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Just Group shares slide after it reveals sales plunge

first_img whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKansas coach fired for using N-word toward Black playerthegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Just Group shares fell more than seven per cent this morning after it revealed a plunge in sales.The retirement group said retirement income sales for the three months to 31 March were 59 per cent lower than for the previous quarter, which it said was a result of a lower level of completed defined benefit de-risking sales. Just Group said the lower level of volumes reflects pricing increases implemented following new, tougher Bank of England rules on equity release mortgages.Read more: Provident appoints new finance chief after turbulent 18 monthsLifetime Mortgage advances of £79m were down 47 per cent, which it said was a result of a focus on capital efficiency.Interim chief executive David Richardson said: “Today’s update reflects our disciplined approach to the management of our capital in the new regulatory regime. Our GIfL price increases and DB pricing standards have been implemented rigorously, ensuring that we deliver to shareholders a new business internal rate of return in line with our targeted mid-teen levels. The continued growth in our markets gives us confidence that there remains a considerable opportunity to deploy capital in a disciplined and profitable manner.”The company said it would close its US business as it aimed to bolster its capital position. Read more: Just Group raises £375m to comply with new regulationsDefined benefit sales were down 90 per cent year-on-year to £26m which it said was due to a temporary reduction in activity levels in its target segment.The company said that in the second quarter so far it had completed a series of transactions with a value in excess of £300m and said its run rate is returning to that of the second half of 2018.“The pipeline remains full and market pricing is attractive,” it added.Guaranteed income for life (Gifl) sales were down 23 per cent year-on-year to £145m. James Booth Just Group shares slide after it reveals sales plunge center_img “Our capital position has been much improved by the £375m raised in March, and we are absolutely focused on achieving capital neutrality by 2022. We have a plan in place to ensure we achieve this target, which includes a number of actions we will be taking over the course of this year. These include a renewed focus on cost control, the closure of loss making operations such as the US, reductions in new business LTM backing ratios and a shift towards more capital efficient assets,” Richardson said.At the end of April chief executive Rodney Cook resigned following a turbulent year that included cancelling its dividend and raising £375m in fresh capital in March. Tags: Trading Archive whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndoFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionUndoDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyUndoHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndoPost FunThe Deadliest Snakes Ever Found On The PlanetPost FunUndo Thursday 16 May 2019 8:58 am Sharelast_img read more

UK set to burn in record-breaking 39C heatwave

first_img The Met Office’s Greg Dewhurst said that there is a 60 per cent chance today’s temperature will surpass this level. UK set to burn in record-breaking 39C heatwave today As the UK’s three-day heatwave reaches its crescendo, the country is bracing for what may be the hottest British day on record – beating the 38C set in Kent in 2003. “It will get to the 30s across the country and reach the mid-30s in the south east. If it is to get to 39C, it will happen somewhere between London and Cambridge,” he said. Scorching hot weather will fry the UK today, as temperatures in London and the south east are set to break records at a blistering 39C. Read more: Retailers prepare to cash in on UK heatwave Similarly, Transport for London (TfL) warned of potential Tube disruption today as it conducts regular checks on track temperatures. Thursday 25 July 2019 11:43 am Share Read more: Commuters urged to avoid travelling in scorching UK temperatures The worst affected routes were those in and out of London Victoria, Blackfriars, East Croydon, Gatwick Airport and Brighton. center_img “We might need to reduce the speed of our trains at some locations this week as a result of the hot weather. This may mean that your journeys take longer than usual,” it said. Meanwhile thunder and lightning is set to lash the UK later tonight as the Met Office warned flooding could lead to train delays and cancellations. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand Solarbonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPsoriatic Arthritis | Search AdsWhat Is Psoriatic Arthritis? See Signs (Some Symptoms May Surprise)Psoriatic Arthritis | Search AdsLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OraclePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldBest Selling Grills | Search AdsTraeger Blaze & American Grills On SaleBest Selling Grills | Search AdsGraber BlindsWindow Treatments So Sophisticated, It’s Hard to Believe They’re so AffordableGraber Blinds Greater Anglia said the hot weather makes train tracks “more susceptible to buckling”, forcing services to run at a reduced speed. The sizzling heat played havoc with commuters’ journeys to work this morning as rail operators warned passengers to work from home. “There is a chance that power cuts could occur and other services to some homes and businesses could be lost,” the Met Office added. whatsapp LONDON, ENGLAND – AUGUST 06: City workers eat their lunches in front of St Paul’s Cathedral during the sweltering lunchtime break in the City of London on August 6, 2018 in London, United Kingdom. The Met Office has said that the UK heatwave will last until Wednesday morning, with temperatures of up to 35C possible in London. Forecasters are also predicting the warm summer weather seen this year could last until October. (Photo by Jack Taylor/Getty Images) whatsapp Hector Macdonald last_img read more

