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Sugar Ray Seales still carries his 1972 Olympic gold medal everywhere he goes | Boxing News


Stricken by blindness, Sugar Ray Seales was recently discovered living in a homeless shelter. Here, Eric Armit delves into the story of a proud boxer with a gold-standard Olympic pedigree who fought Hagler, Palomino, Minter and more.


Born: 9 April 1952 (other sources suggest 4 September 1952) Saint Croix, U.S. Virgin Isles

Record: 68 fights, 57 wins (34 by KO/TKO), lost eight (three by KO/TKO against Marvin Hagler, Alan Minter and Dwight Davison) three draws.

Division: Middleweight

Stance: Southpaw

It culminated in 1972 Olympic gold: Sugar Ray Seales’s Amateur Career

Won Olympic gold medal at the 1972 Games. The only USA fighter to win a gold medal at the Games. He was a gold medal winner at the 1971 US National Championships and at the 1973 National Golden Gloves. In the US National Championships in 1971, he beat Carlos Palomino in the semi-finals, and in 1972 lost to Palomino in the gold medal bout. In the US Olympic Trials, Seales beat Pete Ranzany, who had eliminated Palomino.

Seales turned professional in January 1973 in Tacoma, winning an eight-rounder on his debut

1973 – Had 14 fights, winning them all, beating 100-fight veteran Chucho Garcia and Britain’s Dave Coventry.

1974 – Had 10 fights, winning 8, beating David Love and losing, then drawing with Marvin Hagler.

1975 – Had 7 fights, winning 6, beating Mike Dixon, Mike Lancaster and Renato Garcia but losing to Eugene Hart.

1976 – Had 4 fights, beating George Cooper and Bobby Hoye but losing to Alan Minter.

1977 – Had 11 fights, losing to Ronnie Harris in March, then winning 10 in a row, including victories over Tony Gardner, Vincente Medina, Mike Hallacy and Doug Demmings.

1978 – Had 7 fights, beating Sammy Nesmith, drawing with Willie Warren and losing a majority decision to Ayub Kalule in Denmark.

1979 – Had three fights, including a loss against Marvin Hagler and a draw with Mike Colbert.

1980 – Was 4-1, Beating 31-0 Art Harris but losing to Dwight Davison. Outpointed Jamie Thomas in a fight that eventually led to Seales retiring.

1981 to 1983 – Won 7 of his 8 fights, beating Sammy Nesmith and John LoCicero but losing to unbeaten James Shuler. He had his last fight in January 1983 stopping Max Hord in the first round.

The Story of Sugar Ray Seales

Seales was born in St Croix, US Virgin Islands, where his father served in the US Army. He was one of eight children whose father had been part of the US Army boxing team. The family moved to Tacoma, Washington, in 1965.

He and his brother Wilbur joined the Tacoma Boys Boxing Club. Amateur boxing in the Pacific Northwest was booming at the time, producing future champions such as Rocky Lockridge, Leo Randolph, and Johnny Bumphus.

BoxRec shows Seales starting out in 1966 in the 95-lb division and working up through the weights, winning the Tacoma Golden Gloves, Seattle Golden Gloves, Inland Empire State Golden Gloves, Oregon Golden Gloves, and Western Region Golden Gloves.

He won a bronze medal at the 1970 Golden Gloves at 132 lbs before winning the 1971 National title at 139 lbs, beating Carlos Palomino on his way to the final.

He lost to Palomino in the 1972 National final but rebounded to win his way through the US Olympic Trials. The Games were held in Munich, and in his first bout, Seales beat German hope Ulrich Bayer. Just 19 years old at the time and by then in the US Air Force, Seales fought his way to the gold medal.

Still, the Games were overshadowed by the murder of eleven Israeli coaches and athletes and a German policeman by terrorists of the Black September group who invaded the athletes’ quarters.

It seemed possible that the Games would be abandoned, but they continued with Seales being the only member of the US Boxing Team to win a gold medal. Seales turned professional, but his signing-on bonus was a mere $1000 (for winning a gold medal in 1976, another Sugar Ray -Leonard- was paid $40,000).

