PIMCO’S GROSS ISSUES WARNING OVER A BRAZEN PONZI SCHEME: QE

first_img whatsapp Wednesday 27 October 2010 7:53 pm PIMCO’S resident bond expert Bill Gross yesterday, in his usual verbose fashion, issued a stark warning over the upcoming second round of quantitative easing (QE) in the US – dubbing it no less than a “Ponzi scheme” on the part of the Federal Reserve.“Check [sic] writing in the trillions is not a bondholder’s friend; it is in fact inflationary, and, if truth be told, somewhat of a Ponzi scheme,” Gross told his loyal readers. “Now, however, with growth in doubt, it seems that the Fed has taken Charles Ponzi one step further. Instead of simply paying for maturing debt with receipts from financial sector creditors – banks, insurance companies, surplus reserve nations and investment managers, to name the most significant – the Fed has joined the party itself. Rather than orchestrating the game from on high, it has jumped into the pond with the other swimmers…“The Fed, in effect, is telling the markets not to worry about our fiscal deficits, it will be the buyer of first and perhaps last resort. There is no need – as with Charles Ponzi – to find an increasing amount of future gullibles, they will just write the check themselves. I ask you: Has there ever been a Ponzi scheme so brazen? There has not.”Don’t say he didn’t warn you.SILVER SCREENHow über-successful City types have the time to do anything outside of their hectic work schedules is often a mystery, but manage it they certainly do – and a case in point is Eddie Charlton, the former HSBC Private Bank director who joined Citi as a senior adviser just last month. Charlton, I hear, has been busy on a wholly different front of late, trying his hand at film production on “Archipelago”, directed by Joanna Hogg. The film, described by critics as an “astute and authoritative observation on the malaises of the middle-class”, must be pretty good, as it was selected among just 200-odd features to be shown at the London Film Festival, which wraps up today.TIGHT SHIPAusterity measures have got so bad at Transport for London, according to The Capitalist’s network of sources, that boss Mike Brown now has to personally sign off any requests for first class stamps…GOLDEN TOUCHBig news for one of the tiniest tiddlers on the Alternative Investment Market yesterday, as Irish entrepreneur John McKeon came on board at Premier Management.McKeon is best known as a founding shareholder of Circle Oil, and his involvement has had a stonking effect on other tiny companies before – just six months ago, investment shell Niche Group saw its shares soar 145 per cent in a day when he joined as a consultant.Fellow minnow Premier Management bettered that yesterday as its shares shot up a phenomenal 445.5 per cent to 3p, on hopes that McKeon’s fat book of Asian and Middle Eastern government contacts can help it source deals in gold exploration in the region.russian moneyThose out there with Russian connections and a lot of money to burn might be interested at news of a gala concert next March at the Royal Albert Hall, to mark the 80th birthday of the man who brought the Cold War to an end, Mikhail Gorbachev.Some tickets are available at £35 for the concert, which will feature both classical artists and modern pop bands, but there are also 33 exclusive boxes available to reserve for the event – costing an eye-popping £100,000 a pop.FRIENDLY FACEIn the aftermath of a desperately poorly-received IPO, Tim Steiner, co-founder and chief executive of online grocer Ocado, must have been thanking his lucky stars yesterday at having someone speak out in praise of his firm at last.Happy for him, too, that said someone was none other than the Prime Minister, David Cameron, who confirmed to the House at PMQs that he’s an Ocado customer. That’s the kind of PR money can’t buy.ROYAL TREATMENTHis Highness the Emir of Qatar, Sheikh Hamed Bin Khalifa Al-Thani, was in the City last night for the Lord Mayor’s Qatari state banquet, held at the Guildhall.At a dinner attended by diplomats and business leaders such as Royal Dutch Shell’s UK chair James Smith and Centrica chief Sam Laidlaw, Lord Mayor Nick Anstee praised Qatar’s recent activity in London – the Shard skyscraper and investments in Harrods and Barclays, to name but a few.To thank the Emir, who attended with just one of his 27 children (gulp), Anstee also presented him with an Arsenal FC shirt signed by the first team squad, to mark Emirates’ sponsorship of the club. Fittingly, the shirt came emblazoned with the words “HHT Emir” on the back, plus a number 15 – in honour of his 15 years of rule so far. PIMCO’S GROSS ISSUES WARNING OVER A BRAZEN PONZI SCHEME: QE Show Comments ▼ whatsappcenter_img KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo Share Tags: NULL More From Our Partners Native 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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orglast_img read more