Coastal lawmakers pan Dunleavy’s ferry budget proposal

first_imgSoutheast | Southwest | State Government | TransportationCoastal lawmakers pan Dunleavy’s ferry budget proposalDecember 16, 2020 by Jacob Resneck, CoastAlaska Share:The Alaska Marine Highway System ferry Columbia passes through Wrangell Narrows headed south from Petersburg in Southeast Alaska, June 15. 2012. (Photo by Skip Gray/KTOO)Gov. Mike Dunleavy proposes about $51 million to run state ferries. It’s actually slightly more than he initially proposed last year. But it’s much less than historically appropriated to the fleet.Lawmakers weren’t comfortable with Dunleavy’s budget last year. They added in about 25% more to their budget to reduce service gaps. But the governor erased most of the extra funds with a stroke of his veto pen.Now, he’s proposing to run the ferries with $2.4 million less than he ultimately signed off on last year. He told reporters that he’s looking for guidance from a task force he appointed that spent most of the year studying the Marine Highway and delivered its final report this fall.“We really believe that there needs to be a discussion with the (Alaska) Marine Highway Reshaping Committee,” the governor told reporters last Friday, “which I hope also takes place and we’ll be talking to legislature about that, because that committee worked on looking at ways to again, make the ferry system sustainable for coastal Alaska.”Kodiak Republican Rep. Louise Stutes sat on the nine-member work group.“He’s had that report since October, and to my knowledge, there’s been no outreach to that reshaping group,” she said. “And there was no suggestions whatsoever in that report that that budget should be cut.”She’s a staunch defender of public investment on the Alaska Marine Highway and critical of the governor.“He says he’s listening to Alaska as well, he apparently didn’t hear the outcry of people in support of the marine highway system,” she added.Funding for the Marine Highway will likely be contentious in Juneau this year.Railbelt interests have long criticized the expense of running the fleet, while coastal residents argue it’s critical infrastructure for communities with little or no road access.Ketchikan independent Rep. Dan Ortiz co-chaired the House Finance Committee for the past two years. He says long service gaps are already a problem at current levels. And he calls the governor’s ferry budget “disappointing.”“It was an indication to me that the marine highway continues not to be a priority for this particular governor,” Ortiz said, “even though it’s certainly an integral part of our transportation system infrastructure for all coastal Alaskans.”This year the Department of Transportation reported a steep drop in fare revenue as fewer people traveled during the COVID-19 pandemic. DOT has been scheduling one mainliner at a time, leaving little-to-no slack in the system if a ship breaks down. That’s led to months-long service gaps — planned and unplanned — as the fleet struggles to keep communities connected.Share this story:last_img read more

