News North Korea tries to accelerate building of walls and fences along border with China By Cho Jong Ik – 2013.12.24 9:39pm News RELATED ARTICLESMORE FROM AUTHOR Facebook Twitter Ryoo, who was speaking before the National Assembly Legislation and Judiciary Committee, went on, “Becausethe term ‘unification’ contains a great number of variables, it’s no easy taskto talk about ‘by what time [it can or will be achieved].’” Pouring water on the political tensions, South Korea’s Minister ofForeign Affairs Yun Byung Se also echoed Ryoo’s view, stating, “We are putting a lotof different kinds of effort into fostering an international environmentconducive to Korean unification, but it is a little early to be talking aboutthis at present.” Elsewhere, Yun also warned of additional purgesfollowing the execution of Jang Song Taek, noting, “We know that many peopledomestically are anticipating this. The South Korean government is investigatingand analyzing various possibilities.” Cho Jong Ik SHARE South Korean Minister of Unification RyooKihl Jae commented on the timing of Korean unification today, cautioning that it “shouldnot be thought of as a situation that can be brought about immediately or in the nearfuture.” However, Yun dismissed recent claims that Kim JongEun’s half-brother Kim Jong Nam has requested asylum in South Korea, sayingthat “We are not looking into anything like that.” Nam Jae Jun took a similarline at a National Assembly committee meeting yesterday, calling the rumorgroundless. Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak News Nevertheless, Yun did reveal that South Korea hasimplemented a policy to prepare for the possibility of North Korean elites seekingasylum in the wake of Jang’s execution. “The order has been handed down to overseasembassies and diplomatic posts to remain on alert,” he stated. “They are ready to pass wordto headquarters if there are North Korea-related movements.” Ryoo’s remarks follow in the wake of the director of South Korea’s National Intelligence Service, Nam Jae Jun,who told a yearend meeting of NIS executives yesterday, “Unification ispossible in 2015. Let’s die together to bring about the unification of our landunder liberal democracy.” Opposition Democratic Party lawmaker Park Jie Won reacted angrily to reports of Nam’s comments,noting that “the implication is of unificationby force, and that is unhelpful for the peace and security of the KoreanPeninsula.” News Too Early for NIS’ Unification Chatter There are signs that North Korea is running into serious difficulties with its corn harvest
Share this article and your comments with peers on social media Institutional investors are back to hoping that policymakers will intervene to support a faltering recovery, reports the BofA Merrill Lynch Survey of Fund Managers for June. The latest survey found that views on the economy have weakened. A net 11% of investors surveyed now believes that the global economy will deteriorate in the coming 12 months, which is the weakest reading so far this year. Last month, a net 15% believed the economy would strengthen. The firm says that the negative swing of 26 percentage points is the biggest since July-August 2011 as the sovereign crisis built. Additionally, the survey found that the outlook for corporate profits has suffered a similarly negative swing. A net 19% now believes that corporate profits will fall in the coming 12 months. Last month, a net 1% saw improving corporate profits. Amid this gloomier outlook, investors are shunning risk assets. The survey found that average cash balances are at their highest level since the depth of the credit crisis in January 2009, at 5.3% of portfolios, up from 4.7% in May. Asset allocators have also moved to a net underweight position in global equities and increased bond allocations, it reports. A net 4% are now underweight global equities, compared with a net 16% overweight last month. And, they reduced their underweight position in bonds to a net 23%, down from a net 33% in May. So, investors are looking once again at policymakers to provide more economic stimulus. The latest survey found that the majority of investors now believes that global monetary policy is ‘too restrictive’. The highest reading for that belief since December 2008. Back in May, a net 15% said policy was ‘too stimulative’. And, the proportion of global investors saying global fiscal policy is ‘too restrictive’ has also continued to rise. “Hopes expressed last month of a policy response have now become expectations. Markets are keenly anticipating decisive action from key policy meetings in June,” said Michael Hartnett, chief global equity strategist at BofA Merrill Lynch Global Research. In the meantime, investors are seeing global equities as undervalued. The survey reports that a net 48% now believes global equities are undervalued, matching the lowest level since the survey began. And, a net 83% says that bonds