Trish House Yalding / Matthew Heywood

first_img “COPY” Trish House Yalding / Matthew Heywood Houses Manufacturers: Fineline AluminiumSave this picture!Courtesy of Matthew HeywoodText description provided by the architects. The design of the house developed in direct response to the site and its location within the beautiful village of Yalding in Kent. The building’s structure is composed to reflect the surrounding woodland with the raking columns representing the irregular angles of tree trunks and branches. Large expanses of glass fill the gaps between the structure and allow you to appreciate the landscape and setting as if you were peering out from between the trunks and branches of the trees. The traditional Kentish black and white weatherboarding represents the foliage wrapping the building and enclosing the spaces within. In contrast to the surrounding nature, the form and lines of the house are intentionally very geometric and crisp, creating a dialogue between the organic woodland and the modernist box. Save this picture!Courtesy of Matthew HeywoodI am exceptionally please with what we have achieved in Yalding. As with every project, there is a large team of people that have all contributed. In particular the team from Ecolibrium Solutions (the main contractor) should be rightly proud of the quality of their work.Save this picture!First Floor PlanProject gallerySee allShow lessIs NYC “Landmarking Away” Its Future?ArticlesSant Joan de Reus University Hospital / Pich-Aguilera Architects + Corea & Moran Arq…Selected Projects Share United Kingdom ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/407215/trish-house-yalding-matthew-heywood Clipboard Save this picture!Courtesy of Matthew Heywood+ 28 Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/407215/trish-house-yalding-matthew-heywood Clipboard “COPY” CopyHouses•Maidstone, United Kingdomcenter_img Manufacturers Brands with products used in this architecture project CopyAbout this officeMatthew HeywoodOfficeFollowProductsWoodGlassConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesMaidstoneWoodHousesUnited KingdomPublished on July 29, 2013Cite: “Trish House Yalding / Matthew Heywood” 29 Jul 2013. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogMetal PanelsAurubisCopper Surface: Nordic DécorGlassMitrexSolar PanelsPanels / Prefabricated AssembliesTechnowoodPanel Façade SystemSealantsAGROB BUCHTALHow To Benefit From Ceramic Tiles With Hytect SurfaceSignage / Display SystemsGoppionDisplay Case – Q-ClassFacade SystemsTrimoTrimoterm FTV in the BASE – Backing wallSkylightsVELUX CommercialModular Skylight Ridgelight in Office BuildingDoorsVEKAFront Doors – SOFTLINECurtain WallsRabel Aluminium SystemsMinimal Curtain Wall – Rabel 35000 Slim Super ThermalResidential ApplicationsULMA Architectural SolutionsVentilated Facades on Building in PamplonaDoorsLibartVertical Retracting Doors – Panora ViewAccessories / TV MountsYellow Goat DesignScreens – BlossomMore products »Read commentsSave世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream 2013 ArchDaily Year:  Projects Trish House Yalding / Matthew HeywoodSave this projectSaveTrish House Yalding / Matthew Heywood Architects: Matthew Heywood Year Completion year of this architecture project last_img read more

