#Leading UK Extended Reality Partners

[misshoneyimhomeagain]

Chapter 9 -

Summary: the hockey team and their partners discuss the approaching Christmas festivities, and Julia, who won't be returning home for the holidays, extends her kindness to those without holiday plans. Then, the focus shifts to the eagerly anticipated charity event, where laughter, strengthened bonds, and a touch of romance create an enchanting atmosphere.

Tags; William NylanderxOfc, soft!William; “We never go out of style”

Warnings; none

Author's Note: With Christmas on the horizon and the MLSE's fictional charity event approaching, I want to clarify that this event is entirely a product of imagination and not rooted in reality. I apologise if the chapter delves extensively into the gala's details, but my aim was to vividly convey the event's atmosphere. As always, I hope you find this chapter filled with evolving emotions enjoyable.

Words: 5.9K

“I look at you and I fantasise - You're mine tonight”   

Wednesday 30th - TOR 3 - SJS 1   

Wednesday turned out to be a proper nightmare and complete chaos at the office. To everyone's (insert sarcastic tone) delight, the managers had set an important deadline for the end of the following month, which turned everyone into tiny tornadoes resembling headless chickens.

Julia, on the other hand, found it rather amusing. Sure, she'd be swamped with work herself, and there was no doubt her patience would be pushed to the limit - but, nonetheless, December and Christmas held a special place in her heart. It was her absolute favourite time of the year, and despite all the chaos and sky-high stress levels at the office, she wouldn't let it get to her. During this special time of year, she’d always have a talent for keeping her mood and spirit high, soaking in all the happiness and joy, the Christmas music and lights on the streets along with snowy (or rainy in the UK) days, where one could cosy up inside with hot chocolate, a movie and a soft blanket. All mixed with the stress of purchasing presents causing small financial crises, too much food and weight gain, and fighting within each family arguing who makes the best turkey or cranberry sauce. Oh yes, she did love it all.

And to top it all off, Charlie added a little romantic Christmas spirit of her own.

"Finally," Julia chuckled warmly as she took her seat at her desk, facing Charlie, who had just shared some exciting news, following their morning briefing – she and Auston had officially become a couple, sealing the deal, and announcing themselves as boyfriend and girlfriend.

"What do you mean 'Finally'? We've only been going out for, what, three months..." Charlie said, playfully raising an eyebrow from across the desk.

“Perhaps so, but you two have been acting like a couple for weeks now, so it was only a matter of time before you put a label on it," Julia explained, sharing a light chuckle.

Charlie, always quick with a witty remark, couldn't resist teasing her friend. "So, what's your and William's excuse?" she commented, her laughter filling the air.

Julia, slightly baffled, yet with a grin across her face, was just about to respond with a comeback of her own when Andrew came and interrupted the girls' heartfelt conversation. "Saved by the bell," Charlie cheekily remarked.

And then the workday returned to its oh-so-joyful, hell-like atmosphere. But today's good news was that the girls had plans to attend tonight's home game.

And what a game it turned out to be.

The first period held nothing but the players skating back and forth, with shots on goal where every puck was saved by both goalies. The second period then brought about some excitement as Auston scored the match's first goal, putting the Leafs in the lead. However, the joy was short-lived, as the San José Sharks managed to secure a tie before the period ended. 

The excitement in the arena was palpable.

As the game progressed into the third period, it was as if the break had worked some magic for the Leafs. Engvall and Marner emerged as dominant forces, taking control of the game, much to the delight of the fans.

The crowd erupted with joy as the Leafs secured a resounding 3-1 victory for the home team. It was a sweet triumph, and the atmosphere was electric.

"Hey!" Mitch couldn't contain his excitement, shouting as Stephanie rushed to embrace him with a kiss. Charlie followed suit, greeting Auston with a warm embrace, and Tessa did the same with Mo. Laughter and affection filled the air.

Julia, though, found herself standing alone amidst the joyful embraces, and with a playful tone, she quipped, "Oh, that's right; I've got no one," earning a chuckle from the group.

"Oh, that's hurtful,“ William, never one to miss a chance to tease, said with a grin, as he joined the gathering with the rest of the Swedes. Julia simply chuckled at his playful remark, embracing him into a hug, and they all began chatting about the upcoming month, filled with various events. The charity event was of course a major topic of discussion, but they also shared their plans for Christmas, which was drawing closer. 

"Any exciting plans, JJ?” Auston, curious as always, turned to ask Julia, with his hand wrapped around his new girlfriend. “Are you going home to England or Denmark?”   

Julia gave a gentle shake of her head, a hint of disappointment in her voice as she replied softly, "Unfortunately, not. We've got an important deadline on the 22nd, so I've decided to stay here." Understanding nods of agreement spread among her friends, acknowledging the sacrifice she was making for work.

“You're okay with that?" Mitch expressed his concern.    

And simply Julia reassured them with a warm smile. "Of course," she chuckled. "Besides, both my brothers are celebrating with their girlfriends anyways, and my mum is with her new fling, and my father is with my grandmother, so it’s all good" she explained.   

"So, you don't have any plans at all?" Rasmus asked joining the conversation.    

"Well, actually, a colleague of mine, John Evans, has invited me and my boss, Andrew, to spend the evening with his family," she revealed, piquing the group's interest. "It's apparently something they do every year – they open up their home to those who don't really have anyone to spend the evening with. Though usually, not many people show up, but I thought it sounded like a great idea, so I offered to join in and help."   

"That's really sweet,” Stephanie expressed her admiration, “I mean, we'd obviously offer for you to join our family, but-"   

"It's okay, Steph,” Julia interrupted her with a warm smile. “I'm all good," she reassured her friend.   

"But it sounds like a great initiative,” Mitch chimed in, adding his thoughts. “There are probably also guys on this team who don't have their families around and can't go home because of the sport."   

Julia beamed and flashed a great smile. "Well, actually, they're all very welcome at our Christmas," she said, her warmth radiating. "I mean, it's open to everyone, and no one should be alone on Christmas eve, right? So, if anyone on the team wishes for a place to stay on the 25th, they are more than welcome to come along."   

The group of players was genuinely intrigued by Julia's generous offer, and they began discussing among themselves whether this could be a viable option for them.   

William, in particular, couldn't help but smile at her incredible generosity. She had a way of effortlessly making everyone on the team feel like family, and her warm smile and genuine concern for their holiday plans touched their hearts. Christmas could indeed be a challenging time for professional athletes, far from their families, and Julia's offer of a warm and welcoming celebration sounded like a perfect alternative.

With a friendly grin, he leaned in closer to his English friend, giving her a friendly squeeze, silently showing his appreciation for her. Amidst all the chatter about holiday plans and the laughter of friends, William felt grateful for the amazing friend he had in Julia.

_

Thursday finally arrived, marking the big night for MLSE's tenth Annual Benefit for Underprivileged Children - the Christmas gala.

Unfortunately, Julia found herself buried under a heavier workload than usual, which forced her to stay back at the office longer than originally intended, but, on the brighter side, Charlie had enough free time to meet up with the rest of the significant others to get ready for the event together. This left Julia alone, doing her best with her hair and makeup in the office’s restroom, with Camille on FaceTime of course, providing her with her stylist expertise. And fortunately, Andrew had offered to drive her to the gala, given he’d too had stayed back to finish of the work of the day. 

As the eventful evening was about to unfold, the group of Maple Leafs hockey players and their significant others gathered in the grand hall of the hotel, sharing their thoughts and feelings about the wonderful atmosphere and aesthetics of the gala. It was a night when everyone came together to show their love and support for the community, giving back to those less fortunate.

William, however, was feeling slightly out of place as the only one arriving without his date. Auston had an arm around Charlie; Mitch stood next to his fiancé Stephanie; Mo held Tessa closely; Tavares had Aryne und his arm; even Rasmus had his young blonde date by his side, standing next to Timothy, who had managed to bring his long-time crush - a feat that William had helped him achieve.

A light feeling of disappointment ran through his heart, though he knew that Julia would arrive as soon as she could. He understood how important her work was to her, and if anyone would understand her priorities, it should be professional athletes. And to his luck, his disappointment was cut short as Charlie spoke out, "Oh, yes," spotting Julia slightly nervously descending the staircase, her entrance prompting the rest of the group to turn their heads in the same direction.

And William couldn't hide his excitement as he saw his date for the night gracefully making her way down the stairs. Julia was dressed in her royal dark blue, floor-length gown with a daring slit that revealed a hint of her leg with each step. Her blue and golden heels peeked out beneath the dress, giving her 5”2 a few more inches, and her hair was elegantly styled in a low ponytail with loose curls. Her makeup was bold and striking, yet it enhanced her natural beauty, and her golden jewellery matched her clutch perfectly.

"Hey, Willy, I think you've got a bit of drool... right there," Justin Holl joked, teasing William as Julia reached the bottom of the stairs. And the comment wasn’t without reason, as his face showed nothing but pure admiration, looking intensely at the blonde woman, making her way into the hall.

“Oh, shut up,” William chuckled, trying to regain his composure, and started walking towards his absolutely stunning date, where she greeted him with a radiant smile.

"Hey," she spoke softly. "I'm sorry I'm late."

William couldn't help but chuckle lightly. "It's okay – just glad you didn’t leave me hanging."

"So, do I look alright?” Julia asked, an almost concerned smile appearing on her face, making him pause for a brief moment, letting out a deep breath.

"JJ, you look…" he struggled to find the words. "You look amazing," he then managed to articulate, even though a dozen other adjectives were running through his mind to describe her beauty.

Her smile grew wide. "Well, you did pick out the dress.”

"Maybe, but I didn't do the rest," William chuckled, gesturing to her impeccable styling. “It looks good.”

"Thanks, you don't look half bad yourself,” Julia chuckled, admiring William's dark blue, almost black tailored suit. His unruly hair had been nicely tamed, and his scruff was neatly trimmed. And most importantly, no moustache.

"Thanks, JJ."

With smiles lighting up their faces, William extended his arm, which Julia gladly accepted, and they walked back to the group together. She greeted the other guests with a warm smile, and they all exchanged compliments and kind words.

Of course, Rasmus couldn't resist a playful remark. "Didn't know you could clean up like this," he cheekily joked, giving Julia a compliment in his own mischievous way.

"And here I thought I might actually get a genuine compliment from you, Sandin," Julia replied with a playful smile, which earned a chuckle from the Swede. "But I'm just impressed you actually managed to find a date for yourself," she fired back with a wink.

“She drew the short straw,” William added, wearing a cheeky grin, which earned hearty laughter from the group and a playful huff from Rasmus.

And so, the group made their entrance into the gala, each holding a glass of champagne, their faces adorned with broad smiles, and their spirits soaring with joy and happiness.

