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“Robust trading results led the way,” said Howard Chen, a banking analyst at Credit Suisse, describing the latest profits. |
To prevent a catastrophic financial collapse that would have sent shock waves through the economy, the government injected billions of dollars into banks. Some large institutions, like Goldman and Morgan, have since repaid their bailout money. But most of the industry still enjoys other forms of government support, whi... |
Goldman Sachs and its perennial rival Morgan Stanley were allowed to transform themselves into old-fashioned bank holding companies. That switch gave them access to cheap funding from the Federal Reserve, which had been unavailable to them. |
Granted, banks are also benefiting from a stabilizing economy. The fear that gripped the markets earlier this year, when doomsayers predicted a second Great Depression, has largely dissipated. Stocks, corporate bonds, even risky corporate i.o.u.’s — have all rallied from their bear market lows, some spectacularly so. T... |
Banks that had marked down the value of the assets on their books during the dark days of the crisis are now enjoying a rebound in the value of many of those assets. |
As the number of banks has dwindled, the survivors are moving into the void left by rivals that are either dead or limping and unwilling to take risks. |
A big reason for Goldman Sachs’s blowout profits this year has been the willingness of its traders to take big risks — they have put more money on the line while other banks that suffered last year have reined in such moves. Executives say there are big strategic gaps opening up between banks on Wall Street that are ta... |
Banks that have waded back into the markets have been able to exploit large gaps in the prices of various investments, a feature of the postcrisis financial markets. The so-called bid-ask spreads — the difference between the price at which banks are willing to buy things like bonds, and the price at which they are will... |
Still, the newfound success is largely limited to the big securities houses on Wall Street. This week, Citigroup and Bank of America reported losses from credit card delinquencies and mortgage defaults — a sign of the lingering pain on Main Street. |
What happened to empathy and solidarity when it comes to refugees? |
Europe is not doing its share for the refugees. And by not taking control of the flight routes, it is also giving people smugglers free reign, writes GroenLinks leader Jesse Klaver. |
At the beginning of this year I became a father again. I enjoyed the couple of weeks’ leave granted to new fathers and during that time politics was put firmly on the back burner. When I went back to work I wondered if the job was really worth missing so much of home life for. |
The feeling didn’t last very long. I realised that the refugee debate had taken on a different, much harsher tone. What happened to empathy? To solidarity? |
Even politicians ideologically close to GroenLinks are saying we should stem the tide of refugees. We have a euro commissioner who is juggling figures, a finance minister speculating about the sustainability of the welfare state and a prime minister who is saying that the number has to come down to zero. Things were ve... |
We all felt the grief of the parents and tried to imagine the despair of how it would be if it were us sitting in a boat with our children. This empathy and solidarity was felt across the board, independent of political preference or background. Government leaders agreed: this cannot be allowed to happen in Europe. |
Six months on, we no longer talk about him, or the despair of people on the run from barrel bombs and barbarian Jihadis. We talk about our own problems. We’re talking about ‘fewer, fewer, fewer’ refugees. |
It’s all we’re hearing at the moment. I want to change that. It’s wrong and it’s not what the Netherlands is about. And it’s not realistic. The war in Syria is becoming ever more complex. Lebanon is increasingly unstable. Civil war looms in eastern Turkey, while thousands upon thousands of Syrians are heading for the T... |
To say there will be fewer refugees is to tell a lie and will only increase the chaos. Obstructing flight routes only helps the people smugglers who increase their prices, while the refugees take ever greater risks to secure a place in a rickety boat. Ask yourself: how great must the needs of these people be if they ar... |
Let’s be honest here. The refugee camps in the region are a woeful excuse for not doing what we ought to do. Europe, with half a billion people, is accommodating a million refugees. Lebanon, which only has four million inhabitants, is doing the same. The pressure on the region is horrendous. |
For five years now people have been living in these camps with nothing to look forward to. The first thing we have to do is to invest, in improving living conditions, in making sure the adults get work permits and the children get to school. And let’s see things as they are. We must count on the same number of refugees... |
We have to work on a legal route. We will make it easier, not harder, for refugees to come to Europe. People smugglers can only be combated if we, to put it bluntly, move into their territory and take over the merchandise. We can do that if we work together. International aid organisations have been saying this for yea... |
The United Nations’ refugee organisation UNCHR has a relocation programme for the camps in Jordan and Lebanon. We must ask the UNHCR to identify, register and select people in Jordan, Lebanon and Turkey. The UNHCR has already requested 460,000 relocation places. Let’s give them those places. At the moment, the EU is on... |
