-passing around 200 cm of small intestine,” said Dr Mittal. Also Read – ‘Playing Jojo was emotionally exhausting’Post-surgery, she lost 25 kg systematically in a span of 10 months and is set to lose extra 10-15 kgs in the near future.Today, Gandhi is off insulin with good glycaemic control.”Without the operation, she would have been a high-risk candidate for ischemic heart disease, obstructive sleep apnea with subsequent respiratory failure, uncontrolled diabetes and associated complications,” Dr Mittal said.The bare fact is that there are millions of obese Indian in all age groups who just cannot shed the fat despite trying a range of options – from diet control to running or gym and even yoga. Also Read – Leslie doing new comedy special with Netflix“Simple obesity (body mass index of over 30) can be controlled by diet and exercise but it requires 7,500 calories to burn a kg of body fat. It means brisk walking on a treadmill at nine km per hour for 20 straight hours!,” quips Dr Atul Peters, director and head, Institute of Bariatric and Metabolic Surgery, at Fortis Hospital.For those who prefer the weight-loss pill route, “there are over-the-counter drugs for weight loss which can result in a temporary weight loss of four-five kgs but the same will come back in no time once those pills are stopped,” he said. Research has shown that in many cases, a significant underlying cause of morbid obesity is genetic.Studies have demonstrated that once the obesity is established, efforts such as dieting and exercise programmes have a limited ability to provide effective long-term relief.“More than 90 per cent of participants in weight-loss programme regain fat within a year and it is even more difficult for morbidly-obese patients,” explains Dr Naresh Singhi, consultant, laparoscopic bariatric surgeon at Nanavati Super Specialty Hospital in Mumbai.According to a study published in the prestigious journal Lancet, at over 30 million obese people, India is just behind the US and China in the “Global Hazard List” of top 10 countries with highest number of obese people.According to the 2015 World Health Organisation data, prevalence of ‘overweight in adults’ increased to 22 per cent (2014) from 19.7 per cent (2010) and obesity increased to 4.9 per cent (2014) from four per cent in last four years. A body mass index between 25 and 30 is deemed to overweight. Nearly 14 per cent of women (age group 18 to 49) in India were overweight or obese in 2008 (compared to 10.5 per cent in 1998).Experts say that the obesity epidemic is attributable to dietary and behavioural trends. Added to that is a person’s genetic makeup and susceptibility to obesity-related disease.Each individual’s genetic background remains an important determinant of susceptibility to obesity.“It is clear that obesity often runs in families. Having obese relatives increases one’s risk for obesity even if the members of the family do not live together or share the same patterns of exercise and food intake,” Dr Mittal notes. Today, it is observed in various parts of the world on November 26 every year.last_img read more

Facebook targeted young LGBTI people with gay cure advertisements

first_imgThe social media giant uses specially designed algorithms to target advertising to its users based on their online behaviours.But young LGBTI people reported feeling ‘shaken’ at seeing ads promoting ‘sexual purity’, according to a report in The Telegraph.When users clicked ‘why am I seeing this ad’, it responded because they had shown an interest in ‘gender issues’.Gay cure or conversion therapy is a widely condemned practice and illegal in many places around the world.Facebook user, Alystair Ryder, said it was irresponsible for Facebook to target young LGBTI people.Ryder said when he saw the ad it left him feeling ‘shaken’.‘It was written in a way to try to appeal to people who may be depressed or self loathing due to their sexuality,’ he said.‘I think it’s pretty irresponsible for Facebook to allow an advert that preys on gay men with mental health issues in such a negative way on their homepage.’ Facebook targeted young LGBTI people with ‘gay cure’ ads Facebook has reportedly targeted young LGBTI people with ‘predatory’ targeted advertisements for gay cure therapy. Read the full article on Gaystarnews:  :https://www.gaystarnews.com/article/facebook-targeted-young-lgbti-people-with-gay-cure-advertisements/ GAYSTARNEWS-center_img eTN Chatroom for Readers (join us) Share this:TwitterFacebookLike this:Like Loading… Facebook’s ‘blunder’The social medias site said that a mistake in the ‘micro-targeting algorithm’ lead to the young LGBTI people seeing the ads. It claims to have since removed the ads from the feeds of young LGBTI people.Tessa Ann Schwartz, slammed the Facebook for allowing young people to see the ads. She complained to Facebook.‘I don’t know why Facebook has permitted this group to target LGBT people, who have intentionally sought out community and education amongst peers, for shaming and hatred masked as love,’ Schwartz told The Telegraph.In the United Kingdom, people forced to undergo ‘gay cure’ therapy reported being nearly drowned and starved. In some countries people are beaten, raped, force-fed, injected with drugs against their will and forced to aggressively ‘pray the gay away’.Almost every mainstream health and psychiatry organization in the world has condemned the practice.Got a news tip? Want to share your story? Email us .last_img read more