The evening's hosts extended a warm welcome to all the attendees, sharing a few words and introducing the various groups and companies gathered for this worthy cause. The Maple Leafs, accompanied by their dates, found their seats, and before long, dinner was ready to be served. The atmosphere buzzed with vibrancy, and the room brimmed with excitement and happiness. The decor exuded elegance without going overboard, and a live band played lively jazz tunes, adding to the festive atmosphere. Tables were set with exquisite china, crystal glassware, and stunning floral centrepieces that added a touch of sophistication to the occasion.

Julia and William found themselves engrossed in lively conversations, discussing topics ranging from hockey to the upcoming holiday season with Sandin, Liljegren, Holl, and Kampf. Laughter and enjoyment punctuated their words, making it easy to forget the outside world and revel in the warmth of the moment. At the neighbouring table, Mitch and Auston, along with their dates, Tavares, Murray, and Rielly, engaged in their own animated discussions. The clinking of cutlery against plates created an anticipatory symphony as the gala's culinary delights began to arrive at their tables.

The starters were served to all the guests with an air of sophistication. Each plate held seared scallops atop a bed of mixed greens, elegantly drizzled with a zesty citrus dressing. The scallops were cooked to perfection, boasting a delightful crispness on the outside while remaining wonderfully tender within.

"Where do we even start?" Timothy, somewhat puzzled by the array of silverware, softly inquired, and Julia couldn't help but stifle a chuckle, her past experiences at gala dinners giving her familiarity with the proper etiquette.

"You start from the outside," she whispered, playfully winking, setting the table's other diners on the right path to enjoying the delectable meal.

"JJ," William confessed, "I don't even know which glass is for what."

Julia chuckled; her eyes filled with amusement. "Just follow my lead, and you'll do just fine."

Rasmus, always the cheerful presence, chimed in, "Who would have thought dinner could be this complicated? I just want to eat!"

Around the table, the uniformity of the dishes became apparent as everyone delved into their plates. Amidst the culinary indulgence, conversations flowed as the Maple Leafs players and their dates enjoyed both the fine cuisine and each other's company, savouring this sophisticated culinary experience.

The second appetiser made its grand entrance, continuing the culinary journey of the evening. On their plates, there was a beautifully seared foie gras, accompanied by a sweet and tangy fruit compote that provided a perfect balance to the richness of the foie gras. Each bite was a harmonious blend of textures and flavours that delighted the palate.

To everyone's amusement, Mitch couldn't hide his facial expressions, openly yearning for some pasta with sauce and not all this fancy stuff with more greens than he'd ever consumed in his entire life.

The main course was the pièce de resistance of the evening, and it was met with eager anticipation as it was brought to the tables. Each guest was presented with a beautifully plated filet mignon, cooked to perfection. The tender, juicy meat practically melted in their mouths, and it was accompanied by a luscious red wine reduction sauce that added a depth of flavour to every bite. On the side, there were creamy mashed potatoes, whipped to a velvety smoothness, and a medley of seasonal roasted vegetables that added a pop of colour and freshness to the dish.

As the guests savoured the main course, the room was filled with sounds of delight. Conversations flowed, and the Maple Leafs players and their dates shared their impressions of the exquisite meal.

"This beats any post-game meal, that's for sure," Rasmus quipped, his signature sense of humour shining through.

Dessert was the grand finale of the evening, and it was met with eager anticipation as the waitstaff elegantly placed each dessert plate in front of the guests.

The dessert was a work of art in itself – a rich and velvety chocolate mousse, adorned with a delicate chocolate ganache drizzle and garnished with fresh berries. The mousse practically melted in their mouths, and the bittersweet chocolate was perfectly complemented by the natural sweetness of the berries.

_

"Wise men say, only fools rush in."

As the night continued, people rose from their seats and started mingling around the tables and on the dance floor. Julia's heart swelled with affection as she observed William gracefully waltzing with an elderly lady. It was a heart-warming display of his charm and kindness, effortlessly connecting with people of all ages. The elegantly dressed lady wore a radiant smile that spoke volumes about her joy in his company.

Julia couldn't help but admire how William's genuine warmth and good nature made him not only a star on the ice but also in the hearts of those around him. It was moments like these that showcased his true character, and she felt fortunate to have such a remarkable friend and date by her side.

After a couple of dances, William gracefully escorted the elderly lady back to her seat, his smile reflecting the utmost respect he showed her. Her eyes sparkled with gratitude as she leaned in close and whispered into his ear, her voice filled with sincerity. "Thank you, young man. You've made this evening truly special for me."

William nodded graciously. "I appreciate the kind words," he replied, clearly moved by her heartfelt remarks. Intrigued by the meaningful exchange, Julia watched him as he re-joined their group at the table, her curiosity piqued.

"So, what was that all about, Willy?"

He grinned, a mischievous glint in his eye, as he sat down next to her. "Seems like our dance really left an impression on her," he said. "She wants to make a generous donation to the charity."

His words made Julia unable to hide her expression; her eyes widened in surprise and admiration. "That's wonderful. You've got quite the charm with the ladies, don't you?" she playfully teased, earning a chuckle from him.

"Sometimes, a simple dance can make a big difference,” William responded with a modest smile.

And Julia couldn't help but smile back, adding a touch of playful banter. "I'd say 'I told you so,' but her generous donation pretty much says it all," she said, earning another chuckle from William.

“Alright, time to dance!” Tessa then suddenly exclaimed, encouraging the group to join the dance floor.

Julia, however, had a different plan in mind. "Oh, I believe I need a stronger drink before I even set foot out there," she playfully remarked, earning nods and chuckles from her friends. Charlie chimed in, agreeing with a grin, feeling the need for some liquid courage before hitting the dance floor. Auston, ever the gentleman, took the opportunity to showcase his manners.

"Don't worry, babe, that shouldn't be a problem," he cheekily smirked, signalling to some of the other lads to fetch drinks for the ladies.

As the gents headed to the bar, the ladies were left to their own devices, quickly engaging in lively conversation, their laughter and chatter filling the air as they eagerly awaited their refreshing drinks. Shortly after, the men returned, each bearing a drink for their dates and non-alcoholic options for themselves, being mindful of the upcoming away game.

William, with a sly grin, handed Julia her drink. "Gin and tonic, with Hendricks," he offered, and she couldn't help but smile and admire how he had remembered her favourite beverage, a detail she had only mentioned once back in August.

"Thank you," she replied softly, accepting the drink, and the group settled in to continue their conversation.

Amidst the lively discussion, Julia couldn't resist stealing glances at William. Her mind wandered as she appreciated his thoughtfulness and his ability to remember so many details from their initial meeting. She thought about how with each interaction, he continued to impress her, deepening the connection she felt towards him. She was intrigued by the way he effortlessly navigated social situations, whether it was engaging in meaningful conversations or simply being attentive to the needs of those around him.

And her glances didn't go unnoticed. William's gaze locked onto Julia's as well, and for a brief, intimate moment, their eyes communicated feelings that words couldn't capture. It was a connection that transcended spoken language, a silent understanding that seemed to grow stronger with each passing moment. However, the spell was broken as the others diverted their attention, and they returned to the group conversation.

"Alright, let's go dancing now," Tessa announced, prompting the girls to make their way to the dance floor. Despite their elegant gowns, they moved gracefully, swaying to the music, while the gentlemen kept their undivided attention on their dates.

William's eyes remained fixed on Julia, captivated by her radiant happiness and beauty as she danced with her girlfriends. He couldn't help but admire the effort she had put into her appearance as his date for the evening, and her graceful movements on the dance floor only added to her allure.

After a few songs, the band decided to shift to melodies more suitable for slow dancing, setting the stage for couples to share intimate moments. As the girls prepared to make their way back to the table, William had a plan of his own.

He gracefully approached the girls and, with a charming smile, extended his hand to Julia. "Mind if I have the next dance?"

His words were delivered with a firm and confident tone, laced with a cheeky undertone, and he played the role of a slightly posh gentleman.

Julia couldn't help but smile at his playful act, and she was genuinely pleased by his request. With a nod and a warm smile, she agreed to accompany him back to the dance floor.

“Not at all,” Julia smiled, taking hold of his hand as they moved together. They effortlessly recreated the dance moves they had practiced in William's living room.

His hand found her waist, and hers rested on his shoulder as they swayed to the slow song, Elvis Presley's classic ballad "Can't Help Falling in Love" playing from the speakers.  

As they moved to the music, their eyes met, and a silent understanding passed between them. There was an undeniable chemistry in the air, and the world around them seemed to fade as they shared this special moment together. The music, the dimly lit room, and the feeling of William's hand in hers created an atmosphere of intimacy that was impossible to ignore.

“Thank you for tonight,” Julia whispered softly.  

“I think it should be me thanking you, JJ,” William cheekily replied. “For being my date.”  

“Well, I’m just glad that you invited me,” she said almost shyly.  

William leaned in closer, whispering softly, “I wouldn’t want anyone else here tonight.”  

Julia's blue eyes locked intensely with his as they danced so close that their bodies almost entirely touched. Her smile widened as she simply enjoyed the company of her best friend, allowing herself to be moved by the warm atmosphere.  

William couldn't help but smile as well. Their closeness brought warmth to his heart, and he relished having Julia so nearby. He truly meant what he said: he wouldn't want anyone else as his date. Julia had come to mean so much to him, and he was beginning to realise just how significant a place she held in his heart.  

Meanwhile, at the table, Mitch couldn't help but notice the undeniable chemistry between the two of them. So, he leaned into Auston with a mischievous grin. "I give it two weeks," he teased, hinting that he believed William and Julia would transition from friends to a romantic couple. 

Auston, equally playful, responded, "Alright, I'm guessing four weeks then. They won't admit it sooner." They made a bet based on their predictions. 

Mo, overhearing their conversation, chimed in with a laugh, "I'm in, too. I'll go with six weeks." Earning the other Swedes at the table joined in, offering their own timelines for when they thought William and Julia might officially become a couple. 

As the song came to a gentle end, they both returned to the present moment and broke apart, their smiles lingering as they re-joined the group, the warmth of their shared dance still filling the air between them.  

The evening had slowly grown late, and with the event winding down, guests began to make their way towards the exit. William, always the gentleman, offered to drive Julia home, a gesture she gladly accepted. The night air was cool and filled with a sense of magic as they made their way to his car.  

During the drive, they continued to talk about the wonderful moments of the evening. Laughter and shared memories filled the car, making the journey feel shorter than it was, and William couldn't help but steal glances at Julia, admiring her animated expressions and the way her eyes sparkled when she recounted funny anecdotes from the night.  

