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2025-01-20
The Ethiopian Capital Markets Authority (ECMA) has adopted a new directive on recognition and supervision of self-regulatory organizations or SROs as part of its push to establish a regulated stock market in the country. The directive says SROs “play a valuable role in developing and enforcing standards of conducts for market participants, fostering fair competition and reducing regulatory burdens” on the ECMA. The 2021 Capital Market Proclamation empowers the Authority to institute procedures to recognize and delegate certain powers and duties to SROs. “We’re proud to announce that the Recognition and Supervision of Self-Regulatory Organizations Directive has officially been approved by the Ministry of Justice,” the Authority says. It is now registered under Directive Number 1031/2024. Regulator of the soon to be launched capital markets says “this groundbreaking directive sets the stage for entities recognized as SROs by the 2021 proclamation. It also applies to Securities Exchanges and Securities Depository and Clearing Companies in relation to their functions as SROs. “This milestone marks a crucial step in fostering a well-regulated, vibrant capital market ecosystem,” ECMA states. The directive outlines application procedures and specific regulation requirements that entities have to meet to get recognition as a Self-regulating organization. It also mandates SROs to admit only licensed capital market service providers as members, and have a “fair transparent procedure” for admitting new members. SRO will also prioritize protecting investors, promoting market integrity and reduction of systemic risks, and professionalism by developing and issuing rules and regulations that govern the behaviors and activities of its members and capital issuers. It also sets operating requirements for its members, enforces its rules on its members, conducts market surveillance and investigations, and other duties granted by the Capital Market Authority. This is the second directive that the Authority enacted in two weeks in preparation for the launching of Ethiopia’s securities exchange. Ethiopia’s Securities exchange is expected to launch its operations next month. It “will be the very first modernized securities exchange in our country’s history,” Mamo Mihretu, Governor of the National Bank of Ethiopia (NBE), said during the recent Capital Market Summit. The summit held earlier in mid November saw authorities announce more steps towards establishing a regulated stock market in the country. Among them was the enactment of a directive governing initial public offerings (IPOs) and trading of shares and securities. ECMA Director General Hanna Tehelku said the directive has come into force as of Thursday Nov 14, 2024. The Central Bank is also closing on setting up a dedicated Central Securities Depository – a core infrastructure element needed for the recording and trading of securities such as equities and bonds. It is scheduled to be ready for operations next month. “And now... we are on the cusp of launching in just a matter of weeks a full-fledged stock market in the form of the Ethiopian Securities Exchange,” NBE Governor Mamo said. “This marks a truly momentous occasion and a genuine turning point in Ethiopia’s financial history.” The Exchange will transform Ethiopia’s primary bond market to secondary, creating a stock market ecosystem for trading of various types of shares and securities. Ethio Telecom’s $255 million IPO is scheduled to be the first to be traded on the exchange when it officially starts operating next month.Musk-Altman Rivalry Intensifies With Trump's Appointment of David SacksNonesuper ace cheat

Talen Energy Corporation Announces Closing of Incremental Term Loan B Financing and Related Repurchase of Common Stock

An Italian renewable energy giant and Japan's largest oil and gas company are plugging into Australia's clean energy resources under the banner of a new company. Potentia Energy will be launched at the Sydney Opera House on Monday as an Australian renewable energy firm co-owned by Rome-headquartered Enel Green Power and INPEX. With rights in place for a development pipeline of over seven gigawatts across the country, Potentia is most focused on developing and acquiring assets in NSW, Queensland and Western Australia, chief executive Werther Esposito told AAP. The company is not deterred by the risk of political change, with opinion polls favouring the coalition ahead of the 2025 federal election. "The energy transition will go ahead in any