David Gauke says Tory election victory would be ‘bad outcome’

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterMisterStoryWoman files for divorce after seeing this photoMisterStoryzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past Factorybonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comJournalistateTeacher Wears Dress Everyday, Mom Sets Up CamJournalistateYourDailyLamaHe Used To Be Handsome In 80s Now It’s Hard To Look At HimYourDailyLama whatsapp whatsapp Read more: In his pursuit of power, Farage is gambling with Brexit itself “There are many excellent Conservative candidates who I wish well but a Conservative majority at the next election would be a bad outcome for the country.” He wrote: “A Conservative majority at the next General Election will pursue a very hard Brexit.  Jessica Clark However, his former colleague Michael Gove told the BBC this morning that the Conservatives were pursuing a “good Brexit deal which works for the whole UK, which will enable us to have a relationship with the EU based on free trade and friendly cooperation.” Read more: Sir Martin Sorrell: Post-Brexit economoy should be Singapore on steroids “Given the refusal to extend the Implementation Period beyond 2020 and the obvious lack of time to negotiate a Free Trade Agreement before then, this means we will be on WTO terms by January 2021. He is running as an independent in South West Hertfordshire, where he has been an MP since 2005, following his expulsion from the Conservative Party after he voted against a no-deal Brexit.  More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comcenter_img Former justice secretary David Gauke has said a Conservative victory at the upcoming election would be bad for the country.  Share The Prime Minister last week said the terms of his Brexit deal did not include extending the transition period beyond 2020.  Main image credit: Getty Gauke – who is preparing to stand as an independent candidate in the vote on 12 December – said a majority led by Boris Johnson would result in a “very hard Brexit”.  Former justice secretary David Gauke says Tory election victory would be ‘bad outcome’ “Leaving the IP on WTO terms would be devastating to many sectors of our economy. It’s a thoroughly irresponsible policy. Wednesday 13 November 2019 8:29 am Gauke said Twitter that a Tory majority next month would be a “bad outcome for the country”. last_img read more

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Baghdad Racked By A Spate Of Suicide Bombings In Shiite Areas

first_imgGovernment | Military | Nation & World | National News | NPR News | Public SafetyBaghdad Racked By A Spate Of Suicide Bombings In Shiite AreasJanuary 8, 2017 by Colin Dwyer, NPR News Share:Several bombings tore through Iraq’s capital city just hours apart on Sunday. The attacks in and around Baghdad, which are believed to have primarily targeted Shiite Muslims, killed more than two dozen people and left dozens more wounded.Early Sunday in Sadr City, a predominantly Shiite suburb, Iraqi government officials say an attacker drove a car rigged with explosives into a large fruit and vegetable market.“A soldier at the gate of Jamila market opened fire on a suicide car bomb after noticing a suspect vehicle but the terrorist blew up his car,” Iraq’s interior ministry spokesman Saad Maan said, according to Agence France-Presse.Al-Jazeera reports that at least 12 people were killed and 50 more — including the soldier who opened fire on the car — were wounded in the bombing.The Islamic State claimed responsibility for the attack in a statement posted online.Shortly afterward, a suicide bomber detonated explosives at a market elsewhere in the city, in another predominantly Shiite neighborhood, according to The Associated Press. The AP says nine shoppers were killed and another 16 wounded in that bombing, adding: “Three additional bombings in and around the capital killed seven people and wounded 24 others.”No group has immediately claimed responsibility for those attacks, but they, too, are believed to be the work of ISIS, which has conducted a campaign of concentrated violence in Baghdad in recent weeks. In fact, Sadr City was targeted with another suicide bombing just days ago.The Islamic State, a group of Sunni jihadi militants, considers Shiite Muslims to be apostates and frequently targets members of the religious sect.ISIS has escalated its attacks on civilians even as it has lost territory in recent months.In Mosul, one of the militant group’s last major strongholds, government forces pushed jihadi fighters back to the Tigris River for the first time Sunday, Reuters reports, citing an Iraqi special forces spokesman:“It was the first time Iraqi forces in the city itself have reached the river, which bisects Mosul, since the offensive to drive out Islamic State was launched in October. Iraqi forces already control the Tigris to Mosul’s south.“The CTS [Iraq’s elite counterterrorism service] has spearheaded advances inside Mosul and is part of a 100,000-strong force backed by U.S. air power of Iraqi troops, Kurdish fighters and Shi’ite militias fighting the militants. After a period of stuttering advances in Mosul, Iraqi forces have gained momentum in a new push since around the start of the year.”Copyright 2017 NPR. To see more, visit http://www.npr.org/.Share this story:last_img read more