are overvalued, which is also an all-time high, up from a net 74% a month ago. “Investors have taken extreme ‘risk off’ positions and equities are oversold, but we have yet to see full capitulation. Low allocations in Europe are in line with perceptions of growing risk levels in the eurozone,” said Gary Baker, head of European equities strategy at BofA Merrill Lynch Global Research. Additionally, the survey reports that last month’s growing optimism about China’s economy has come to a halt. The panel is now equally split about whether China’s economy will get stronger or weaker in the year ahead. Last month, a net 10% predicted it would strengthen. And, 16% now believe China’s economy faces a ‘hard landing’, up from 9% in May. Moreover, sentiment towards emerging markets generally has softened, it says. A net 17% of global asset allocators are now overweight global emerging market equities, down from a net 34% in May. Commodities have also lost favour, it says, with a net 8% underweight the asset class. A total of 260 investors with US$689 billion of assets under management participated in the survey from May 31 to June 7. Related news Keywords Fund managers, Institutional investors Factor investors remain confident despite market turmoil Investors make tactical shifts in anticipation of volatility James Langton Tapping China’s rich retail market a costly proposition: Moody’s Facebook LinkedIn Twitter
Global exchange trading rebounds: WFE James Langton Keywords ExchangeCompanies Nasdaq OMX Group, Inc. ICE to consolidate bond trading in new unit Facebook LinkedIn Twitter Related news Five critical questions around the TMX-LSE merger To qualify, companies must meet at least one of several criteria, including: annual net income of $750,000 (all figures US dollars); total assets and annual revenue of $50 million; funding received and enterprise value of at least $30 million, shareholders’ equity of $5 million and a two-year operating history; or, backing by recognized investors with a track record of successful venture investments. Investors must be accredited investors, and the market will also impose minimum disclosure requirements on issuers. The new company was formed in March 2013 as a joint venture between the Nasdaq OMX Group, Inc. and SharesPost, Inc. Securities-related services will be offered through NPM Securities, LLC, a registered broker-dealer and alternative trading system, which is a member FINRA/SIPC and a wholly-owned subsidiary of Nasdaq Private Market, LLC. “Nasdaq Private Market will bring liquidity, efficiency and control to private companies. Member broker-dealers and their investor clients will benefit from greater access to financial information, transaction flow and liquidity,” said Greg Brogger, president of Nasdaq Private Market. Along with the basic functions of raising capital and facilitating trading, Nasdaq notes that companies can also use the new platform to manage liquidity programs for employees and other shareholders “by enabling companies to identify a pool of potential buyers and set parameters on the percentage of holdings that shareholders can sell. Participating shareholders gain liquidity, and the company is able to facilitate the transition of ownership into the hands of long-term institutional holders.” Additionally, it says that the new markets will help private companies improve their transition to the public markets “by facilitating engagement with long-term institutional investors well in advance of a public offering.” “Nasdaq Private Market gives entrepreneurs more flexibility in deciding if and when to go public,” said Bruce Aust, executive vice president at Nasdaq OMX and chairman of the Nasdaq Private Market board. “By obtaining interim liquidity relief, companies can choose to enter the public markets based on the needs of their business and with the proper corporate solutions and institutional investor relationships in place for a seamless transition.” Nasdaq announced the launch of its new marketplace for private companies to raise capital and facilitate trading in a secondary market. The new venue, Nasdaq Private Market, was launched today. It aims to provide qualifying private companies with the ability to efficiently raise capital, control secondary transactions, and manage their equity-related functions. Share this article and your comments with peers on social media
