Finance ministers give EU recovery fund the green light

first_img Harry Robertson It means the European Council – the heads of EU states and the bloc’s top brass – can now negotiate the details of the fund with the European Parliament. Following a meeting of EU member state finance ministers, German finance minister Olaf Scholz said: “We have equipped ourselves with what we need now because we’re still in a difficult situation vis-a-vis infections.” Tuesday 6 October 2020 5:11 pm ‘Time is of the essence’ Also at the ministers’ meeting, which was held virtually, participants agreed to nominate Swedish finance minister Magdalena Andersson to head the International Monetary and Financial Committee, the steering board of the International Monetary Fund (IMF). There was little disagreement over the fund in the finance ministers’ meetings. Rising coronavirus cases across Europe have prompted governments to act fast. Finance ministers give EU recovery fund the green light European Union finance ministers gave the green light to the €750bn (£682bn) coronavirus recovery fund that was first outlined by the bloc’s leaders in July. German finance minister Olaf Scholz urged all parties to move quickly to get the funds to where they are most needed (Getty Images) Also Read: Finance ministers give EU recovery fund the green light “The funds have to be made available where they’re needed quickly for the various programmes, so that those programmes can get up and running to meet the challenge of the crisis.” whatsapp Share “Instead of that V shape that we all long for and hope for, we fear that it might have that second arm of the V a little bit more shaky.”  He urged all parties to move quickly to finalise the details of the fund and to make it become law. “It’s extremely important that these major challenges have to be taken on board and shouldered quickly,” he said.  German finance minister Olaf Scholz urged all parties to move quickly to get the funds to where they are most needed (Getty Images) Valdis Dombrovskis, European Commission vice president for the economy, said: “We now look forward to the European Parliament also coming with its negotiation position so that negotiations and dialogues can start as soon as possible.” “Time is of the essence, we want to make this new facility operational quickly so that it can support the recovery and members states can move forward with their reforms and investments.” Earlier today, European Central Bank (ECB) president Christine Lagarde expressed worries about the recovery due to rising cases. German finance minister Olaf Scholz urged all parties to move quickly to get the funds to where they are most needed (Getty Images) Also Read: Finance ministers give EU recovery fund the green light whatsapp The Eurozone economy shrank by 11.8 per cent in the second quarter, the biggest drop on record. Although GDP has rebounded relatively strongly, economists say a second wave of Covid would derail the European economy. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory”Waltons” Actress Says Magazine Ended Her CareerPast FactoryUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach RaiderUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndo Show Comments ▼last_img read more

All of the latest CCFL fixtures

first_img Community RELATED ARTICLESMORE FROM AUTHOR Division 3:Banagher Utd v St Carthages AthDerry Rovers B v St Aengus, 7:45pmMaryborough v Geashill AFCDivision 4:Clonmore Utd v Ballinahown BSaturday, May 12First-named teams at home and all games at 2.30pm unless stated Facebook All of the latest CCFL fixtures Twitter Combined Counties Youths Cup Final (Born 2000 or younger):Edenderry Town v Willow ParkUnder 19 Cup Semi Final:Portlaoise B v Clongowes WoodAngela Hearst FAI Womens Interleague:Combined Counties Football League v Metropolitan LeagueDivision 1 Saturday:UCL Harps v Castlepollard CelticBallymahon AFC v Grange UnitedSunday, May 13First-named teams at home and all games at 11.00pm unless statedJohn Farrell Combined Counties Cup Semi Finals:Derry Rovers v Birr Town, 12.00pmGentex FC v Rosenallis AFC, 12.00pmOliver Ward Division 3 Cup Final:Colmcille Celtic v Geashill AFC, 12.00pmSenior Division:Clonaslee Utd v Clara Town ADivision 1:Walsh Island Shamrocks v Horseleap UtdDivision 2:O’Moore FC v Highfield UtdGallen Utd v Stradbally TownDivision 3:BBC Utd v Banagher UtdSt Carthages Ath v Derry Rovers BDivision 4:Ballinahown B v Cloneygowan CelticSEE ALSO – Triple injury blow for Sugrue ahead of Leinster championship opener Here’s all of this week’s CCFL fixtures.Wednesday, May 9First-named teams at home and all games at 7.15pm unless statedDivision 1 Saturday:Camlin United v UCL HarpsCastlepollard Celtic v Ballymahon AFCSenior Division:Ballinahown A v Willlow Park Clara Town A v Birr Town ARosenallis A v Monksland Utd A Division 1:Gentex v Mountmellick UtdDivision 2:Gallen Utd v FC Killoe Pinterest Council WhatsApp Five Laois monuments to receive almost €200,000 in government funding TAGSCCFL FixturesLaois Soccersoccer Ten Laois based players named on Leinster rugby U-18 girls squad By Sean Hennessy – 9th May 2018 Pinterest Rugby Previous articleDeaths in Laois – Wednesday, May 9, 2018Next articleSugrue confirms one-year term was ‘mutual agreement’ Sean HennessyA former Knockbeg student, and is currently a student in the University of Limerick trying to scrape a BA in History and Politics. A marquee player in the goals for Annanough, but well capable of doing a job in full-forward and has the knack to turn his hand to any sport (except running). Only starting out in his journalistic career but already the specialist farming and property reporter. Happiest when Liverpool and Laois are winning! Home Sport Soccer All of the latest CCFL fixtures SportSoccer Twitter Facebook WhatsApp Laois County Council create ‘bigger and better’ disability parking spaces to replace ones occupied for outdoor dining last_img read more

