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Fed announces unlimited QE to tackle coronavirus slowdown

first_imgThe policies had the desired effect on the US bond market, however, where 10-year Treasury yields fell by 0.13 percentage points to 0.725 per cent. Yields move inversely to price. Yet she said that central bank action will not be enough to help the economy on its own. “Congress urgently needs to deliver a large-scale fiscal stimulus program.” More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comPuffer fish snaps a selfie with lucky‘Neighbor from hell’ faces new charges after scaring off home It also launched a facility to buy securities backed by student, car and credit card loans, helping support markets that have come under pressure during the coronavirus slowdown. “Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate,” the Fed said in a statement today. The Fed said it will buy bonds “in the amounts needed to support smooth market functioning and effective transmission of monetary policy”.  US Federal Reserve chairman Jerome Powell has unveiled a series of unprecedented market interventions during the coronavirus outbreak (AFP via Getty Images) Monday 23 March 2020 3:56 pm whatsapp Harry Robertson Show Comments ▼ US Federal Reserve chairman Jerome Powell has unveiled a series of unprecedented market interventions during the coronavirus outbreak (AFP via Getty Images) Also Read: US Federal Reserve announces unlimited bond-buying to tackle coronavirus slowdown It was just the latest major move by a Federal Reserve that has in recent weeks slashed interest rates to zero, pumped trillions of dollars into short-term money markets and expanded its asset purchases to support the real economy. The Fed said its new facilities will support the flow of $300bn worth of credit for employers, consumers and businesses. Share The Fed said it would directly support US firms, unveiling two new facilities that let it directly purchase corporate bonds. “The Federal Reserve is committed to using its full range of tools to support households, businesses, and the US economy.” Yet once again the move failed to quell investors’ fears, with Wall Street stocks falling in morning trading. The S&P 500 was last down 4.3 per cent, the Dow Jones was 4.5 per cent lower, and the Nasdaq was down 2.8 per cent. It had previously committed to buying at least $500bn (£434bn) of government bonds and $200bn of mortgage-backed securities. The Fed’s latest statement paves the way for potentially a big expansion of its quantitative easing (QE) programme, under which it creates digital money to buy bonds. Markets unimpressed by major steps whatsapp The US Federal Reserve has pledged to buy a potentially unlimited amount of government debt and ramp up lending support to businesses in its latest massive intervention in an economy ravaged by coronavirus. US Federal Reserve chairman Jerome Powell has unveiled a series of unprecedented market interventions during the coronavirus outbreak (AFP via Getty Images) Also Read: US Federal Reserve announces unlimited bond-buying to tackle coronavirus slowdown The central bank’s intervention came as the US Senate remained gridlocked over a stimulus package that could be worth almost $2 trillion. Senate Democrats blocked the Republican-designed package, saying it did not do enough for workers or hospitals. Kathy Bostjancic, chief US financial economist at consultancy Oxford Economics, said: “The Fed is doing ‘whatever it takes’ to improve the smooth functioning markets and support the economy.” US Federal Reserve announces unlimited bond-buying to tackle coronavirus slowdown last_img read more

Following health care vote, Trump singles out Murkowski with critical tweet

first_imgSenator @lisamurkowski of the Great State of Alaska really let the Republicans, and our country, down yesterday. Too bad!— Donald J. Trump (@realDonaldTrump) July 26, 2017Murkowski and Susan Collins of Maine were the only Republican senators to vote no on the measure, causing a 50-50 split, which required a tie-breaking vote from Vice President Mike Pence.Murkowski said in an interview with MSNBC today she is isn’t very concerned about the president’s tweet, or how it affects her political future.“I don’t think it’s wise to be operating on a daily basis thinking about what a statement or a response that causes you to be fearful of your electoral prospects,” Murkowski said. “We’re here to govern.”Murkowski reminded the reporter that she isn’t up for re-election until 2022. She voted against today’s partial repeal amendment, while Sen. Dan Sullivan voted in support of the amendment.Update: This story has been updated to reflect the vote on a partial repeal of the Affordable Care Act. Share this story: Federal Government | Health | Nation & WorldFollowing health care vote, Trump singles out Murkowski with critical tweetJuly 26, 2017 by Wesley Early, Alaska Public Media Share:U.S. Sen. Lisa Murkowski speaks to a Joint Session of the Alaska Legislature, Feb. 22, 2017. (Photo by Skip Gray/360 North)This afternoon, the U.S. Senate voted against an amendment to partially repeal the Affordable Care Act in a 55-45 split.It was one of several votes concerning the health law in two days.Following Tuesday’s narrow Senate vote to allow debate on repealing and replacing the Affordable Care Act, President Donald Trump tweeted his disapproval toward Sen. Lisa Murkowski — stating that she “let the Republicans and our country down.”The crowd in Ohio was amazing last night – broke all records. We all had a great time in a great State. Will be back soon!— Donald J. Trump (@realDonaldTrump) July 26, 2017last_img read more