No progress on avoiding Alaska state government shutdown; new special session next week

first_imgEconomy | Juneau | Politics | Southcentral | State GovernmentNo progress on avoiding Alaska state government shutdown; new special session next weekJune 18, 2021 by Andrew Kitchenman, KTOO and Alaska Public Media Share:Alaska House Speaker Louise Stutes, R-Kodiak, in front, presides over a nearly empty chamber on the last day of the special session. There was a brief technical floor session. Gov. Mike Dunleavy has called the Legislature into another special session starting on Wednesday. (Photo by Andrew Kitchenman/KTOO and Alaska Public Media)The Alaska legislative special session ended on Friday without an agreement to avoid a state government shutdown on July 1. Gov. Mike Dunleavy called the Legislature back into a new special session to start on Wednesday, June 23, with the goal of reaching agreement. He issued the call shortly after the House held a brief technical floor session to end the first 30-day special session.Nearly 15,000 Alaska state workers received layoff notices on Thursday. Legal ArgumentsDunleavy and the Department of Law cite a section of the state constitution in giving the reason for the shutdown. That section requires that bills go into effect 90 days after they become laws, unless two-thirds of both legislative bodies approve a different day. While the Senate had enough votes to approve July 1 as the day when the budget would go into effect, the House didn’t. “The budget passed this week is constitutionally impaired if the goal was for it to take effect on July 1,” said Dunleavy. House majority leaders said on Friday that the layoff notices and potential shutdown were Dunleavy’s choice. They point to a history of Alaska governors spending money based on bills that lacked the same effective-date provision as this year’s budget bill. And they did it based on advice they received from state lawyers. They say he could draw from available funds to cover state spending during the time period before the legal effective date.“His choice to send out pink slips is a very sad day for Alaskans,” said House Speaker Louise Stutes of Dunleavy. “To put them on shaky ground needlessly is very distressing.”Stutes is a Kodiak Republican who leads a caucus with 15 Democrats, four independents and one other Republican.House majority leaders said Dunleavy should ask members of the House minority to vote for the effective date. Dunleavy told conservative talk show host Michael Dukes on Friday that the House majority tried to pressure the minority.“Nobody should be strong-arming the other side,” he said. “They’ve got to sit down and work together and craft something that’s going to work, in which they want to bring people together, as opposed to twist arms and force them to vote. And that’s what happened the other day. That arm-twisting didn’t work. This is the result.”What budget opponents wantWith a shutdown on the horizon, legislators who voted to block the budget from going into effect on time gave the first public outline of what they want to avoid the shutdown. Members of the Republican House minority caucus said they want agreement on the components of a long-term plan for the state budget. Rep. Cathy Tilton did not say how detailed the agreement on the components must be. But she did say it extends beyond passing the budget.“The budget is a part of that conversation,” she said. “It’s an integral part. But it’s not the only component of this long-term fiscal stability that we’re looking to get to.”Other Republicans who voted against a July 1 start to the budget emphasized specific issues. Anchorage Rep. James Kaufman said he wants the Legislature to agree on what the sequence of policy changes will be, including which changes must happen at the same time. “For me, what this would look like would be the framework — the master framework — of what we’re doing, what components have already been put in place, and then what possible pieces need to be in place that are not yet there,” he said. North Pole Republican Rep. Mike Prax emphasized that the permanent fund dividends should be drawn from permanent fund earnings, and not other sources of funding, like most of the dividend money was in the budget bill. “The permanent fund dividend is only a permanent fund dividend, if it comes from the earnings of the permanent fund: easy concept,” he said, adding that if it comes from some other account it “is not a permanent fund dividend. We have to start recognizing that, and not letting them get away with deceptive words.”Dividend remains controversialLike in other years, lawmakers remain divided over the size of PFDs.In May, Dunleavy proposed making dividends half of the annual draw from the permanent fund as part of a constitutional amendment to move permanent fund earnings into the constitutionally protected principal. This year’s dividend under the formula change would be roughly $2,350, rather than the roughly $3,500 they would receive under a formula in state law that hasn’t been followed the past five years. But lawmakers who worked on the budget are concerned that dividends of that size will draw down the earnings reserve account (ERA) and threaten the permanent fund’s future. Eagle River Rep. Kelly Merrick is, along with Stutes, one of the two Republicans in the House majority. She noted that Dunleavy’s administration wants the Legislature to adopt the $2,350 dividend formula before any other major changes.“They are hoping to have that conversation about revenue and cuts later,” she said. “And I feel like it needs to be done at the same time, because you can’t pay out a big PFD now and decide how to pay for it later.”Nonpartisan legislative analysts estimate the governor’s PFD proposal would lead to an average deficit of $1 billion per year for the next nine years under current state policies. Dunleavy’s administration hasn’t proposed policy changes on the scale necessary to close this gap. The nonpartisan analysts estimate that without new revenue or spending cuts, the state budget would be balanced in the long term with dividends of roughly $500 to $600. Dillingham independent Rep. Bryce Edgmon, a member of the House majority caucus, said the state may be able to pay dividends in the range of the $1,100 included in the original version of this year’s budget without instituting a broad-based tax. “We have the ability — if we do it right — to maintain essential services to the degree that Alaskans depend on them; have a sustainable permanent fund dividend at around the historical average of the dividend since it began in 1982; and have an environment where we continue to have low taxes in Alaska,” he said. Power Cost Equalization, scholarships remain unfundedThe failure of the effective date vote on the budget isn’t the only outstanding budget issue. Both chambers failed to pass a provision to draw funds from the Constitutional Budget Reserve.Every year, that vote is used to re-stock dozens of funds, including the $1 billion Power Cost Equalization Fund, which lowers the cost of electricity in rural and other high-cost areas. The $340 million Alaska Higher Education Investment Fund also is maintained through the CBR vote. It funds $11.8 million in Alaska Performance Scholarships for high-achieving students and $6.4 million in Alaska Education Grants for students with financial need.To restore these funds would require an even higher vote threshold then to pass the effective date clause — three quarters of both legislative chambers.  The next special session is scheduled to begin at 10 a.m. on Wednesday in the Capitol.Share this story:last_img read more

