India media fear pandemic finally brings end of the newspaper era

first_imgTopics : And according to some estimates, normal sales of more than 50 million newspapers a day across the country fell by two thirds.Hundreds of journalists have been laid off or seen wages slashed and in Mumbai, one charity is organizing food parcels for unemployed reporters.”India resisted the digital onslaught for a long time but now some city papers have gone and some of the national papers must be worrying about how will they get readers back,” one editor told AFP.English newspapers in Pune and Goa closed this month and nationals such as the Hindustan Times and Times of India, which had a circulation of more than two million before the crisis, have laid off scores of staff, cut wages and closed offices. The Hindustan Times said in an email to staff that it was losing about $500,000 a day. The Mathrubhumi regional newspaper, based in the southern state of Kerala, has seen advertising fall from up to $6 million a month to $500,000, said joint managing director Shreyams Kumar. ‘Pretty grim scenario’Indian newspapers had been hit by a faltering economy even before the pandemic, but N. Ram, a director of the group that publishes The Hindu daily and other regional papers, said events had become critical as advertising has “collapsed”.The group expects to lose millions of dollars. “We don’t know when the advertising market will recover,” he told AFP.According the World Association of Newspapers and News Publishers (WAN-IFRA), Indian newspapers and magazines used to attract about $3 billion dollars of advertising a year.Magdoom Mohamed, WAN-IFRA business development manager in India, said newspapers lost 75-85 percent of their advertising in March and April alone.While Indian media groups are starting to invest heavily in online news, Ram said the advertising did not compensate for the sudden losses.Indian journalists feel they have been badly treated by the panic measures, with wages cut and often paid late.Many say they have been going out to cover tragic stories on the coronavirus without proper protective equipment. “I came back one day to be told there was a pay cut,” said one at the Indian Express.”While the media has been facing the strain, the fact that it moved so fast to do these salary cuts at a time when there is extreme uncertainty and anxiety – it’s very unethical,” Geeta Seshu, co-founder of the Free Speech Collective said.”They have been showing a lack of concern for their employees.”The main media groups are concentrating more on the future of the business, say analysts.Consultancy KPMG had predicted before the pandemic that advertising revenue for newspapers would remain stable for a few years.”Now all that has changed,” said the newspaper editor, speaking on condition of anonymity as he had been told not to discuss company business.”It was only the over-35s who read newspapers and even they have had to get their news from digital sources and television for more than two months.”N. Chandramouli, chief executive of TRA Research, said that even before the pandemic, newspapers and television channels had laid off thousands of staff because of an economic slowdown.”Now it is a pretty grim scenario for the media world” with advertisers scared to spend, and media companies “have their back against the wall for survival”. Indian newspapers, which just a few months ago had defied the global trend by gaining circulation, are now buckling under the weight of coronavirus losses that have killed some off and critically wounded other big names.Newspapers have remained a mainstay in the country of 1.3 billion people in recent years, when the rise of digital news has seen sales slump around the world. But as a result of a lockdown that started on March 25 dailies were unable print, delivery boys were attacked by householders fearing they were also bringing the virus and — crucially — advertisers fled.last_img read more

Read More →

New IRS guidance on deducting business meal expense

first_imgWashington D.C. — The Internal Revenue Service issued guidance today on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA).The 2017 TCJA eliminated the deduction for any expenses related to activities generally considered entertainment, amusement or recreation.Taxpayers may continue to deduct 50 percent of the cost of business meals if the taxpayer (or an employee of the taxpayer) is present and the food or beverages are not considered lavish or extravagant. The meals may be provided to a current or potential business customer, client, consultant or similar business contact.Food and beverages that are provided during entertainment events will not be considered entertainment if purchased separately from the event.Prior to 2018, a business could deduct up to 50 percent of entertainment expenses directly related to the active conduct of a trade or business or, if incurred immediately before or after a bona fide business discussion, associated with the active conduct of a trade or business.The Department of the Treasury and the IRS expect to publish proposed regulations clarifying when business meal expenses are deductible and what constitutes entertainment. Until the proposed regulations are effective, taxpayers can rely on guidance in Notice 2018-76.Updates on the implementation of the TCJA can be found on the Tax Reform page of IRS.gov.last_img read more

Read More →

BRIDGET IS CROWNED DONEGAL’S ULTIMATE GAA FAN!

first_imgBridgid Mc Dyre winner of the Donegal’s best supporter pictured with Donegal Creameries Headquarters at Crossroads Killygordan with the Anglo Celt Cup. Photo Cristeph/Brian McDaidA young Dungloe woman has been crowned Donegal’s ultimate GAA fan!Bridget McDyer won the competition which was run by Donegal Creameries.Bridget was chosen from hundreds of Facebook and email entries from Donegal GAA fans across the county who support their county and local team through thick and thin, people who never miss an opportunity to cheer from the side-lines. The story of Bridget’s dedication to the Donegal team inspired the public to vote for her and other short-listed nominees on Donegal Creameries’ ‘Daisi’ Facebook page by ‘liking’ their stories.Bridgid Mc Dyre winner of the Donegal’s best supporter pictured with Donegal’s Martin Reilly and Asst Donegal Manager John Duffy pictured as they celebrate with the Anglo Celt Cup when they met up at Principal Sponsor Donegal Creameries Headquarters at the Crossroad, Killygordan. The are pictured with Donegal Creameries representative Breege Linsay Photo Cristeph/Brian McDaidShe made it through to the last five competition contenders thanks to the public vote where her entry then impressed the judges out of the final five finalists.Nominated by her father, 15 year old Bridget impressed the panel with her devotion to Donegal GAA.She started going to football matches at the age of four with her uncles and she hardly missed a game since, even at the expense of family occasions such as her parents’ 30th wedding anniversary and numerous family weddings. Last year, Bridget competed in the All-Ireland Track and Field Athletics Competition in Tullamore in Co. Offaly and she had barely finished her event when she made a dash to Clones for the Ulster Final.She literally wears her heart on her sleeve as nearly every outfit has the Donegal crest on it, she prides herself on wearing the county colours and all through her state exams Bridget wore a different Donegal jersey each day to bring her luck!Speaking about winning the competition Bridget said “I am delighted to have won ‘Donegal’s Biggest GAA Fan’ because my life revolves around the team and I never miss a game!“When I looked at the other nominees on the Daisi Facebook page, I saw that I am not alone with the love for Donegal GAA! I was up against some really stiff competition so I am really honoured to have won! I hope some of my luck rubs off on the Donegal team now as they progress through the championship- that would be the ultimate prize!”As the winner of ‘Donegal’s Biggest GAA Fan’, Bridget has received an amazing VIP package which included an overnight stay for two people in the team’s hotel the night before the Ulster Final. A meet-and-greet and photo opportunity with Jim McGuiness and some of the players ahead of the Ulster Final and a pair of tickets to all of Donegal’s remaining matches of the 2014season. Bridget also received a framed, signed jersey and two of the new team jerseys.BRIDGET IS CROWNED DONEGAL’S ULTIMATE GAA FAN! was last modified: July 31st, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:Bridget McDyerDonegal CreameriesDonegal GAAdungloelast_img read more

Read More →