Q&A: Abandoning TPP trade deal could spell trouble for biopharma

first_img Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. About the Author Reprints GET STARTED Tags biotechnologypharmaceuticalspolicypolitics Meghana Keshavan Unlock this article — plus daily coverage and analysis of the pharma industry — by subscribing to STAT+. First 30 days free. GET STARTED What is it? [email protected] Courtesy McDonnell, Boehnen, Hulbert & Berghoffcenter_img By Meghana Keshavan Jan. 24, 2017 Reprints Biotech Correspondent Meghana covers biotech and contributes to The Readout newsletter. What’s included? Q&A: Abandoning TPP trade deal could spell trouble for biopharma Pharma As promised, President Trump has promptly abandoned the Trans-Pacific Partnership. What might this mean for biopharma?Nixing the so-called TPP could spell trouble for the biopharmaceutical industry moving forward when it comes to market exclusivity, according to Kevin Noonan, a partner at Chicago-based intellectual property law firm McDonnell Boehnen Hulbert & Berghoff. @megkesh Log In | Learn More last_img read more

Dawn Wells, who played Mary Ann on ‘Gilligan’s Island,’ dies of COVID-19 complications at 82

first_img2’s Review: ‘Farce of Nature’ is a force to be reckoned with June 11, 2021 Advertisement ‘Sound of Music’ star Christopher Plummer dies February 5, 2021 RELATEDTOPICS 2’s Review: ‘Beehive – the 60s Musical’ takes a stroll down Memory Lane June 2, 2021 CNN – Dawn Wells died in Los Angeles Wednesday from COVID-19 complications, her publicist Harlan Boll confirmed to CNN. Wells was most famous for playing the lovable castaway character Mary Ann Summers on “Gilligan’s Island.”She was 82-years-old. This is a developing story. Advertisementcenter_img AdvertisementTags: covid-19 deathentertainment WATCH LIVE: Pres. Biden holds memorial for 500,000 US COVID-19 deaths February 22, 2021 AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments Advertisementlast_img read more

CC&L deepens executive leadership team

Share this article and your comments with peers on social media Toronto-based Connor, Clark & Lunn Financial Group has announced changes in personnel affecting the leadership of its high net worth and institutional businesses. Bruce Shewfelt, currently head of institutional sales at CC&L Financial Group, has joined Connor, Clark & Lunn Private Capital as CEO and becomes part of a three-person management team which includes Corey MacEachern (president) and Jeff Guise (chief investment officer). CI GAM names its first-ever head of investment management PenderFund names new SVP for investments Keywords AppointmentsCompanies Connor Clark & Lunn Financial Group Ltd., Clark & Lunn Financial Group Tim Griffin, who currently leads CC&L Private Capital, assumes the role of executive chairman. “Bruce has done an exceptional job leading CC&L Financial Group’s institutional sales efforts over the past ten years,” said Griffin, in a release. “With the addition of Bruce to our executive team, we are fortunate to have such strong leadership in place as we continue our efforts to grow our business by delivering a high level of service to our clients and their advisors.” CC&L also announced that Brent Wilkins has joined CC&L Financial Group as head of institutional sales. Wilkins has 19 years of industry experience and was most recently managing director and head of SEI Canada. CC&L is a multi-boutique asset management company that provides a broad range of investment products and services to institutional, high net worth and retail investors. The firm and its affiliate companies are collectively responsible for the management of over $44 billion in assets. TD getting new head of private wealth, financial planning IE Staff Related news Facebook LinkedIn Twitter read more