From Milifans to the Hound of Hounslow: here’s what got us talking this week

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekInvestment GuruRemember Cote De Pablo? Take A Deep Breath Before You See Her NowInvestment GuruComedyAbandoned Submarines Floating Around the WorldComedyGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent Express whatsapp Show Comments ▼ Emma Haslett It was the week which began with the transformation of the Labour leader into an idol (stop cringing at the back, please) and ended with HSBC threatening to leave these fair shores (again)….Here’s what got us talking this week1. ElectionThe election campaign trudges on wearily, with a little under two weeks until the big day. There was a little light relief this week, when the Milifan club went head-to-head with the Cameronettes. Then Grant Shapps was alleged to have edited his rivals’ Wikipedia pages to make them look worse. Busted.  Still: we’ve tried to make it interesting. We’ve got a detailed look at how each party wants to solve the housing crisis here – plus, we’ve ranked all UK’s MPs by how good they are on social media. 2. TescoTesco’s first quarter this week were worse than most analysts had feared – but in the event, it seems shareholders had been expecting something along those lines, because the supermarket’s share price spend the day yo-yoing (and here’s why it did). Never one to overstate things, new chief exec Dave Lewis said he was “not happy at all” with the massive loss it posted. Check out his sad face here. 3. The Hound of HounslowDepending on who you listen to, he’s either an international criminal mastermind who caused the Nasdaq’s biggest-ever one-day drop or a quiet bloke from West London who was in the wrong place at the wrong time (that’s what his former employer reckons, anyway). Either way, day trader Navinder Singh Sarao is in a lot of trouble.Until this week, most of us had forgotten about the flash crash of 2010 – here’s an explanation of how it happened – and here’s how much the whistleblower who informed on him stands to make. 4. The Apple watch has landedThe hallowed day has arrived: the Apple Watch has hit the shops. Or the postboxes. Or whatever it’s supposed to have done. While many are hanging back to see whether it makes an impact, app developers have already been hard at work – even though they haven’t had a prototype to work with. Check out our rundown of the best apps so far.5. More bank dramaAt £1.7bn, the fine handed out to Deutsche Bank by US and UK regulators was the largest ever in the rate-fixing scandal (and a huge amount more than the €1.5bn – about £1bn – it set aside for the penalty). As has become the tradition in these sorts of cases, the regulator published some of the “banter” that took place between rate-fixing traders. Warning: you’re going to cringe. Meanwhile, HSBC has had enough of this regulatory huffing and puffing: it announced it’s investigating whether or not to head off into the sunset. Admittedly, it’s made this threat a few times before – but here are five charts that show why it might actually mean it this time. Leisurely readsIt’s London Marathon weekend, which means the world’s greatest runners are heading to the capital. As Paula Radcliffe makes her last appearance, we’ve looked at her most impressive performances. Take a look here.  Seven months into the job, is Tesco chief executive Dave Lewis the right man to lead a turnaround? Despite this week’s car crash results, the City is impressed.  And as polling day approaches, there’s a lot of hand-wringing going on in business. But what about the rest of us? Should we be worried? We take a deep breath and try to decide…. From elsewhereTransport for London boss Sir Peter Hendy clearly isn’t one to mince his words: in an interview with Management Today magazine, he likens London’s train network to the Wild West. “They are s**t, awful,” he says. “And then every now and then some people who look like the Gestapo get on and fine everyone they can. It doesn’t improve your day, does it?”. Well, quite…  As Greece approaches yet another deadline to come up with reforms its lenders approve of, Yanis Varoufakis, its finance minister, takes to his blog to explain why the country’s leaders are resisting their demands. But he’s also optimistic: “The current disagreements with our partners are not unbridgeable,” he says. What would it feel like if you were on a rollecoaster shaped like Nasdaq’s share price chart since 1994? The Wall Street Journal has provided an answer to a question almost no one has ever asked. Nevertheless – it’s pretty entertaining. The last word whatsapp Share Friday 24 April 2015 12:00 pm From Milifans to the Hound of Hounslow: here’s what got us talking this week Tags: NULLlast_img read more