BoxRec shows Seales as having a 48-8 record as an amateur, but this would omit his fights as a junior and club shows, etc., and some sources, including Seales, give his amateur record as 338-12.

He won his first 21 paid fights before losing on points to 14-0 Marvin Hagler in August 1974 in Boston. They fought again in November 1974 in Seattle and the result was a majority draw with one judge having Seales the winner and the other two scoring it a draw.

Losses to Eugene Hart, Alan Minter and Ronnie Harris almost derailed Seales but he rebounded by going 15-0-1 in his next 16 fights. In November 1978 in Denmark, he lost a majority decision to future WBA light-middleweight champion Ayub Kalule.

Any dreams Seales had of a title shot ended in February 1979 when he was floored three times and stopped in the first round by Hagler. In 1980, a stoppage loss against Dwight Davison was a further blow, but an even more damaging blow came in his next fight in August 1980. He scored a points win over the very modest Jamie Thomas but was thumbed in the left eye and suffered a detached retina.

Stellar company: Seales fought Marvin Hagler three times, including a 1974 draw. (Photo by Albert Foster/Mirrorpix/Getty Images)

Seales already had problems with his right eye but he successfully covered up both injuries and continued to box with very limited vision, winning seven of his next eight fights before his problems were leaked and he was forced to retire. The eye damage was so serious that he was ruled legally blind.  He went through seven operations, which resulted in a slight improvement in his right eye vision.

The operations swallowed all the money Seales had and he was forced to file for bankruptcy with the judge in his case writing of Seales that, “he couldn’t even pay the bankruptcy filing fee”. Attempts were made to put on a benefit show for Seales in Tacoma but despite the attendance of Muhammad Ali, Hagler, Ray Mancini and others, only 4,000 tickets were sold, effectively raising no money.

When Seales’s plight had first become known Sammy Davis Jr said Seales was suffering from three B’s: black, blind and broke. Davis had been a prime mover in getting the benefit show off the ground, and after it failed, Davis donated $100,000 to clear Seales’s debts. That gave Seales the chance to start his life anew.

From 1984, he spent 17 years working with autistic children in schools in the Tacoma area before retiring and moving to Indianapolis so his wife could be nearer to her family. Inevitably, Seales made his way to a local gym and began to work with young boxers there, including the currently unbeaten lightweight world contender Frank Martin.

Seales was inducted into the Indianapolis Boxing Hall of Fame in 2018 and the US Virgin Islands proclaimed 14 April 1984 to be Sugar Ray Seales Day. After his wife died, Seales moved back to Tacoma where some of his siblings still lived. He is 71 now and proud that he never let his misfortune beat him down. One thing you can be sure of is that Sugar Ray still carries his gold medal with him every time he leaves the house.

He shows the medal to any young aspiring boxer he meets and not just to boxing people. He recognises the thrill it must give to be pictured with a gold medal. Life may have taken away most of his vision, but no one can ever take away the gold medal he won in 1972.



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La Luz: News Of The Universe – Album Review

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La Luz: News Of The Universe

(Sub Pop)

LP | CD | DL

Out 24th May, 2024

La Luz: News Of The Universe – Album Review

 

La Luz return with album number five; a blissful psych exploration of embracing love in a changing world. Their most ambitious to date.

When La Luz released their second album back in 2015, Ged Babey found himself getting lost in their blend of twanging surf psych, stating that “All my worries and all the petty everyday shit just melts away. Nothing else exists other than the hazy lazy beauty of this band’s music.” Through 2018’s Floating Features and on to their self-titled fourth album in 2021 he fell deeper under their spell, finally opining that “The music business goes on around them, yet they are head and shoulders above it all, making seemingly effortless music which is immediately identifiable and peerless.” He could not have been more on the ball. On their new album, News Of The Universe, the band have continued their sonic journey, travelling further out into the ether, leaving behind that which tethered them to the ground.

