Stop taking Britain’s glittering fintech status for granted

first_imgBut there are doubts at the moment over both of these advantages.  City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. whatsapp First, the FCA could have fostering innovation as an operational objective. Regulators are driven by their duties and objectives – yet the body overseeing fintech does not have innovation as one of its guiding principles.  Implementing these sorts of ideas is crucial if the UK is to remain a global fintech hub. It does, however, require much more support for fintech from both the Treasury and fintech’s regulator, the Financial Conduct Authority (FCA).  Alongside London’s standing as a global financial services centre, fintech thrives here because of the deep and varied pools of capital which exist, and the talent currently available to ambitious firms.  Tuesday 22 October 2019 4:17 am Over recent months, I have heard countless stories about approaches to London-based businesses from the French, Irish and Germans, based on the idea that the UK’s departure from the EU will make London less economically vibrant and viable.  Nick KingNick King is head of business policy at the Centre for Policy Studies by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryYourDailyLamaHe Used To Be Handsome In 80s Now It’s Hard To Look At HimYourDailyLamabonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comMisterStoryWoman files for divorce after seeing this photoMisterStoryzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comJournalistateTeacher Wears Dress Everyday, Mom Sets Up CamJournalistate whatsapp But if we are to make the most of Brexit, whenever it might be delivered, we must be more self-confident about our underlying strengths and our future potential – and much more assertive in protecting and enhancing that which we are already good at.  There are few sectors more in need of this backing than fintech. The UK’s fintech offering is a global success story, with London the undisputed centre of activity and considered by many – including Deloitte and EY – to be the world’s fintech capital.  Opinion Main image credit: Getty The preaviling narrative in the UK is that the Europeans were deeply disappointed by the 2016 Brexit referendum result, and have been imploring Britain to think again. More From Our Partners Connecticut man dies after crashing Harley into live bearnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and‘Neighbor from hell’ faces new charges after scaring off home It is precisely these sorts of fears that international rivals have been trying to stoke when making their overtures to UK fintech companies. This is a battle that London cannot afford to lose.  In Herding Unicorns, a report I co-authored with colleagues at the Centre for Policy Studies, we put forward a number of recommendations for how we could ensure that tech firms here have access to the talent they need, including a new class of special visas – with qualifying companies able to issue their own Certificates of Sponsorship – and measures to improve the flow of UK citizens with the digital skills required, potentially overseen by a new Digital Sector Skills Council. But if the FCA and the government fail to protect this jewel in the UK’s financial services crown, we will all be poorer as a result. If adopted, these ideas could help London retain its position as the world’s fintech capital. The sector would continue to create jobs, wealth and opportunities within the UK, and we would stave off the best efforts of Emmanuel Macron and the Parisian authorities.  Share Second, it could broker international agreements so that operating within its sandbox allows firms access to other jurisdictions. If the FCA thinks a company can operate within the UK, it should support its development into other markets.  Until recently, it felt as though this was also the UK government’s view, as our politicians treated Brexit as a problem to solve rather than an opportunity to seize.  And, indeed, some have.  To foster and support innovation within fintech, the FCA operates a sandbox, providing a safe and accelerated pathway for firms to get into the regulatory environment and to show their business model works. Many who have operated within the sandbox have praised the role it has played in helping them succeed.  Begbies Traynor has acquired CVR Global in its biggest deal yet. It also contained ideas to increase the quantity and quality of capital available to firms, advocating changes to the Enterprise Investment Scheme and Seed Enterprise Investment Scheme and an extension of the range of investments permissible within Isas, as well as proposing new measures to attract more institutional investment, particularly into later-stage financing.  Underpinned by its status as Europe’s leading finance hub, more than 1,200 fintech firms are based here, employing tens of thousands of people and attracting more than £2bn of investment in 2018.  Nevertheless, fewer than half the industry players recently surveyed by the FCA said that the regulator is effective at facilitating innovation. At a time when the provision of financial services is rapidly evolving, with new technologies disrupting traditional business practices, the FCA must work harder to support the fintech sector and to promote innovation if the UK is to stay on top.  Finally, the FCA could work with other regulators, allowing cross-sector ideas to emerge and come to market. Regulators often operate discretely, making it hard for firms to navigate the plethora of regulatory obstacles which exist.  But, just like British Leave voters in 2016, many Europeans regard Brexit as a unique opportunity for their own countries.  Stop taking Britain’s glittering fintech status for granted When recently surveyed about their concerns by the Digital Finance Forum, two thirds of fintech founders said that access to talent was their biggest concern for the future, partly as a result of changes to immigration policy post-Brexit, while many others pointed to a potential lack of growth capital in coming years.last_img read more