Clare IFA grateful for the aid of Laois farmers

first_img Twitter Home News Farming Clare IFA grateful for the aid of Laois farmers NewsFarming By Sean Hennessy – 21st May 2018 WhatsApp Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ WhatsApp Laois farmers sent a huge number of feed bales to Clare, where the Clare IFA distributed the bales to the farmers who were most in need.SEE ALSO – 76 tonnes of rubbish dumped in Laois since January TAGSClare IFACounty Twinning ProjectfarmingFodder CrisisLaois IFA Rugby Ten Laois based players named on Leinster rugby U-18 girls squad Facebook RELATED ARTICLESMORE FROM AUTHORcenter_img Community Twitter Pinterest Mark Brophy, John Dunne from Vicarstown, Denis Touhy Clare and Willie Hanrahan chairman of Clare IFA, Francis Gorman Chairman of Laois IFA, Henry McLoughlin and Michael Knowles, Laois IFA Secretary At this month’s Laois County Executive IFA meeting, members of the Clare IFA attended the meeting to say thanks for the help Laois farmers gave during the fodder crisis.Clare IFA Chairman Willie Hanrahan gave an address to the members in attendance in which he thanked Laois IFA and the Laois farmers that donated feed over the terrible spring.He stressed that without this aid and help, many more Clare farmers would have suffered greater loses.The crisis began as a result of a prolonged winter period.Many animals spent up to six months stored in sheds as the weather was simply too bad to let them out.It all came to a head then in March with the arrival of Storm Emma.It brought prolonged snowfall and left many farmers and their animals stranded.Laois were paired with Clare in the County Twinning Project, which was set up to combat the issue of the Fodder Crisis. Clare IFA grateful for the aid of Laois farmers Facebook Five Laois monuments to receive almost €200,000 in government funding Community Previous articleLaois president urges local retailers to attend National ConferenceNext articleDeaths in Laois – Monday, May 21, 2018 Sean HennessyA former Knockbeg student, and is currently a student in the University of Limerick trying to scrape a BA in History and Politics. A marquee player in the goals for Annanough, but well capable of doing a job in full-forward and has the knack to turn his hand to any sport (except running). Only starting out in his journalistic career but already the specialist farming and property reporter. Happiest when Liverpool and Laois are winning! Pinterestlast_img read more

Mountmellick FET Centre raise funds for Ken Smollen Food Appeal

first_img Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory Early Childhood Mountmellick Food Drive Fair play to all involved here!The Early Childhood group at Mountmellick FET Centre organised and ran a food drive in the centre, for the Ken Smollen Food Appeal.This is a Tullamore-based voluntary organisation that provides food packages to over 300 impoverished local families every month.They also organised a Christmas Jumper Day, with proceeds given to Ken also.Ken collected the food today and the group were very happy to help some families, even just a little.Fiona Horan said: “Ken works with a wonderful group of volunteers, helping out families in the midlands, and surrounding areas that are living with food poverty.“He told us today that he receives many donations at Christmas time, which is fabulous-but these families are struggling all year round.“He can be contacted through his Facebook page and he is very careful to ensure complete discretion and confidentiality for the families involved.” Facebook Mountmellick FET Centre raise funds for Ken Smollen Food Appeal Pinterest By Alan Hartnett – 19th December 2018 WhatsApp WhatsApp RELATED ARTICLESMORE FROM AUTHOR TAGSKen Smollen AppealMountmellick FET Centre Facebook Twittercenter_img SEE ALSO – In Pictures: Kolbe Special School puts on spectacular Winter Wonderland for children Here are all of Wednesday’s Laois GAA results GAA Previous articleIn Pictures: Retired Portlaoise Hospital porter turns home in Christmas wonderlandNext articleDeaths in Laois – Thursday, December 20, 2018 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. GAA Home News Mountmellick FET Centre raise funds for Ken Smollen Food Appeal News Pinterest GAA Twitter 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshinlast_img read more