New York Stock Exchange resumes trading after outage

first_imgThe New York Stock Exchange (NYSE) has resumed trading after an outage lasting over three hours, which it said was due to a technical issue and not a cyber attack.Trading in all securities on the New York Stock Exchange halted at 11.32am ET (4.30pm BST) today. “The issue we are experiencing is an internal technical issue and is not the result of a cyber breach,” the NYSE said in one of a series of tweets.”We chose to suspend trading on NYSE to avoid problems arising from our technical issue.”After the outage the NYSE posted a statement on its market status page saying “[The NYSE] has temporarily suspended trading in all symbols. Additional information will follow as soon as possible.”It also took to Twitter assuring traders it was working quickly to resolve the technical issue, and would provide further updates as soon as possible.Trading in NYSE-listed shares has continued on other indexes such as the NASDAQ, with many markets trading around the same point as they before the outage.(1 of 3) The issue we are experiencing is an internal technical issue and is not the result of a cyber breach.— NYSE ? (@NYSE) July 8, 2015(2 of 3) We chose to suspend trading on NYSE to avoid problems arising from our technical issue.— NYSE ? (@NYSE) July 8, 2015(3 of 3) NYSE-listed securities continue to trade unaffected on other market centers.— NYSE ? (@NYSE) July 8, 2015(1 of 2) We’re experiencing a technical issue that we’re working to resolve as quickly as possible.— NYSE ? (@NYSE) July 8, 2015(2 of 2) We’re doing our utmost to produce a swift resolution & will be providing further updates as soon as we can.— NYSE ? (@NYSE) July 8, 2015(1 of 3) The issue we are experiencing is an internal technical issue and is not the result of a cyber breach.— NYSE ? (@NYSE) July 8, 2015 Show Comments ▼ Wednesday 8 July 2015 3:29 pm whatsapp Jessica Morris Share whatsapp New York Stock Exchange resumes trading after outage Tags: NULL More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comWhite House Again Downplays Fourth Possible Coronvirus Checkvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comlast_img read more