Cottage in Las Herencias / OOIIO Arquitectura

first_imgShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/899560/cottage-in-las-herencias-ooiio-arquitectura Clipboard Architects: OOIIO Arquitectura Area Area of this architecture project Cottage in Las Herencias / OOIIO ArquitecturaSave this projectSaveCottage in Las Herencias / OOIIO Arquitectura Projects “COPY” 2018 “COPY” Houses Spain CopyHouses•Las Herencias, Spain Save this picture!© niveditaa gupta+ 27Curated by Danae Santibañez Sharecenter_img Cottage in Las Herencias / OOIIO Arquitectura Year:  Manufacturers: Cerrajería El Río s.l., Cerrajería Hermanos Pajarero s.l., García Arisco s.l., Pulimentos MC s.l., Rústicos Toledo s.l.Construction:Self-promotion (The client himself built it)Structure:CPE consultora de proyectos y estructuras s.l.Installations:OOIIO ArquitecturaBuilding Engineer:José Vicente Alia PintoSafety And Health:José Vicente Alia PintoAuthor:Joaquín Millán VillamuelasDesign Team:Natalia Garmendia Cobo, Gaia FerraraCity:Las HerenciasCountry:SpainMore SpecsLess SpecsSave this picture!© niveditaa guptaRecommended ProductsEnclosures / Double Skin FacadesAlucoilStructural Honeycomb Panels – LarcoreMetallicsKriskadecorMetal Fabric – Outdoor CladdingWood Boards / HPL PanelsEGGERPostformed WorktopsLouvers / ShuttersLunawoodThermowood Battens“Rural camouflage”We moved to a completely rural environment. Suddenly everything is calmer, the hours seem to pass slower, and you can breathe quality of life in every corner. People are kind and not only say hello when you come across them, but it seems almost obligatory to stand up and talk to each other a little.Save this picture!© niveditaa guptaOur client commissioned us with a comfortable cottage in which to enjoy his retirement, returning to the village where he grew up. Thousands of childhood memories came to his mind during every visit we made with him to follow the evolution of the work. The large plot of land allowed us to develop a comfortable house on a single floor, which we decided to fragment into elongated modules that connect the street with the backyard. Some modules are in the shape of a gabled roof house, others are flat roof prisms.Save this picture!© niveditaa guptaSave this picture!Section 1Save this picture!© niveditaa guptaIt is in the interspersed combination of these pieces that the project arises. The country house, which seems to be actually several houses if you look at it from the outside, becomes in its interior a succession of wide spaces with different heights, filled by natural light everywhere. We felt it was disrespectful towards the context to play with too modern design languages in this house, so we decided, without complexes, to use rustic elements from the local collective imagination in our project. Save this picture!Axonometric Section 1Save this picture!Axonometric Section 3Save this picture!Axonometric Section 5In this way, we achieve a country house with a rural appearance, well integrated into its surroundings, but on the other hand it is not a habitual dwelling there at all, since in the end it is a completely different dwelling from any other one that is usually built in the village, both in terms of floor plan and volume and spatiality. We provided the project with textures, materials, constructive elements and formal games typical of what we imagined we would find in a village in the area, but we played with contemporary design techniques to conceive the building.Save this picture!© niveditaa guptaSave this picture!DetailsSave this picture!© niveditaa guptaIn the fields surrounding the site we can find numerous abandoned tobacco drying sheds, which are agricultural buildings that had facades built with brick lattices to encourage cross ventilation inside, and thus better dry the tobacco leaves that hung inside. As architects, the drying rooms seemed too attractive for us not to incorporate them into our country house in any way, so we decided to create double ventilated facades in certain parts of the house to reduce the passive and natural effect of the sun inside the house.Save this picture!Axonometric 1The windows were marked with wooden lintels, traditional wrought iron grilles and carpentries and blinds were used, green carriage, etc., all of which are elements of the collective imagination of the rural world, without necessarily being elements used in the traditional architecture of the area. A country house with a contemporary floor plan and spatiality, but camouflaged in the rural world through symbolic elements of village architecture.Save this picture!© niveditaa guptaProject gallerySee allShow lessMatt Daniels Maps World Populations as MountainsArchitecture NewsBlack House / Benjamin HellerSelected Projects Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/899560/cottage-in-las-herencias-ooiio-arquitectura Clipboard Photographs:  niveditaa gupta Manufacturers Brands with products used in this architecture project ArchDaily Photographs Area:  2350 m² Year Completion year of this architecture project CopyAbout this officeOOIIO ArquitecturaOfficeFollowProductsConcreteBrick#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesLas HerenciasSpainPublished on January 04, 2019Cite: “Cottage in Las Herencias / OOIIO Arquitectura” [Casa de Campo en Las Herencias / OOIIO Arquitectura] 04 Jan 2019. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogPartitionsSkyfoldChoosing the Skyfold Wall for Your SpaceGlass3MSun Control Window Film in MarkthalBathroom AccessorieshansgroheBath & Shower ThermostatsCabinetsFlorenseCabinet – FloAirWood Boards / HPL PanelsBruagStair Railing – CELLON®LightsLouis PoulsenOutdoor Lighting – Flindt GardenBathroom AccessoriesBradley Corporation USAHigh Speed Hand Dryers – Aerix+BoardsForestOneLaminate – EGGER laminatesAcousticSchöckStaircase Insulation – Tronsole®Metal PanelsRHEINZINKPanel Systems – Horizontal PanelWall / Ceiling LightsA-LightAccolade Wall Light at River Dental OfficeBricksStröherClinker Brick Slips – StiltreuMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