OSC approves settlement with former IR exec

first_img The Ontario Securities Commission (OSC) has settled insider trading allegations with a former investor relations executive, accused of trading on information from her husband, who was also a mining industry executive. The OSC said Thursday it has approved a settlement with Constance Anderson, who worked in investor relations at junior miner Starfield Resources Inc., resolving allegations that she engaged in two episodes of insider trading. Share this article and your comments with peers on social media SEC alleges man sold insider trading tips on dark web FINRA bans analyst for insider trading According to the settlement, Anderson was married to Starfield’s president and CEO, who was also a director at Osisko Mining Corp. The commission alleged that she traded with knowledge of a possible takeover bid for Brett Resources Inc. by Osisko back in 2010, and that she traded in the shares of another firm, Excellon Resources Inc., with knowledge that her husband was about to be appointed its new CEO. In total, the commission alleged that she made a combined profit of $18,770 with these trades. The deal notes that “Anderson does not have a precise recollection of the circumstances that led her to purchase the Brett shares … ,” but that she admits that “it can be concluded she must have known and did know the material fact that Osisko was proposing to acquire Brett and purchased Brett shares in her account and her daughter’s account with that knowledge.” Under the settlement, Anderson is permanently banned from trading, registration, and acting as a director or officer; subject to certain exceptions. She is also required to disgorge the $18,770 in profit she made through the trading in question, and to pay an administrative penalty of $18,770, along with $10,000 in costs. Anderson agreed to settle the allegations, resolving the case. The OSC approved the settlement on the condition that she pay the monetary sanctions before the hearing to approve the deal. Related newscenter_img ASIC ready to make deals with devils James Langton Keywords Insider tradingCompanies Ontario Securities Commission Facebook LinkedIn Twitterlast_img read more

Banking regulator makes changes to stress test for mortgages

first_img OSFI proposes new stress test for uninsured mortgages Facebook LinkedIn Twitter The minimum qualifying rate is currently the greater of the borrower’s contract rate or the Bank of Canada five-year benchmark mortgage rate — which in effect usually means the homebuyer has to qualify at the central bank’s rate.That’s because the central bank’s rate, which is based on the posted rates at the Big Six banks, has typically been about 2% higher than the average five-year fixed contract rate for insured mortgages.The rate change follows a recent review by federal financial agencies, and will allow the minimum qualifying rate to be “more representative of the mortgage rates offered by lenders and more responsive to market conditions,” the finance department said in a release.The Office of the Superintendent of Financial Institutions (OSFI) is considering using the same new stress test rate for uninsured mortgages (those with down payments of 20% or more).OSFI has been using a minimum qualifying rate of the greater of the lender rate plus 2%, or the five-year benchmark rate published by the Bank of Canada.OSFI, which is consulting with stakeholders, has proposed that it will also adopt the new benchmark rate on April 6 to coincide with the changes for insured mortgages. Keywords MortgagesCompanies Office of the Superintendent of Financial Institutions Give mortgage borrowers a break, FCA says female homebuyer shakes hand with real estate agent in office seoterra/123RF Mortgage stress tests working, OSFI maintains Share this article and your comments with peers on social media IE staff, with files from Canadian Press Related news The federal government is changing the stress test rate for insured mortgages starting April 6.The new minimum qualifying rate will be the greater of the borrower’s contract rate or the weekly median five-year fixed insured mortgage rate from mortgage insurance applications, plus 2%. (Insured mortgages are those in which the borrower has less than a 20% down payment. They’ve been subject to the stress test since 2016.) last_img read more

Challenges Exist in Treating Haemophiliacs

first_imgChallenges Exist in Treating Haemophiliacs UncategorizedApril 10, 2006 RelatedChallenges Exist in Treating Haemophiliacs FacebookTwitterWhatsAppEmail Chairman of the Jamaica Haemophilia Committee, Dr. Gillian Wharfe, has said that challenges exist in treating haemophiliacs in the country.Speaking with JIS News, Dr. Wharfe said that the on and off shortage of blood has affected the treatment of patients. “You have persons, who may recognise that they have a bleed and they call in for help and we have nothing to offer them on some occasions,” she said.“The ideal situation would be to purchase the commercially prepared clotting factor concentrate and we are unable to afford that at this point in time,” Dr. Wharfe added.Haemophilia is an inherited bleeding disorder that is due to the absence or reduced amount of a particular clotting factor.Usually the condition, which only affects males, is diagnosed in the first year of life and if not properly treated, persons may die before age 19 years. Those who survive, even when not treated adequately, live in considerable pain, suffer disabilities and are isolated.Dr. Wharfe explained that elsewhere in the world, especially in more developed countries, children with severe haemophilia are treated even before they have a bleed in order to prevent such an occurrence.“I know it is a small group of persons that have the condition in Jamaica and it is fairly expensive to treat, so in a country where there is limited resources, I am aware the money will be spent to treat a large group of people, with another conditions,” she said.In Jamaica it is reported that 300 persons are living with the condition. “We only see a small number of these persons and they only come to us at the time when they have a bleeding episode,” Dr. Wharfe pointed out.She was speaking within the context of World Haemophilia Day, which is observed worldwide on April 17, but will be observed tomorrow (April 11) in Jamaica. The theme for this year is: ‘Treatment for all’.“Our goal is to try to encourage all persons with bleeding disorders to have access to safe and effective treatment, because as yet, there is no cure for these bleeding disorders,” Dr. Wharfe noted.As part of the day’s observance, a special display will be mounted at the University Hospital of the West Indies. Dr. Wharfe said that the activity was organised to educate people about haemophilia and to encourage people to understand the condition, so that they in turn, can educate others at their institutions and schools.“People need to know the kind of problems that children with the condition have and eventually if they live to adulthood, what kinds of problems they would have as adults, in terms of bleeding complications,” she pointed out.It is estimated that there are 400,000 people affected worldwide by the bleeding disorder, with some 75 per cent of them undiagnosed and untreated. RelatedChallenges Exist in Treating Haemophiliacscenter_img RelatedChallenges Exist in Treating Haemophiliacs Advertisementslast_img read more