We have to redress the balance. Then people won’t have to get into boats, or be turned back. All this costs money. What is needed are big investments, and cooperation with countries like the US, Canada, Australia and countries in the region such as the Gulf states. That is the only way to gain control over who comes he... |
We can filter out the young men who hope to come here from other North African countries such as Morocco and Tunisia. The people we need to be helping are refugees, most from Syria and a small number from Iraq and Eritrea. |
It is impossible to promise the number of refugees will be brought down as long as there is a civil war in Syria. What we can do is improve the way aid is organised. There will be tension, including in this country. There will be individuals who misbehave, both refugees and Dutch citizens. They have to be caught and pu... |
It will be difficult for the refugees to integrate. They have to learn the language, find jobs and abide by the rules of our society. It will be expensive. It will be difficult. It may be hell in their home countries but we can’t promise these people it will be heaven here. But I see thousands of people offering their ... |
A majority of people are worried but we can do this. That silent majority needs to find its voice. And if things are difficult all we need to think of is that little boy in the blue trousers and the red top on the beach. That is our motivation. |
TALLINN - Health officials are concerned infertility funding is to be slashed in the projected 2009 budget at a time when Estonia's population is shrinking. |
The budget has reportedly earmarked only 10 million kroons (639,114 euros) for in vitro fertilization (IVF) treatment, a marked decrease from the current 50 million kroon allocation. |
The Estonian Health Insurance Fund said patients will likely once again have to pay for 30 percent of their treatment 's which will deter them from using the program, especially in times of economic instability. |
The program is of particular importance in Estonia as it is a small nation with low birth rates and high levels of emigration. The Estonian Health Insurance Fund recognizes the vital importance of taking measures to encourage couples to have children. |
By the end of this year over 1400 IVF procedures will have been performed in Estonia; the prognosis for 2009 was to be 1500 such procedures but according to Director of Nova Vita IVF clinic, Andres Saluments, the reduced budget has derailed this expectation. |
"With this money it is possible to make only about 200 procedures and not 1500, as was planned in this year," Saluments said. |
According to Saluments, the 1500 procedures would amount to roughly 800 successful births, a figure that comprises 5 percent of Estonia's annual births. |
"Sadly, this decision will become a big disappointment for many patients," he said. |
30 percent of the cost. He said that out of the 8483 kroon cost of the treatment, patients will be left to foot 2500 kroons. |
Prior to 2008 patients were also required to foot a percentage of the bill, but statistics show that this hampers the effectiveness of the IVF program; when the government moved to cover the complete cost of the treatment a 25 percent increase in participation was seen. |
Elie Llles, a press-representative for the Ministry of Social Affairs, has said that the decision to return to personal participation in the IVF payment had not yet been confirmed, and the topic not properly discussed. |
"As of yet the standing is indefinite, as it is not clear how much money will be spent on IVF this year," she said. |
Nonetheless, the Estonian Health Insurance Fund and medical professionals appear skeptical about such statements, remaining adamant that the cuts will be made and Estonia's already faltering population growth will pay the price. |
Estonia's longstanding IVF program, which was conceived in Tartu in 1993, has gained international renown for its high rate of success, often attracting EU patients who have been unsuccessful in their home countries. |
Technical questions may be referred to the Permanent Engineering Board. Treaty personnel are identified below. |
Built in 1967, Duncan Dam is a storage reservoir, built as part of the Columbia River Treaty. Duncan Dam and Duncan Lake spans the Duncan River in British Columbia, Canada. |
Arrow reservoir was created when the Hugh Keenleyside Dam was constructed in 1968 to bound the original Arrow Lakes and the Columbia River. |
Libby Dam is a US Army Corps of Engineers, Seattle District dam. Libby Dam and Lake Koocanusa are located in Libby Montana. Libby Dam Project is a multi-purpose water resource development. Its purposes are flood reduction, hydropower, recreation, and environmental stewardship. |
Mica Dam was built in 1973. Mica Dam, which forms Kinbasket Lake was built as one of three Canadian projects under the terms of the 1964 Columbia River Treaty and is operated by BC Hydro. |
The Columbia River Treaty is an international agreement between the United States and Canada on the coordinated development and operation of the Columbia River Basin. |
The Treaty established Canadian and United States Entities and a Permanent Engineering Board. |
In Canada, B.C. Hydro is the Canadian entity. In the United States, the U.S. Entity includes the Administrator of the Bonneville Power Administration and the Division Engineer of the North Pacific (currently Northwestern) Division of the U.S. Army Corps of Engineers. A Presidential Executive Order created the U.S. Enti... |