Every song floats effortlessly, their gorgeous harmonies once again part of the key to unlocking the beauty around us. But gone it seems, for now, are the guitars that pierced the haze; the twang replaced with six-strings that chime and charm in equal measure, floating along beneath like currents that guide the waves, occasionally surfacing with a deep fuzz that reminds us of their power. In doing so, and in continuing their development, they have written an album that sounds immediately like a 60’s lost treasure.

After the brief acapella intro of Reaching Up To The Sun, they come bounding in with the single Strange World, tumbling toms and a deep-psych guitar riff casting waves that crash over us in tomentous times, before they suddenly drift off, the hypnotic voice of Shana Cleveland imploring us to “look alive in a strange world.”  It soothes as the song develops into an instrumental breakdown midway through, implying a running threat beneath the surface, but she reminds us that “we’ll be fine. Just take your time.” The song feels at once personal yet universal and, given the singer’s personal joy and despair in recent years (she was diagnosed with breast cancer two years after the birth of her son), one that transmits defiance in the face of destruction.

The album shines in its timelessness, sounding like it could have been written any time in the last five and half decades. On much of it, they recall the sound of the classic one-album psych band, The United States Of America. It’s a reference point that continues and is reinforced as they move into the blissful Dandelions with its sweeping synths, jazz-inflected rhythm section and again, Cleveland’s voice recalling Dorothy Moskowitz at her most exquisite. Lyrically, it also harks back to that album; the song a rumination on the cycle of life, of nature connected as the flowers represent suns soon to close as night draws in.

The band’s ability to draw you into their music really captivates. Songs like Poppies, Moon In Reverse, and the astoundingly beautiful album closer Blue Jay are prime examples. On the latter, the simplicity of sound is a new key. Shorn of harmonies and the lush instrumentation that mark most of the album, Cleveland’s voice is left alone, a single acoustic guitar to accompany her and, in that moment, there is nothing between you and her; no rush, no hustle, no chaos; only time, brief and precious.

When moving all together as one on the same groove, we’re gifted with songs like Good Luck With Your Secret and Close Your Eyes, both songs that remind us of the ever-growing strength of the US psych scene, one where bands like Elephant Stone, Night Beats, The Black Angels continue to mine the desert to the West Coast heritage, from the Chihuahuan to Haight-Ashbury. However, among such company, La Luz still stand out as being able to produce albums of hypnotic beauty, more so here on the sublime I’ll Go With You. The harmonies are simultaneously haunting and soothing, but it’s the subtle guitar runs underneath everything that draw you deeper inside the song.

La Luz continue to forge their own path and News Of The Universe is a further step on an increasingly expansive journey, one that sees them continually questioning themselves and the limits to be broken. Born out of struggle, on News Of The Universe they have found a way to create beauty in strife.

~

Words by Nathan Whittle. Find his Louder Than War archive here.

Nathan also presents From The Garage on Louder Than War Radio every Tuesday at 8pm. Tune in for an hour of fuzz-crunching garage rock ‘n’ roll and catch up on all shows on the From The Garage Mixcloud playlist.

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Ogier and Toyota Gazoo Racing triump again – Toyota Media Site

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Toyota Gazoo Racing World Rally Team’s Sébastien Ogier has secured a second successive win with his record-breaking sixth victory at the Rally de Portugal.

Just like in the previous round on the asphalt roads of Croatia, Ogier and co-driver Vincent Landais triumphed after a thrilling and close battle on Portugal’s gravel stages. Just one second from the lead at the end of Friday, Ogier took over at the front on Saturday morning as others hit trouble, and used all his experience to get through the longest day of the rally with an advantage of 11.9 seconds.

He increased his margin with a storming stage win in a foggy first test on Sunday morning, allowing him to apply more caution in the following tests and ultimately take victory by 7.9s.

Ogier now has more WRC victories in Portugal than any other driver, having matched Finnish legend Markku Alén’s tally of five wins back in 2017. TGR-WRT meanwhile has now won the last five editions of the event with four different drivers, bringing Toyota level with Lancia and Citroën on eight victories each across the history of the rally.

Elfyn Evans and Scott Martin finished sixth overall, securing some important points after a difficult start to the rally on Friday. They faced a further challenge on Sunday after damage to the cooling package in the penultimate stage, but made repairs on the road section to ensure they reached the finish. They remain second in the championship, 24 points from the leaders.