As they pulled up to her apartment building, Julia felt a surge of happiness. She couldn't contain her excitement and, feeling bold in the warm afterglow of the evening, she leaned in and placed a gentle kiss on William's cheek. "Goodnight, Willy," she said with a sweet, lingering smile.  

"Goodnight, JJ," he replied, his heart doing somersaults. He watched as she disappeared into her building, his mind racing with thoughts and emotions he hadn't fully explored before.  

On the drive back to his own place, the streets seemed quieter, the world a little different, and William couldn't help but reflect on the evolving feelings he had for Julia, who had become his close friend in such a short matter of time. 

Reaching her front door, and shedding her heels once inside, Julia felt the enchantment of her Cinderella fairy-tale waiver off. The evening had been nothing short of amazing; the atmosphere, the food, the company of her friends, and not to mention the company of William. Their dance had held them closely, and the entire night had filled her body with warmth and joy. She couldn’t help but smile to herself by the mere thought, as he undressed, removed her make-up and undid her hairdo. If anyone had asked her six months ago, if she’d ever imagine herself being involved in NHL gala events, not to mention attend games every week and spend time outside work with the team and their significant others, she would have responded with a firm ‘no’.

But tonight, as she was in bed post gala, she fell asleep with a smile on her face.

_   

Saturday 3rd - TMB 4 - TOR 3 

In the six days that followed, the Toronto Maple Leafs were back on the road, and much to Julia's joy, she had the delightful task of keeping Pablo and Banksy company while William was on the road. It had by now almost become her official responsibility as Willy’s best friend, and in her opinion best option, and she took it very seriously. She absolutely adored the two fluffy doodles, and not to mention spending some time a William’s condo was an absolute treat.

And of course, they had their regular calls and texting, for papa Willy to stay updated.

On Saturday, the Maple Leafs faced off against Tampa Bay in Florida, just a couple of days after the dazzling gala. Inside the locker room, the players went through their usual pre-game routines - getting those skates laced up and mentally revving themselves up for the impending challenge. The atmosphere was charged with anticipation, and the lads were itching to hit the ice.

However, despite a valiant effort from the Leafs, not even Mitch's impressive 19-game point streak, powered by his two goals, could secure a victory. The game concluded with a hard-fought 4-3 win for the Tampa Bay Lightning in overtime at Amalie Arena.

As they left the ice, the Maple Leafs held their heads high, knowing they'd played their hearts out and done their best. Although the loss was a tough pill to swallow, it served as a valuable lesson for the games to follow, and they were determined to learn from their mistakes and come back even stronger in the next showdown.

Inside the locker room after the game, emotions ran the gamut from disappointment to determination. The players analysed the game's highs and lows, breaking down their performance to pinpoint areas for improvement. 

However, Mitch, always quick with a witty remark, couldn't resist lightening the mood with a bit of playful teasing. So, he brought up William's evident attraction to Julia, which had been unmistakable at the recent charity event. With a mischievous grin, he raised an eyebrow and jestingly asked, "Hey, Will, what's the deal with you and JJ, eh? We all saw the sparks flying at that charity.”

The comment came a little out of nowhere, and if William hadn’t expected for it to have come sooner, it would probably have caught him off guard. However, William knew his teammates well enough to know that they’d noticed everything at the event, and though he held no regrets, he knew they’d dwelled on his actions and chatted among each other.

But despite the cheeky comment from Mitch, William, not so easily intimidated by the third degree, simply chuckled. "Oh, come on, Mitch, you're making things up. JJ’s just my best friend, nothing more."

"Hold on a second, I thought I was your best friend,” Rasmus chimed in, adding a touch of levity.

William laughed and tried to clarify, "You are! I mean, she's my best girl... friend... oh, come on, you know what I mean." His response earned more laughter from the teammates.

However, despite the quick and easy response from the talented Swede, the rest of the team wasn’t ready to let it go. Mitch’s cheeky remark had opened the flood.  

"Well, just make sure to invite us all to the wedding!" Auston chimed in with a grin.

"Yeah," Timothy added with a playful tone. "Maybe it should be an outdoor affair in Sweden or something," he jokingly suggested.

And all while the guys shared their thoughts and comments, William kept shaking his head offering smiles and chuckles. 

"I'll be your best man, maybe, unless you go with Alex, of course," Rasmus continued the banter.

"We're all free that day, just let us know when!" Mitch shouted before leaving the guest’ locker room.

"Oh, shut up," William laughed heartily, enjoying the jokes and tease of his teammates.

Amidst the laughter and the playful banter, William couldn't help but acknowledge that there was a kernel of truth in those boyish jokes. Julia was undeniably a close friend, and he couldn't deny the unique place she’d held in his heart since that intimate night back in August. And in his mind, she was more than just amazing; she had seamlessly become an integral part of the team's inner circle. Her mere presence infused the room with joy and happiness. What was even more extraordinary was how effortlessly he had managed to open up to her, sharing thoughts and feelings that he hadn't with anyone else. Julia was indeed someone out of the ordinary, and William couldn't help but cherish the bond they shared.

After the game, William wasted no time and immediately reached for his phone to call Julia as soon as he settled into his hotel room, and as her FaceTime call connected, a warm smile naturally crept onto his face. There she was, nestled on his familiar sofa, cocooned in a cosy blanket, with Pablo comfortably settled in her lap and Banksy faithfully by her side. The sight of her filled him with a sense of comfort and happiness.

"Hey, Willy," Julia greeted with genuine excitement as she answered the call, her eyes sparkling with warmth.

"Hey, JJ, feeling comfortable?" William chuckled; his voice laced with affection as he noticed how she had wrapped herself in his blanket.

Julia had just returned from a brisk walk with the dogs, making the most of the time between the end of the game and her awaited call with William. However, the weather had been rather awful, so she’d hurried back inside. "Honestly, I don't mind the cold at all, but the storm and the rain!" she chuckled, her cheeks slightly flushed from the cold weather. “I’m no fan…”

William joined in her laughter, and his heart swelled with fondness. "I thought you were used to it from England?"

"Well, yeah, but still, back then, I didn't have to walk dogs so late in the evening in bloody stormy weather," she added with a light laugh, her eyes reflecting the playfulness of their banter.

"Oh, I'm sorry. I guess next time, I'll just ask someone else to watch them then," William replied, adopting a mock-serious tone, his eyes gleaming mischievously.

"No, no, no," Julia pleaded, her voice filled with genuine concern. "That's not what I meant… please don't take them away from me." 

William couldn't help but continue laughing, his fondness for her growing with every passing moment. "Alright then, well, I'm sorry about the storm."

The tone of the conversation settled into a comfortable warmth, and they both sat there, smiles gracing their faces, bathed in the soft glow of the screen.

"It's alright, although I do dread getting home right now… so I'll just enjoy your sofa for a little while longer, though it doesn’t seem like it’ll wear off," she flashed him a sweet smile through the phone.

"JJ, you know… you can just stay there if you'd like."

Julia was slightly taken aback by his casual proposal, her eyes searching his for any hint of insincerity. "Oh… no, no thanks, Willy - I don't want to intrude on your private space..." Her voice held a hint of hesitation.

But William, ever nonchalant, simply chuckled, his eyes conveying a depth of warmth and sincerity. "JJ, I think we're a bit past that already," he replied, a soft smile playing on his lips. "I mean, you've probably already spent more time at my condo than me this season."

"Hmm… that may be a little true," Julia lightly giggled.

"Besides, it'd make me feel more at ease if I knew you didn't have to drive in that stormy weather…" William said softly and calmly, his voice carrying a note of concern.

Julia took a moment to gaze at the man through her phone, her heart touched by his consideration. She realised that his offer was indeed a splendid idea, as she could really use a warm bed and sooner rather than later.

So, she offered him a simple nod, her eyes reflecting gratitude. "Alright… but just for your sake," she casually joked. "I wouldn't want you to worry too much."

The two of them shared another moment of laughter, before William explained where everything she'd need was placed in the condo. Although she’d probably manage to find it herself as she’d come to know his place rather well by now. He even suggested she pick a t-shirt from his closet to sleep in, an idea she initially hesitated about but eventually decided was quite appealing.

"Thank you, Willy," Julia spoke softly, her voice filled with warmth, her fingers gently stroking Pablo in her lap.

"No problem, JJ, anything for you," William replied, before they turned in for the night. 

"Goodnight, Wonderboy, sleep tight." 

"Thanks, you too hjärtat," William replied with a soft smile, his voice filled with tenderness.

And with that, the call ended, and Julia made her way to William’s guests room to make herself comfortable.

#archive #we never go out of style

[spacetimewithstuartgary]

New realistic computer model will help robots collect Moon dust

A new computer model mimics Moon dust so well that it could lead to smoother and safer Lunar robot teleoperations.

The tool, developed by researchers at the University of Bristol and based at the Bristol Robotics Laboratory, could be used to train astronauts ahead of Lunar missions.

Working with their industry partner, Thales Alenia Space in the UK, who has specific interest in creating working robotic systems for space applications, the team investigated a virtual version of regolith, another name for Moon dust.

Lunar regolith is of particular interest for the upcoming Lunar exploration missions planned over the next decade. From it, scientists can potentially extract valuable resources such as oxygen, rocket fuel or construction materials, to support a long-term presence on the Moon.

To collect regolith, remotely operated robots emerge as a practical choice due to their lower risks and costs compared to human spaceflight. However, operating robots over these large distances introduces large delays into the system, which make them more difficult to control.

Now that the team know this simulation behaves similarly to reality, they can use it to mirror operating a robot on the Moon. This approach allows operators to control the robot without delays, providing a smoother and more efficient experience.

Lead author Joe Louca, based in Bristol’s School of Engineering Mathematics and Technology explained: “Think of it like a realistic video game set on the Moon – we want to make sure the virtual version of moon dust behaves just like the actual thing, so that if we are using it to control a robot on the Moon, then it will behave as we expect.

“This model is accurate, scalable, and lightweight, so can be used to support upcoming lunar exploration missions.”

This study followed from previous work of the team, which found that expert robot operators want to train on their systems with gradually increasing risk and realism. That means starting in a simulation and building up to using physical mock-ups, before moving on to using the actual system. An accurate simulation model is crucial for training and developing the operator’s trust in the system.

While some especially accurate models of Moon dust had previously been developed, these are so detailed that they require a lot of computational time, making them too slow to control a robot smoothly. Researchers from DLR (German Aerospace Centre) tackled this challenge by developing a virtual model of regolith that considers its density, stickiness, and friction, as well as the Moon’s reduced gravity. Their model is of interest for the space industry as it is light on computational resources, and, hence, can be run in real-time. However, it works best with small quantities of Moon dust.