Prospect of whistleblower riches causes friction Zoom seminar debacle attracts OSC warning According to the SEC’s order, Weir conducted transactions between Paradigm and a broker-dealer that she also owns while trading on behalf of a hedge fund client. Given that this sort of trading creates a possible conflict between the interests of the adviser and the client, advisers are required to disclose that they are participating on both sides of the trade and must obtain the client’s consent. The SEC says that the firm attempted to satisfy the written disclosure and consent requirements by establishing a conflicts committee to review and approve each of the principal transactions on behalf of the hedge fund. However, it found that the committee was, itself, conflicted, as it consisted of two people that essentially reported to Weir. Because the conflicts committee was not independent, “Paradigm failed to provide effective written disclosure to its hedge fund client and failed effectively to obtain the hedge fund’s consent prior to the completion of each principal transaction,” the SEC order says. “Paradigm’s use of a conflicted committee denied its hedge fund client the effective disclosure and consent to which it was entitled,” said Julie Riewe, co-chief of the SEC enforcement division’s asset management unit. “Advisers to pooled investment vehicles need to ensure that any mechanism developed to address conflicts in principal transactions actually mitigates those conflicts.” The SEC also says that after Paradigm discovered that the firm’s head trader had reported potential misconduct to the regulator, it “engaged in a series of retaliatory actions that ultimately resulted in the head trader’s resignation.” It says the firm removed him from his position as head trader, tasked him with investigating the very conduct he reported to the SEC, changed his job function from head trader to a full-time compliance assistant, stripped him of his supervisory responsibilities, and otherwise marginalized him. “For whistleblowers to come forward, they must feel assured that they’re protected from retaliation and the law is on their side should it occur,” said Sean McKessy, chief of the SEC’s Office of the Whistleblower. “We will continue to exercise our anti-retaliation authority in these and other types of situations where a whistleblower is wrongfully targeted for doing the right thing and reporting a possible securities law violation.” This is the first time the SEC has filed a case under its new authority to bring anti-retaliation enforcement actions. “Paradigm retaliated against an employee who reported potentially illegal activity to the SEC,” said Andrew Ceresney, director of the SEC enforcement division. “Those who might consider punishing whistleblowers should realize that such retaliation, in any form, is unacceptable.” James Langton Related news Keywords WhistleblowersCompanies Securities and Exchange Commission SEC’s whistleblower payouts top US$900 million Share this article and your comments with peers on social media Facebook LinkedIn Twitter The U.S. Securities and Exchange Commission (SEC) has brought its first enforcement action in defense of a whistleblower, charging a hedge fund advisor with carrying out improper trading activity, and for retaliating against an employee with reported the questionable trading activity to the SEC. The SEC said Monday that it has charged an Albany, N.Y.-based hedge fund advisory firm, Paradigm Capital Management, and the firm’s owner, Candace King Weir, with engaging in prohibited principal transactions, and then retaliating against the employee who reported the trading activity to the SEC. They agreed to pay US$2.2 million to settle the charges, without admitting or denying the findings in the SEC’s order against them. The payout includes disgorgement of $1.7 million for distribution to current and former investors in the hedge fund, prejudgment interest of $181,771, and a penalty of $300,000. The firm also agreed to retain an independent compliance consultant.
IIAC requests more time to implement CDIC’s proposed changes CDIC consults on changes to joint and trust account disclosure requirements Contest winners announced Related news Among the proposals, the federal government is considering the addition of new deposit categories for RESPs and RDSPs, extending deposit insurance coverage to term deposits with terms of maturity greater than five years, and how to address brokered deposits and improve the disclosure of beneficiary information. “Products covered by the deposit insurance framework are being reviewed to reflect the evolving marketplace in the Canadian financial sector,” Finance Canada says in its consultation paper. “Any increase in the scope of the framework would result in a proportionate increase in Canada Deposit Insurance Corp. (CDIC) exposure, which would need to be offset through additional premiums paid by CDIC member institutions, thereby potentially affecting the cost of financial services,” the paper adds. The consultation period for the proposals closes on Nov. 30. Photo copyright: rabbit75123/123RF Share this article and your comments with peers on social media James Langton Facebook LinkedIn Twitter Keywords Deposit insuranceCompanies Canada Deposit Insurance Corp. The Department of Finance Canada on Friday published a consultation paper on deposit insurance to ensure it continues to meet the evolving marketplace in the Canadian financial sector.