Insurers retooling retirement vehicles

Share this article and your comments with peers on social media Threat of ‘overregulation’ worries insurers Related news Life insurers have been seeing hefty rates of redemption in segregated funds, but as baby boomers begin to retire in large numbers, insurers see sizeable opportunities to provide other innovative new retirement savings and income vehicles. In a panel discussion at the Canadian Association of Independent Life Brokerage Agencies (CAILBA) annual meeting in Toronto, insurance company representatives said sales of segregated funds have been gradually trending lower over time. Industry gross annual sales fell to $11.4 billion in 2012 from $15.7 billion in 2007, according to Trevor Archer, head of guaranteed investment products research and development with Manulife Private Wealth. Keywords Segregated funds,  Guaranteed Minimum Withdrawal Benefit “The trend in the last five years has been alarming,” he said. “We’ve seen sales drop off.” Largely contributing to this trend is the rapidly evolving market for segregated funds that have guaranteed minimum withdrawal benefit (GMWB) features. As insurers have been taking steps to raise the price and dial back the guarantees associated with these products, sales have taken a considerable hit. “We’re seeing it in our sales numbers,” said Archer. “They’re just not coming around and buying it in the same numbers that they once did.” Some carriers have pulled these products from their shelves altogether, as it became clear that the guarantees associated with the products carried too much risk in weaker economic environments, and as capital requirements have continued to climb. Others have simply tweaked the features in an effort to make the risks more manageable. Archer pointed out that Manulife has launched three different revised versions of its IncomePlus GMWB product since 2009, in response to the challenging market conditions. “The products weren’t designed for a falling interest rate environment; they weren’t designed for volatility,” said Archer. He said insurers such as Manulife are now going back to the drawing board to develop income products that are more sustainable in the long run. “Income is where we’re focusing a lot of our dollars right now, a lot of our attention,” said Archer. Specifically, they’re designing products that are more flexible in nature, and which can adapt to changing economic and interest rate environments. “Products that have payout features are going to need to adapt,” he said. “We have to be able to adjust the guarantees over time.” The goal is to find a balance of features that is attractive for clients and advisors as well as manufacturers, according to Kirk McMillan, regional vice president, sales retail markets with Standard Life. “I don’t think we’re done with the iterations of what GMWBs look like,” he said. “I think it’s going to continue to go until we find that balance.” Given the vast number of Canadians who are headed into retirement, insurers see huge opportunity in the retirement income market. Specifically, 4.4 million Canadians will be retiring in the next 10 years, Archer said. “Financial wealth is going to remain concentrated, in the next 10 years, with those over 65,” he said. “You have money, you have masses, you just need the right products to give them income.” As products continue to evolve, advisors will play a critical role in helping clients choose the income solutions that best meet their needs, according to Paul Holba, vice president, retail investments distribution with Empire Life Insurance Co. “I believe that the real opportunity for the advice channel is taking products and working with the individual in putting together a plan that works for them, combining all the different elements of all the different products that are available to them,” he said. CAILBA panel spotlights growing compliance burden Megan Harman Facebook LinkedIn Twitter read more

FSCO issues update on identity theft scheme

James Langton Synthetic identity theft is the fastest-growing financial crime, U.S. Fed warns On July 29, FSCO issued a warning about a company called “Sentel Insurance”, which it said was calling RBC clients and offering identity theft protection insurance on behalf of RBC. (See Investment Executive, FSCO warns of identity theft insurance scheme, July 29, 2013.) At the time, FSCO said that it had confirmed with RBC that the company “does not appear to be selling a valid product, is not a valid insurance agency associated with RBC, and is not licensed to do insurance business in Ontario.” However, in an update published Thursday, FSCO reported that “RBC has since confirmed” that calls are coming from “an authorized provider of products and services for the bank known as Famtel.” FSCO also noted that the company “does not offer, nor claims to offer, insurance products.” Related news Keywords Identity theft,  Insurance fraudCompanies Financial Services Commission of Ontario Options fraud on the rise, FINRA warns Earlier this week, the Financial Services Commission of Ontario (FSCO) issued a warning about a company that appeared to be soliciting clients of Royal Bank of Canada (RBC) to sell them insurance without a licence. On Thursday, it corrected that warning, and indicated that the company is working for RBC, but that it’s not selling insurance. FSCO warns of identity theft insurance scheme Facebook LinkedIn Twitter Share this article and your comments with peers on social media read more