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After Comey firing, calls for independent probe come in lots of flavors

first_imgFederal Government | Nation & World | NPR NewsAfter Comey firing, calls for independent probe come in lots of flavorsMay 10, 2017 by Scott Horsley, NPR Share:President Trump’s firing of FBI Director James Comey has reignited calls for some form of independent investigation into Russian meddling in last year’s election and possible ties to the Trump campaign. Comey confirmed in March that the FBI was looking into the matter (as are congressional committees).But these calls come in various flavors.Senate Democratic Leader Chuck Schumer wants a “special prosecutor.” He warns via Twitter, “If we don’t get a special prosecutor, every American will rightfully suspect that the decision to fire #Comey was part of a cover-up.”Democratic Sen. Dianne Feinstein of California is calling for an “independent prosecutor.” Feinstein says in a statement that she also supports the appointment of a “special counsel” by Deputy Attorney General Rod Rosenstein.Republican Sen. John McCain of Arizona wants to see a “special congressional committee.” That’s not a new request from McCain, but he argues Comey’s firing “only confirms the need and urgency of such a committee.”Republican Congressman Justin Amash of Michigan says he’s leaning toward an “independent commission” to investigate Russian meddling.Meanwhile, Senate Republican Leader Mitch McConnell is pooh-poohing all of these suggestions. On the Senate floor Wednesday morning, McConnell warned a new investigation “could only serve to impede the current work being done” by the FBI and the Senate Intelligence Committee.A Little HistoryThe first “special prosecutor” was Archibald Cox, who was appointed by President Nixon’s attorney general in 1973 to investigate Watergate. Cox was later fired in October of that year, along with Attorney General Elliot Richardson and his deputy, William Ruckelshaus. This was the notorious “Saturday Night Massacre” to which Comey’s dismissal was immediately compared.In the post-Watergate period, Congress passed the Ethics in Government Act, which formalized the procedures for appointing special prosecutors and also re-branded them as “independent counsels.” Independent counsels were appointed by a three-judge panel at the request of the attorney general. Congress could also petition the attorney general to seek such an appointment, although the attorney general was not required to do so. The most famous independent counsel was Kenneth Starr, whose investigation ultimately led to the impeachment President Bill Clinton. The Ethics in Government Act expired in 1999 and was not renewed.Since 1999, the attorney general has occasionally appointed “special counsels” to investigate suspected criminal activity when an investigation by the Justice Department itself might pose a conflict of interest. Because these counsels are appointed by — and answer to — the attorney general, they have less formal independence than independent counsels.One famous special counsel was Patrick Fitzgerald, who investigated and prosecuted Vice President Dick Cheney’s Chief of Staff, Lewis “Scooter” Libby, for his role in the public identification of Valerie Plame, a covert CIA officer. (Libby was convicted on perjury and obstruction of justice charges. His prison sentence was later commuted by President George W. Bush.) The attorney general at the time, John Ashcroft, had recused himself from the matter so Fitzgerald was appointed by Ashcroft’s deputy … James Comey.Next StepsA “special prosecutor” or “independent counsel” could be appointed by Deputy Attorney General Rosenstein (since Attorney General Jeff Sessions has recused himself from all matters involving Russia), although such an investigator would probably go by the title “special counsel.” Schumer said last month that he received assurances from Rosenstein that the deputy attorney general would appoint a special counsel “if one is required.”Alternatively, Congress could reauthorize something like the Ethics in Government Act, creating a new role for independent counsels.Congress could also establish its own select committee of lawmakers to investigate, as McCain proposed.Finally, lawmakers could appoint a special commission of outsiders to investigate, along the lines of the 9/11 Commission. This approach is favored by Amash.Copyright 2017 NPR. To see more, visit http://www.npr.org/.Share this story:last_img read more