case. There could be an acceleration or slowing down in the process," Mr Esposito said. "Renewables represent, from a technical and economic perspective, the solution for climate change," he said. "I don't think any government could deny that today wind and solar are cheaper than other technologies, and are faster in reaching the phase of deployment and construction and then supply of renewable energy." NSW had suffered some planning delays that had hit investment but there had been a "strong improvement" in the past 12 to 18 months, he said. The company also has a stake in Queensland, particularly in the north's Copperstring area, where the recently elected LNP government has pledged to stick by a massive transmission project begun under Labor. Enel won the bidding in 2024 to develop renewable energy to power a vanadium mining and processing project, which is one of a number of giant resources projects intended to be connected to the $9 billion Copperstring transmission line from Townsville to Mt Isa. WA offered a "huge opportunity" for the deployment of wind farms and battery energy storage systems, Mr Esposito said. With a decades-long footprint in Australia's north and west, INPEX is Japan's largest fossil fuel exploration and production company. Under pressure to reduce its global contribution to climate change, INPEX is already developing the production of liquid hydrogen and ammonia. "They elected Australia as the market to start diversification of the energy mix and huge investment in renewables," Mr Esposito said. "Of course in this regard, Australia is the place to be," he said. Enel and INPEX joined forces in a share purchase agreement in 2023, with the renewables business operating plants comprising 310 megawatts of solar capacity across South Australia and Victoria and a 75MW wind farm in Western Australia. A 93MW solar farm is under commissioning in Victoria and financial close was recently announced for a hybrid 98MW solar and 20MW battery project in NSW. But with international firms lining up to exploit clean energy resources, Australians living alongside projects are demanding a share of future profits through community funds, power bill rebates and other benefits. "The energy transition should be just. To be just it means that you need to support the communities and involve the communities in a proper way," Mr Esposito said. He said Enel was proud of its legacy in providing support to areas facing a changing landscape and the impact of new infrastructure, including community funds, a focus on local hiring and providing training to support new jobs. "It's an approach that is, for us, absolutely a pillar of our strategy," he said. "We are still facing some regulatory ambiguity in what a social licence means, and we are trying to be a leader in the industry in helping and supporting all the key stakeholders in determining and defining what it is."Anthony Tucker Reunited with Family After Nearly Two Months Missing

With over five million units sold globally in the past year, Tineco reinforces its leadership in the industry SEATTLE , Nov. 26, 2024 /PRNewswire/ -- Today, Tineco is proud to announce that Euromonitor International, the world's leading independent provider of strategic market research, has recognized the company as the #1 global leader in the household wet & dry vacuum cleaner category*. With over five million units sold between July 1, 2023 , and June 30, 2024 , the honor reflects Tineco's commitment to innovation and quality in the home cleaning sector. Harnessing more than two decades of industry innovation, Tineco began its journey with a single vacuum cleaner. Pioneering industry excellence, a notable moment in company history was the launch of the first-ever smart vacuum to market in 2018, quickly followed by an inaugural smart floor washer in 2019, and an intelligent carpet cleaner in 2022. Today, Tineco products are enjoyed by 14 million users across key markets worldwide, including regions in North America , Europe , and Asia . Tineco is now a globally recognized market leader in smart home appliances across the floor care, kitchen, and personal care categories, with 975 patents and 577 registered trademarks across domestic and international markets. For three consecutive years, the company has also held the title of being the #1 wet & dry vacuum brand on Amazon in the United States , Canada , France , Italy , Australia , and Japan . "At Tineco's inception, we set out to simplify life and household tasks with the help of smart technology. Over the past 26 years, our robust R&D team has