Months later, earthquake ‘swarm’ continues in Port Heiden

first_imgPublic Safety | SouthwestMonths later, earthquake ‘swarm’ continues in Port HeidenNovember 28, 2016 by Avery Lill, KDLG-Dillingham Share:A seismograph at Mission San Juan Bautista in San Juan Bautista, California, on Feb. 23, 2012. The mission is located along the San Andreas fault. (Creative Commons photo by Ray Bouknight)Earthquakes have rattled through Port Heiden more often than usual this year.Michael West is the state seismologist with the Alaska Earthquake Center.“If we look back over the past 15 years or so at earthquake activity in the area of Port Heiden that’s shallow in the earth, what we can say is that the vast majority of those, meaning more than half of them, have occurred thus far in 2016,” West said.West explains how some earthquakes propagate.“Sometimes a fault will rupture in a single significant earthquake. But other times, faults will rupture in a lot of smaller earthquakes,” West said.He calls these quakes near Port Heiden “a swarm.”“You can think of it as like a little cluster of earthquakes that, added together, might be sort of equivalent to a single, larger earthquake.”This swarm, West said, began abruptly on April 2 with a magnitude 6.2 earthquake.“Following that, there was a rather normal, expected sequence of aftershocks. That is hundreds of smaller earthquakes, maybe magnitude 3s, a few magnitude 4s, in response, in response to that earthquake. But the earthquakes in that area have continued over the recent months and kind of peaked again in the summer and are continuing on into today, though at a somewhat lesser rate than in the summer.”Sometimes swarms stop abruptly, West notes, but more often they fade away. And while the earthquakes in the Port Heiden area seem to have been decreasing since August, it’s also possible that they could pick up again. It’s tricky to know where the swarms are headed.Share this story:last_img read more

Dunleavy has signed an emergency declaration due to ‘slow-moving storm’ of coronavirus spread

first_imgCoronavirus | Health | State GovernmentDunleavy has signed an emergency declaration due to ‘slow-moving storm’ of coronavirus spreadMarch 11, 2020 by Nat Herz and Julia O’Malley, Alaska Public Media Share:Gov. Mike Dunleavy talks to reporters at a press conference about the novel coronavirus on Monday, March 9, 2020, while Alaska Chief Medical Officer Anne Zink stands in the background. (Photo by Joey Mendolia/Alaska Public Media)Anticipating what he describes as the coronavirus’ inevitable spread to Alaska, Gov. Mike Dunleavy signed an emergency disaster declaration Wednesday to free up additional resources to help the state prepare.At his third consecutive daily news conference at his downtown Anchorage office, Dunleavy compared the situation to a slow-moving storm.“We can see it coming. We just wanted to gear up now,” he said.There were no confirmed coronavirus cases in Alaska — 60 tests have been done, with 46 negative and 14 still pending as of midday Wednesday. But “we’re anticipating that’s going to change,” Dunleavy said.“It’s going to be in Alaska,” he said. “It’s probably here now.”The declaration allows the state to access federal money and will help expedite government processes as it makes plans to fight the virus, he said.The state is also now confident it can perform more than 1,000 tests, health officials said.Anne Zink, the state’s chief medical officer, said the challenge now is to get hospitals and outpatient clinics set up to run tests. Zink also warned that people who are used to getting health care in Seattle should be checking with their providers because the health care system in the city is overloaded.This story has been updated. State of Alaska is exploring options for housing people quarantined for coronavirusShare this story:last_img read more