Tara Deschamps “The recovery in the Pacific Alliance is lumpy. That’s the nature of our footprint and the maturity of the banking markets,” he told analysts.Porter explained that while Mexico and Chile have returned to pre-COVID level of earnings, Peru continues to struggle with effects of the pandemic.The uneven nature of economic recovery will be a key issue for the bank to manage as it looks to emerge from the health crisis and uncover even more opportunities to deploy the massive reserves it built up earlier in the pandemic, when it was preparing for people to default on loans.Government relief programs for people who lost their jobs and businesses needing wage and rent support helped stave off some of the troubles the bank was facing, leaving it flush with cash.Porter announced Tuesday that Scotiabank’s provisions for credit losses — money it puts aside in anticipation of bad loans — fell to $496 million in the second quarter, compared with $1.85 billion a year ago when the pandemic began and the economy came to halt.The steep decline in provisions was in line with what Canada’s other major banks unveiled when they reported their financial results last week.Like the others, Scotiabank also topped expectations during the period ended April 30 and reported its quarterly profit nearly doubled compared with a year ago.The bank earned $2.46 billion or $1.88 per diluted share, up from a profit of $1.32 billion or $1.00 per diluted share in the same quarter last year.Porter attributed the strong results to the bank’s ability to navigate unprecedented times and maintain stability even when its customers are grappling with hardships.“We continue to see good operating momentum across the bank, and I am encouraged by the steady month-to-month improvement in both business conditions and our results,” said Porter.“Many of our businesses have yet to return to pre-pandemic level of earnings, but we see a clear path to achieving this over many year terms.”His bank’s revenue totalled $7.74 billion, down from $7.96 billion.On an adjusted basis, Scotiabank said it earned $1.90 per diluted share, up from an adjusted profit of $1.04 per diluted share a year ago.Analysts on average had expected the bank to earn an adjusted profit of $1.76 per share, according to financial data firm Refinitiv.The results were buoyed by a deal to buy an additional 7% stake in Scotiabank Chile from the Said family, which the bank signed last month.The deal, valued at about $500 million, will increase Scotiabank’s interest in its Chilean operations to 83%. Canaccord reports record revenues, drops proposal to acquire RF Capital Related news TD getting new head of private wealth, financial planning Keywords Earnings, Banking industry jewhyte/123RF Bank of Nova Scotia believes an economic rebound is on its way this year, but says recovery might be uneven across the countries it operates in.While Canada, the U.S. and some Latin American countries have seen success with widespread vaccination efforts and reopening is on the horizon, the bank’s chief executive Brian Porter said Tuesday that others are falling behind. Fed plays limited role in assessing climate risks for banks Share this article and your comments with peers on social media Facebook LinkedIn Twitter
RelatedHome School Agreements Could Become Enforceable by Law RelatedHome School Agreements Could Become Enforceable by Law FacebookTwitterWhatsAppEmail Minister of Education, Andrew Holness, has said that the level of indiscipline affecting the society, has forced the Government to think seriously about how to make home school agreements enforceable in a court of law.“We are under immense pressure in dealing with students who have problems adjusting to the school environment, because they don’t have the level of support from the home. We are dealing with students who are very violent, students who are very aggressive, students who refuse to follow the instructions of teachers, because there is no parallel reinforcement taking place at the home,” Mr. Holness said.The Minister, who was speaking at an awards ceremony and the launch of the Melrose Primary and Junior High School Parents’/Students’ Handbook, at the school in Kingston, today (October 16), added that the Government was cognisant of the situation and has decided to establish a Parenting Commission, that is designed to elevate the importance of parenting in the minds of parents.“It is designed to give parents support, because as parents you will sometimes have situations where you feel I just cannot manage this child. So, the Government has decided to add tangible support to parents and to parenting in Jamaica, because the schools alone cannot deal with all the social problems,” Mr. Holness said.He pointed out that the Commission would provide information on proper parenting practices and would also provide critical support in terms of counselling and intervention.