Powell discusses ‘renewed concerns’ about global economy

first_imgFederal reserve building, Washington DC tananu9/123RF Related news RBC CEO sees inflationary pressure building as economy bounces back Powell did not commit to a rate cut but said the central bank will closely monitor incoming data and be prepared to “act as appropriate to sustain the expansion.”Many economists believe the Fed could decide at its next meeting on July 30-31 to cut its key policy rate, something it has not done since 2008.In his remarks, Powell said that the outlook for the economy had changed since the May meeting.“The crosscurrents have remerged, with apparent progress on trade turning to greater uncertainty and with incoming data raising renewed concerns about the strength of the global economy,” he said.In early May, President Donald Trump more than doubled the tariffs on Chinese goods after U.S.-China trade talks broke down. The president threatened to essentially hit all Chinse imports with tariffs if China does not meet its demands for greater protections for U.S. technology.Trump’s moves sent financial markets tumbling because of concerns the trade conflict could end the current 10-year economic expansion, which in July will become the longest in U.S. history.Trump is scheduled to meet Chinse President Xi Jinping later this week at the Group of 20 economic summit in Japan, a meeting that is being closely watched for signals that the two sides are prepared to resume talks in search of a trade deal.In addition to rising trade tensions, Powell said since May incoming data has raised new concerns about the strength of the global economy, noting tentative signs that investment by U.S. businesses has slowed from earlier this year.Powell said the baseline outlook for the U.S. economy remains favourable for continued growth but “the risks to this favourable baseline outlook appear to have grown.”“The question my colleagues and I are grappling with is whether these uncertainties will continue to weigh on the outlook and thus call for additional policy accommodation,” he said.Many Fed officials believe the case for easier monetary policy has strengthened, but “we are also mindful that monetary policy should not overreact to any individual data point or short-term swing in sentiment,” he said.Powell said that would risk adding even more uncertainty to the outlook.Earlier this year, economists believed the Fed would keep its key policy rate unchanged all year long after four rate hikes last year. Now private economists believe from two to four rate cuts are possible this year, although some analysts think the Fed could keep policy unchanged if trade tensions are resolved without harming the economy.Trump on Monday tweeted that the Fed “blew it” by not cuttings rates at its meeting last week. At that session the Fed kept its policy rate unchanged in a range of 2.25% to 2.5% but dropped a previous pledge to be “patient” in changing rates in coming months. Keywords Interest ratesCompanies Federal Reserve Board Federal Reserve Chairman Jerome Powell said Tuesday the economic outlook has become cloudier since early May, with rising uncertainties over trade and global growth causing the central bank to reassess its next move on interest rates.Speaking to the Council on Foreign Relations in New York, Powell said the Fed is now grappling with the question of whether those uncertainties will continue to weigh on the outlook and require action. Fed is in no hurry to raise interest rates, Powell says CRA announces prescribed interest rates for Q2 Martin Crutsinger, The Associated Press Facebook LinkedIn Twitter Share this article and your comments with peers on social medialast_img read more

Farmers encouraged to mulch their fields

first_imgAdvertisements By GLENIS  ROSE, JIS Reporter                     RelatedFarmers encouraged to mulch their fields RelatedFarmers encouraged to mulch their fields FacebookTwitterWhatsAppEmail MONTEGO BAY — Farmers across  the country have been encouraged to mulch their fields  and  to  give free days  on each other’s farms, in order to cut costs and become more competitive. Support Service Manager at the Grand Palladium Hotel in Montego Bay, Leroy Peart,  told farmers at the recent St. James Association of Branch Societies annual general meeting  in Montego Bay,  that they should “unearth that co-operative spirit” that was so effective in the past. “Consider having four to six men coming together to work on a farm. I put it to you that when those persons come together on a farm for a day, the amount of work that is accomplished, far outstrip each person acting alone.  This was effective in the past, and is  a practical way of helping the farmer to reduce cost,” he  said. “I am challenging the Jamaica Agricultural Society, the Rural Agricultural Development Authority (RADA)  and all farmers  to return to that practice, so that you can become more competitive,” Mr. Peart added. He also encouraged farmers to practise organic  farming, with mulching in the mix, which could have far-reaching effect on maintaining moisture in the soil for greater productivity. “This practice of mulching is one of the main features and practice exercised by farmers of St. Elizabeth and they do it successfully. We all know that when we are doing mini-set yam production, plastic mulching is used to retain moisture in the soil and keep down the weed,”  Mr. Peart said. Commenting on the scourge of praedial larceny and its effect on farmers, he  argued that if farmers adopt the principle of,  ‘I am my brother’s keeper,’ then this age-old problem could be successfully controlled. “I am aware of initiatives promulgated over time, but it is my view that the greatest effect lies in the vigilance of our neighbours. Most times miscreants or thieves are seen, but no one will come forward or say anything. Be your brother’s keeper, as much can  be accomplished in tandem with other measures,”  Mr. Peart said. He  pointed out that despite the many and varied challenges in the industry, farmers  are some of the country’s most skilled and astute business persons. “You use the factors of production in the most unpredictable environment, subject to the most susceptible and, in some cases uncontrollable variables that can impact a work in progress,” Mr. Peart told the farmers.                      Farmers encouraged to mulch their fields AgricultureJune 27, 2011 RelatedFarmers encouraged to mulch their fieldslast_img read more