made significant investments and a steadfast dedication to setting the standard for excellence in floor care solutions," said Ling Leng , CEO of Tineco. "The honor of being named the #1 global leader in the wet & dry vacuum cleaner category by Euromonitor International is an incredible milestone achievement. This recognition fuels our commitment to continuing to innovate and push boundaries to bring exceptional products to market that enhance the lives of our customers worldwide. Looking ahead, we are laser-focused on making Tineco more accessible by expanding into new markets, introducing new advanced technologies to simplify our customers' lives, and expanding our product lineup to meet diverse needs." Tineco's flagship models, including FLOOR ONE Stretch S6 , PURE ONE Station 5 , and Carpet One Cruiser , combine intelligent features with superior power and user-friendly capabilities to revolutionize cleaning. Tineco's R&D team has carefully engineered each model to address real-world challenges and enhance user satisfaction by incorporating technological advancements and valuable consumer feedback. Specifically: FLOOR ONE Stretch S6: Building off the incredible success of Tineco's social-media viral Floor Washers, which vacuum and mop simultaneously, FLOOR ONE S6 offers exceptional maneuverability. Its 180° tilting design lets the floor washer lay completely flat, compressing its height to just 5.1 inches. Coupled with mini assistive wheels that swivel 45° to the left and right, this makes cleaning under furniture, beds, or in hard-to-reach areas effortless. PURE ONE Station 5: Setting a new standard in stick vacuums, the PURE ONE Station 5 provides a brand new vacuum after each and every clean. Its 3-in-1 Smart Station will entirely self-clean, charge, and store the unit, keeping it in pristine condition for subsequent use. Paired with 175W of powerful suction, this is an indispensable tool for households of all types and sizes. Carpet One Cruiser: The Carpet One Cruiser is designed to transform deep cleaning carpets into a regular household activity. It effectively deep cleans various carpet types and powerfully extracts water to reduce drying times by 50% or more than traditional models. Three levels of SmoothPower tech, bidirectional assist wheels, and repositioned water tanks lessen the unit's weight, making the machine easy to maneuver, suitable for users of all ages and strengths, and ideal for frequent use. A leader in the intelligent floor care category, Tineco smart models are equipped with Tineco's proprietary iLoop technology that adjusts suction power in real-time based on the mess detected, which not only optimizes battery power but also allows the user to visualize cleaner floors on the unit's display ring that will change from red to blue once the surface is clean. Guided by customer insights, all new Tineco models also feature self-cleaning capabilities that significantly streamline maintenance. Tineco products are available globally, with distribution in North America on Amazon, Tineco's official online store, and in over 10,000 major retail locations, including Target, Walmart, Best Buy, Costco, Home Depot, and Canadian Tire. To learn more about Tineco and its entire portfolio of intelligent stick vacuums, floor washers, carpet cleaners, and more, please visit us.tineco.com . *Source: Euromonitor International ( Shanghai ) Co., Ltd.; measured in terms of 2023 H2 and 2024 H1 retail sales volume in the world; household wet & dry vacuum cleaners are defined as household cleaners that dispense clean water (or cleaning solution) to wash hard floors and vacuum the dirty water and garbage thereafter; research completed in Nov. 2024 . About Tineco Tineco was founded in 1998 with its first SKU as a vacuum cleaner and, in 2019, pioneered the first-ever smart vacuum. Today, the brand has innovated into a global leader offering intelligent appliances across home categories, including floor care, kitchen, and personal care. Tineco is dedicated to its brand vision of making life easier through smart technologies and consistently innovating new devices. For more information, visit us.tineco.com . Photo - https://mma.prnewswire.com/media/2564357/Tineco_Global_No1_Press_Release_US.jpgEvening Report — CEO killing ignites new culture debateNEW YORK — Same iconic statue, very different race. With two-way star Travis Hunter of Colorado and Boise State running back Ashton Jeanty leading the field, these certainly aren't your typical Heisman Trophy contenders. Sure, veteran quarterbacks Dillon Gabriel from top-ranked