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Former Alaska House Speaker Gail Phillips dies

first_imgEconomy | Energy & Mining | Politics | Southcentral | State Government | WesternFormer Alaska House Speaker Gail Phillips diesMarch 25, 2021 by Andrew Kitchenman, KTOO and Alaska Public Media Share:Former Alaska House Speaker Gail Phillips appears in a 2017 interview with Tim Bradner on Capitol Views on KTOO 360TV. She died on Thursday at the age of 76. (Capitol Views screen capture)Former Alaska House Speaker Gail Phillips died today, at the age of 76. Phillips was born in Juneau, grew up in Nome and later lived in Fairbanks, Anchorage and Homer. She was a Republican who represented Homer in the House from 1991 to 2001.  She was the speaker from 1995 to 1999. She advocated for resource development. She described why in a 2017 interview for the Capitol Views TV show on KTOO 360TV.“I think if people live here and work here — and especially if they have a job in one of the resource industries — they realize that that is what is keeping Alaska going,” she said. “And that is what enables all of us to live here and to have the good life that we have here today.”She ran for lieutenant governor in 2002 and finished fourth in the primary. Former Gov. Sean Parnell was a House member during Phillips’ first two years as speaker. He said she was a steady leader who set a respectful tone in the chamber. “Just like today, there were some difficult financial times that she helped lead us through,” he said. “And I always appreciated the way she led with fairness for all members.”In an article she wrote as she was leaving the Legislature, Phillips said her priorities had been schools, roads and programs for seniors on the Kenai  Peninsula. Phillips was a partner in a mining company and worked for airlines for 10 years. She was married and had two daughters. She served on the Iditarod Trail Committee and was honored by the Iditarod last year as the annual honorary musher.Share this story:last_img read more

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Court fee hike will undermine London’s position, says RPC

first_imgSunday 1 March 2015 10:47 pm Show Comments ▼ Express KCS THE GOVERNMENT’S proposal to increase court fees will undermine London’s position as a global centre of dispute resolution, according to a new report by City law firm RPC.The report, released today, claims research undertaken by the Ministry of Justice revealed 61 per cent of the commercial lawyers surveyed believe the government’s plans to increase the fee to issue proceeding will encourage parties to litigate in other jurisdictions instead of the UK, making New York and Singapore serious rivals. Under government plans, the fee to issue proceedings for the recovery of money will be raised to five per cent of the value of proceeding over the value of £10,000, meaning parties could end up paying up to six times more than the current rate. Any increase may also have a negative impact on the number of parties deciding to bring lower value claims to court. The Law Society has begun a judicial review process to challenge the government’s decision. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof whatsapp Tags: NULL Court fee hike will undermine London’s position, says RPC Share whatsapplast_img read more

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Striking down DACA would eliminate thousands of health care workers, thwarting America’s pandemic response