A Fresh Vision at Snappy’s

first_img Email Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. EVERGREEN — To walk into Snappy Sport Senter is to enter an outdoor enthusiast’s paradise, with plenty of the equipment, clothing, and local knowledge needed for a successful sports store to survive.But just a quick trip to the upstairs of the sports store transports the visitor to a new type of enthusiasm for the outdoors and the environment, this kind expressed through acrylic paint on canvas or bronze work.Paintings of scenes straight from the heart of Glacier National Park and other wilderness areas of Northwest Montana hang on every wall, with the detail in these huge pieces so intricate that a viewer could mistake it for a window or a photograph.And sitting quietly nearby, the paintings’ creator Allen Jimmerson is happy to watch people enjoy the art and often surprises the viewer with the information that he is the artist who also mans the gallery.“This part of the gallery has been up here since 1996,” Jimmerson said. “We’ve always been hidden away.”That incognito existence is about to go out the window, now that Snappy has refurbished the space, removing a gift shop and giving that space over to the gallery. Jimmerson and other Snappy employees went to work, spending a month cleaning it up, adding black panels to the walls, installing soft, natural lighting, and bringing the personality out of the wood floors.Now the gallery has about 4,000 square feet with which to work, and to celebrate the new dedication to more art, Snappy will host its first art show and exhibition, “Three Visionaries.”Jimmerson’s work will be on display, along with local acrylic artist Robin Sorg and bronze sculptor Sunti Pichetchaiyakul, who is based in Whitefish.The opening reception, another first for the gallery, will be on Nov. 12, from 5:30 p.m. to 8 p.m., and include drinks, food from DeSoto Grill, and music provided by a quartet from the Glacier Symphony. There is no ticket required for entrance.It will be a Montana-classy affair, Jimmerson said, perfect for a date night. The store will be shut down and guests will use the entrance near the life-sized bronze elk statue.“Wear your best jeans,” Jimmerson said.All three artists will be in attendance, giving visitors the rare opportunity to not only consider the art, but ask about its origins. Pichetchaiyakul, whose work is known worldwide, lent his “Chief Sitting Bull” bust to the show, and plans on bringing a couple more for the reception. He is considered among the world’s leading sculptors of portraiture and hyper-realism, and is particularly well-regarded in Thailand.Sorg’s pieces focus on her deep connection to nature, with a special attention to birds for this show. She works as a graphic designer and illustrator, and her art has been shown in Coeur d’Alene, and also hangs in the Dick Idol Gallery in Whitefish and at Wild Eye in Kalispell.She said she’s excited about the show at the Snappy’s, especially with all the new space.“It seems like a gallery more than just an upstairs now,” Sorg said.Jimmerson’s paintings have illuminated the life and scenes within Glacier Park for years. As a dedicated outdoorsman, his original paintings are sought out by various outdoor groups. A prolific painter, Jimmerson is considered a “Glacier Park Artist” after his painting, “Heavy Shield,” was officially chosen as artwork for Glacier Park’s 2010 Centennial celebration. He was also selected as the artist for the 80th Anniversary of Glacier International Peace Park Assembly.One of Sorg’s originals recently sold, and Jimmerson said the gallery tends to attract all types. But now that it is larger and capable of hosting shows, Jimmerson contends the cozy, intimate feel of the gallery will remain the same.“A lot of people want to talk to the artist,” he said. “We get from all over the world up here.”For more information, visit www.snappysportsenter.com.last_img read more

