International News
India Ratings Maintains Negative Outlook On NBFCs, Housing Finance Companies For Second Half Of FY21
Domestic rating agency India Ratings and Research on Thursday said it has maintained a negative outlook on Non-Banking Financial Companies and Housing Finance Companies for the second half of 2020-21.
It said growth in assets under management would be flattish for NBFCs as against its earlier estimate of 8-10% year-on-year, and in lower single digits for HFCs in 2020-21. “We have maintained a negative outlook on the non-banking finance company (NBFC, retail and wholesale) and housing finance company sectors for 2HFY21, amid Covid-19 related business disruptions,” the rating agency said.
It said that considering the unabated spread of the virus at pan-India level, time required for NBFC operations to return to normalcy could be prolonged.
Although the liquidity and funding environment has improved for better-rated entities after July, there would be asset quality issues impacting overall profitability in 2020-21 and beyond, it said.
While it has a negative outlook on most of the asset classes, the rating agency has maintained a stable outlook on securitisation transactions for the second half of 2020-21. It was backed by home loans, vehicle loans, secured business loan (loans against property) pools, given the seasoning and credit enhancement build-up in these transactions.
However, it has revised its outlook to negative from stable for the securitisation transactions backed by microfinance loans, unsecured business loans and construction equipment loans because of the uncertainty around slippages after moratorium.
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HBO defends JK Rowling’s involvement in Harry Potter series despite problematic stance on transgender community
JK Rowling, whose Harry Potter book franchise gave Warner Bros a blockbuster film franchise, is also associated with its upcoming HBO series.
JK Rowling has remained decidedly steadfast on her controversial stance on the transgender community. In a statement to Variety, HBO explained why the author is still involved in its upcoming series on Harry Potter despite her problematic gender politics. (Also Read: This Oscar-nominated actor lost out on Luna Lovegood role in Harry Potter, says how it ‘stayed with me over the years’)
What HBO said
“We are proud to once again tell the story of Harry Potter — the heartwarming books that speak to power of friendship, resolve and acceptance. JK Rowling has a right to express her personal views. We will remain focused on the development of the new series, which will only benefit from her involvement,” HBO’s statement stated.
It also added that its parent company Warner Bros “been working with JK Rowling and in the Harry Potter business for over 20 years” and “her contribution has been invaluable.” The report also states that HBO chief Casey Bloys informed the media at an event on November 12 that JK Rowling was “very, very involved in the process selecting the writer and the director,” and her anti-trans statements “haven’t affected the casting or hiring of writers or productions staff.”
A couple of days before that, Rowling had shared a screenshot of a tweet by an X user who wrote, “My disappointment is immeasurable and my day is ruined” when the author had revealed that she’s “very involved” in the Harry Potter series. Rowling wrote along with the screenshot, “I’ve only just seen this response to me saying I’m very involved in the Harry Potter TV show and I think I’ve pulled something laughing.”
About Harry Potter series
Warner Bros launched an open casting call for the leads Harry, Hermoine and Ron, who were played by Daniel Radcliffe, Emma Watson and Rupert Grint, respectively, in the eight-part movie franchise.
The series will most likely go ahead with newcomers for the top three characters and mix it with veterans for the adult cast, like the movie franchise, which featured Richard Harris as Dumbledore and roped in Michael Gambon after his death. Late star Maggie Smith played Professor McGonagall, and Alan Rickman starred as Professor Snape.
Mark Rylance, 64, who won an Academy Award for best supporting actor in 2016 for his work in Steven Spielberg’s Bridge of Spies, is reportedly at the top of the casting wishlist to play Dumbledore in the Harry Potter series.
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