first_img @ChanZuckerberg By Priscilla Chan and Sam Hawgood May 1, 2020 Reprints People rally outside the Supreme Court in November 2019 as oral arguments are heard in the case of President Trump’s decision to end the Deferred Action for Childhood Arrivals program. Jacquelyn Martin/AP Related: The Covid-19 pandemic will make medical students better doctors If the court strikes down DACA, then every DACA recipient — including 29,000 physicians, nurses, health aides, and technicians — could be forced from the United States within two years. Some could have only weeks.advertisement linkedin.com/in/priscilla-chan-907181a3/ First OpinionStriking down DACA would eliminate thousands of health care workers, thwarting America’s pandemic response Priscilla Chan Privacy Policy The health care community has a responsibility to anticipate worst-case scenarios and develop response plans for epidemics that may be years or decades away. It should model how outbreaks might cause shortages in medical supplies and devise protocols to compensate for them. It should plan for what would happen if those protocols fail and shortfalls in staff or equipment make it difficult to provide care to each and every patient.Crises like Covid-19 are stark reminders of the importance of making such preparations. They also reveal the gaps in our planning, along with scenarios that were so strange or unimaginable that we failed to see them coming.Who could have foreseen that a once-in-a-century pandemic would strike at a pivotal moment for U.S. immigration policy, one that could strip tens of thousands of health care workers of their ability to practice medicine and take them away from their patients at the very moment they are needed most?advertisementcenter_img @UCSF Sam Hawgood About the Authors Reprints That would thwart America’s pandemic response. The CDC estimated in mid-April that Covid-19 infections had removed 9,300 health care practitioners from the workforce. If DACA is ruled invalid, that number will quadruple. Hospitals would lose essential staff. The medical practitioners who remain would work longer and more dangerous hours. Patients would be likely to suffer worse outcomes. In short, Covid-19 would become more protracted, and potentially even more deadly.This is just the beginning.As physicians and leaders of health institutions, each of us has had the opportunity to work alongside DACA recipients. These young leaders have stood out as some of the most dedicated and promising medical professionals we’ve ever met. And losing them — during a pandemic or not — is a burden that neither the health care community nor our country can afford to bear.If you were to meet Dr. Jirayut Latthivongskorn, who goes by New, you would agree. One of us (S.H.) got to know New when he was a student at the UCSF School of Medicine, and the other (P.C.) worked with him during her time at San Francisco General Hospital. Neither of us knew his immigration status back then, but we were both struck by New’s warmth, his sharp judgment, and his deep commitment to the practice of medicine. It came as no surprise to us when he became the first medical student with DACA to graduate from UCSF.Today, New is caring for some of the Bay Area’s most vulnerable people, including patients with Covid-19, as a resident at San Francisco General Hospital. He worries about what will happen with the Supreme Court ruling, but that isn’t stopping him from providing the best possible care for his patients. “This pandemic is just another example of DACA recipients doing what we’ve always done,” he says. “We show up and show that we are a part of the fabric of America.”Joana Cabrera is another young leader who is showing up. After graduating from the University of California, Berkeley, Joana came to work at the Chan Zuckerberg Biohub, which brings together researchers and engineers from Stanford, UC Berkeley, and UCSF. At the Biohub she designed and developed a custom device that is enabling UCSF to increase its coronavirus testing capacity. Thanks in part to the work Joana and her colleagues have done, the UCSF/Biohub expansion lab is now offering free coronavirus testing to all 58 county public health departments in California.Joana and New are exemplary young leaders, but the reality is that America’s hospitals, clinics, and research institutions are full of talented professionals just like them. What happens if these young people are deported? What medical breakthroughs could we one day miss? And how many patients will struggle to get care, especially during the worst pandemic we’ve faced in a century?That last question has an answer. Experts estimate that physicians and medical students with DACA will care for as many as 5 million patients over the course of their careers. Please enter a valid email address. Leave this field empty if you’re human: For these reasons and more, the two of us have spent the last several years advocating for young people with DACA. Three days after the federal program was abruptly halted in 2017, the University of California became the first university to file a legal challenge over its rescission. The Chan Zuckerberg Initiative signed onto an amicus brief in the lawsuit, and has since worked to highlight the contributions DACA recipients make to society — and to stopping the Covid-19 pandemic.In recent days, we were glad to see that the Supreme Court will officially consider these contributions in its deliberations. We are hopeful that the justices will choose to preserve the status of DACA recipients in its ruling.We also know that a truly lasting solution will come not through the courts but through Congress, which alone has the power to pass legislation that puts DACA recipients on the path to citizenship.That is where you come in. Legislators, policymakers, and journalists are paying close attention to what the medical and scientific communities are saying right now. Your words carry immense weight during this pandemic, and you can use them to advocate for the young health care professionals who are every bit as vital to our response as masks and ventilators.And we urge you to go one step further. The U.S. will need many more health care practitioners in the months and years ahead, not only to help with pandemic response and recovery but also to serve in roles and regions of the U.S. that have long been understaffed. Right now, we aren’t on track to meet that demand. That’s why we need broader reforms that will help immigrants without DACA enter the workforce as health care professionals, as well as reforms that will attract more practitioners to the U.S. in the first place. You can urge our lawmakers to make that happen.There’s no time to waste. New, Joana, and thousands of our colleagues in medicine are counting on our support right now. And millions of Americans will one day count on theirs.So help us make sure Congress and the American public know just how essential DACA recipients are. Their lives, and many more, may hang in the balance.Priscilla Chan is a pediatrician and co-founder and co-CEO of the Chan Zuckerberg Initiative. Sam Hawgood is a pediatrician and chancellor of the University of California San Francisco. Newsletters Sign up for First Opinion A weekly digest of our opinion column, with insight from industry experts. Unimaginable though it may be, that outcome may soon come to pass. In the coming weeks, the Supreme Court will render a decision on Department of Homeland Security v. Regents of the University of California, a case that will determine whether nearly 700,000 individuals protected by Deferred Action for Childhood Arrivals (DACA) will remain in the workforce, protected from deportation. Tags Coronavirushealth care workershospitalslast_img read more