Section V Semifinal Preview: Boys’ Basketball Class D2

first_img Print This Post Connect on Linked in Share on Facebook Subscribe by Email Follow on Facebook Section V Semifinal Preview: Boys’ Basketball Class D2 This site uses Akismet to reduce spam. Learn how your comment data is processed.center_img Add to Google+ Section V Semifinal Preview: Boys’ Basketball Class D2 added by Mike DeSanto on February 24, 2019View all posts by Mike DeSanto →FacebookTwitter分享by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksSponsor ContentBig Data Courses | Search AdOnline Big Data Courses Might Be Better than You ThinkBig Data Courses | Search AdCosmoWomensTop 30 Most Beautiful Women in the WorldCosmoWomensAirPhysioThis All-Natural “Lung Cleaning” Device Helps Anyone Breathe EasierAirPhysioby Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksMore from Pickin’ SplintersBaron keeps Bonaventure close to his heart – Pickin’ SplintersTah-Jae Hill, Zion Morrison and the Starting Five – Pickin’ Splinters”If you had a Mount Rushmore of MCC baseball, he’s on there.” Longtime assistant Jack Christensen passes away – Pickin’ Splinters It’s Steuben County versus Finger Lakes West in one semifinal. Genesee Region meets Allegany County in the other. Here’s the breakdown:No. 1 PRATTSBURGH (18-3/Steuben County) vs. No. 5 ROMULUS (8-13/Finger Lakes West) Feb. 25, 6 p.m. at HaverlingScoring offense: Prattsburgh (70.90 PPG), Romulus (48.45 PPG)Scoring defense: Prattsburgh (53.65 PPG), Romulus (56.65 PPG)Streak: Prattsburgh has won three of its last four. Romulus has won two of its last seven.How they got here: Prattsburgh got going quickly thanks to 18 first quarter points for Mason Putnam, leading 26-6 after one, and rolled through No. 8 seed Destiny Christian 99-68 in the quarterfinals.Romulus upset No. 4 seed Andover 59-46 in the quarterfinals.Last time they met:  This will be the first matchup between Prattsburgh and Romulus this season.Players to Watch for Prattsburgh: Mason Putnam Jr. 31.5 PPG, 4.6 RPG, 4.8 steals, 3.8 APG, 1,640 career points (seventh on active scoring leader list); Kris Johnson So. 11.9 PPG, 6.3 RPG; James Crowder So. 8.7 PPG, 10.0 RPG, 5.0 APG.Romulus: Camden Derby Jr., Spencer John Sr., Max Mapstone Sr. and Daryl Morrell Jr.Screen grab courtesy of Section V Athletics.No. 2 ELBA (16-5/Genesee Region Division II) vs. No. 3 BELFAST (15-6/Allegany County Division II) Feb. 25 7 p.m. at WarsawScoring offense: Elba (59.25 PPG), Belfast (62.00 PPG)Scoring defense: Elba (52.10 PPG), Belfast (53.85 PPG)Streak: Elba has won two of its last three. Belfast has won five straight.How they got here: Colton Dillon knocked down 10 shots for 31 points to lead Elba past No. 7 seed Bradford 70-30 in the quarterfinals.Belfast drubbed No. 6 seed Houghton 71-43 in the quarterfinals.Last time they met:  This will be the teams’ first meeting this season.Players to Watch for Elba: Jon Boyce Sr. 17 double-doubles (tied for third-most in Section V); Colton Dillon Jr. 13 double-doubles (tied for seventh-most in Section V).Belfast: Adam Enders Sr. 27.7 PPG, 2,442 career points (second among active scoring leaders); Kevin McCumiskey Sr. 13.7 PPG. By Mike DeSanto on February 24, 2019No Comment Leave a Reply Cancel ReplyYour email address will not be published.last_img read more