The Bristol team’s aims were to, firstly, extend the model so it can handle more regolith, while staying lightweight enough to run in real-time, and then to verify it experimentally.

Joe Louca added: “Our primary focus throughout this project was on enhancing the user experience for operators of these systems – how could we make their job easier?

“We began with the original virtual regolith model developed by DLR, and modified it to make it more scalable.

“Then, we conducted a series of experiments – half in a simulated environment, half in the real world – to measure whether the virtual moon dust behaved the same as its real-world counterpart.”

As this model of regolith is promising for being accurate, scalable and lightweight enough to be used in real-time, the team will next investigate whether it can be used when operating robots to collect regolith.

They also plan to investigate whether a similar system could be developed to simulate Martian soil, which could be of benefit for future exploration missions, or to train scientists to handle material from the highly anticipated Mars Sample Return mission.

TOP IMAGE....Small Funnel Flow - The same experiments were set up in, both, simulation and reality to see if the virtual regolith behaved realistically. This test looked at how small (16 g) samples of material flowed through narrow funnels. Credit Joe Louca

LOWER IMAGE....Large Funnel Setup - The simulation was scaled up to test larger quantities of regolith. This example poured 0.5 kg of regolith through wider funnels, to compare against physical equivalents. Credit Joe Louca

#science #space #astronomy #physics #news #astrophysics

[robinmusselwhite]

Fun88asia

How to Choose the Right Online Casino for You

In the vast landscape of online casinos, selecting the perfect one can feel like navigating a maze. With countless options offering a plethora of games, bonuses, and experiences, finding the right fit becomes essential. Whether you're a seasoned gambler or a novice explorer of the digital casino realm, understanding the factors to consider can significantly enhance your gaming journey. Here’s a comprehensive guide on how to choose the right online casino tailored to your preferences.

First and foremost, prioritize safety and security. opt for platforms licensed by reputable regulatory bodies like the UK Gambling Commission or the Malta Gaming Authority. Look for SSL encryption to safeguard your personal and financial information from cyber threats. A trustworthy online casino ensures fair play and timely payouts, providing you with peace of mind during your gaming sessions.

Next, explore the game selection. A diverse array of games, including slots, table games, live dealer games, and specialty offerings, enriches your gaming experience. Check if the casino partners with leading software providers like Microgaming, Net Ent, or Playtech for high-quality gaming content. Additionally, ensure compatibility across devices for seamless access to your favorite games anytime, anywhere.

Bonuses and promotions can significantly enhance your gameplay and extend your bankroll. Look for welcome bonuses, free spins, and loyalty programs tailored to your preferences. However, scrutinize the terms and conditions, including wagering requirements and validity periods, to make informed decisions. A generous bonus package can amplify the thrill of gaming and boost your chances of winning big at the tables.

Moreover, assess the user interface and overall user experience. A user-friendly platform with intuitive navigation enhances your gaming pleasure. Seamless gameplay, fast loading times, and responsive customer support contribute to a positive gaming environment. Pay attention to the available payment methods, ensuring convenience and security in deposits and withdrawals.

Furthermore, delve into the casino’s reputation and customer reviews. Platforms with a solid reputation for reliability, transparency, and exceptional customer service deserve your attention. Explore online forums and review sites to gain insights from fellow players regarding their experiences with the casino. A reputable online casino cultivates a vibrant community of players, fostering camaraderie and engagement.

Lastly, consider additional features that align with your preferences. Some casinos offer sports betting, virtual reality gaming, or exclusive VIP programs for high rollers. Tailor your choice based on your interests and aspirations within the online gaming sphere.

In conclusion, selecting the right online casino entails a thorough evaluation of various factors, including safety, game selection, bonuses, user experience, reputation, and additional features. By prioritizing these criteria, you can embark on a rewarding gaming journey tailored to your preferences. Remember to stay informed, exercise responsible gaming practices, and most importantly, have fun. Whether you're a casual player seeking entertainment or a serious gambler aiming for the jackpot, the perfect online casino, such as Fun88asia awaits your discovery.

[fun88asia]

Fun88asia

How to Choose the Right Online Casino for You

In the vast landscape of online casinos, selecting the perfect one can feel like navigating a maze. With countless options offering a plethora of games, bonuses, and experiences, finding the right fit becomes essential. Whether you're a seasoned gambler or a novice explorer of the digital casino realm, understanding the factors to consider can significantly enhance your gaming journey. Here’s a comprehensive guide on how to choose the right online casino tailored to your preferences.

First and foremost, prioritize safety and security. opt for platforms licensed by reputable regulatory bodies like the UK Gambling Commission or the Malta Gaming Authority. Look for SSL encryption to safeguard your personal and financial information from cyber threats. A trustworthy online casino ensures fair play and timely payouts, providing you with peace of mind during your gaming sessions.

Next, explore the game selection. A diverse array of games, including slots, table games, live dealer games, and specialty offerings, enriches your gaming experience. Check if the casino partners with leading software providers like Microgaming, Net Ent, or Playtech for high-quality gaming content. Additionally, ensure compatibility across devices for seamless access to your favorite games anytime, anywhere.

Bonuses and promotions can significantly enhance your gameplay and extend your bankroll. Look for welcome bonuses, free spins, and loyalty programs tailored to your preferences. However, scrutinize the terms and conditions, including wagering requirements and validity periods, to make informed decisions. A generous bonus package can amplify the thrill of gaming and boost your chances of winning big at the tables.

Moreover, assess the user interface and overall user experience. A user-friendly platform with intuitive navigation enhances your gaming pleasure. Seamless gameplay, fast loading times, and responsive customer support contribute to a positive gaming environment. Pay attention to the available payment methods, ensuring convenience and security in deposits and withdrawals.

Furthermore, delve into the casino’s reputation and customer reviews. Platforms with a solid reputation for reliability, transparency, and exceptional customer service deserve your attention. Explore online forums and review sites to gain insights from fellow players regarding their experiences with the casino. A reputable online casino cultivates a vibrant community of players, fostering camaraderie and engagement.

Lastly, consider additional features that align with your preferences. Some casinos offer sports betting, virtual reality gaming, or exclusive VIP programs for high rollers. Tailor your choice based on your interests and aspirations within the online gaming sphere.

In conclusion, selecting the right online casino entails a thorough evaluation of various factors, including safety, game selection, bonuses, user experience, reputation, and additional features. By prioritizing these criteria, you can embark on a rewarding gaming journey tailored to your preferences. Remember to stay informed, exercise responsible gaming practices, and most importantly, have fun. Whether you're a casual player seeking entertainment or a serious gambler aiming for the jackpot, the perfect online casino, such as Fun88asia, awaits your discovery.

[webstep-technologies]

Best kotlin app development agency in UK

In the dynamic landscape of app development, finding the right partner to bring your vision to life is crucial. Look no further than our esteemed agency, leading the charge in Kotlin app development in UK. We pride ourselves on offering unparalleled expertise, tailored solutions, and unwavering commitment to excellence.

Why Kotlin?

Kotlin has emerged as a powerhouse in the realm of app development, renowned for its versatility, performance, and seamless integration with Java. Its concise syntax and robust features empower developers to build scalable and feature-rich Android applications with ease. As the preferred language for Android development, Kotlin offers a competitive edge in delivering innovative solutions to meet the evolving needs of businesses and users alike.

Why Choose Us?

Unmatched Expertise: Our team comprises seasoned Kotlin developers with a wealth of experience in crafting bespoke Android applications. Leveraging their expertise and in-depth knowledge, we deliver solutions that are not just functional but also future-proof, ensuring longevity and scalability for your app.

Tailored Solutions, Every Time: We understand that one size does not fit all. That's why we take a personalized approach to app development, working closely with our clients to understand their unique requirements, objectives, and target audience. From concept to deployment, we collaborate every step of the way to ensure that the final product aligns perfectly with your vision.

Rigorous Quality Assurance: Quality is ingrained in our DNA. We adhere to stringent quality assurance practices, conducting thorough testing and code reviews to ensure that every aspect of your app meets the highest standards of performance, reliability, and security.

Timely Delivery, No Compromises: We understand the importance of time-to-market in today's competitive landscape. Our agile development methodology and efficient project management practices enable us to deliver projects on time, without compromising on quality or functionality.

Comprehensive Support and Maintenance: Our commitment to your success extends beyond the launch of your app. We provide comprehensive support and maintenance services to address any issues, implement updates, and ensure that your app remains optimized and competitive in the long run.

Embark on Your App Development Journey:

Ready to transform your app idea into a reality? Get in touch with us today to kickstart your app development journey. Whether you're a startup or an established enterprise, we have the expertise and resources to bring your vision to life and make a lasting impact in the world of Kotlin app development. Let's collaborate and create something extraordinary together!

[thxnews]

UK's Largest Crackdown on Money Mules

UK Money Mules Crackdown

In a landmark announcement today, Security Minister Tom Tugendhat laid out a robust framework aimed at intensifying the battle against the scourge of money mules within our borders. This endeavor is not merely a clampdown; it is a sophisticated strategy designed to dismantle the networks that exploit our nation's youth and vulnerable, turning them into unwilling accomplices in the laundering of illicit gains.   The Security Minister, Tom Tugendhat, said: I am determined to prevent heinous criminals who exploit our children and profit from it, and it is paramount we stop this vicious cycle. The Children’s Society’s invaluable work will protect victims who are being exploited while our wider action plan will ensure these evil criminals face the full force of the law.   The Gritty Reality of Money Muling At its core, nefarious entities ensnare individuals into moving and concealing illegally obtained money, unwittingly turning them into the lifeblood of operations involving drugs, human trafficking, and fraud. Moreover, the scale of this issue is staggering, with Cifas highlighting approximately 37,000 bank accounts in 2023 exhibiting signs of mule activity. Additionally, the National Crime Agency (NCA) estimates the amount of dirty money washed clean each year in the UK to be a whopping £10 billion. These alarming figures underscore the urgent need for concerted efforts to combat money laundering and its associated crimes. The demographic data reveals a concerning trend: nearly 23% of these mules are younger than 21, with a significant 65% under the age of 30. These youngsters often fall victim under the guise of easy money, only to find themselves shackled by the very gangs that seduced them with promises of wealth.   A United Front Against Financial Exploitation In response, the government, in conjunction with The Children’s Society, is pioneering an initiative to bolster awareness and education among those who are first to spot the signs of financial exploitation. Furthermore, this initiative includes the creation of a new Financial Exploitation Lead role, dedicated to enlightening front-line workers - bank employees, educators, and law enforcement - about the nuances of child financial exploitation. By equipping these professionals with the knowledge and tools needed to identify and intervene in such cases, we enhance our collective ability to safeguard vulnerable children from financial harm. Moreover, the unveiling of new front-line guidance marks a pivotal moment in our collective effort to shield potential victims from the clutches of money laundering networks, ensuring they receive the necessary protection and support.  