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‘Devastated, heartbroken and fearing homelessness’ – Laois property owners won’t have their house for Christmas

first_img WhatsApp ‘Devastated, heartbroken and fearing homelessness’ – Laois property owners won’t have their house for Christmas Derryounce, Portarlington A group of property owners in Laois have been left ‘devastated, heartbroken and fearing homelessness’ as they will not be able to move into their new homes in time for Christmas.Six property owners who purchased homes in Derryounce in Portarlington in 2018, have been unable to move into them ever since.They bought the houses in January 2018 and the project was supposed to be completed in the Autumn of that year – but it hasn’t.Initially, there were problems with the ESB connecting power to the site but they eventually did that in Autumn of 2019.But the problem now is that a water connection to the houses has not been made and that means that the owners cannot move in.Last week, there were fresh hopes that a temporary connection would be made before Christmas but it now appears that this won’t happen.LaoisToday understands that there is an issue with water pressure in the area and that if these houses are connected, it will have adverse effects on the water pressure on other residents in the area.LaoisToday also understands that a major upgrade is required in the area. Facebook Twitter Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Facebook Pinterest RELATED ARTICLESMORE FROM AUTHOR TAGSDerryounceIrish WaterPortarlington WhatsApp Home News ‘Devastated, heartbroken and fearing homelessness’ – Laois property owners won’t have their… Newscenter_img A spokesperson for the group told how they have been left utterly devastated that they face another Christmas outside of their homes.They said: “We are a group of six property buyers who have worked tirelessly to have the means to buy our own homes and yet this is our problem.“A property development by the name of Derryounce in Portarlington had begun construction in January 2018, the properties themselves were advertised for purchase early 2018 with a scheduled completion of Autumn 2018.“Yet here we are, in December 2019 and we, along with our familes are Homeless and on the verge of bankruptcy as our properties are still part of a construction site with no water and no completion date in site.“As one may appreciate with any new builds, delays can happen but the delays that have occurred to date are so severe they have brought nothing but suffering to those who merely want to begin their lives in their own home. The amount of us that are suffering with extreme anxiety and stress issues, which have led to hair loss is an absolute disgrace.“To add more clarity to the severity of this matter, every month since August 2018 we have been informed of never ending delays. The source of these delays had always been the same – ESB and Irish Water.“We do not want to let ESB away with all the pain they have caused us but thankfully, they have since provided power to the site as of Autumn 2019.“Believing there was a light at the end of this dark and bleak tunnel, we had been issued positive email communications which confirmed out properties were nearly ready to go and due for completion on the 15th of November 2019 with snagging outstanding.“As you can imagine, the excitement that ran through our bodies was exceptional. The thoughts of being in our homes in time for Christmas. But alas, that was a short lived dream.“Instead, having gone to the site to complete our snagging report, we found out that the site actually had no water.“Irish Water failed an a multitude of occasions to visit the site, they have created new ‘issues’ nearly every month since construction began that had to be fixed and reviewed before considering signing off and now, when we had completion in our sites they have decided, a week before the 15th of November that there is now a capacity issue meaning they cannot provide water.“The staff of Irish Water and Laois Country Council will all get to spend Christmas with their loved ones, in their homes while we sleep on a floor in a sleeping bag because we are homeless.“Many of us were lucky to have a family member or a friend to open their door to prevent us from sleeping on the streets but this was a temporary solution, as generosity can only go so long when the property being shared is not adequate for so many people – this then adds to the strain of this dire situation.“Furthermore, due to all of the delays caused with this property development, many of us have had to go through 3 to 4 mortgage renewal processes, which is extremely tedious and costly and some of us have spent our life savings just to get by which is pushing people to bankruptcy.“Based on the most recent communication, the potential property completion deadline is being pushed out to after January with no certainty that this is even going to be true.“We merely want to begin our lives, live in the place we want to call ‘Home’ and just move on from this chaotic mess.“With Christmas on the horizon, a time of giving, surely someone can give us a Christmas miracle.”In response, Irish Water released the following statement:“Irish Water received a connection application for this 37 house development earlier in 2019 and has been liaising extensively with the developer and his consulting engineer to progress various aspects of this development and the connections to the water and wastewater network.“There are known water supply issues in the Portarlington area, with low pressures affecting existing customers.“In order to facilitate further connections to the network while not compromising levels of service to existing customers, Irish Water is carrying out extensive investigations, including pressure logging of the network, to identify the optimum network configuration.“The outcome of these investigations will confirm the required infrastructure upgrades to service the full development.“Irish Water is currently issuing a connection offer for the first phase of six houses as the initial investigations indicate that connections to six properties can be facilitated.“As with all new development of this nature the actual connection will only be made when the developer has completed the required works on site in accordance with our national standards.”LaoisToday has made repeated attempts to contact the property developer in this case but he has not responded.SEE ALSO – Tributes paid as well-known Laois GAA administrator set to leave roleSee Also: Have you got your Christmas stocking fillers – check out the Laois Today store Twitter 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshin GAA By Alan Hartnett – 13th December 2019 Previous articleLaois families encouraged to apply for new childcare scheme – and will receive subsidies quickly says Minister FlanaganNext articleRange of products for sale in Frankie’s Hairdressing in Mountmellick this Christmas Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. News Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role Electric Picnic Pinterestlast_img read more