The Entities appoint representatives to the operating and hydrometeorological committees, while the Permanent Engineering Board appoints members of the PEB Engineering Committee. |
Entities are responsible for overseeing the conduct of the Columbia River Treaty and include B.C. Hydro, Bonneville Power Administration, and the U.S. Army Corps of Engineers' Northwestern Division with the Permanent Engineering Board handling tasks such as assembling flow records, assisting in settling differences tha... |
The Columbia River Treaty established the Permanent Engineering Board (PEB) to handle tasks such as assembling flow records, assisting in settling differences that may arise between the Entities, and creating annual reports of the results being achieved. |
Article XV of the Treaty established the Board consisting of four members, two appointed by Canada, and two by the U.S. |
Investigating and reporting with respect to any other matter coming within the scope of the Treaty at the request of either the U.S. or Canada. |
For the U.S. Section of the PEB, the Secretary of the Army and Secretary of Energy each appoint one person as a U.S. member. At the time of appointment such members may be but need not necessarily be, officers or employees of the U.S., and shall serve as a member of the Board at the pleasure of the appointing Secretary... |
In addition to the two members, there are two alternate U.S. members of the Permanent Engineering Board, with one each appointed by the respective Secretaries. The appointed members and alternate members compose the U.S. Section of the PEB. The member appointed by the Secretary of the Army is the Chairman of the U.S. S... |
The hyped "citizen journalism" trend isn't panning out too well: Backfence, a network of 13 local sites where users could post their news items, classifieds and photos, is shutting down. The sites remain up, but carry a farewell message. The company already made layoffs in January (it employed 25 people, according to A... |
Others will do a better postmortem than us, but my initial hunch is that these ventures (Bayosphere was another, that got rolled into Backfence when it failed) were too ambitious, and focused too heavily on "journalism" instead of tech. Notice how the most successful "user generated writing" sites are really just about... |
Vehicle retailer 2 Cheap Cars Limited faces 10 charges under the Fair Trading Act 1986 over its “must liquidate" and “84% off” advertising claims and its use of “warranty waiver” documents, following a Commerce Commission investigation. |
The investigation was opened in November 2017 after the Commission received a number of complaints from consumers. |
The Commission alleges this advertising was misleading as to the price of the cars because it suggested that many vehicles would be significantly discounted, and there would be no further opportunity to purchase from 2 Cheap Cars. Most of the 710 vehicles then for sale nationwide were not discounted at all or had disco... |
In January 2017 2 Cheap Cars’ newspaper advertising included the phrase “84% off”. The Commission alleges this was misleading because the “84% off” claim, together with the phrase “Massive Stock Liquidation: This Weekend Only” created the impression that the discount was off the price of the cars. In fact, the discount... |
The Commission alleges the waiver documents misrepresented consumers’ rights under the Consumer Guarantees Act 1993 (CGA) because: under the CGA consumers have rights of remedy against suppliers whether or not the goods are covered by any other warranty a consumer does not lose the CGA protections by declining to purch... |
The Commission estimates that consumers signed in excess of 20,000 warranty waivers during the charge period and 2 Cheap Cars stopped using them in December 2017, after being notified of the Commission investigation. |
As this matter is now before the Court the Commission will make no further comment at this time. |
2 Cheap Cars operates 14 car yards across New Zealand. |
Consumers need to be able to rely on the accuracy of claims. This page of the Commission website has information about making accurate claims and includes our video If you can’t back it up, don’t say it. |
Retailers must comply with the disclosure rules around selling extended warranties such as mechanical warranties offered by motor vehicle dealers. Extended warranties feature in episode 10 of our animated series It’s All Good. |
State of the Uterus is #bossbabesATX’s annual party for progress. This annual pop-up party features a lineup of all-babe DJs, a stellar local biz raffle, a small marketplace, speeches and talks from Austin’s most influential and impactful organizers and thought leaders, period-kit packing (for distribution to Austin’s ... |
Lawmakers in Chile are Assemblymembers Katcho Achadjian, R-San Luis Obispo, Steven Bradford, D-Gardena, Rocky Chavez, R-Oceanside, Henry Perea, D-Fresno, Cristina Garcia, D-Bell Gardens, Marc Levine, D-San Rafael, and Jimmy Gomez, D-Los Angeles. |
Meanwhile, around twenty lawmakers will embark on this year’s iteration of an annual conference in Maui. Organized and funded by a nonprofit called the Independent Voter Project, the event draws substantial funding from pharmaceutical magnate Eli Lilly and boasts around 80 sponsors that include public employee unions, ... |
In addition to interacting with fellow lawmakers, legislators will attend panels on topics that include public safety, healthcare, energy and technology. Various interest groups, from the Western States Petroleum Association to the California Chamber of Commerce to the California Hospital Association, are invited to pa... |