Kalle Rovanperä led after Friday but went off the road on Saturday’s second stage. He and Jonne Halttunen restarted on Sunday and took third in the Power Stage, helping to bank some extra points for the team.

Takamoto Katsuta was also among those fighting for the lead early on before he too stopped on Saturday morning after picking up damage. He and Aaron Johnston rejoined the action on Sunday and were fifth in the Super Sunday and Power Stage classifications. The manufacturers’ standings remain close after five rounds, with TGR-WRT now four points from the lead.

TGR is celebrating a double victory in Portugal after the first WRC2 win for the new GR Yaris Rally2 car on its gravel debut at this level. Jan Solans and co-driver Rodrigo Sanjuan (Teo Martín Motorsport) climbed the order in the highly-competitive category on Saturday and clinched first place by just 3.2  seconds at the finish.

Quotes:
Akio Toyoda (TGR-WRT Chairman)
“Seb, Vincent, congratulations on your two consecutive wins in Portugal!
No matter how tough the gravel surface was, Seb was always calm. No matter how close and electrifying the competition was, Seb was always smiling to the fans. When something happened, he calmly informed the engineers about the situation and got back to the stages. Then he comes back to the finish line faster than anyone else. I am grateful to have such a “true professional” driver in our team. Seb, thank you again.

This weekend, there was both a disappointing thing and a good thing. The disappointing thing was that the other three cars were not able to drive through without problems. Last year as well, we won the event, but the other two cars experienced troubles. So this year, our goal was for all four cars to have a trouble-free rally, but it became a frustrating result for us again. On the other hand, the good thing which made me happy was that the team was calmer than before, whatever kind of problem they were facing. Many things happened during the weekend, but I heard everyone tried to stay calm and find a solution. It is nice to see the team grow. The team gets stronger as each member gets stronger, and as the team gets stronger, the GR YARIS Rally1 will become ever better and stronger. We still have a lot of tough events ahead of us this season, but I hope to continue to grow with everybody in the team.

P.S. to Scott
Let’s be careful not to forget things! But the backup you did was great!

P.S. to Elfyn
I can relate to you as my co-driver often forgets things! Maybe we drivers should try to support co-drivers as well!”

Jari-Matti Latvala (Team Principal)
“Winning a rally is always a special feeling and we can be very happy to have taken another victory here in Portugal with Seb, continuing our winning run on this great event. It’s fantastic to see Seb’s great approach to these events and how he handles the situation under pressure: it shows why he is an eight-time world champion, and now a record six-time winner on this event. Of course, it’s slightly mixed feelings overall because we could not score as many points as we would have liked for championship. But that situation is what it is and we just need to fight back there in the next events.”

Kalle Rovanperä (driver car 69)
“A big thank you to the team for fixing the car after the disappointment of yesterday, and sorry to them for losing such important points. It was nice to be back out today but it was not easy, cleaning the road was even tougher than we expected. On the Power Stage we really tried our best, I thought it was a good drive and a clean run, but the road was cleaning so much that the guys behind came a bit faster. Still we got a few points so we did what we could to help the team. It was not the weekend we wanted but we will come back stronger.”

Elfyn Evans (driver car 33)
“This morning things were going a bit better than yesterday, but in the third stage we had a rock impact on the underside of the car that damaged the radiator. After that we had to get the car through in EV mode, and we managed to make a repair to get to the finish but unfortunately we didn’t get any extra points from the day. We definitely found a better feeling in the car but there are still a couple of areas to work on. At least we have some answers from the weekend. We’ll try to turn things around and have a stronger rally in Sardinia.”

Sébastien Ogier (driver car 17)
“To take another win feels great. It’s nice to achieve some more cool numbers and I have to enjoy and cherish these moments. I had nothing against being tied on five wins for a few years with Markku Alén because for me he’s a legend and I have huge respect for him, but I’ve been asked many times when I was going to take the record and now finally it happened. It was another intense fight for everyone to follow and for us in the car there was no moment to relax. I think the way we managed everything was close to perfect: we could always stay in contention for the win without taking maximum risk when it didn’t feel 100 per cent.”