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Q4 surge redeems 2012 Canadian IPO market: survey

Diversity in offerings, exchanges highlights Canada’s Q3 IPO market After a very slow start to the year, the strong fourth quarter leaves 2012 with a total of 62 IPOs on all exchanges, delivering $1.8 billion in new equity for the year. There were 61 IPOs on Canadian exchanges in all of 2011 for a total of $2 billion. The fourth quarter of 2012 was notable for the diversity of new issues as well as for the size of the total proceeds, says Dean Braunsteiner, PwC national IPO services leader. “We’re used to the mining sector playing an important role in the Canadian IPO market, but the miners shared the spotlight in the last quarter with the consumer products, retail, energy and real estate sectors,” explains Braunsteiner. “The results of the last quarter not only speak to the pent-up demand for equity capital, they are a testament to the underlying strength of the larger Canadian economy.” “We went from a disappointing start to a reasonable outcome in 12 months,” says Braunsteiner. Braunsteiner points to the fourth quarter of 2012 – the strongest quarter since the second quarter of 2011 – and the backlog of IPOs still in the pipeline as the foundation for a good start to 2013. “We’ve seen a lot of IPOs in the development stage, across numerous sectors,” he reports. Despite the optimism at the close of 2012 it’s not all clear sailing, Braunsteiner cautions. “The usual caveats still apply. Issues left unresolved by the ‘fiscal cliff’ negotiations in the U.S. will continue to hang over that market, and we are far from a resolution of the debt crisis in Europe. Caution is still the watchword,” he adds. Only 12 new issues made it to the TSX in 2012 for a total of $1.7 billion, the PwC survey showed. In 2011, 15 IPOs debuted on the TSX with a value of just less than $1.8 billion. The TSX Venture hosted 44 IPOs in 2012 with proceeds totaling $107 million, compared to 45 new issues worth $214 million in 2011. The $365 million IPO of retailer Hudson’s Bay Company in the fourth quarter was the largest of the year. The $301 million raised by mining company Ivanplats Limited was the second largest and the biggest new offering of the year from the minerals sector, also in the fourth quarter. Argent Energy Trust raised $212 million in the third quarter, the largest IPO from the energy sector. PwC has conducted its survey of the IPO market in Canada for more than 10 years. The reports are issued on a quarterly basis. IE Staff Related news Keywords Share offerings TSX streamlines corporate takeovers A $1.3 billion surge of new equity issues in the fourth quarter helped turn around the 2012 Canadian IPO market and raises hopes for growth in 2013, the annual survey of Canadian equity markets by PwC has revealed. Nine new issues on the TSX in the last three months of 2012 helped power the final quarter of the year to a total of $1.3 billion in new equity, according to the PwC survey. There were 23 IPOs on all Canadian exchanges during the period, compared to 10 new issues worth just $52 million in the last quarter of 2011. Share this article and your comments with peers on social media Canada’s IPO market topped $2B in 2018 Facebook LinkedIn Twitter read more

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Risks rotating to emerging markets: IMF report