Sahil’s cameraman attacked, four reporters detained

first_img February 25, 2011 – Updated on January 20, 2016 Sahil’s cameraman attacked, four reporters detained Organisation RSF_en Newscenter_img Aden province security forces physically attacked a cameraman working for the opposition TV station Sahil and briefly detained four reporters – Marzaq Yassin, Abdelrahman Anis, Bassem Sha’bi and Fares Jalal – while they were covering a demonstration. Help by sharing this informationlast_img read more

Disturbing lapses in application of new rules for foreign media

first_img April 27, 2021 Find out more ChinaAsia – Pacific News Organisation Receive email alerts Reporters Without Borders voiced deep concern today about a series of incidents that show that some officials within the state apparatus have no intention of respecting the new regulations for foreign journalists. In the past few days, a BBC crew was expelled from a city in the central province of Hunan, the correspondent of a website based abroad was banned from working and two news media were prevented from covering the recent People’s Congress meeting.”The government clearly has not done all that is necessary to ensure that the correspondents of foreign news media really are able to move about and work freely,” the press freedom organisation said. “What was the point of proclaiming new regulations if they are not respected?Reporters Without Borders added: “We call on the government to sanction those who prevent journalists from working and to remind officials at all levels about the new rules. A lot remains to be done to ensure that press freedom is guaranteed before the Beijing Olympic Games.”The organisation also voiced outrage about public security minister Zhou Yongkang’s call on 19 March for the police to reinforce the crackdown on “hostile forces” (meaning religious sects and separatist movements) in order to create a “harmonious society” before the Olympic Games. June 2, 2021 Find out more March 22, 2007 – Updated on January 20, 2016 Disturbing lapses in application of new rules for foreign media to go further Democracies need “reciprocity mechanism” to combat propaganda by authoritarian regimes News Follow the news on China News RSF_en Help by sharing this information News ChinaAsia – Pacific James Reynolds and another BBC World Service journalist went to Zhushan, in Hunan province, on 15 March to report on rioting that had just taken place there in protest against an increase in public transport fares. They were able to enter the city, see the damage and interview residents. While trying to find out more about the rumoured death of a student, they were arrested by several policemen and soldiers and were taken to a hotel room, where they were questioned by six officers, filmed and photographed.Two senior officers then admonished them for failing to get permission before going to Zhushan. “You are not in the United States or Britain,” one of them said. One of the journalists explained that the government has just introduced new regulations that allow foreign journalists to move about freely in China. “That is just for stories linked to the Olympic Games and I don’t think you came here for the Olympic Games,” the officer replied.Reporters Without Borders is outraged at the way Sun Lin, a contributor to the US-based news website Boxun and founder of the banned newspaper Da Du Shi, had his press card withdrawn. A foreign ministry representative in the eastern city of Nanjing went to Sun’s home on 16 March and ordered him to stop writing. Sun, who is better known by his pen-name, Jie Mu, told Reporters Without Borders he had written about abuse of authority but did nothing illegal.Reporters Without Borders calls on the government to return his press card and to allow