Educating the Young, Protecting the Future

The NCA's commitment extends into the educational realm, collaborating with the Association for Citizenship Teaching to develop a curriculum that addresses the dangers of money muling, phishing, and social media scams. Additionally, this educational outreach is a critical component of our strategy, aiming to inoculate our young against the advances of criminal syndicates. By fostering awareness and providing tools for protection, we empower the next generation to navigate the digital landscape safely and responsibly.   A Collaborative Effort to Eradicate Money Muling The action plan underscores a collaborative approach, involving the National Economic Crime Centre (NECC), the City of London Police, and various operational partners, both domestic and international. A notable development is the establishment of a new intelligence unit by the City of London Police, focusing on the identification and dismantling of money mule networks, a move that promises to significantly enhance our collective response to this threat.  

Key Takeaways and Reflections

This concerted money mules crackdown represents a beacon of hope, not only in the fight against money laundering but in our moral obligation to protect the vulnerable from being exploited by criminal enterprises. It's a clarion call for vigilance, collaboration, and education to safeguard our financial system and, more importantly, the futures of our young. As we reflect on this comprehensive strategy, it's essential to recognize the pivotal role each of us plays in this fight. Whether by staying informed, educating others, or simply being vigilant, we all have a part to play in eradicating the blight of money muling from our society. Sources: THX News, Home Office & The Rt Hon Tom Tugendhat MBE VR MP. Read the full article

#CityofLondonPoliceintelligenceunit #Collaborativeeffortsagainstmoneylaundering #Educationaloutreachonfinancialscams #Financialexploitationawareness #Front-lineguidanceonmoneylaundering #Moneymulescrackdown #NationalCrimeAgency(NCA)moneymuling #TheChildren’sSocietyfinanciallead #UKactionplanagainstmoneylaundering #thxnews

[jcmarchi]

New realistic computer model will help robots collect Moondust - Technology Org

New Post has been published on https://thedigitalinsider.com/new-realistic-computer-model-will-help-robots-collect-moondust-technology-org/

New realistic computer model will help robots collect Moondust - Technology Org

A new computer model mimics Moondust so well that it could lead to smoother and safer Lunar robot teleoperations.

The tool, developed by researchers at the University of Bristol and based at the Bristol Robotics Laboratory, could be used to train astronauts ahead of Lunar missions.

Working with their industry partner, Thales Alenia Space in the UK, who is interested in creating working robotic systems for space applications, the team investigated a virtual version of regolith, another name for Moondust.

Small Funnel Flow – The same experiments were set up in, both, simulation and reality to see if the virtual regolith behaved realistically. This test looked at how small (16 g) samples of material flowed through narrow funnels. Image credit: Joe Louca

Lunar regolith is particularly interesting for the upcoming Lunar exploration missions planned over the next decade. From it, scientists can potentially extract valuable resources, such as oxygen, rocket fuel or construction materials, to support a long-term presence on the Moon.

Remotely operated robots emerge as a practical choice to collect regolith due to their lower risks and costs than human spaceflight. However, operating robots over these large distances introduces large delays into the system, which make them more difficult to control.

Now that the team know this simulation behaves similarly to reality, they can use it to mirror operating a robot on the Moon. This approach allows operators to control the robot without delays, providing a smoother and more efficient experience.

Lead author Joe Louca, based in Bristol’s School of Engineering Mathematics and Technology explained: “Think of it like a realistic video game set on the Moon – we want to make sure the virtual version of moon dust behaves just like the actual thing, so that if we are using it to control a robot on the Moon, then it will behave as we expect.

Large Funnel Setup – The simulation was scaled up to test larger quantities of regolith. This example poured 0.5 kg of regolith through wider funnels, to compare against physical equivalents. Image credit: Joe Louca

“This model is accurate, scalable, and lightweight, so can be used to support upcoming lunar exploration missions.”

This study followed from previous work of the team, which found that expert robot operators want to train on their systems with gradually increasing risk and realism. That means starting in a simulation and building up to using physical mock-ups, before moving on to using the actual system. An accurate simulation model is crucial for training and developing the operator’s trust in the system.

While some especially accurate models of Moondust had previously been developed, these are so detailed that they require a lot of computational time, making them too slow to control a robot smoothly. Researchers from DLR (German Aerospace Centre) tackled this challenge by developing a virtual model of regolith that considers its density, stickiness, friction, and the Moon’s reduced gravity. Their model is of interest for the space industry as it is light on computational resources, and, hence, can be run in real-time. However, it works best with small quantities of Moondust.

The Bristol team’s aims were to, firstly, extend the model so it can handle more regolith, while staying lightweight enough to run in real-time, and then to verify it experimentally.

Joe Louca added: “Our primary focus throughout this project was on enhancing the user experience for operators of these systems – how could we make their job easier?

“We began with the original virtual regolith model developed by DLR, and modified it to make it more scalable.

“Then, we conducted a series of experiments – half in a simulated environment, half in the real world – to measure whether the virtual moon dust behaved the same as its real-world counterpart.”

As this regolith model is promising for being accurate, scalable and lightweight enough to be used in real-time, the team will investigate whether it can be used when operating robots to collect regolith.

They also plan to investigate whether a similar system could be developed to simulate Martian soil, which could benefit future exploration missions, or to train scientists to handle material from the highly anticipated Mars Sample Return mission.

Source: University of Bristol

You can offer your link to a page which is relevant to the topic of this post.

#aerospace #applications #approach #astronauts #Building #challenge #computer #computer models #construction #construction materials #dust #engineering #Engineering Mathematics #Environment #Explained #friction #fuel #Fundamental physics news #Future #game #gravity #how #human #Industry #it #Light #Link #mars #martian #material

[immigrationvisaservices]

Visa Service in Delhi

At [Your Consultancy Name], we take pride in being your trusted study abroad consultants, offering a comprehensive range of services to guide you seamlessly through the entire process. Visa Service in Delhi, our team is dedicated to making your dream of studying abroad a reality.

Our Services:

Expert Guidance on Study Destinations: Our team of experienced consultants provides personalized advice on choosing the right destination based on your academic goals, preferences, and budget. Whether it’s the bustling cities of Canada, the scenic landscapes of New Zealand, or the historic charm of the UK, we ensure you make an informed decision.

University and Course Selection: We understand that selecting the right university and course is crucial. Our consultants work closely with you to identify institutions that align with your academic aspirations and career objectives. We have established partnerships with leading universities to facilitate a smooth application process.

Application Assistance: Navigating through the application process can be complex, with each country having its own set of requirements. We provide comprehensive support, from preparing application documents to ensuring compliance with admission criteria, giving you the best chance of acceptance.

Visa Services: Securing a visa is often the most daunting aspect of studying abroad. Our dedicated visa services ensure that you are well-prepared for the application process. We guide you through documentation, interview preparation, and any other requirements to enhance your visa approval prospects.

Pre-Departure Support: As you prepare to embark on your study abroad journey, our services extend to pre-departure assistance. We offer guidance on accommodation, travel arrangements, and other essential aspects, ensuring a smooth transition to your new academic environment.

Why Choose Us?

Personalized Approach: We understand that each student is unique. Our consultants take the time to understand your individual needs, preferences, and goals, tailoring our services to ensure a personalized experience.

Expertise and Experience: With years of experience in the field, our consultants are well-versed in the nuances of the study abroad process. We stay updated on the latest policies and trends to provide accurate and reliable guidance.

Global Network: Our extensive network of partnerships with universities and educational institutions around the world enables us to offer a diverse range of options, ensuring you find the perfect fit for your academic journey.

Conclusion:

At [Your Consultancy Name], we are committed to being your partners in the pursuit of global education. Our comprehensive range of services, coupled with a personalized approach, aims to make the study abroad journey a seamless and enriching experience. If you dream of studying in Canada, Australia, New Zealand, Ireland, the USA, or the UK, let us be your guide on this exciting adventure. Contact us today and unlock the doors to a world of opportunities.

Visa Service in Delhi

Delhi Visa Agent Contact Number

Best Visa Service in Delhi

Tourist Visa Service in Delhi

>> >>

#immigration #visaconsultants #canadaeducation #visaservices #visa consultancy services #visa for canada #australiaimmigration

[allimmigrations]

Navigating UK Expertise from All Immigration Consultants

The journey towards the UK can be both exciting and complex. As aspirations of living, working, or studying in the United Kingdom take shape, the need for guidance and support becomes paramount. This is where the role of UK immigration consultants comes into play. For individuals in India seeking comprehensive assistance for their UK dreams, All Immigration Consultants are the trusted partners to turn to.

Your Path to Success

Navigating the UK can be challenging, especially for those based in India. This is where the expertise of UK immigration consultants India based like becomes invaluable. Consultants specialize in offering tailored advisory services for individuals and families planning to visit, reside, or extend their stay in the UK, USA, and EU. Their experienced team of immigration specialists is dedicated to removing the stress from any process, maximizing the chances of a successful outcome.

Expertise that Matters Lawyers 

Lawyers at Consultants are more than just legal professionals. They're partners in your immigration journey. Their mission is to simplify the complex process, ensuring a smooth path to your immigration goals. With specialization in a wide range of UK, USA, and EU visas, nationality, and asylum applications, these specialists have a demonstrated history of managing booming, complex, and high-profile cases.

Unveiling the UK A Once-in-a-Lifetime Destination

The United Kingdom is a nation of technological advancement, economic sophistication, and rich cultural heritage. It's breathtaking landscapes and world-class opportunities make it an attractive destination for individuals seeking a new life abroad. If the UK is your destination of choice, the expertise of UK consultants becomes a bridge between your aspirations and reality.

Conclusion

Consultants Your Gateway to the UK

When the need arises for reliable consultants, Consultants is the name to trust. Their commitment to offering exceptional immigration services and settlements has earned them a reputation as a leading consultancy in India. With a focus on guiding applicants from the initial application process to obtaining necessary permits, Consultants ensure a seamless experience.

For comprehensive assistance and expert guidance, explore the services offered by Consultants by visiting their official website at Allimmigration.co.in. As UK Visa Consultants in Bangalore, their agents possess unmatched credentials and years of expertise in law. Consultants guide you in realizing your dreams.