first_img Related news Keywords Emerging marketsCompanies International Monetary Fund Where are we in the economic cycle? Investment-grade debt offers attractive risk-adjusted returns: survey Growth gap may widen between emerging and developed regions Share this article and your comments with peers on social media James Langton Stability has improved due to a strengthening in the macro-financial environment in advanced economies, the report says “as the recovery has broadened, confidence in monetary policies has firmed, and deflation risks have abated somewhat in the euro area.” At the same time, risks are rotating toward emerging markets, amid greater market liquidity risks, the report says, as “several key economies face substantial domestic imbalances and lower growth.” It points to higher leverage in the private sector in many economies, and rising foreign currency exposures, as particular vulnerabilities. In addition, banks in the emerging markets have thinner capital cushions, and non-performing loans are set to rise “as corporate earnings and asset quality deteriorate,” the IMF report says. Several emerging market sovereigns “are at greater risk of losing investment-grade ratings in the medium term,” the report says, citing lower commodity prices and overall weak economic growth. Policymakers are facing three main challenges in terms of financial stability, the IMF report says: emerging market vulnerabilities; high debt levels in advanced economies, and remaining gaps in the euro area financial system architecture; and weak systemic market liquidity. “The relatively weak baseline for both financial stability and the economic outlook leaves risks tilted to the downside,” the IMF report says. “Thus, ensuring successful normalization of financial and monetary conditions and a smooth handover to higher growth requires further policy efforts to tackle pressing challenges.” The report says that these policies should include: clear, consistent communication from the U.S. Federal Reserve on the U.S. interest rate picture; more progress in strengthening the financial architecture of Europe; rebalancing and gradual deleveraging in China; addressing both cyclical and structural challenges in emerging markets to discourage the buildup of excessive leverage and foreign indebtedness; safeguarding against market illiquidity and strengthening market structures; and ensuring the soundness and health of banks and other long-term savings players, such as insurers and pension funds. “With bold and upgraded financial policy actions detailed in the report, policymakers can help deliver a stronger path for growth and financial stability, while avoiding downside risks,” the report says. “Such an upside scenario would benefit the world economy and raise global output 0.4 percent above the baseline by 2018.” Absent policy efforts, global asset market disruptions could occur, the report warns. “Without the implementation of policies to ensure successful normalization, potential adverse shocks or policy missteps could trigger an abrupt rise in market risk premiums and a rapid erosion of policy confidence,” the report says. “Shocks may originate in advanced or emerging markets and, combined with unaddressed system vulnerabilities, could lead to a global asset market disruption and a sudden drying up of market liquidity in many asset classes.” This sort of situation would, in turn, have negative repercussions on financial stability, and could harm the economic recovery and weaken confidence in medium-term growth, raising credit risks, and leading to higher corporate default rates, possibly an adverse feedback loop between corporate and sovereign risks. In such a scenario, “aggregate global output could be as much as 2.4% lower by 2017, relative to the baseline,” the report warns. With financial stability improving in the world’s advanced economies, the risks are shifting to the emerging markets, according to a report released Wednesday by the Washington, D.C.-based International Monetary Fund (IMF). The October 2015 edition of the IMF’s Global Financial Stability Report (GFSR) calls on policymakers to address vulnerabilities in both advanced and emerging markets, or risk the emergence of a negative feedback loop that could undermine global growth. Facebook LinkedIn Twitterlast_img read more

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CDB has Provided US $2.6 Billion in Financing for Projects Within the Caribbean