Direct flights from Fiji to Adelaide to take off in 2017

first_imgDirect flights from Fiji to Adelaide to take off in 2017This morning the South Australian Government made the announcement that Fiji Airways flights between Adelaide and Nadi would begin in June 2017.The new service will operate twice a week during peak season from 30 June 2017. It will utilise a Boeing 737 offering economy and business class seating options.Adelaide Airport Managing Director Mark Young said the new partnership would also act as a mid-point stop off between Australia and the United States.“Fiji has always been a hugely popular destination with South Australian travellers, and Fiji Airways’ new link will make it even more attractive,” he said.“This creates another one-stop connection with the US West Coast with the added bonus of being able to stopover in beautiful Fiji.”Young said Qantas Frequent Flyers would be able to earn and use points on the service because of the airline partnership between Fiji Airways and Qantas.About 350,000 Australians visit Fiji every year and the new flight pattern is expected to boost that number.Flights from Fiji to South Australia will depart from Nadi at 4.30pm and arrive in Adelaide at 8.30pm on Monday and Friday.Services from Adelaide will depart at 10.00pm on Monday and Friday and arrive in Nadi at 5.35am the following morning (all times local).Fiji Airways is the third international airlines to announce direct flights into Adelaide this year.Qatar Airways began direct flights between Doha and Adelaide in May, where it became the first airline to use the new generation A-350 in Australia.It was followed by China Southern Airlines, which earlier this month launched a new Guangzhou and Adelaide direct link.Flights between Fiji and South Australia are now available for booking. Fiji Airwaysfor more information, visitSource = Fiji Airwayslast_img read more

Flagstar to Sell 407B in Servicing Rights to REIT

first_img December 19, 2013 541 Views Flagstar to Sell $40.7B in Servicing Rights to REIT Acquisitions Agents & Brokers Attorneys & Title Companies Fannie Mae Ginnie Mae Investors Lenders & Servicers Mortgage Servicing Rights REIT Service Providers 2013-12-19 Tory Barringer in Secondary Market, Servicingcenter_img Share The holding company for “”Flagstar Bank””:””:https://www.flagstar.com/ announced late Wednesday the bank unloading a large portion of its mortgage servicing rights (MSRs) to a real estate investment trust (REIT) in a $500 million deal.[IMAGE]Flagstar Bancorp, Inc., announced a deal with Matrix Financial Services Corporation, a subsidiary of “”Two Harbors””:http://www.twoharborsinvestment.com/, an REIT. According to Flagstar’s announcement, the agreement covers the sale of $40.7 billion in unpaid principal balance on residential MSRs, an amount making up about 55 percent of Flagstar’s mortgage loans “”serviced-for-others”” portfolio. The pool of loans covered in the deal is made up of loans originated mostly after 2010 and serviced for Fannie Mae and Ginnie Mae, the announcement says.Per the companies’ agreement, Flagstar will act as the sub-servicer on all of the loans underlying the MSRs, taking income from sub-servicing and retaining a portion of the ancillary fees. That portion of the agreement will remain in effect as long as the loans remain outstanding.The acquisition is expected to close by the end of 2013.For Flagstar, the deal represents an opportunity to reduce the firm’s MSR concentration and strengthen its balance sheet, says Lee Smith, COO.””Equally important, we are able to utilize Flagstar’s servicing platform to generate on-going servicing revenue and diversify the Company’s operations. We believe our re-branded servicing platform presents an attractive opportunity for organizations that are looking to purchase MSRs and have Flagstar sub-service these loans, and we believe there is a growing market for such services,”” Smith went on to say.Speaking on behalf of his company, Two Harbors president and CEO Thomas Siering said the transaction “”represents substantial ongoing progress related to our MSR investment initiative.””last_img read more