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Protiling: London's Premier Destination for Luxury Bathroom Design and Installation

Protiling

9 Fontenoy Rd, London SW12 9LZ, United Kingdom

07414 494497

https://www.protiling.co.uk/

Are you ready to immerse yourself in the lap of bathroom luxury? Welcome to Protiling, your gateway to stunning bathroom designs and impeccable installation services across London. With a legacy spanning over [insert years of experience], we specialize in bathroom refurbishments, remodels, and complete transformations, turning your bathroom into a haven of opulence.

Masters of Bathroom Design and Installation

At Protiling, we believe your bathroom is more than just a room; it's a reflection of your style and comfort. Our team of highly skilled professionals is dedicated to crafting bespoke bathroom designs that align with your desires and lifestyle. Whether you envision a contemporary masterpiece or a timeless retreat, we have the knowledge and expertise to bring your vision to life.

London's Leading Bathroom Refurbishment Experts

Is your bathroom yearning for a revival? Our bathroom refurbishment services in London are tailored to breathe new life into your existing space. From meticulous tile regrouting and grout repair to exquisite stone restoration, we ensure that every element of your bathroom is rejuvenated to perfection. Our unwavering commitment to quality craftsmanship has positioned us as the top choice for bathroom refurbishments in London.

Experienced Bathroom Remodeling Artisans in London

When it's time for a significant transformation, our seasoned bathroom remodeling artisans are here to make your dream bathroom a reality. We take pride in being London's preferred remodeling experts, offering a comprehensive range of services to elevate your bathroom's functionality and aesthetics. From the precision installation of large format tiles to specialized wet room designs, our team is well-equipped to handle projects of all sizes with precision.

Tiling Services: Elevating Your Space

Protiling is synonymous with tiling excellence, setting the gold standard for tiling companies in London. Whether your project calls for porcelain tile installation or intricate ceramic tile work, our tiling experts possess the expertise to deliver outstanding results. We are not just a tiling company; we are your partners in transforming your bathroom into a work of art.

Bathroom Fitting London: Unrivaled Quality

Protiling's commitment to excellence extends to our bathroom fitting services. Our London bathroom fitters are dedicated to ensuring that every component of your new bathroom is installed to the highest standards. We meticulously pay attention to every detail, ensuring that your fixtures, fittings, and accessories seamlessly integrate with your design.

Innovative Bathroom Ideas for Modern Bathrooms UK

Are you in search of inspiration for your modern bathroom in the UK? Protiling is your source for cutting-edge bathroom ideas that embrace the latest trends and technology. We stay at the forefront of design concepts, ensuring that your bathroom is not only aesthetically pleasing but also practical and efficient.

London Bathroom Installers: Your Trusted Partners

Our team of London bathroom installers is committed to delivering top-tier service. With a reputation for excellence and a history of successful projects, we are your trusted partners in realizing the bathroom you've always envisioned. From the initial design phase to the final installation, we accompany you every step of the way.

Complete Bathroom Renovation: Your Vision, Our Expertise

A complete bathroom renovation is a significant undertaking, and Protiling is well-prepared to handle it. Our comprehensive renovation service encompasses every facet of your project, from plumbing and electrical work to tiling and fixtures. We ensure a seamless transformation that aligns perfectly with your vision.

London Bathroom Installations: Quality and Reliability

Protiling is synonymous with quality and reliability when it comes to bathroom installations in London. Our team's dedication to delivering exceptional results has made us the first choice for homeowners seeking the best in bathroom design and installation services.

Bathroom Installation Service: Your Satisfaction Guaranteed

Your satisfaction is paramount, and our bathroom installation service is designed to exceed your expectations. We take immense pride in our work and stand behind it with a satisfaction guarantee. When you choose Protiling, you're choosing peace of mind and a bathroom that's built to stand the test of time.

In conclusion, Protiling is your premier destination for bathroom design and installation in London. Whether you require a small bathroom renovation or a complete bathroom transformation, our team of experts is dedicated to bringing your vision to life. Contact us today and embark on a journey to transform your bathroom into a masterpiece of design and functionality. Your dream bathroom awaits with Protiling!

[knowldege]

𝐇𝐨𝐰 𝐜𝐚𝐧 𝐈 𝐢𝐝𝐞𝐧𝐭𝐢𝐟𝐲 𝐭𝐡𝐞 𝐛𝐞𝐬𝐭 𝐬𝐭𝐮𝐝𝐲-𝐚𝐛𝐫𝐨𝐚𝐝 𝐜𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐧𝐭𝐬 𝐢𝐧 𝐃𝐞𝐥𝐡𝐢?

Embarking on a journey to study abroad is an exciting pursuit, rich with opportunities and potential for academic growth. Amidst the myriad choices and decisions, one crucial partner stands out: study abroad consultants. These professionals provide invaluable guidance, ensuring that students make informed choices that align with their aspirations. For those seeking excellence, here's how to identify the best study-abroad consultants in Delhi, a hub of educational opportunities.

Expertise and Experience Matter:

The best study abroad consultants in Delhi are characterized by their depth of knowledge and years of experience. They possess an intricate understanding of various global education systems, universities, and programs. Their wealth of experience enables them to provide tailored advice that considers a student's individual strengths, career goals, and academic aspirations.

Wide Range of Services:

Comprehensive study abroad consultants offer a wide range of services that extend beyond university selection. They assist students in every step of their journey, from helping them identify suitable programs in their desired countries, such as studying in the UK or the USA, to guiding them through the complex application process.

Strong Network:

The best study abroad consultants in Delhi have cultivated a strong network of connections with universities, admissions officers, and other stakeholders. This network enables them to provide students with accurate and up-to-date information about admissions requirements, scholarship opportunities, and entrance exams such as the UCAT exam.

Personalized Approach:

Each student's aspirations are unique, and the best consultants recognize this. They take the time to understand a student's goals, interests, and financial considerations. This personalized approach ensures that the recommendations and advice provided are aligned with the student's individual journey.

Transparency and Integrity:

Trust is the cornerstone of the relationship between students and study abroad consultants. The best consultants uphold transparency and integrity in all interactions. They provide accurate information, set realistic expectations, and guide students towards decisions that are in their best interests.

Testimonials and Reviews:

Word-of-mouth recommendations can be a powerful indicator of the quality of study abroad consultants. Seek out reviews and testimonials from students who have previously worked with the consultants you are considering. Positive feedback about successful outcomes and excellent support speaks volumes about the consultant's credibility.

Industry Affiliations:

Reputable study abroad consultants often hold memberships or affiliations with recognized industry organizations. These affiliations demonstrate their commitment to professionalism and staying updated with the latest trends and developments in the field of international education.

Conclusion: Navigating the Path to Excellence

Identifying the best study-abroad consultants in Delhi involves a blend of research, due diligence, and personal interaction. As you seek to shape your academic journey and explore opportunities abroad, the right consultant can be your guiding light. By valuing expertise, personalized guidance, transparency, and a strong network, you can find a consultant who will help you turn your dreams of studying abroad into a reality.

#studyabroad #studyabroadconsultants #gotouniversity #medicine #ucat coaching #ucat prep #study advice #studying #study in usa #study in uk

[ashcafeworld]

Global Clothes Manufacturing-Clothing manufacturers company in UK

When it comes to clothing manufacturers in UK, is known for its high-quality products and innovative designs. As a leading clothing manufacturers company in the UK, we take pride in our ability to deliver exceptional garments that meet the needs and preferences of our global clientele.

With a strong focus on quality craftsmanship and attention to detail, UK clothing manufacturers have earned a reputation for producing garments that are not only stylish but also durable and long-lasting. From hoodies to sports and performance clothing, our expertise extends across a wide range of apparel categories.

As part of the global clothes manufacturing industry, we understand the importance of staying ahead of trends and meeting evolving consumer demands. Our team of skilled professionals is equipped with state-of-the-art technology and machinery to ensure efficient production processes and timely delivery.

Whether you are an established brand looking for reliable manufacturing partners or an emerging designer seeking guidance in bringing your vision to life, our clothing manufacturers in the UK are committed to providing tailored solutions that align with your specific requirements.

At Global Clothes Manufacturing, we strive to be at the forefront of innovation in the industry while maintaining ethical practices and sustainability standards. By choosing us as your trusted partner, you can be confident in receiving top-notch products that reflect both style and integrity.

Contact us today to explore how our hoodie manufacturers in the UK or sports and performance clothing manufacturers in UK can help bring your apparel ideas from concept to reality. Together, let’s create garments that make a lasting impression on the global fashion stage.

#clothing manufacturers in UK #clothing manufacturers company in UK #Best clothing manufacturers in UK #UK Clothing Manufacturers #t shirt tops manufacturers in uk #hoodie manufacturers in uk #Sports and Performance Clothing manufacturers in uk #Scarves manufacturers in uk #clothing manufacturing company in USA #clothing manufacturing company in Canada #clothing manufacturing company in Italy #clothing manufacturing company in holland #clothing manufacturing company in Poland

[lizseyi]

What Action Will New Prime Minister Liz Truss Take – Or Not Take – To Support Small Businesses

It’s official: Liz Truss has now taken office as UK Prime Minister, having defeated former Chancellor of the Exchequer Rishi Sunak in the race to succeed Boris Johnson.

But for the typical business using the services of an accountant in Wellington, Newton Abbot or Plymouth from a company like TS Partners, what else will change for them with the change in leadership – and what might stay the same?

Few new Prime Ministers have faced such an intimidating in-tray

To say that Ms Truss, who served as Foreign Secretary in Mr Johnson’s administration, faces a mammoth set of challenges would be quite the understatement.

Households and businesses alike are gravely concerned about escalating energy costs adding to an already-dire cost-of-living crisis, while inflation in the UK is also hovering at around 10%, and the Bank of England has already predicted a recession.

The new Prime Minister has declared that she has a “bold new economic plan that will cut taxes, grow our economy, and unleash the potential of everyone in our United Kingdom.”

But is the reality of Liz Truss in Number 10 likely to live up to the promises for small businesses? Multiple key stakeholders have already weighed in with their thoughts.

Firm action looks certain to be taken on the energy crisis

At the time of typing, Ms Truss was on the verge of announcing details on how her Government would tackle the energy crisis. Reports have suggested that alongside the typical household energy bill in England, Scotland and Wales being capped at around £2,500, some relief will also likely be extended to businesses.

In a Twitter post on 8th September, ahead of the announcement, the Prime Minister said she would “deal hands-on with the energy crisis”, by taking “action to make sure people are not facing unaffordable energy bills and to secure our future supply.”

Alan Thomas, UK CEO at Simply Business, has said that “small businesses need assurances that the [new] government has clear and robust plans to support them through what is set to be a bleak winter and beyond. Rising energy prices and soaring inflation will have devastating effects on businesses across the UK, not least our SMEs.