first_imgCDB has Provided US $2.6 Billion in Financing for Projects Within the Caribbean UncategorizedMay 18, 2006 RelatedCDB has Provided US $2.6 Billion in Financing for Projects Within the Caribbean RelatedCDB has Provided US $2.6 Billion in Financing for Projects Within the Caribbean Advertisementscenter_img FacebookTwitterWhatsAppEmail The Caribbean Development Bank is a true product of CARICOM. Having being established at a time when individual Caribbean islands were trying to establish their financial independence, it continues today, to fund programmes geared toward promoting and ensuring the economic growth and development of the entire region.In a recent interview with JIS News, Neville Grainger, the CDB’s Vice-President of Finance, noted that since its inception, the Bank has financed projects within the Caribbean, totalling approximately US$2.6 billion.“Of those resources, about 25 per cent would have gone to what we call financial intermediaries, such as development banks in the region, which are used as a conduit for our resources to small and medium enterprises. In addition to that, we would have disbursed about 25 per cent to the productive sectors like the agricultural sector, for manufacturing and tourism, whilst the remaining half, about 50 per cent, would have gone to the economic infrastructure and in this regard, we speak about roads and other forms of transportation, telecommunications.” said Mr. Grainger.The CDB, which was established in Kingston, Jamaica on October 18, 1969, as part of a regional strategy for economic development, was charged specifically “to contribute to the harmonious economic growth and development of the member countries in the Caribbean and promote economic cooperation and integration among them, having special and urgent regard to the needs of the less developed members of the region.”Mr. Grainger, a Guyanese national, who joined the CDB in 1975, recalled that the establishment of the financial institution was a significant development in the 1960s, particularly after the collapse of the Federation, when many of the Commonwealth Caribbean countries were either moving towards, or had recently attained, political independence.According to the Vice President, these countries faced significant challenges as their domestic savings were insufficient to finance the level of investment required for growth and so many of them relied heavily on grants-in-aid and other official development assistance flows. In the circumstances, it was a widely held view that “there was a need to establish an institution to assist in accelerating the economic development of the region.”“Consistent with that purpose, the Bank, over the years, has been focusing on the less-developed countries (LDCs), which are members of the Bank, primarily the OECS (Organisation of Eastern Caribbean States) countries, Belize and the dependent territories of the United Kingdom,” Mr. Grainger informed JIS News.“In discharging this mandate, we have sought to ensure that the needs of the LDCs are not ignored and so, as at the end of last year, for example, the LDCs had received 71 per cent of all concessionary funds disbursed by the Bank and 52 per cent of all financing made by the Bank to date. Bearing in mind that the LDCs represent less than 16 per cent of the population of the Bank,” he continued.In the early days, the CDB was seen as having to play a transformational role in terms of turning around economies, said Mr. Grainger.“In those days, most of the economies had very poor infrastructure, the per capita incomes were very low, and they were weak institutions in terms of implementing public policy and so, what we focused on in those early years, was to secure as much concessionary financing from the donor community.Canada and United Kingdom in fact, were extremely generous in those days, and so we were able to get our resources started,” he further explained.Additionally, the CDB has, over the years, performed a “catalytic role” in stimulating foreign investment in the region, in that its presence in almost any venture in the Caribbean attracts other major financiers. In fact, to date, the Bank has had notable success in attracting financing for the region, noted Mr. Grainger. Citing an example, he pointed out that when the CDB started the Caribbean Investment Fund some years ago, it was able to bring on board other players, by virtue of the Bank’s presence in that Fund.Starting with an initial subscribed share capital of US$50 million, the CDB has flourished over the past 37 years, through the contributions of its member countries, otherwise called borrowing member countries.Today, the institution’s subscribed capital stands at US$705 million, with a membership base of 17 CARICOM member states, three Latin American member countries – Colombia, Mexico and Venezuela, and five international members – Canada, Italy, the United Kingdom, Germany and China.In addition to the subscribed capital, the Bank borrows on the international capital markets and to a lesser extent, from a number of financial institutions such as the Inter-American Development Bank (IADB) and the European Investment Bank (EIB).The CDB has mobilised a total resource flow of approximately US$1.75 billion, of which 52 per cent is for use in its ordinary operations and the remaining 48 per cent in special or concessionary operations. Some US$668 million or 72 per cent of the Bank’s resources came from its non-regional members, while US$94 million or 10 per cent of resources mobilised were from the regional non-borrowing members, Colombia, Mexico, and Venezuela, and US$162 million or 17 per cent from the Commonwealth Caribbean Members.On the concessionary side, most of the CDB’s resources are received from donor countries. The Bank’s main concessionary fund is the Special Development Fund, and traditionally, approximately 75 per cent of the resources of that Fund is provided by donors, with the remaining 25 per cent being put in by member countries, the Finance Vice President outlined.Continuing, Mr. Grainger noted that the last replenishment of the Fund, which was concluded in December 2005, “was perhaps the best on record in terms of size,” and should take the Bank comfortably forward for another four years and enable the institution to finance various deserving programmes particularly to benefit poor communities.One such programme is the Basic Needs Trust Fund (BNTF) programme, the Bank’s flagship poverty reduction programme, which finances the construction of much-needed community facilities such as roads and footpaths, schools and health centres. The Jamaica Social Investment Fund (JSIF) is the executing agency for the BNTF financing in Jamaica.“We’ve had a long relationship with JSIF, going back to 1999, when we would have given them some US$14.4 million and we anticipate that we’ll be having another programme for poor communities involving health centres, basic schools, basic water supply systems, and so on,” Mr. Grainger informed JIS News.Today, as advancements are being made towards the establishment of a CARICOM Single Market and Economy (CSME), Mr. Grainger affirms the institution’s continued commitment to facilitating the development of the region. The CSME, when fully implemented, would be considered a fourth grouping of market importance for the CARICOM business sector with a combined gross domestic product (GDP) of approximately US$300 million.The CDB, in supporting this initiative, provided funding for the establishment of the Caribbean Court of Justice. “We raised $100 million a couple years ago on the capital market to enable the CCJ to be self-financing…also, in the area of what we call regional public goods, that is projects with a regional dimension such as education, health, transportation and disaster mitigation, the Bank again will play a role in financing those projects,” Mr. Grainger pointed out.He added that several other types of projects would flow out of the establishment of the CSME and, when that happens, the CDB will be there to provide financing assistance as well.Additionally the CDB is in the process of establishing a Regional Development Fund (RDF) “to assist those countries, which might be disadvantaged by the establishment of the CSME. The Bank has been playing a lead role in the design and it is contemplated that the Bank will manage the resources of the RDF,” Mr. Grainger told JIS News. RelatedCDB has Provided US $2.6 Billion in Financing for Projects Within the Caribbeanlast_img read more

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