the correspondents of Chinese news websites based abroad to work without impediment.The authorities have still not specified whether the new freedom of movement rule also applies to Tibet, Xinjiang and Inner Mongolia. Some correspondents recently visited these regions without problem, although foreigners still need to have special permission. Reporters Without Borders calls on the government to clear up this uncertainty and to open these regions to the press.The Beijing Olympic Games organising committee promised complete press freedom, but the central and local authorities are stepping up their control of the Chinese media. The municipality of Pingdu in the eastern province of Shandong, for example, ordered all of its departments to reduce “negative reporting” to the minimum. Writers and artists are also being censored more. On 19 March, a Beijing court rejected a complaint by writer and former journalist Dai Huang against the General Administration of Press and Publications for banning a reissue of one of his books. Another writer, Zhang Yihe, has also referred the banning of his book to the courts.At the end of January, the State Administration of Radio, Film and Television ordered TV stations to stop broadcasting films and programmes on prime time that run counter to “Communist Party values.” The media were also forbidden to cover the anniversaries of Communist Party leaders and historic events without prior permission.This month’s meeting of the People’s Congress in Beijing was marked by the refusal to give accreditation to some journalists. Neither the Chinese-language section of the BBC World Service nor Taiwan’s Apple Daily newspaper were allowed to cover this political event. Nonetheless, most foreign journalists were able to freely interview parliamentarians and experts for the first time.The business magazine Caijin, a favourite source of news and information for the international community, was forced to censor an article on the adoption of new private property legislation and to withdraw articles from its website. Censorship has also affected foreign TV stations such as CNN, part of whose interview with Hong Kong chief executive Donald Tsang was blacked out on 10 March.The Chinese media also censored parts of Prime Minister Wen Jiabao’s annual news conference when he fielded questions on sensitive issues from foreign reporters, such as a French journalist who asked him about former party leader Zhao Ziyang, who died in disgrace.Changes to adopt in order to be able to host the Olympic Games in an acceptable manner:1. Release journalists such as Zhao Yan and Ching Cheong, as well as Internet users detained in China for exercising their right to information.2. Rescind the restrictive articles in the Foreign Correspondents Guide, especially articles 14 and 15, which limit the freedom of movement of foreign journalists.3. Withdraw censorship measures from the draft law about the management of crisis situations.4. Disband the Publicity Department (the former Propaganda Department), which exercises daily control over content in the Chinese press.5. End the jamming of foreign radio stations.6. End the blocking of thousands of news and information websites based abroad.7. Suspend the “11 Commandments of the Internet,” which lead to content censorship and self-censorship on websites.8. Scrap the blacklists of journalists and human rights activists who are banned from visiting China.9. Withdraw the ban on Chinese media using foreign news agency video footage and news reports without permission.10. Legalize independent organisations of journalists and human rights activists. China: Political commentator sentenced to eight months in prison China’s Cyber ​​Censorship Figures March 12, 2021 Find out morelast_img read more