Could new PM’s ‘low-tax’ positioning lead to meaningful reductions for businesses?

Another key focus of Ms Truss’s campaign for the Conservative Party leadership has been a lowering of taxes. She has declared that she will reverse the increase in National Insurance, prevent the previously planned rise in Corporation Tax, and overhaul business rates.

However, with such tax cuts looking set to cost tens of billions of pounds annually, questions are being asked about how she will pay for such an agenda and whether tax cuts of this nature are even greatly effective at promoting business growth.

What about IR35 – will the promised review go ahead?

Another aspect of Ms Truss’s leadership campaign that we’ve previously written about here at TS Partners, is the vow she made to review the controversial IR35 rules. However, this pledge has been met with scepticism from many observers, not least given that it was also made by the Conservatives in their 2019 general election campaign. The Government eventually proceeded anyway last year with changes to the off-payroll working rules for the private sector.

In fact, one recent poll of 476 contractors – as reported by Accountancy Age – found that 94% of those polled considered Ms Truss’s IR35 review pledge to be an “empty promise”.

However, the popularity of the notion of ditching IR35 – if this were to come about – is clear. In the words of Dominic Wade, the co-founder of a specialist finance and accountancy recruitment firm quoted by Accountancy Age, the rules are “one of the most ill-conceived pieces of legislation ever to be inflicted on UK business.”

Whether you are presently working with an accountant in Wellington, Plymouth, or Newton Abbot to support your business’s growth and you are looking to do so, our team at TS Partners is available to talk. Simply email or call our experts today to learn more about how we could assist your firm.

#accountant in Wellington

[batstevenstephens]

Europe is bracing for a sharp, abrupt real estate reversal

Turmoil in trophy properties in London and Frankfurt offers a glimpse of the damage in store for European property investors as they face the sharpest turnaround on record.

From a grueling refinancing process for an office building in the City of London to the grueling sale of the Commerzbank Tower in Germany’s financial center, investors struggle to find ways to bridge funding gaps as credit markets are bogged down by rapidly rising interest rates.

The reality check will begin to hit in the coming weeks as lenders across Europe get the results of year-end assessments. Sharp falls in valuations threaten to lead to loan covenant violations, triggering emergency financing measures, from forced sales to pumping in fresh cash.

“Europe is going through the great relaxation of 10 years of easy money,” said Skardon Baker, a partner at private equity firm Apollo Global Management. “The amount of suffering and disruption is off the spectrum.”

Loans, bonds and other debts totaling about €1.9 trillion ($2.1 trillion) — nearly the size of Italy’s economy — have been backed by commercial property or issued to landlords in Europe and the UK, according to the European Banking Authority , a study by Bayes Business School and data collected by Bloomberg.

Roughly 20% of that, or about €390 billion, will mature this year, and the looming crisis marks the first real test of regulation designed after the global financial crisis to curb real estate lending risks. Those rules could make a correction steeper and more abrupt.

The Commerzbank Tower in Frankfurt, Germany. Photo credit: Alex Kraus/Bloomberg

“I think the revaluation will be faster than in the past,” said John O’Driscoll, head of the Real Assets division of French insurer Axa SA’s investment management unit. “People start to be exposed as the tide goes out.”

European lenders will be urged by the new regulations to be more aggressive against bad loans. They are also in better shape than they were during the last real estate crisis more than a decade ago, and so may be less inclined to let problems fester. That puts the burden on the borrowers.

Rules of the game

What changed

Why it matters

Banks must make provisions for expected, rather than accrued, losses

No more “extend and pretend”

Loans with breaches of covenant entail a higher cost of capital

Incentivizes banks to act faster on bad loans

German private investors have to wait up to a year for repayments from real estate funds

Ensures a more orderly sale of assets

French real estate funds must hold at least 25% of the funds in cash or shares

Provides liquidity buffer

In the aftermath of the 2008 financial crisis, most banks were reluctant to take on bad loans as it would have resulted in huge losses – a practice called “expanding and pretending”. Under new rules on non-performing loans, lenders will have to make provisions for expected rather than accrued losses. That means they are less likely to sit still and hope that asset values ​​will recover.

“The year-end valuations in the first quarter will be crucial,” said Ravi Stickney, managing partner and chief investment officer for real estate at Cheyne Capital, an alternative investment fund manager that raised £2.5 billion in real estate loans last year. “The question mark is what the banks actually do.”

Coping Strategies

Some recent deals show how real estate companies are responding to the end of the easy money era, but forced sales are the exception rather than the rule for now.

1 portsoken street

Owners of an office building on the edge of London’s insurance district failed to secure refinancing before some £140 million ($174 million) of debt matured in July, leading it to include a material uncertainty clause in its accounts issued in August were submitted.

Although the modernized and partially leased building was valued at around £220 million in February 2022, values ​​have since fallen. For the remaining space, both refinancing and lease discussions are underway that could provide a solution. Without progress, the result could be a forced sale.

One poultry

The Korean owners of the building near the Bank of England extended shareholder credit after a fall in value led to a breach of a Bank of Ireland loan, according to company accounts. The strategy obviously requires owners to have cash available, which is not the case for many highly indebted European landlords. React News previously reported the missed refinancing TBEN.

Opel construction

In London, Guangzhou R&F Properties Co. an alternative to bank loans. The Chinese developer turned to a consortium with Apollo Global Management Inc. and Carlyle Group to secure £772m of senior and mezzanine debt to resume work on an apartment and hotel complex in Vauxhall.

Commerzbank Tower

In Frankfurt, another Korean investor chose to try to sell the tower occupied by Commerzbank AG instead of trying to refinance. That is a rare step in today’s market. According to Chris Staveley, head of international capital markets in Europe for JLL, about €20 billion in planned office sales in Europe was pulled last year as sellers heeded falling values.

Senior debt ratings

So far, valuations have not fallen enough for senior debt – the loans typically held by banks – to be underwater, but that could soon change. By CBRE Group Inc. valued commercial property in the UK fell 13% last year. The decline accelerated in the second half, with the broker recording a 3% decline in December alone. Analysts from Goldman Sachs Group Inc. have predicted that the overall decline could exceed 20%.

Banks can then act before prices fall further and risk credit losses, forcing indebted landlords into difficult alternatives. The problems become more thorny for those dealing with debt. Lenders reduce the amount of a property’s value they are willing to lend. That means a lower rating could be a double whammy, widening the funding gap.

“Banks’ appetite is lower and will continue to be lower” until there are signs that the market has bottomed, said Vincent Nobel, head of asset-based lending at Federated Hermes Inc. The new regulations urge banks to deal with bad loans “and one way to solve problems is to make it someone else’s problem.”

Sweden has been the epicenter of the crisis so far, with house prices expected to fall by 20% from peak levels. The country’s listed real estate companies have lost 30% of their value in the past 12 months, and Sweden’s central bank and financial supervisory authority have repeatedly warned of the risks posed by commercial real estate debt.

According to Anders Kvist, a senior advisor to the director of the FSA, declining property values ​​could create a “domino effect” as the demand for more collateral could force a forced sale.

While there is some stability, such as in Italy and Spain, which were hit harder after the global financial crisis, the UK is slumping and there are signs that Germany could be next.

On the bright side, there are more options available to investors in tied real estate. Entities such as closed-end credit funds have grown steadily over the past decade. Collectively, insurers and other alternative lenders had a higher share of new property loans in the UK than the country’s largest banks in the first half of last year, according to the Bayes survey.

Over the next 18 months, investors will pour a record amount into so-called opportunistic funds that take on riskier real estate bets, Cantor Fitzgerald CEO Howard Lutnick said at the World Economic Forum in Davos last week. The trend will help accelerate an upswing in commercial real estate markets, he said.

These new tools could make the turmoil shorter than in the past, when banks held onto bad loans for years. Louis Landeman, a credit analyst at Danske Bank in Stockholm, expects the reset to be relatively orderly and that borrowers will have enough to take countermeasures.

“Anyone who can come up with a creative way to fill that gap is going to have a great time,” said Mat Oakley, head of commercial research at Savills.

–With assistance from Anton Wilen, Antonio Vanuzzo, Damian Shepherd, Konrad Krasuski, and Nicholas Comfort.

[christianlanden]

Europe is bracing for a sharp, abrupt real estate reversal

Turmoil in trophy properties in London and Frankfurt offers a glimpse of the damage in store for European property investors as they face the sharpest turnaround on record.

From a grueling refinancing process for an office building in the City of London to the grueling sale of the Commerzbank Tower in Germany’s financial center, investors struggle to find ways to bridge funding gaps as credit markets are bogged down by rapidly rising interest rates.

The reality check will begin to hit in the coming weeks as lenders across Europe get the results of year-end assessments. Sharp falls in valuations threaten to lead to loan covenant violations, triggering emergency financing measures, from forced sales to pumping in fresh cash.

“Europe is going through the great relaxation of 10 years of easy money,” said Skardon Baker, a partner at private equity firm Apollo Global Management. “The amount of suffering and disruption is off the spectrum.”

Loans, bonds and other debts totaling about €1.9 trillion ($2.1 trillion) — nearly the size of Italy’s economy — have been backed by commercial property or issued to landlords in Europe and the UK, according to the European Banking Authority , a study by Bayes Business School and data collected by Bloomberg.

Roughly 20% of that, or about €390 billion, will mature this year, and the looming crisis marks the first real test of regulation designed after the global financial crisis to curb real estate lending risks. Those rules could make a correction steeper and more abrupt.

The Commerzbank Tower in Frankfurt, Germany. Photo credit: Alex Kraus/Bloomberg

“I think the revaluation will be faster than in the past,” said John O’Driscoll, head of the Real Assets division of French insurer Axa SA’s investment management unit. “People start to be exposed as the tide goes out.”

European lenders will be urged by the new regulations to be more aggressive against bad loans. They are also in better shape than they were during the last real estate crisis more than a decade ago, and so may be less inclined to let problems fester. That puts the burden on the borrowers.

Rules of the game

What changed

Why it matters

Banks must make provisions for expected, rather than accrued, losses

No more “extend and pretend”

Loans with breaches of covenant entail a higher cost of capital

Incentivizes banks to act faster on bad loans

German private investors have to wait up to a year for repayments from real estate funds

Ensures a more orderly sale of assets

French real estate funds must hold at least 25% of the funds in cash or shares

Provides liquidity buffer

In the aftermath of the 2008 financial crisis, most banks were reluctant to take on bad loans as it would have resulted in huge losses – a practice called “expanding and pretending”. Under new rules on non-performing loans, lenders will have to make provisions for expected rather than accrued losses. That means they are less likely to sit still and hope that asset values ​​will recover.