Oregon and Cam Ward of No. 15 Miami are finalists for college football's most prestigious award as well, but the 90th annual ceremony coming up Saturday night at Lincoln Center in New York City offers a fresh flavor this year. To start with, none of the four are from the powerhouse Southeastern Conference, which has produced four of the past five Heisman winners — two each from Alabama and LSU. Jeanty, who played his home games for a Group of Five team on that peculiar blue turf in Idaho more than 2,100 miles from Manhattan, is the first running back even invited to the Heisman party since 2017. After leading the country with 2,497 yards rushing and 29 touchdowns, he joined quarterback Kellen Moore (2010) as the only Boise State players to be named a finalist. "The running back position has been overlooked for a while now," said Jeanty, who plans to enter the 2025 NFL draft. "There's been a lot of great running backs before me that should have been here in New York, so to kind of carry on the legacy of the running back position I think is great. ... I feel as if I'm representing the whole position." With the votes already in, all four finalists spent Friday conducting interviews and sightseeing in the Big Apple. They were given custom, commemorative watches to mark their achievement. "I'm not a watch guy, but I like it," said Hunter, flashing a smile. The players also took photos beneath the massive billboards in Times Square and later posed with the famous Heisman Trophy, handed out since 1935 to the nation's most outstanding performer. Hunter, the heavy favorite, made sure not to touch it yet. A dominant player on both offense and defense who rarely comes off the field, the wide receiver/cornerback is a throwback to generations gone by and the first full-time, true two-way star in decades. On offense, he had 92 catches for 1,152 yards and 14 touchdowns this season to help the 20th-ranked Buffaloes (9-3) earn their first bowl bid in four years. On defense, he made four interceptions, broke up 11 passes and forced a critical fumble that secured an overtime victory against Baylor. Hunter played 688 defensive snaps and 672 more on offense — the only Power Four conference player with 30-plus snaps on both sides of the ball, according to Colorado research. Call him college football's answer to baseball unicorn Shohei Ohtani. "I think I laid the ground for more people to come in and go two ways," Hunter said. "It starts with your mindset. If you believe you can do it, then you'll be able to do it. And also, I do a lot of treatment. I keep up with my body. I get a lot of recovery." Hunter is Colorado's first Heisman finalist in 30 years. The junior from Suwanee, Georgia, followed flashy coach Deion Sanders from Jackson State, an HBCU that plays in the lower level FCS, to the Rocky Mountains and has already racked up a staggering combination of accolades this week, including The Associated Press player of the year. Hunter also won the Walter Camp Award as national player of the year, along with the Chuck Bednarik Award as the top defensive player and the Biletnikoff Award for best wide receiver. "It just goes to show that I did what I had to do," Hunter said. Next, he'd like to polish off his impressive hardware collection by becoming the second Heisman Trophy recipient in Buffaloes history, after late running back Rashaan Salaam in 1994. "I worked so hard for this moment, so securing the Heisman definitely would set my legacy in college football," Hunter said. "Being here now is like a dream come true." Jeanty carried No. 8 Boise State (12-1) to a Mountain West Conference championship that landed the Broncos the third seed in this year's College Football Playoff. They have a first-round bye before facing the SMU-Penn State winner in the Fiesta Bowl quarterfinal on New Year's Eve. The 5-foot-9, 215-pound junior from Jacksonville, Florida, won the Maxwell Award as college football's top player and the Doak Walker Award for best running back. Jeanty has five touchdown runs of at least 70 yards and has rushed for the fourth-most yards in a season in FBS history — topping the total of 115 teams this year. He needs 132 yards to break the FBS record set by Heisman Trophy winner Barry Sanders at Oklahoma State in 1988. In a pass-happy era, however, Jeanty is trying to become the first running back to win the Heisman Trophy since Derrick Henry for Alabama nine years ago. In fact, quarterbacks have snagged the prize all but four times this century. Gabriel, an Oklahoma transfer, led Oregon (13-0) to a Big Ten title in its first season