Stock markets, interest rates take toll on pension plans

first_img DB plan solvency in best position since financial crisis: FSRA Related news The funding status of Canadian defined benefit (DB) plans dropped sharply in the fourth quarter (Q4) as a result of declines in both equities markets, which hit investment returns, and long-term interest rates, which boosted pension liabilities, Mercer Canada reports.The Mercer pension health index, which represents the solvency ratio of a hypothetical plan, dropped to 102% in Q4 from 112% in the third quarter (Q3), the firm says. Furthermore, Mercer Canada reports that less than 30% of Canadian pension plans were fully funded at the end of the year, down from 60% at the end of Q3. The S&P/TSX composite index dropped by 10.1% in Q4 to finish the year down by 8.9%, Mercer Canada reports. At the same time, U.S. equities also declined by 8.6% (in Canadian dollar terms) during the quarter and global equities were down by a similar amount. Canadian fixed-income markets rose in Q4, with long-term bonds gaining by 1.9%.As a result, a typical balanced pension portfolio would have declined by 3.8% in Q4, Mercer Canada reports: “After defying headwinds for the first three quarters, financial markets finally succumbed to the pressure of rising short-term interest rates, trade wars, and turmoil in certain emerging market economies.”Nevertheless, Mercer Canada points out that Canadian DB plans started the quarter in relatively good shape, funding-wise, which cushioned the impact of the market turmoil.“Canadian pension plans took a significant hit in the fourth quarter, but thankfully they were starting from a very strong position” said Manuel Monteiro, leader of Mercer Canada’s financial strategy group, in a statement.Looking ahead, financial markets may continue to experience heightened volatility in the new year, added Todd Nelson, principal at Mercer Canada, in a statement: “The global economy will face a challenging 2019 with the expectation of central banks continuing on their tightening path and the unsettling political backdrop.” Facebook LinkedIn Twitter Share this article and your comments with peers on social media A see through piggy bank with money coins pogonici/123RF James Langton Keywords Pensions Mature single women are wealthier than mature single men, StatsCan finds Surging bond yields take a bite out of Canadian DB planslast_img read more

Enhanced Skills Options for Australia’s Growing Defence Industry

first_imgEnhanced Skills Options for Australia’s Growing Defence Industry Department of DefenceDefence industry businesses are being given greater access to a Morrison Government grant aimed at growing the skills of Australia’s defence industry.The Skilling Australia’s Defence Industry (SADI) program offers grants of up to half a million dollars to support the skilling needs of eligible small to medium businesses, with the Government providing $39 million over the next two years.Following feedback from industry, the SADI guidelines have been amended to broaden eligibility requirements for skilling and training and for training providers.Defence industry businesses can now apply for grants for a number of activities to help Australian businesses to become ‘defence ready’.Minister for Defence Industry Melissa Price said the Morrison Government had listened to business and responded by expanding and improving access to training offerings through the SADI grants program.“SADI can now support defence industry in technical and trade skills training, improved human resources practices, apprenticeship supervision, and on-the-job training,” Minister Price said.Other types of eligible training include design, engineering, project/program management and logistics.It also includes training to enhance understanding of Commonwealth Government processes, such as procurement services and Defence operations, and support services, including information technology and cyber security.“The Defence Teaming Centre is one industry association that is now able to use its SADI grant to provide a Diploma of Digital Technologies course to 16 participants who represent 14 different small to medium Australian defence businesses,” Minister Price said.“This Government’s support for skills training is part of our plan to develop the workforce needed to deliver on our historic $270 billion investment in Defence capability.“A skilled workforce will help build our sovereign industrial capabilities, support innovation and grow the competitiveness of Australian industry, both here and overseas.”Since September 2020, the Government has awarded 34 grants to industry businesses to the amount of almost $2 million. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:apprenticeship, army, Australia, Australian, Australian industry, commonwealth, cyber security, Defence, Engineering, Government, grants program, Morrison, Morrison Government, navy, participants, price, Skills, technologylast_img read more