Beautification Programme to be Intensified

first_imgAdvertisements Beautification Programme to be Intensified UncategorizedJanuary 23, 2007 RelatedBeautification Programme to be Intensified RelatedBeautification Programme to be Intensifiedcenter_img RelatedBeautification Programme to be Intensified FacebookTwitterWhatsAppEmail Minister of Information and Development, Donald Buchanan has said that the islandwide beautification campaign would be intensified and special attention would be given to areas near Sabina Park in Kingston, where a number of Cricket World Cup (CWC) matches would be played in March of this year.“There is going to be an intensification of the projects in certain corridors, particularly the environs of Sabina Park, the area of the Victoria Craft Market into Jones Town and the area between Mountain View and Camp Road,” the Minister said. He was speaking at the weekly post-Cabinet press briefing held at Jamaica House yesterday (January 22).The Minister pointed out that the programme was not only taking place in Kingston, but also in rural areas, such as the Mineral Heights round-about in Clarendon; Black River, St. Elizabeth; and Ewarton, St. Catherine, among others.The beautification programme, which is being carried out by the Ministry of Local Government and the Environment, involves the bushing and removal of derelict structures, which is the responsibility of the National Solid Waste Management Authority, and road works, which falls under the National Works Agency.To date, some 356 of the 1,097 proposals received for projects under the $600 million beautification programme, have been selected and approved for implementation.last_img read more

Scrap Metal Exports Suspended

first_imgScrap Metal Exports Suspended UncategorizedJune 12, 2008 RelatedScrap Metal Exports Suspended RelatedScrap Metal Exports Suspended RelatedScrap Metal Exports Suspendedcenter_img FacebookTwitterWhatsAppEmail Minister of Industry, Investment and Commerce, Karl Samuda, has signed a Ministerial Order prohibiting the export of scrap metal until further notice.The Minister, in a statement to the House of Representatives yesterday (June 10), said that this action had become necessary as a result of “illegal activities that now pose a major threat to the economic development of the country and the disruption of essential services.”He said that containers that had been sealed and entered for export, will be allowed to be exported after they have been thoroughly checked by Customs, and certified to be clear of any stolen metals.“Shipments will not resume until all approved sites have been carefully checked and certified free of any stolen metals. Documentation, as prescribed in the (Scrap Metal) Regulations, will also be assessed in order to establish the legitimacy of ownership,” the Minister said.He also informed that the Ministry will be amending the Regulations, to provide for stricter penalties to be applied in cases of breaches in addition to introducing new measures that will protect the industry against unscrupulous persons.“We will also be establishing central sites for the packaging of containers where proper inspection can be guaranteed and where Customs Officers can feel safe to discharge their functions free from intimidation,” Mr. Samuda said.He said the Ministry will act with “alacrity on these issues and I will keep members of the House informed on developments in the scrap metal sector.”The Government, last year, introduced regulations for the sector, due to the alarming increase in the theft of metals, including those that support the country’s infrastructure.According to figures provided by the Jamaica Exporters’ Association, scrap metal exports moved from US$13.3 million in 2005 to US$99.58 million in 2006, registering an increase of more than 600 per cent in one year. Advertisementslast_img read more

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