in the league and the No. 1 seed in the College Football Playoff. The steady senior from Hawaii passed for 3,558 yards and 28 touchdowns with six interceptions. His 73.2% completion rate ranks second in the nation, and he's attempting to join quarterback Marcus Mariota (2014) as Ducks players to win the Heisman Trophy. "I think all the memories start to roll back in your mind," Gabriel said. Ward threw for 4,123 yards and led the nation with a school-record 36 touchdown passes for the high-scoring Hurricanes (10-2) after transferring from Washington State. The senior from West Columbia, Texas, won the Davey O'Brien National Quarterback of the Year award and is looking to join QBs Vinny Testaverde (1986) and Gino Torretta (1992) as Miami players to go home with the Heisman. "I just think there's a recklessness that you have to play with at the quarterback position," Ward said. Get local news delivered to your inbox!MINNEAPOLIS (AP) — A Connecticut couple has been charged in Minnesota with being part of a shoplifting ring suspected of stealing around $1 million in goods across the country from the upscale athletic wear retailer Lululemon. Jadion Anthony Richards, 44, and Akwele Nickeisha Lawes-Richards, 45, both of Danbury, Connecticut, were charged this month with one felony count of organized retail theft. Both went free last week after posting bail bonds of $100,000 for him and $30,000 for her, court records show. They're due back in Ramsey County District Court in St. Paul on Dec. 16. According to the criminal complaints, a Lululemon investigator had been tracking the pair even before police first confronted them on Nov. 14 at a store in suburban Roseville. The investigator told police the couple were responsible for hundreds of thousands of dollars in losses across the country, the complaints said. They would steal items and make fraudulent returns, it said. Police found suitcases containing more than $50,000 worth of Lululemon clothing when they searched the couple's hotel room in Bloomington, the complaint said. According to the investigator, they were also suspected in thefts from Lululemon stores in Colorado, Utah, New York and Connecticut, the complaint said. Within Minnesota, they were also accused of thefts at stores in Minneapolis and the suburbs of Woodbury, Edina and Minnetonka. The investigator said the two were part of a group that would usually travel to a city and hit Lululemon stores there for two days, return to the East Coast to exchange the items without receipts for new items, take back the new items with the return receipts for credit card refunds, then head back out to commit more thefts, the complaint said. In at least some of the thefts, it said, Richards would enter the store first and buy one or two cheap items. He'd then return to the sales floor where, with help from Lawes-Richards, they would remove a security sensor from another item and put it on one of the items he had just purchased. Lawes-Richards and another woman would then conceal leggings under their clothing. They would then leave together. When the security sensors at the door went off, he would offer staff the bag with the items he had bought, while the women would keep walking out, fooling the staff into thinking it was his sensor that had set off the alarm, the complaint said. Richards' attorney declined comment. Lawes-Richards' public defender did not immediately return a call seeking comment Monday. “This outcome continues to underscore our ongoing collaboration with law enforcement and our investments in advanced technology, team training and investigative capabilities to combat retail crime and hold offenders accountable,” Tristen Shields, Lululemon's vice president of asset protection, said in a statement. "We remain dedicated to continuing these efforts to address and prevent this industrywide issue.” The two are being prosecuted under a state law enacted last year that seeks to crack down on organized retail theft. One of its chief authors, Sen. Ron Latz, of St. Louis Park, said 34 states already had organized retail crime laws on their books. “I am glad to see it is working as intended to bring down criminal operations," Latz said in a statement. "This type of theft harms retailers in myriad ways, including lost economic activity, job loss, and threats to worker safety when crime goes unaddressed. It also harms consumers through rising costs and compromised products being resold online.” Two Minnesota women were also charged under the new law in August. They were accused of targeting a Lululemon store in Minneapolis.