Takamoto Katsuta (driver car 18)
“Of course it’s quite disappointing still that we retired yesterday because we could have had a much better result. But I had a very good feeling with the car here, it felt really good until that moment yesterday. Today was not so easy because we were without hybrid for some stages and the road position wasn’t good for us, but it was nice to at least get some points. I tried to keep pushing every stage as much as I can and learned a lot. There are some positives to take and now I focus on Sardinia, try to prepare well and keep pushing.”

PROVISIONAL FINAL CLASSIFICATION, RALLY DE PORTUGAL
1 Sébastien Ogier/Vincent Landais (Toyota GR YARIS Rally1 HYBRID) 3h41m32.3s
2 Ott Tänak/Martin Järveoja (Hyundai i20 N Rally1 HYBRID) +7.9s
3 Thierry Neuville/Martijn Wydaeghe (Hyundai i20 N Rally1 HYBRID) +1m09.8s
4 Adrien Fourmaux/Alexandre Coria (Ford Puma Rally1 HYBRID) +1m47.8s
5 Dani Sordo/Cándido Carrera (Hyundai i20 N Rally1 HYBRID) +2m48.9s
6 Elfyn Evans/Scott Martin (Toyota GR YARIS Rally1 HYBRID) +6m36.0s
7 Nikolay Gryazin/Konstantin Aleksandrov (Citroën C3 Rally2) +11m48.4s
8 Jan Solans/Rodrigo Sanjuan (Toyota GR Yaris Rally2) +11m52.9s
9 Josh McErlean/James Fulton (Škoda Fabia RS Rally2) +11m56.1s
10 Lauri Joona/Janni Hussi (Škoda Fabia RS Rally2) +13m40.3s
29 Takamoto Katsuta/Aaron Johnston (Toyota GR YARIS Rally1 HYBRID) +1h10m33.8s
31 Kalle Rovanperä/Jonne Halttunen (Toyota GR YARIS Rally1 HYBRID) +1h20m54.4s
(Results as of 16:30 on Sunday, for the latest results please visit www.wrc.com)

2024 FIA World Rally Championship for drivers after round 5:
1 Thierry Neuville 110 points
2 Elfyn Evans 86
3 Ott Tänak 79
4 Adrien Fourmaux 71
5 Sébastien Ogier 70
6 Takamoto Katsuta 49
7 Kalle Rovanperä 36
8 Esapekka Lappi 23
9 Andreas Mikkelsen 14
10 Oliver Solberg 12

2024 FIA World Rally Championship for manufacturers after round 5:
1 Hyundai Shell Mobis World Rally Team 219 points
2 TOYOTA GAZOO Racing World Rally Team 215
3 M-Sport Ford World Rally Team 96

What’s next?
Rally Italia Sardegna (May 31-Jun 2) features fast but narrow gravel stages, where exposed rocks as well as trees at the side of the road can catch out the unwary. High temperatures combined with the abrasive surface places high stresses on the cars and tyres.

ENDS



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Ex-offenders “neglected” in the workplace due to lack of digital skills, warns Digital Poverty Alliance

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With current reoffending rates on the rise, prison leavers are facing neglect when seeking to reintegrate into society due to insufficient digital skills, according to the Digital Poverty Alliance (DPA).

Government statistics reveal that the criminal reoffending rate is currently at 26 per cent, and has increased since 2021. The DPA believes that schemes like Tech4PrisonLeavers would largely decrease reoffending rates by providing ex-offenders with essential skills to make them an asset to society and employers.

The DPA highlights a pressing need for all bodies to provide support and training to help ex-offenders secure employment, with digital skills proving to be a critical factor in this struggle, whilst also calling on government to ensure that prisons provide suitable access to digital skills and modern technology prior to release.

Elizabeth Anderson, CEO, Digital Poverty Alliance said: “The Tech4PrisonLeavers initiative represents a transformative step towards breaking the cycle of reoffending by directly addressing the digital disconnect experienced by many prison leavers.”