“Sometimes you have children and you do not know what to do with them, you don’t know who to call on for help, you don’t know where to turn for advice. This Commission will be there for you to call for advice, support and for intervention, where necessary,” Mr. Holness said.The Minister emphasised that what is happening in the home, should be supportive of what is happening in the schools.“So, when the Principal is delivering the instructions to help your child articulate in the society, to help your child be a productive citizen in the society, the same thing must be done at the home. If punctuality is required in the school then the home must support the school in ensuring that children are punctual,” Mr. Holness said.The Minister said he was pleased that Melrose had developed the Parents’/Students’ Handbook.“Several schools have already done so and where they have home school agreements in place, I am pleased to report that the level of discipline has increased and the participation of parents has also increased,” Mr. Holness informed.Member of Parliament for St. Andrew East Central, Dr. Peter Phillips, commended the school and all those who contributed to the preparation of the Parents’/Students’ Handbook.“I want to urge the parents to accept responsibility, to assist and guide the children to accept all the principles and standards in the handbook,” Dr. Phillips said.The Parents’/Students’ Handbook outlines the duties, responsibilities and roles of all the partners in the education system. Advertisements Home School Agreements Could Become Enforceable by Law UncategorizedOctober 17, 2008 RelatedHome School Agreements Could Become Enforceable by Law
Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: March 28, 2018 Randy O’Reilly on spring cleaning and the brain Downloads If you want to know why it’s so difficult to tackle a big project like spring cleaning, blame your brain, says Randall O’Reilly, a professor of psychology and neuroscience at CU Boulder.O’Reilly can discuss the ways that the human brain helps or harms your efforts to tidy up come spring time: How does the brain reward progress on a task like cleaning? Why is it hard for people to get rid of clutter?O’Reilly is director of the Computational Cognitive Neuroscience Laboratory at CU Boulder. His research explores how the underlying mechanisms of the brain give rise to human behavior and other phenomena. Contact him at [email protected] or 720-938-0523.
Linkedin AdvertisementJuly 02, 2018 – Republic National Distributing Company (RNDC), the nation’s second largest wine and spirits wholesaler, is proud to be recognized in the Glassdoor 2018 Employee Choice Awards for Top CEO. Glassdoor is a social recruitment platform that rates employers and their workplaces using feedback strictly from current and former employees. Employees rate the attributes of their employer and the culture which is a trusted resource for perspective job candidates. Over 95% of associates recommend RNDC as a great place to work. In association with this high satisfaction rating, RNDC CEO, Tom Cole, was named in the 2018 Employee Choice Awards for Top CEO. With only two CEOs in the beverage alcohol industry named for this achievement, RNDC is pleased to share this outstanding recognition for Cole who has a 97% approval rating from associates. To read more about this achievement, details can be found at: Glassdoor’s Top CEO List. “RNDC is proud to have our CEO recognized by our associates for his leadership. This recognition is a reflection of RNDC’s culture which Tom emphasizes as a point of differentiation in the work experience for our associates,” said Lorraine Luke, VP Human Resources. “Our associates have consistently rated RNDC as a great place to work which is considered as an important criteria in the Glassdoor Employee’s Choice Award.”To learn more about RNDC’s culture and values, visit www.rndc-usa.com.About Republic National Distributing CompanyRNDC is the second largest distributor of premium wine and spirits in the United States with operations in Alabama, Arizona, Colorado, District of Columbia, Florida, Indiana, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Nebraska, North Carolina, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Texas, Virginia and West Virginia. RNDC employs more than 9500 individuals nationwide. For more information about the company, please visit www.rndc-usa.com. About GlassdoorGlassdoor combines all the latest jobs with millions of reviews and insights to make it easy for people to find a job that is uniquely right for them. As a result, Glassdoor helps employers hire truly informed candidates at scale through effective recruiting solutions like job advertising and employer branding products. Launched in 2008, Glassdoor now has reviews and insights for 770,000 companies located in more than 190 countries. For more information, visit glassdoor.com. Advertisement Share Home Industry News Releases Republic National Distributing Company CEO, Tom Cole, Named in Glassdoor’s 2018 Employee…Industry News ReleasesRepublic National Distributing Company CEO, Tom Cole, Named in Glassdoor’s 2018 Employee Choice Awards for Top CEOBy Press Release – July 2, 2018 500 0 Twitter Email Previous articleAfternoon Brief, June 29Next articleVinum Cellars Debuts New Design for Red Dirt Red Press Release Facebook Pinterest ReddIt TAGSGlassdoorpeopleRepublic National Distributing CompanyTom Cole