Prepare for the Danish Invasion

first_imgUncategorizedPrepare for the Danish InvasionPop-up boutique and gallery HURRA! is launching a Danish design assault on Los Angeles.By Theis Duelund – November 21, 2013521ShareEmailFacebookTwitterPinterestReddItAccording to a recent study the Danes are the happiest people on earth. Whether it’s the universal healthcare, the delicious pastries, or the incredibly creepy portrait of their Royal family, which made the news recently, the northerners seem to be on to something. L.A.-based Danes Sharin Foo, half of indie duo The Raveonettes, and architect and graphic designer Camilla Hjerl are determined to bring some of those authentic Scandinavian vibes to Southern California. On November 22, the two are opening a pop up gallery, HURRA!, on Abbot Kinney that will serve as a platform for showcasing new Danish art and design in Los Angeles. (As far as we can tell, the name HURRA! means the same thing in Danish as it does in English.)Exhibitions at the Venice gallery kick-off with a presentation from art collective AVPD (founded in 1997 by Aslak Vibæk and Peter Døssing) whose “White-Out” project involves transforming “the ugliest building on Abbot Kinney into a clean hermetic box.” Other designers and artists featured at HURRA! include Han Kjøbenhavn, Wood Wood, HUNN, Place de Bleu, ArtRebels, and Olafur Eliasson. The pop up is open to the public until December 30 after which HURRA! will move to a permanent location in downtown.  TAGSCamilla HjerlDanish designHURRA!L.A. CultureSharin FooPrevious articleMeet The Wallace, A New Den for Dining and Drinking in Culver CityNext articleDeath By Train: The Spice Table Closes on New Year’s EveTheis Duelund RELATED ARTICLESMORE FROM AUTHORFollow in Pee-wee Herman’s Footsteps Across L.A.What Defines a Successful Immigrant?The Undocumented Immigrants Who Are Redefining ‘American’last_img read more

Air France-KLM share price opens lower as pilot strikes cut profits in half

first_imgWednesday 29 October 2014 7:41 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar Programinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost Fun whatsapp Shares in Air France-KLM opened 3.6 per cent lower at €6.41 this morning, after third quarter operating profit fell by half . Profit for the three months to 30 September in 2014 was €247m, compared with €641m during the equivalent period last year. The company put the fall in profit down to September’s pilot strikes, saying their cost amounted to €416m (£328m) in lost revenues.  The strikes took place following the airline’s announcement that it planned to increase the number of passengers carried on its budget airline Transavia by more than 100 per cent. It also said it intended to expand the budget carrier’s operations outside France.  As an increasing proportion of established European carriers’ business continues to be taken by budget carriers such as EasyJet and Ryanair, Transavia was introduced by the airline to help it compete and minimise losses. Pilots were not happy with this because Transavia would hire them under local employment terms, resulting in lower pay.  The Franco-Dutch airline – the result of a 2004 merger between Air France and KLM – predicted the strikes, combined with a seasonal dip in fourth-quarter demand, will reduce its €2.3bn earnings target for this year by €500m . “Over and above the effects of the strike, we also predict that the market will remain sluggish in the fourth quarter,” Air France finance director Pierre-Francois Riolacci said. The company added that it intends to adjust investments and cut costs by 2015. However, it said claims of major job cuts by Dutch news reports were unfounded, and that there were “no drastic or emergency measures which need to be declared”.  Share whatsapp Sarah Spickernell Air France-KLM share price opens lower as pilot strikes cut profits in half Tags: NULL Show Comments ▼last_img read more