Conor McGregor has maintained his innocence in a new public statement after being ordered to pay Nikita Hand $250,000 after a civil court case. The former UFC champion was found liable of assaulting Hand, who accused him of raping her in a Dublin hotel six years ago. A jury ordered McGregor to pay her damages on Friday. McGregor , 36, claims that he engaged in consensual sex with Hand , and has vowed to appeal the case. He broke his silence on social media with a post to X on Monday, and stated he is keen to move forward with his life and return to the UFC. "People want to hear from me, I needed time," McGregor wrote. "I know I made mistakes. Six years ago, I should have never responded to her outreaches. Every word Conor McGregor rape accuser said outside court after winning assault case Exclusive: Conor McGregor rape accuser praised for 'standing up to sports star' after 'vindicating' lawsuit "I should have shut the party down. I should never have stepped out on the woman I love the most in the world . That’s all on me. "As much as I regret it, everything that happened that night was consensual and all the witnesses present swore to that under oath. I have instructed my legal team to appeal the decision. "I can’t go back and I will move forward. I am beyond grateful to my family, friends and supporters all over the world who have stayed by my side. That’s it. No more. Getting back to the gym- the fight game awaits!" Hand believes that justice has been served , and is attempting to move on with her life while being supported by her family. Speaking outside the court after McGregor had been ordered to pay her damages, Ms. Hand said; "I am overwhelmed by the support I have received from everybody. I want to thank my legal team and my three barristers, they have been amazing from start to finish. "I want to thank the justice, the jury and all the witnesses. I want to thank the doctors, nurses and everyone at the sexual assault unit at the Rotunda assault unit, especially my own doctor. I want to thank the rape advice centre, I want to thank all the guards and the ambulance crew. "I want to thank the men and women who have supported me throughout this trial. For every person who reached out to me, a card, email, everything, it has not gone unnoticed. Thank you, I really appreciate it so much. "I want to thank my partner who has been so supportive for the last four years and has held my hand throughout this trial every day. I want to thank my mum and all my family and friends. I want to thank my daughter who I am most grateful for. She has given me so much strength and courage over the last six years through this nightmare to keep pushing forward for justice. "I want to show her and every other girl and boy that you can stand up for yourself if something happens to you, no matter who the person is, and justice will be served. To all the victims of sexual assault, I hope my story is a reminder that you have a voice and to keep on fighting for justice. "I know this has impacted my life, my daughter's, my family and friends' tremendously and it is something I will never forget for the rest of my life. But now that justice has been served I can now try and move on and look forward to the future with my family, friends and daughter."Hegseth meets with moderate Sen. Collins as he lobbies for key votes in the Senate

One of the biggest pieces of professional wrestling news has been Penta El Zero Miedo being removed from All Elite Wrestling's (AEW) roster, seemingly confirming that his contract is up and his time with the company has come to an end. However, there are still questions regarding whether his brother and tag team partner Rey Fénix will be joining, especially since he is still on the roster. More Professional Wrestling: WWE Legend Shawn Michaels Weighs In on Iconic Tucker Kraft Kip-Up Rumors suggest that Fénix wants to join his brother but AEW added time to his contract due to periods of injury. Now, it seems that Fénix has only added fuel to the fire. Fénix has recently taken to social media and dropped a vague accusation of "inhumane treatment." "No one stays in a place where they received inhumane treatment," Fénix said on X . No one stays in a place where they received inhumane treatment. This comes about a week after Fénix went on Instagram Live and dropped a quote about dissatisfaction and professionalism. "There are many things that are not known, but that also should not be talked about," Fénix said, per Jeremy Lambert and Luis Pulido of Fightful . "We must wait. Professionalism first and foremost, folks." More Professional Wrestling: Multi-Time WWE Champion Makes Surprising Return to AEW Fénix then proceeded to take a shot at professional wrestling podcasts that take shots at the people in the ring. "We must not be the same as all those podcasts that go around spitting out what should not be spit out. Never diminish our work. There are things that should always be respected, and many are forgetting everything that wrestling has given them." 