Child Advisory Panel Makes Recommendations to Improve Lives of Wards of the State CultureMarch 17, 2014Written by: Elaine Hartman Reckord Photo: JIS PhotographerUnited Nation’s Children Fund (UNICEF) representative to Jamaica, Mark Connolly, (third left) speaks with members of the Child Development Agency’s (CDA) Children Advisory Panel during a courtesy call paid by the Panel on the UNICEF’s representative at his office in Knutsford Boulevard, Kingston, on Friday, March 14. Seated (from left) are: Secretary, Policy Planning and Evaluation, CDA, Jodian Givons; Children Officer, CDA, Tahecia Salmon; Child Protection Specialist, UNICEF, Janet Cupidon-Quallo; Director, Policy Planning and Evaluation, CDA, Newton Douglas; Suzecka Swaby, Glenmuir High School, MayPen, Clarendon; Kinshasia Johnson, Merl Grove High School, Kingston; Meca-Gaye Francis, Campion College, Kingston; Shemar Millwood, Jamaica College, Kingston; Rushay Ximines, Meadowbrook High School, Kingston and Campion College student and Chairperson of CAP, Charles Young. RelatedMinister Hanna hails Bunny Rugs’ contribution to Jamaica’s rich and evolving culture Story HighlightsThe recommendations were based on findings of several sessions held with children, and their care givers at four residential state homes under the Panel’s ‘Plant a Tree’ scheme.CAP panel member Kinshasia Johnson spoke of a brief report that was created, which outlined some of the educational and psychological needs of the children and what was observed at the homes.He said the Panel has recommended the refurbishing of some of the homes, a tighter security system, and improvement of the level of education offered to the children. RelatedYouth Urged to Choose Career Paths Wisely RelatedYouth Minister says Traditional ‘Job for Life’ is Gone FacebookTwitterWhatsAppEmail Child Advisory Panel Makes Recommendations to Improve Lives of Wards of the StateJIS News | Presented by: PausePlay% buffered00:0000:00UnmuteMuteDisable captionsEnable captionsSettingsCaptionsDisabledQualityundefinedSpeedNormalCaptionsGo back to previous menuQualityGo back to previous menuSpeedGo back to previous menu0.5×0.75×Normal1.25×1.5×1.75×2×Exit fullscreenEnter fullscreenPlay The Children’s Advisory Panel (CAP) has submitted a report outlining recommendations to improve the lives of children in state care to the Child Development Agency (CDA).The Panel, developed by the CDA in collaboration with the Children’s Council of Jamaica, was established to foster child participation, and to consult children on issues affecting them.Chairman of CAP and Campion College student, Charles Young made the announcement while meeting with United Nations Children Fund Representative (UNICEF), Mark Connelly, on Friday, March 14, at the UNICEF’s offices in Kingston. He was accompanied by five of the 15-member Panel including: Rushay Ximines, Shamar Millwood, Meca-Gaye Francis, Kinshasia Johnson and Suzecka Swaby of Meadowbrook High School, Jamaica College, Campion College, Merl Grove High and Glenmuir High Schools, respectively.Mr. Young said the report, which was presented to the Chief Executive Officer and management team of the CDA, was based on findings of several sessions held with children, and their care givers at four residential state homes under the Panel’s ‘Plant a Tree’ scheme.“The main idea behind the name is that we would go to state homes and we would plant a tree and the tree would be symbolic of our relationship and just as the tree grows so our relationship will grow as well,” he said.Panel member Kinshasia Johnson said the brief report outlined some of the educational and psychological needs of the children and what was observed at the homes.“We told them about the problems we found at the homes and some possible solutions. Some of the problems they are aware of and some they weren’t aware of, but, nevertheless we told them about it,” she added. Miss Johnson said the varied from one home to another,” she explained.Mr. Young said the CDA was encouraged to work on the recommendations and to share the report with other children’s care organisations.He said the Panel has recommended the refurbishing of some of the homes, a tighter security system, and improvement of the level of education offered to the children.The young Chairman said the Panel also recommended public consultations in order to remove the stigma that all children in state care are “bad.” Advertisements