“Our sponsors represent most of the industries that employ people in California,” Howle said. |
He said attendees include Assembly Republican leader Kristin Olsen of Modesto, Assemblyman Bob Wieckowski, D-Fremont, and the two termed out former leaders of the lower house - Assemblymembers John A. Perez, D-Los Angeles and Connie Conway, R-Tulare. |
Lawmakers claimed more than $550,000 in travel-related expenses in 2013, according to a Bee analysis, with the trips largely subsidized by foreign governments or by nonprofits and foundations that drew funding from, or had links to, various interest groups and industries. |
Media figures are falsely claiming that Florida's controversial "Stand Your Ground" self-defense law played no role in the trial of George Zimmerman for the killing of Trayvon Martin. |
In the wake of Zimmerman's March 2012 killing of Martin, media attention turned to the role of Florida's "Stand Your Ground" (also known as "Shoot First" or "Kill at Will" statute). That law allows a person who believes his life or safety is in danger to use deadly force in self-defense without being required to retrea... |
The statute was drafted with the help of the National Rifle Association. After Florida passed the law in 2005, it was adopted as model legislation by the American Legislative Exchange Council and nearly two dozen states passed similar legislation. Such laws have been found to increase the rate of homicide and have a ra... |
After Zimmerman was found not guilty of murder in the death of Martin, gun violence prevention advocates again highlighted the role of Florida's self-defense law. But some in the media, due to a misunderstanding of the statute's breadth, have falsely claimed that the law played no role in the trial. |
On the July 15 edition of CNN's New Day, co-hosts Chris Cuomo and Kate Bolduan agreed that the law played no role in the case. |
In fact, Florida's self-defense laws set the framework by which Zimmerman was tried, setting the standard by which the jury would have to determine if Martin's death resulted from the justifiable use of force. Indeed, the jury instructions in the case specifically mention that "If George Zimmerman was not engaged in an... |
If George Zimmerman was not engaged in an unlawful activity and was attacked in anyplace where he had a right to be, he had no duty to retreat and had the right to stand his ground and meet force with force, including deadly force if he reasonably believed that it was necessary to do so to prevent death or great bodily... |
"The defendant cannot justify the use of force likely to cause death or great bodily harm unless he used every reasonable means within his power and consistent with his own safety to avoid the danger before resorting to that force. |
The fact that the defendant was wrongfully attacked cannot justify his use of force likely to cause death or great bodily harm if by retreating he could have avoided the need to use that force." |
Florida's Stand Your Ground law also had ramifications on the case before the trial began and will continue now that it has concluded. |
Shortly after Martin's killing began receiving media attention in March 2012, in part because Zimmerman had not been arrested, Sanford's City Manager issued a statement claiming that because Zimmerman had said he acted in self-defense when police questioned him at the scene, "law enforcement was PROHIBITED from making ... |
Attorneys for Mr. Martin's family said they are considering filing a civil lawsuit against Mr. Zimmerman, though they haven't made a decision. "We're still trying to make sense of the verdict in the criminal case," said Benjamin Crump, a lawyer for the family. "We'll be talking about our options going forward in the co... |
Such a case would face high hurdles, legal observers say. Mr. Zimmerman can seek immunity from civil lawsuits under Florida's so-called Stand Your Ground law--something his attorney said he planned to do. "In effect, there will be no civil suits," said Tamara Lave, a University of Miami law professor. "If there is a ci... |
Fort Gibraltar has a complete summer lineup planned outside of its normal Festival du Voyageur activities in February. |
June 19 and 20 — Visitors can explore the military and social history of Manitoba at the Soldier Camp. |
July 17 and 18 — The Fort will host an Aboriginal Camp, where visitors can discover the culture of First Nations people before the arrival of Europeans. |
July 3 and August 15 — The public can experiment with music and dance through interactive traditional music workshops on. |
July 31 — A visual arts exhibition under the bicentennial theme will be held. |
August 20 to 22 — The annual fall gathering of the Selkirk Settlers. |
August 28 and 29 — To end the season, those who enjoy culinary arts can taste the garden’s delights at the Fall Harvest. |
Now until August 29 — Guided tours available in English and French will transport visitors back in 1815 as they discover a lifestyle completely opposite to ours. |
Admission is $5.00 for adults and $4.00 for children. For more information visit FestivalVoyageur.mb.ca. |
US economy looks better, so why do we worry? |
The U.S. economy has churned out some pretty encouraging news lately, but plenty of skeptical Americans still have much anxiety about this recovery. |
Major questions remain about certain aspects of the health of the economy, including stagnant wage growth, unemployment and corporate taxes. |
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