“By equipping them with essential digital skills, we open up a realm of employment opportunities previously out of reach, fostering not only economic independence but also boosting confidence and empowerment. Ex-offenders are often left feeling neglected in the workplace, but this holistic approach doesn’t just benefit individuals; it influences broader systemic changes, making our society more inclusive and reducing the likelihood that individuals will return to prison.”

The DPA launched the Tech4PrisonLeavers pilot project and enrolled a total of 23 men who took digital and literacy surveys and 11 of which completed psychological scale surveys. Results revealed that five prison leavers secured employment within [time period], and 35 landed mock interviews with potential employers, resulting in requests for CV submissions.

The psychological surveys evaluated the wellbeing, competence and aspirations of the candidates and the results revealed an improvement in participants well-being throughout the project. Tech4PrisonsLeavers enhanced feelings of competence regarding future employment, heightened aspirations for personal growth and improved self-assessed digital literacy.

Throughout the programme there were online virtual workshops entailing CV preparation and mini courses on digital awareness, safety and ethics available to participants who received digital badges upon completing a certain number of courses. The programme was designed to meet unique needs of prison leaders and help them be released from the digital divide.

Tech4PrisonLeavers overall outcome was considered as a notable success in several areas, as the project focused on digital literacy which is a key factor in reducing recidivism.





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Workers shun business parks as 'the office' prefer city centres

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The dynamics of office space preferences have shifted dramatically in recent years, with business parks experiencing significant vacancies as companies prioritise city centre locations to accommodate their workforce’s evolving needs.

Despite initial expectations that business parks would gain popularity due to pandemic-induced concerns about public transport, the opposite has occurred. The desire for vibrancy and social interaction found in city centers has driven companies and their employees away from suburban business parks.

This trend reflects a broader “flight to quality” observed in the commercial property market, where businesses increasingly prioritize modern, eco-friendly office spaces in urban environments. In contrast, secondary buildings on the outskirts struggle to attract tenants.

“One line of thought in the early days of the pandemic was that business parks would become more popular as office workers sought to avoid public transport,” Grant Lonsdale, director of market analytics at CoStar, said. “The opposite became true as the threat of the virus receded and businesses and their workers sought vibrancy and social contact provided by city centres.”

Agents have talked repeatedly about a “flight to quality” over recent years, with companies demanding modern, eco-friendly sites in city centres and being happy to pay extra for those buildings. By contrast, there has been a struggle to lease space in “secondary” buildings on the outskirts of towns and cities.

“Demand [for business parks] has waned from occupiers because they need to go back into towns and city centres in order to compete for the employees,” the boss of one commercial property group said. “People don’t want to work in business parks. They want [to work] somewhere they’ll have a choice of Itsu or Pret or Starbucks.”

Business parks, a concept originating from the US and introduced in the UK during the 1980s, are now grappling with high vacancy rates. Even established parks like Aztec West near Bristol have significant available space, with vacancy rates reaching up to 30% in the past decade.

The evolving preference for city center locations underscores the importance of providing a vibrant and convenient work environment to attract and retain talent, reflecting changing expectations among employees regarding their workplace experiences.





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FCMB Group, Linkage Assurance, Ecobank top stock pick this week


Nigerian stocks depreciated 1.4 per cent last week as increased sell pressure strained the market value of shares as smart money shifted more into fixed-income assets than equities.

That is not to say stocks are losing their shine.

One bright spot during the week was growth in the size of trade, with trade volume improving 12.7 per cent and the value of transactions up also, in this case, by 55.2 per cent.

A number of equities continue to offer value for money, some now lowly priced to a level that offers a strong entry point for different investors seeking stocks with the promise of price appreciation.

PREMIUM TIMES has assembled some stocks with fundamentals and other potential, adopting key analytical approaches to save you the hassle of randomly picking equities for investment.

The selection, a product of analytical market watch, offers a guide to entering the market and taking strategic positions in hopes that equities will increase in value with the passage of time.

This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.