CU-Boulder To Test Campus Text-Messaging System April 7 Following City-Campus Flood Siren Test

first_imgThe University of Colorado at Boulder will join with Boulder and other Boulder County cities in a flood-warning siren test the morning of Monday, April 7, and will follow it two hours later with a test of the university’s text-messaging system.CU-Boulder’s sirens will be activated at about 10 a.m. Monday by the Boulder County Sheriff’s Office of Communications. The campus test will coincide with siren tests by the city of Boulder and other Boulder County cities and towns including Eldorado Springs, Lafayette and Lyons.The test of CU-Boulder’s text-messaging system, called Rave, will be at about noon on Monday. The Rave text-messaging system was launched on Aug. 23 last year as students returned to campus for the fall semester.CU’s text-messaging system had 11,808 subscribers as of April 2 including students, faculty and staff members. Of the total subscribers, 84 percent, or 9,918, are students. Student subscribers represent about 34 percent of the nearly 29,000-member student body based on the April 2 total.CU-Boulder students have been encouraged to sign up for the wireless text-messaging service so the campus administration can notify students, faculty and staff swiftly via their mobile phones in case of a campus emergency.A CU-Boulder Task Force decided in July 2007 that quick text messaging via mobile phones would be a valuable addition to other communication tools such as public address systems, electronic message boards and e-mail by providing a direct link to students in an emergency. Quick notification in an emergency has been a focal point on college campuses in the post-Virginia Tech environment, which raised concerns about campus emergency notification systems.A one-year contract to provide CU’s service via Rave Alert of New York was approved last year at a cost of about $18,000 for 2007-08. In addition to the base fee, CU-Boulder pays 6 cents per completed text message under the current contract. The contract will be renegotiated and extended for another year in 2008-09.The Rave system allows the CU-Boulder administration to send messages of 132 characters or less to cell phones in the database, and messages are received within several minutes of the transmission. Messages can be updated and used to direct people to appropriate Web sites and TV and radio stations for information.In emergencies, users would be directed to the CU home page at www.colorado.edu, to the CUConnect portal at cuconnect.colorado.edu/uPortal/index.jsp and to the campus Information Line at 303-492-4636 or 303-492-INFO.Following CU-Boulder’s April 7 siren test, which lasts for about two minutes, the sirens will be tested on the first Monday of each month beginning April 7 and concluding on Monday, Aug. 4. Other siren testing dates are Monday, May 5; Monday, June 2; and Monday, July 7. Siren testing is conducted annually to ensure the sirens work properly, to improve public understanding about the use of the sirens, and to inform citizens about how to respond when the outdoor warning sirens are activated.For information about the text-messaging system go to the CU-Boulder Web site at www.colorado.edu/alerts. For more information about the Boulder flood warning system contact Linda Stafford of the Boulder Office of Emergency Management at 303-441-3640. Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: April 3, 2008 last_img read more

Business confidence turns downward going into 2019

first_img Published: Jan. 2, 2019 • By Andrew Sorensen Categories:Business & EntrepreneurshipNews Headlines Colorado business leaders are lowering their expectations going into the new year, according to a new survey out from the Leeds School of Business at CU Boulder.The Leeds Business Confidence Index (LBCI) marked a drop to its lowest point since 2011. The overall reading is roughly neutral, at 50.1. A score above 50 signals a positive outlook, a score below 50 marks a negative outlook.The LBCI, compiled by the Leeds Business Research Division quarterly for 16 years, measures business leaders’ expectations for the state and national economies, industry sales, profits, hiring plans and business investment.Business leaders signaled they are more optimistic about the state economy than they are about the national economy. The 234 panelists were still positive about the state’s outlook for the next quarter, with a reading of 51.“All of the sub-categories around their business—capital expenditures, hiring, sales and profits—are all above 50 or in the expansionary territory,” said BRD Executive Director Richard Wobbekind. “So they’re still optimistic, but not bullishly optimistic.”The outlook for the national economy dropped sharply into negative territory, to 42.5. That mirrors concerns expressed in financial markets and narrative laid out recently by the Federal Reserve.Survey respondents are the most optimistic about industry sales, though every LBCI category declined ahead of the new year amidst lingering uncertainty.“We just came through the holiday season with really strong retail sales,” Wobbekind said. “The employment numbers are still very strong. The unemployment rate is still low. GDP growth for the fourth quarter will end up being a very solid number. I don’t think you can look at anything related to the real economy, other than perhaps housing, and say, ‘It’s really slowing down.’ There is plenty of spending power out there.”Overall expectations stayed relatively flat looking forward to the second quarter of 2019.Read the full report here.center_img Share Share via TwitterShare via FacebookShare via LinkedInShare via E-maillast_img read more