PERRYMAN: Looking Ahead to 2018

first_img WhatsApp Facebook Twitter Pinterest Facebook WhatsApp Ray Perryman is the head of The Perryman Group and serves as a distinguished professor at the International Institute for Advanced Studies. I am now entering my fifth decade in the forecasting business (I started very, very young). One of the things I can assure you from these years of experience is that you truly never know what a year will bring (or a day, for that matter). Nonetheless, I thought it would be good to start 2018 with a few thoughts about some of the things we do know. This year will bring several opportunities to improve the trajectory of the United States economy and improve social systems. There will also be notable challenges, both domestic and international (how am I doing so far?).During the next few months, Congress and the president will have to deal with the federal budget and debt ceiling in order to avoid a default. It is exceedingly difficult to reduce spending in an immediate manner, particularly since more than half of the federal budget is comprised of Social Security, Medicare, and Medicaid. A default would be catastrophic to global financial markets and likely usher in a significant recession. The debt ceiling is an artificial limit that has long outlived its usefulness (it started in World War I due to the difficulty of getting Congress together during a recess if borrowing for military outlays became necessary). Increasing the limit does nothing more than authorize paying bills for spending that has already been approved. The consequences of not acting are severe, and, for that very reason, cooler heads should prevail. We will likely have some political theater, but no real harm.A shutdown occurs when the federal government runs out of budget authority to keep operating, but is much less hazardous that a debt default. It would certainly be disruptive, with fallout ranging from inconveniences to more lasting damage. However, unlike a debt ceiling failure, bills will still be paid and essential functions will still be carried out. Either a real budget deal will be hammered out or we will continue to see short-term fixes to keep things going. Given the current political climate, the latter is more likely. Operating without a budget denies us the right to seriously consider priorities and make fundamental changes for our long-term benefit. It is no way to run a country, but it certainly isn’t unprecedented (we went for years without one during the Obama Administration). If a solid and sustainable budget can be passed, the economy will benefit from increased certainty and, hopefully, a more rational approach going forward. If the real issues are not dealt with now, the problems will only grow more difficult in the future. In any case, look for a lot of fun and games and shenanigans along the shores of the Potomac.Another opportunity for real change is through comprehensive immigration reform. In addition to issues of fairness and opportunity for those seeking to immigrate to the United States, the U.S. economy needs the workers. Reform which covers the spectrum from visas to a path to citizenship is long overdue. While there is broad-based, bipartisan support for changes to the system, the specifics will be difficult to agree upon. A better system could provide lasting economic benefits, increase efficiency, and resolve many of the challenges for our future workforce.Another opportunity is to pass an infrastructure bill which gets at big problems. The American Society of Civil Engineers’ Report Card for America’s Infrastructure looks at the condition and performance of infrastructure such as roads, bridges, aviation, drinking water, public transportation, and more. The most recent report came in at a dismal D+, with an estimate of more than $2.0 trillion in additional funds needed to fix the problem (over and above the trillions expected to be spent). An infrastructure bill is expected to be on the table, and improving infrastructure will help maintain U.S. competitiveness (not to mention quality of life).In addition to these potential policy changes, the coming year will shed additional light on the full implications of the tax bill. I expect that it will generate an ongoing stimulus, the size of which depends in part on corporate responses. It will increase the federal deficit, but not at an unsustainable level. To make a measurable dent in our growing national debt will require bipartisan legislation with a long-term focus (I wouldn’t count on that). I expect that the Federal Reserve will continue to normalize monetary policy and its balance sheet, which will tend to have a dampening effect on economic growth (but one I think the economy will be able to weather without too much trouble).This year will bring challenges to the Organization of the Petroleum Exporting Countries (OPEC). Production cuts to shore up oil prices were extended into 2018, but the issue will almost certainly be revisited at OPEC meetings this summer. It would not be surprising to see additional volatility in the oil market as OPEC and other major producing nations such as Russia try to work together. Situations in Venezuela and Iran could also cause production shifts and associated price movement. Rising U.S. production represents yet another wrinkle. On balance, I think that oil prices will likely continue to trend upward in response to general supply and demand conditions, but volatility may well increase.The U.S. economy’s strength will help as we deal with what comes. There are also opportunities for notable forward progress. The beginning of a new year is a time when many of us look to the future and set goals or make resolutions. If the folks in Washington would show some resolve and actually deal with major issues in a meaningful way, Americans for generations to come would benefit from greater prosperity and a more sustainable government. Although that is unlikely, I do think that 2018 will be a solid year for the economy. On that positive note, I will end and say “Happy New Year!!” By admin – January 7, 2018 Previous articleMASTER GARDENERS: Gardening is good for your healthNext articleWILLIAMS: Dangers of Government Control admin Pinterest Local NewsBusiness Twitter PERRYMAN: Looking Ahead to 2018last_img read more