👀 Rey Fénix, en un live de Instagram: "Hay muchas cosas que no se saben, pero que también no se deben de hablar. Hay que esperar. Profesionalismo ante todo, señores. No hay que ser los mismos de todos esos podcasts que andan escupiendo lo que no se debe de escupir. Nunca... pic.twitter.com/Qparw5ZaeF These comments came after Fightful Select reported that Fenix's contract had been extended into 2025 due to time off from injury. This is likely because Penta and Fénix, known as the Lucha Brothers, are planning to head to WWE. "When speaking to those with knowledge of the situation, it was claimed to Fightful that Rey Fénix's AEW contract extends well into next year due to the injury time that will be added to it," Fightful Select reported . More Professional Wrestling: Fan-Favorite WWE Superstar to Undergo Surgery After In-Ring Injury: Report "Fénix and Penta were expected to wrap up with AEW in the fall and head to WWE, but when AEW caught wind of it, added injury time to their deals." Fénix has had an impressive tenure in AEW, winning the AEW World Tag Team Championship, the AEW World Trios Championship, and the AEW International Championship. For more AEW and professional wrestling news, head on over to Newsweek Sports ."BRITAIN'S poshest migrant hotel" has been revealed as a £150-a-night palatial manor house. The 16th century Madeley Court Hotel, in Telford, Shropshire has been housing asylum seekers for the past three years. 10 Historical (pictured), standard and executive rooms are offered Credit: Madeley Court Hotel 10 Madeley Court Hotel is a 16th Century manor house Credit: Alamy 10 The lavish property has been dubbed 'Britain's poshest migrant hotel' Credit: Accor - by www.ctpimaging.co.uk The lavish accommodation has sparked fury, with some far-right activists even storming the venue in protest. Backlash was aired on social media as people vented their frustrations with the Home Office shelling out for the fancy hotel while pensioners saw their winter fuel allowance cut. Madeley Court Hotel has been used to house migrants since 2021, and it's understood most of them came from Afghanistan after the Taliban takeover the same year. It is now believed most of the asylum seekers are from Iraq after the council helped 325 people from Afghanistan integrate into the local community. Read More ASYLUM MISERY Seven more migrant hotels open costing £8million a DAY despite Labour vow But Madeley Court is not the only luxury hotel to house asylum seekers. Stoke Rochford Hall Hotel & Golf Resort near Grantham, Lincolnshire, which was once visited by Prince Harry and Meghan Markle, has also been used - although this has now stopped. Both the £175-a-night Stoke Rochford hotel and Madeley Court are run by the Talash Group, which has made deals with the Home Office, as reported by the Mail Online. The contracts allow the chain to take over hotels and turn them into migrant accommodation. Most read in The Sun STREET ATTACK Manhunt launched after girl, 15, sexually assaulted at Scots bus stop DIFFERENT LEAGUE Rangers boss Clement told 'don't make excuses' after surprising admission STRICKEN STAR Michail Antonio undergoes surgery on broken leg after horror car crash CITY CENTRE DRAMA Police lock down busy street in major Scots city after person hit by bus Madeley Court Hotel offers a range of standard, executive and historical rooms, all kitted out with flat-screen TVs, with the cheaper ones costing about £150-a-night. The "peaceful and historical surroundings" and complimented by its famously "superb service and cuisine". Inside shocking rise in asylum-seeker hotel 'takeovers' as Labour vowed to end their use - but we're forking £8m a DAY "It offers both the facilities of a modern hotel and the ambiance of a beautiful Manor House in countryside surroundings," reads the website. The 16th century Manor House is also a popular wedding venue, using a separate space called The Mill which can host up to 230 guests. Jasmine Hikami, an Iraqi migrant who is staying at Madeley Court told the Mail Online his family "love" living in the "safe" hotel. He said they "are looked after well" and praised their room and food. 10 Locals say security guards have intimidated them from using a public footpath through the grounds Credit: Alamy 10 Pub landlord Rose said she misses having Christmas meals at the hotel Credit: Madeley Court Hotel 10 The Mill is a separate building on the property that was used for weddings Credit: Madeley Court Hotel 10 Rooms can go for £150-a-night but are now unavailable to the public Credit: Madeley Court Hotel But the 18-year-old did moan about being forced to share a single room with his dad, 42, and younger brother. "We don't know who pays for it but we don't need to," Jasmine added. The teenager explained how their family have been in the UK for four months after fleeing the Iran war. "We would like more space, a bigger room or two rooms but we can't complain," he admitted. Jasmine and his dad are not working but said they were "thankful" for the British Government. He told of his aspirations to study and work, but at the moment he looks after his brother, 11, doing school drop-offs and pick-ups. However, some local residents have hit out at the hotel and expressed their anger over its new use. 