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Support PREMIUM TIMES’ journalism of integrity and credibility

At Premium Times, we firmly believe in the importance of high-quality journalism. Recognizing that not everyone can afford costly news subscriptions, we are dedicated to delivering meticulously researched, fact-checked news that remains freely accessible to all.

Whether you turn to Premium Times for daily updates, in-depth investigations into pressing national issues, or entertaining trending stories, we value your readership.

It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall.

Would you consider supporting us with a modest contribution on a monthly basis to help maintain our commitment to free, accessible news? 



FCMB Group

FCMB Group tops this week’s list for currently trading well below its intrinsic value. The financial services group’s price-to-book (PB) ratio ratio is 0.3x, while the price-to-earnings (PE) ratio is 3.2x.

Linkage Assurance

Linkage Assurance appears in the pick for currently trading well below its actual value.

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Its PB ratio is 0.4x, while the PE ratio is 2.8x.

Ecobank Transnational Incorporated (ETI)

ETI makes this week’s list for currently trading below its real value. The lender’s PB ratio is 0.4x, while the PE ratio is 1.4x.

AIICO Insurance

AIICO features on this week’s pick for currently trading below its intrinsic value, boosting its chances of strong price appreciation in the future. The PB of the insurer is presently 0.8x, while its PE ratio is 4.4x.

UAC of Nigeria Plc (UACN)

UACN appears on the list for trading significantly below its real value at the moment.

The conglomerate’s PB ratio is 0.9x, while its PE ratio is 2.8x.

Flour Mills

Flour Mills makes the cut for currently trading below its real value. The company’s PB ratio is currently 0.8x, while the PE ratio is 8.1x.



Support PREMIUM TIMES’ journalism of integrity and credibility

At Premium Times, we firmly believe in the importance of high-quality journalism. Recognizing that not everyone can afford costly news subscriptions, we are dedicated to delivering meticulously researched, fact-checked news that remains freely accessible to all.

Whether you turn to Premium Times for daily updates, in-depth investigations into pressing national issues, or entertaining trending stories, we value your readership.

It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall.

Would you consider supporting us with a modest contribution on a monthly basis to help maintain our commitment to free, accessible news? 

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Tiney raises £7.2m to fix the childcare crisis

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Tech-enabled childcare startup, tiney.co, set up by the founder of Teach First, has raised a £7.2m ($9m) Series A round led by Mustard Seed Partners and joined by PortfoLion, Sparkmind, and Rubio.

Tiney recruits, trains, and supports ‘micro-entrepreneurs’ to retrain as childminders and open childcare settings at home; helping to meet the acute demand for affordable, high-quality early years education across England.

Nearly half of parents in England have reported borrowing money or using savings to cover childcare costs in the last year. Faced with escalating fees, 1 in 10 mothers have exited the workforce. At the same time, nursery closures increased by 50% in 2023, as providers struggle to cover their own costs. The team behind tiney believes reinvigorating the childminding market could solve this crisis.

Thanks to the comparatively low overheads involved in running a childminding setting, tiney childminders are able to offer the highest-quality early years care at an affordable rate for parents (childminding is 15% cheaper than nursery, on average). And, at the same time, also run a successful business. Early years professionals registered with tiney earn 17% more than those registered directly with Ofsted, on average, with most earning at least the equivalent of a  teacher’s income.

Founded in 2019 by Teach First founder Brett Wigdortz OBE, Graze co-founder Edd Read, and design entrepreneur John Newbold, tiney has rapidly grown to become the largest childminder agency in England. With over 1,000 childminders registered and hundreds more currently in training, the tiney community currently provides early years education to more than 5,400 children across England. This makes the company the equivalent of the 7th largest nursery chain in the country.

Since launch, tiney has recruited a new generation of diverse talent into the childcare sector. In 2023, 42% of tiney’s recruits came from non-education related backgrounds, including law, dentistry, retail, design, and finance. Tiney was responsible for recruiting more than 40% of all new childminders in England in the second half of 2023.