IBC Ordinance Suspending Insolvency Process Applicable To Pending Applications With Respect To Defaults Arising On Or After March 25: NCLT [Read Order]

first_imgCorporateIBC Ordinance Suspending Insolvency Process Applicable To Pending Applications With Respect To Defaults Arising On Or After March 25: NCLT [Read Order] Nilashish Chaudhary12 July 2020 8:04 AMShare This – xThe National Company Law Tribunal (NCLT), Chennai Bench has ruled that Section 10A of the Insolvency and Bankruptcy Code, 2016 (IBC), which bars the initiation of insolvency proceedings against a defaulter, will be applicable to pending applications with respect to defaults arising on or after March 25. NCLT also observed that it was ‘untenable’ to suggest that Sec. 10A would be…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe National Company Law Tribunal (NCLT), Chennai Bench has ruled that Section 10A of the Insolvency and Bankruptcy Code, 2016 (IBC), which bars the initiation of insolvency proceedings against a defaulter, will be applicable to pending applications with respect to defaults arising on or after March 25. NCLT also observed that it was ‘untenable’ to suggest that Sec. 10A would be applicable to only those cases which were filed after June 5 – the date of promulgation of the IBC Ordinance 2020 – as it would be contrary to the legislative intent and object expressed in the promulgation of the Ordinance, by the Centre. “The date of filing cannot determine the rights of the parties in view of the prevalent extraordinary situation which will wholly defeat the object of the promulgation of the Ordinance in protecting the interest of the corporate persons”, held the NCLT The Chennai Bench of NCLT passed this verdict in a case where insolvency proceedings under Section 9 IBC were pending against a Corporate Debtor, when the Centre promulgated the “Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020” on June 5, which suspended the workings of Section 7, 9 and 10 of the IBC. Section 10A was inserted for such purposes, taking note of the difficulties caused to companies by lockdown. Given this development, the Corporate Debtor approached NCLT seeking for proceedings against them to be disposed of, since their date of alleged default was April 30. The two-member Bench, comprising of R Varadharajan, Member (Judicial) and Anil Kumar B, Member (Technical), had to consider the distinction to be drawn between insolvency petitions that had already been filed from the ones that had not. The question to be considered was whether Section 10A would be applicable to pending proceedings. The Operational Creditor also urged that in case of no financial distress arising out of COVID-19, protection under Sec 10A could not be claimed by the Corporate Debtor. Looking into Sec 10A, the NCLT clarified that its provisions do not apply to defaults arising before March 25, and thus creditors had not been restrained from approaching NCLT in those instances. The provision which opens with a non-obstante clause, overrides Sec 7, 9 and 10 initially for a period of 6 months, which could be extended further beyond March 25, 2021, opined the Bench. Despite the Ordinance being published on June 5, the Tribunal laid down that “the main provision of Section 10A taken together with the Explanation makes it clear that a ‘Lakshman Rekha’ so as to say, has been demarcated by providing the relevant date of 25.03.2020 in relation to a default and filing of an application for initiation of CIRP”. Taking stock of the legislative intent, the Tribunal further stated as follows:- “The Executive, as manifest from the Objects and reasons, seems to have also been concerned about proper suitors being available for resolution of insolvency of corporate persons if pushed into insolvency in relation to defaults, arising on or after 25th March 2020… …the object of I&B Code is for the resolution of insolvency of corporate persons in a time bound manner by maximizing the value of the assets available with the Corporate Debtor by balancing the interest of all the stakeholders concerned, which may not happen; this seems to be apprehension of the Executive under the prevailing situation prompting it to exclude the default arising on or after 25.03.2020 as a ‘default’ itself giving rise to the filing of an application seeking initiation of the CIRP.” Additionally, considering the application before it, NCLT laid emphasis on the proviso to Sec 10A to enunciate that pending insolvency applications regarding defaults which had allegedly occurred on or after March 25 are removed from the ambit of Sections 7, 9 and 10. Therefore it was concluded that, since the alleged default in the present case had arisen on April 30, the main proceedings would come under the ambit of Sec 10A. The present application was thus allowed, while the main insolvency proceedings were disposed of. Thereby NCLT has held that the Centre’s Ordinance, passed on June 5, will have retrospective applicability in terms of defaults arising on or after March 25, 2020.Click Here To Download Order[Read Order] Next Storylast_img read more