'DREADFUL DECISION' Rose, the landlady of nearby The All Nations Inn, said: "It used to be a beautiful hotel but it was left to go to ruin." She said the renovation for asylum seekers has "angered a lot of local people". "Why are the paying public stopped from going there for our lovely Christmas meal and events as we have always done in the past?," asked the landlady. Rose said the hotel is now "swarming with security" and it is "probably us, the taxpayer" funding it. She speculated the owners have made a lucrative deal out of housing migrants and branded "money grabbing", "unfair" and a "dreadful decision". The place has been ruined now Rose Landlady of nearby The All Nations Inn "The refugees living there must have the poshest migrant hotel in the country," added Rose. But the heavy security guard presence has also stopped "intimidated" local residents from using a public footpath through the grounds. The bouncers are also "under strict orders" not to let anyone inside without an appointment, and are "sworn to secrecy" over occupants' identities. She then alleged hotel staff have left over the years because of "very rude" migrants. "The place has been ruined now," continued Rose. A punter in the pub agreed and said people are "devastated" by the decision to "ban" the public from Madeley Court Hotel. He also believed the owners must be "raking in a fortune" from the set-up. Another resident out walking her dog said while it is "a shame", she was not opposed to asylum seekers living there. "When I walk my dog I often see young children playing outside in the grounds, which is nice to see," she added. This comes as the Government revealed it plans to cut back on using hotels to home asylum seekers. INSIDE THE HISTORY OF MADELEY COURT HOTEL By Summer Raemason The 16th century Grade II listed Manor house was passed down to the Brooke family in 1553, nearly a decade after the Dissolution of the Monasteries. Then in 1651 the beautiful countryside property was used as a hiding spot by Charles II after he escaped from the Battle of Worcester and before fleeing to exile and France. Nearly a Century later, the manor was passed down to two Brooke sisters, Catherine and Rose. Catherine's portion was eventually passed down to her son John, who sold it in the late 1700s, while Rose's half was split between four daughters. The entire property was bought over time by a Quaker philanthropist called Richard Reynolds in 1781 and inherited by his family after his death. It belonged to descendants of the family until 1889, but by 1880 it had slipped into serious decline. Renovations took place in the early 1900s but it was deemed uninhabitable by the 1970s. In 1973 Telford Development Corporation began restoring the historical building, which was completed over the next decade. The manor house was transformed into a hotel inspired by architect Jim Roberts and became Madeley Court Hotel in 2014. It was closed in 2021 to home asylum seekers and still remains shut off from the public. A Home Office spokesperson told MailOnline: "This government inherited an asylum system under unprecedented strain, with thousands stuck in a backlog without their claims processed. "We have taken immediate action to restart asylum processing and are delivering a major uplift in returns to remove people with no right to be in the UK. Read more on the Scottish Sun 'vicious circle' I live in Scotland's benefits hotspot -I've only worked 4 years of my life SPLIT THE PACK I'm one of the best ever snooker stars but I wouldn't be if I was born later "Over the long term this will reduce our reliance on hotels and costs of accommodation. "We remain absolutely committed to ending the use of hotels for asylum seekers and continue to identify a range of accommodation options to minimise their use." 10 The Government revealed it plans to cut back on using hotels to home asylum seekers Credit: Madeley Court Hotel 10 A local punter said some residents are 'devastated' they can't use the venue Credit: Madeley Court Hotel 10 Jasmine Hikami, an Iraqi migrant who is staying at Madeley Court told the Mail Online his family 'love' living in the 'safe' hotel Credit: Madeley Court Hotel

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