“The year-end valuations in the first quarter will be crucial,” said Ravi Stickney, managing partner and chief investment officer for real estate at Cheyne Capital, an alternative investment fund manager that raised £2.5 billion in real estate loans last year. “The question mark is what the banks actually do.”

Coping Strategies

Some recent deals show how real estate companies are responding to the end of the easy money era, but forced sales are the exception rather than the rule for now.

1 portsoken street

Owners of an office building on the edge of London’s insurance district failed to secure refinancing before some £140 million ($174 million) of debt matured in July, leading it to include a material uncertainty clause in its accounts issued in August were submitted.

Although the modernized and partially leased building was valued at around £220 million in February 2022, values ​​have since fallen. For the remaining space, both refinancing and lease discussions are underway that could provide a solution. Without progress, the result could be a forced sale.

One poultry

The Korean owners of the building near the Bank of England extended shareholder credit after a fall in value led to a breach of a Bank of Ireland loan, according to company accounts. The strategy obviously requires owners to have cash available, which is not the case for many highly indebted European landlords. React News previously reported the missed refinancing TBEN.

Opel construction

In London, Guangzhou R&F Properties Co. an alternative to bank loans. The Chinese developer turned to a consortium with Apollo Global Management Inc. and Carlyle Group to secure £772m of senior and mezzanine debt to resume work on an apartment and hotel complex in Vauxhall.

Commerzbank Tower

In Frankfurt, another Korean investor chose to try to sell the tower occupied by Commerzbank AG instead of trying to refinance. That is a rare step in today’s market. According to Chris Staveley, head of international capital markets in Europe for JLL, about €20 billion in planned office sales in Europe was pulled last year as sellers heeded falling values.

Senior debt ratings

So far, valuations have not fallen enough for senior debt – the loans typically held by banks – to be underwater, but that could soon change. By CBRE Group Inc. valued commercial property in the UK fell 13% last year. The decline accelerated in the second half, with the broker recording a 3% decline in December alone. Analysts from Goldman Sachs Group Inc. have predicted that the overall decline could exceed 20%.

Banks can then act before prices fall further and risk credit losses, forcing indebted landlords into difficult alternatives. The problems become more thorny for those dealing with debt. Lenders reduce the amount of a property’s value they are willing to lend. That means a lower rating could be a double whammy, widening the funding gap.

“Banks’ appetite is lower and will continue to be lower” until there are signs that the market has bottomed, said Vincent Nobel, head of asset-based lending at Federated Hermes Inc. The new regulations urge banks to deal with bad loans “and one way to solve problems is to make it someone else’s problem.”

Sweden has been the epicenter of the crisis so far, with house prices expected to fall by 20% from peak levels. The country’s listed real estate companies have lost 30% of their value in the past 12 months, and Sweden’s central bank and financial supervisory authority have repeatedly warned of the risks posed by commercial real estate debt.

According to Anders Kvist, a senior advisor to the director of the FSA, declining property values ​​could create a “domino effect” as the demand for more collateral could force a forced sale.

While there is some stability, such as in Italy and Spain, which were hit harder after the global financial crisis, the UK is slumping and there are signs that Germany could be next.

On the bright side, there are more options available to investors in tied real estate. Entities such as closed-end credit funds have grown steadily over the past decade. Collectively, insurers and other alternative lenders had a higher share of new property loans in the UK than the country’s largest banks in the first half of last year, according to the Bayes survey.

Over the next 18 months, investors will pour a record amount into so-called opportunistic funds that take on riskier real estate bets, Cantor Fitzgerald CEO Howard Lutnick said at the World Economic Forum in Davos last week. The trend will help accelerate an upswing in commercial real estate markets, he said.

These new tools could make the turmoil shorter than in the past, when banks held onto bad loans for years. Louis Landeman, a credit analyst at Danske Bank in Stockholm, expects the reset to be relatively orderly and that borrowers will have enough to take countermeasures.

“Anyone who can come up with a creative way to fill that gap is going to have a great time,” said Mat Oakley, head of commercial research at Savills.

–With assistance from Anton Wilen, Antonio Vanuzzo, Damian Shepherd, Konrad Krasuski, and Nicholas Comfort.

[lindaboggers]

Europe is bracing for a sharp, abrupt real estate reversal

Turmoil in trophy properties in London and Frankfurt offers a glimpse of the damage in store for European property investors as they face the sharpest turnaround on record.

From a grueling refinancing process for an office building in the City of London to the grueling sale of the Commerzbank Tower in Germany’s financial center, investors struggle to find ways to bridge funding gaps as credit markets are bogged down by rapidly rising interest rates.

The reality check will begin to hit in the coming weeks as lenders across Europe get the results of year-end assessments. Sharp falls in valuations threaten to lead to loan covenant violations, triggering emergency financing measures, from forced sales to pumping in fresh cash.

“Europe is going through the great relaxation of 10 years of easy money,” said Skardon Baker, a partner at private equity firm Apollo Global Management. “The amount of suffering and disruption is off the spectrum.”

Loans, bonds and other debts totaling about €1.9 trillion ($2.1 trillion) — nearly the size of Italy’s economy — have been backed by commercial property or issued to landlords in Europe and the UK, according to the European Banking Authority , a study by Bayes Business School and data collected by Bloomberg.

Roughly 20% of that, or about €390 billion, will mature this year, and the looming crisis marks the first real test of regulation designed after the global financial crisis to curb real estate lending risks. Those rules could make a correction steeper and more abrupt.

The Commerzbank Tower in Frankfurt, Germany. Photo credit: Alex Kraus/Bloomberg

“I think the revaluation will be faster than in the past,” said John O’Driscoll, head of the Real Assets division of French insurer Axa SA’s investment management unit. “People start to be exposed as the tide goes out.”

European lenders will be urged by the new regulations to be more aggressive against bad loans. They are also in better shape than they were during the last real estate crisis more than a decade ago, and so may be less inclined to let problems fester. That puts the burden on the borrowers.

Rules of the game

What changed

Why it matters

Banks must make provisions for expected, rather than accrued, losses

No more “extend and pretend”

Loans with breaches of covenant entail a higher cost of capital

Incentivizes banks to act faster on bad loans

German private investors have to wait up to a year for repayments from real estate funds

Ensures a more orderly sale of assets

French real estate funds must hold at least 25% of the funds in cash or shares

Provides liquidity buffer

In the aftermath of the 2008 financial crisis, most banks were reluctant to take on bad loans as it would have resulted in huge losses – a practice called “expanding and pretending”. Under new rules on non-performing loans, lenders will have to make provisions for expected rather than accrued losses. That means they are less likely to sit still and hope that asset values ​​will recover.

“The year-end valuations in the first quarter will be crucial,” said Ravi Stickney, managing partner and chief investment officer for real estate at Cheyne Capital, an alternative investment fund manager that raised £2.5 billion in real estate loans last year. “The question mark is what the banks actually do.”

Coping Strategies

Some recent deals show how real estate companies are responding to the end of the easy money era, but forced sales are the exception rather than the rule for now.

1 portsoken street

Owners of an office building on the edge of London’s insurance district failed to secure refinancing before some £140 million ($174 million) of debt matured in July, leading it to include a material uncertainty clause in its accounts issued in August were submitted.

Although the modernized and partially leased building was valued at around £220 million in February 2022, values ​​have since fallen. For the remaining space, both refinancing and lease discussions are underway that could provide a solution. Without progress, the result could be a forced sale.

One poultry

The Korean owners of the building near the Bank of England extended shareholder credit after a fall in value led to a breach of a Bank of Ireland loan, according to company accounts. The strategy obviously requires owners to have cash available, which is not the case for many highly indebted European landlords. React News previously reported the missed refinancing TBEN.

Opel construction

In London, Guangzhou R&F Properties Co. an alternative to bank loans. The Chinese developer turned to a consortium with Apollo Global Management Inc. and Carlyle Group to secure £772m of senior and mezzanine debt to resume work on an apartment and hotel complex in Vauxhall.

Commerzbank Tower

In Frankfurt, another Korean investor chose to try to sell the tower occupied by Commerzbank AG instead of trying to refinance. That is a rare step in today’s market. According to Chris Staveley, head of international capital markets in Europe for JLL, about €20 billion in planned office sales in Europe was pulled last year as sellers heeded falling values.

Senior debt ratings

So far, valuations have not fallen enough for senior debt – the loans typically held by banks – to be underwater, but that could soon change. By CBRE Group Inc. valued commercial property in the UK fell 13% last year. The decline accelerated in the second half, with the broker recording a 3% decline in December alone. Analysts from Goldman Sachs Group Inc. have predicted that the overall decline could exceed 20%.

Banks can then act before prices fall further and risk credit losses, forcing indebted landlords into difficult alternatives. The problems become more thorny for those dealing with debt. Lenders reduce the amount of a property’s value they are willing to lend. That means a lower rating could be a double whammy, widening the funding gap.

“Banks’ appetite is lower and will continue to be lower” until there are signs that the market has bottomed, said Vincent Nobel, head of asset-based lending at Federated Hermes Inc. The new regulations urge banks to deal with bad loans “and one way to solve problems is to make it someone else’s problem.”

Sweden has been the epicenter of the crisis so far, with house prices expected to fall by 20% from peak levels. The country’s listed real estate companies have lost 30% of their value in the past 12 months, and Sweden’s central bank and financial supervisory authority have repeatedly warned of the risks posed by commercial real estate debt.

According to Anders Kvist, a senior advisor to the director of the FSA, declining property values ​​could create a “domino effect” as the demand for more collateral could force a forced sale.

While there is some stability, such as in Italy and Spain, which were hit harder after the global financial crisis, the UK is slumping and there are signs that Germany could be next.

On the bright side, there are more options available to investors in tied real estate. Entities such as closed-end credit funds have grown steadily over the past decade. Collectively, insurers and other alternative lenders had a higher share of new property loans in the UK than the country’s largest banks in the first half of last year, according to the Bayes survey.

Over the next 18 months, investors will pour a record amount into so-called opportunistic funds that take on riskier real estate bets, Cantor Fitzgerald CEO Howard Lutnick said at the World Economic Forum in Davos last week. The trend will help accelerate an upswing in commercial real estate markets, he said.

These new tools could make the turmoil shorter than in the past, when banks held onto bad loans for years. Louis Landeman, a credit analyst at Danske Bank in Stockholm, expects the reset to be relatively orderly and that borrowers will have enough to take countermeasures.

“Anyone who can come up with a creative way to fill that gap is going to have a great time,” said Mat Oakley, head of commercial research at Savills.

–With assistance from Anton Wilen, Antonio Vanuzzo, Damian Shepherd, Konrad Krasuski, and Nicholas Comfort.