Movies in the Park is back with an action-packed lineup

first_imgITHACA, N.Y. — The Tompkins County Chamber of Commerce will kick off its annual Movies in the Park series on Friday with a screening of the Disney-Pixar hit “Incredibles 2” in Stewart Park.The family-friendly fun will continue with films each Friday in August, starting when the sun goes down:Aug. 2 – “Incredibles 2”Aug. 9 – “Mary Poppins”Aug. 16 – “Captain Marvel”Aug. 23 – “The Mighty Ducks”Aug. 30 – “Spider-Man: Into the Spider-Verse” Movies in the Park has become an Ithaca mainstay since its launch in 2014, and features draws for kids and adults alike. Damiani Wine Cellars will offer wine, beer and cider by the glass and bottle. Event partner Ithaca To Go will bring deliveries right to viewers’ lawn chairs and picnic blankets, with an on-site stand for placing orders from nearby restaurants.Festivities will start at 7 p.m. each Friday with picnicking, games and vendors. The movies will start at dusk, running from about 9 to 11:30 p.m. The rain location is The State Theatre, 107 W. State St., Ithaca.As always, the movie nights are free and open to all. The 2019 Movies in the Park series is presented by Chemung Canal Trust Company and sponsored in part by Grammatech and CSP Management.Follow the event page on Facebook for updates.Featured image courtesy of Movies in the Park.  Devon Magliozzi is a reporter for the Ithaca Voice. Questions? Story tips? Contact her at [email protected] or 607-391-0328. More by Devon Magliozzi Your Arts & Culture news is made possible with support from: Tagged: chemung canal trust company, events, movies in the park, tompkins county chamber of commerce Devon Magliozzi last_img read more

People encouraged to have their say on A5 redevelopment

first_img FT Report: Derry City 2 St Pats 2 Facebook People encouraged to have their say on A5 redevelopment Previous articleMica households may be asked to pay 10% of redress costsNext articleGardai warn of phone scam doing the rounds in Donegal News Highland News, Sport and Obituaries on Monday May 24th Pinterest Facebook Google+ People are being encouraged to have their say on the A5 redevelopment.The consultation relates to four new drafts of environmental assessment reports.The closing date for submissions is this Friday.West Tyrone MP Orfhlaith Begley says its vital make their views known for this vital piece on infrastructure to progress:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2019/05/beghgfhgfhgfgley.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. DL Debate – 24/05/21 WhatsApp Derry draw with Pats: Higgins & Thomson Reaction center_img Twitter Google+ AudioHomepage BannerNews Harps come back to win in Waterford WhatsApp Twitter RELATED ARTICLESMORE FROM AUTHOR Pinterest Journey home will be easier – Paul Hegarty By News Highland – May 14, 2019 last_img read more

Council scheme awarded Chambers Ireland Excellence award

first_imgHomepage BannerNews By News Highland – November 28, 2020 Pinterest Twitter Google+ Important message for people attending LUH’s INR clinic RELATED ARTICLESMORE FROM AUTHOR WhatsApp Council scheme awarded Chambers Ireland Excellence award Facebook Facebook Google+center_img Arranmore progress and potential flagged as population grows News, Sport and Obituaries on Monday May 24th DL Debate – 24/05/21 A Donegal County Council scheme has won the Chambers Ireland Excellence in Local Government Award.The Council’s Thatch Repair Grant Scheme was recognised in the ‘Heritage & Built Environment’ category at the online awards ceremony this week.The Chambers Ireland in Local Government Award recognises the best local authority initiatives that promote public interest in, and knowledge, appreciation and protection of local heritage.The only one of its kind in Ireland, the Thatch Repair Grant Scheme, is a cross-directorate initiative between the County Donegal Heritage Office and the Conservation Office of Donegal County Council which carried out 26 thatch repair projects in the county this year.As well as conserving an overlooked aspect of built heritage, the Thatch Repair Grant Scheme supports the employment of local thatchers, the growing of thatch materials and the retention of an important tourism asset and iconic image of County Donegal.The scheme allows people to continue to live, work and stay in thatched buildings across the county. Previous articleDiversions in place following crash outside StrabaneNext articleDecision to keep wet pubs closed a huge blow – Harley News Highland WhatsApp Twitter Pinterest Loganair’s new Derry – Liverpool air service takes off from CODA Nine til Noon Show – Listen back to Monday’s Programmelast_img read more