With loneliness and a perception that childminding is a low-status profession being commonly cited reasons for childminders leaving the sector, tiney has designed tech-led support structures which foster community and an app which eliminates the administrative burdens of running a childcare business. This includes processing invoices, handling taxes, and ensuring they remain compliant with Ofsted regulation. Childminders can also access marketing support, business advice, lesson plans, peer support, and advice from the tiney team, all through the app. Parents are also able to book childcare, make payments, and monitor their child’s development through the tech.

Brett Wigdortz, CEO of tiney and founder of TeachFirst, comments: “The first years of a child’s development are absolutely crucial for shaping their long-term educational trajectory. Early years educators play an enormous role in this, but astronomical costs and provider shortages have robbed too many families of access to high quality care.

“That’s why we’re working to reverse the decline in childminder numbers – the most affordable form of childcare – and champion those who want to pursue a hugely rewarding role. Our success is proof that there’s a huge appetite for careers in early years when the right support is on offer. We’re finding the next generation of childminders and securing the futures of the next generation of children.”

This raise brings tiney’s total funding to date to £19m. With this new funding, tiney wants to cement its position as the largest recruiter of childminders nationwide, reverse the nationwide decline in childminding numbers, and offer more parents across the country affordable, local care in a home-from-home environment.

Stanislas de Joussineau, Co-Managing Partner at Mustard Seed Partners comments: “Solving the childcare crisis will have huge benefits for the next generation, as well as the wider economy. We believe that tiney is already demonstrating the impact that cutting-edge technology combined with a passion to improve early years can have. They are single-handedly driving up childminder numbers across England and attracting a whole new cohort of talent into the early years space. We’re looking forward to partnering with them as they continue to scale.”





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Labour hits back at ex-justice secretary who made Elphicke lobbying claims – Politics.co.uk

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Labour has appeared to call for an investigation into Sir Robert Buckland after the former justice secretary claimed Natalie Elphicke attempted to intervene in the sexual assault proceedings against her ex-husband, Charlie. 

Elphicke, who defected to the Labour Party from the Conservatives last week, has dismissed the allegations as “nonsense”. 

According to a report in The Sunday Times over the weekend, Buckland alleged that Elphicke used a meeting in 2020 to interfere in a hearing about her husband’s case.

It was alleged that Elphicke asked the Conservative MP to speak to the judge who was going to preside over Charlie Elphicke’s trial.

Buckland told The Sunday Times: “She was told in no uncertain terms [in 2020] that it would have been completely inappropriate to speak to the judge about the trial at all.”

Elphicke has previously been suspended from parliament for having tried to influence the senior judge overseeing the case, Lady Justice Whipple, by signing a letter on parliament-branded notepaper urging her not to release her husband’s character references.

Week-in-Review: Conservative defections reflect Keir Starmer’s ruthless pursuit of power

Elphicke apologised on Thursday after an interview re-emerged last week, in which she said her ex-husband was “an easy target” for false allegations because he was “attractive”.

Responding to the latest allegations, however, a spokesman for the new Labour MP said: “This is nonsense. It’s certainly true that Mr Elphicke continued to be supported after his imprisonment by a large number of Conservative MPs who had known him for a long time, including some who visited him and independently lobbied on his behalf, which was nothing to do with Natalie.”

Speaking on Monday morning, shadow minister and former privileges committee chair Sir Chris Bryant noted that during his time on the committee they investigated Elphicke and her conduct.

He told Sky News: “Now, when we were doing that investigation, I would have thought that if what Robert Buckland has said today, namely that he says that she lobbied him, if that is true, he should have told our committee.

“So if anybody should be being investigated by the parliamentary commissioner for standards — and he’s perfectly independent, it’s up to him to decide — frankly, it should be Robert Buckland”.

Penny Mordaunt jokes she is ‘too left wing’ to join Labour after Elphicke defection

Meanwhile, a Conservative frontbencher has repeated the line that Labour should launch an investigation over the claims relating to Elphicke.

Maria Caulfield, a health minister, told Times Radio that whether there is a probe is ultimately up to Labour after Elphicke’s defection to the party last week but she believed “there probably should be”.

Politics.co.uk is the UK’s leading digital-only political website, providing comprehensive coverage of UK politics. Subscribe to our free daily newsletter here.





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