News / XPO to buy part of Kuehne + Nagel’s UK contract logistics business

first_img As XPO Logistics continues to ponder options to sell parts of its own business, it has returned to the acquisition trail with an agreement to buy part of Kuehne + Nagel’s contract logistics trade in the UK.This morning K+N announced it had entered into a “definitive agreement” to sell the drinks logistics, food services and retail & technology vertical in its UK contract logistics division, part of wide-ranging review of the Switzerland-headquartered freight forwarder’s operations.Although both parties declined to disclose the purchase prices, K+N did say the operations concerned “generated a turnover of approximately Sfr750m ($808m) in 2019 and are supported by 7,500 employees”.Detlef Trefzger, K+N chief executive, explained: “One year ago, we first announced the strategic review of our contract logistics business to improve profitability and focus on our core, scalable solutions. We have now reached a major milestone in this effort, having secured an agreement to sell significant non-core assets in the UK.“With XPO Logistics, we are pleased to have found a good new home for our customers and employees.”However, KN claimed it “remains highly committed to excellent customer solutions and service in the UK across all business units, including contract logistics.“In particular, the company retains the industry verticals aerospace, government and pharma. These are among the group’s scalable leverage areas.” it said.The transaction is subject to customary closing conditions including merger clearance by the competent competition authorities and is expected to close in the second half of the year.In a separate development, XPO Logistics’ UK arm announced last week it had signed a new “long-term partnership agreement with Mercedes-Benz Parts Logistics to manage UK parts distribution”.The contract will see XPO distributing automotive parts to Mercedes-Benz’s UK retail and commercial vehicle dealerships, operating more than 40 daily routes from the manufacturer’s European Logistics Centre in Milton Keynes to XPO’s overnight-delivery depots across the UK. Part of the deal will see XPO acquire 42 new Mercedes-Benz Actros trucks dedicated to serving the contract.Juan Manuel Santiago Mendez, chief executive of Mercedes-Benz Parts Logistics in the UK, said: “Our UK operation keeps consumers and businesses moving – it is responsible for more than 750,000 part numbers.“We believe XPO has the scale, capabilities and expertise required to support our retailers and dealers with reliable distribution. They have designed a comprehensive solution to our high standards, and their technology should enhance network visibility.” By Gavin van Marle 09/03/2020last_img read more

Boost for Arles-Kilcruise as former Dr Crokes player transfers

first_img Facebook WhatsApp Twitter Boost for Arles-Kilcruise as former Dr Crokes player transfers Facebook Previous articleIn Pictures: Portlaoise Golf Club host Friday night musicNext articleRental market is ‘totally out of control’ in Laois Steven Millerhttp://www.laoistoday.ieSteven Miller is owner and managing editor of From Laois, Steven studied Journalism in DCU and has 14 years experience in the media, almost 10 of those in an editorial role. Husband of Emily, father of William and Lillian, he’s happiest when he’s telling stories or kicking a point. WhatsApp Council By Steven Miller – 13th February 2018 Arles-Kilcruise came within a couple of minutes of losing their senior football status last year but they’ll be hoping to put that disappointing season behind them in 2018.They have re-appointed club legend Lar Wall as manager and have also been boosted in the off-season by the transfer of Kerry native PJ Lawlor.Lawlor’s transfer from Dr Crokes to Arles-Kilcruise was recently rubber-stamped and he comes to the club with a decent pedigree having been part of the Kerry side’s run to All Ireland club glory in 2017.He came on as a sub in a number of their games in both the Kerry and Munster final before being struck down by injury.He also started in the league final earlier in the season when he lined out alongside the likes of Kerry stars Colm Cooper, Fionn Fitzgerald and Eoin Brosnan as they got the better of Kieran Donaghy’s Austin Stacks. Laois County Council team up with top chef for online demonstration on tips for reducing food waste Twittercenter_img Pinterest Community In his mid 20s, Lawlor is a cousin of current Arles-Kilcruise players Ciaran and David Lawlor and is a member of An Garda Siochana and now stationed in the locality.Kilcruise will once again play in Division 1B of the league and begin their season with a Kelly Cup against Timahoe this Sunday.They will once again be able to call on Laois players Ross Munnelly and David Conway (who is currently out injured) while Kevin Meaney should be available to them more often now that he has retired from inter-county action.SEE ALSO – Kevin Meaney reflects on career after 11-year spell with Laois Ten Laois based players named on Leinster rugby U-18 girls squad TAGSArles-KilcruiseLaois SFCPJ Lawlor Pinterest Laois County Council create ‘bigger and better’ disability parking spaces to replace ones occupied for outdoor dining RELATED ARTICLESMORE FROM AUTHOR Rugby Home Sport GAA Boost for Arles-Kilcruise as former Dr Crokes player transfers SportGAAGaelic Footballlast_img read more

Songbun Trumps Talent for North Korea’s Athletes

first_img SHARE Songbun Trumps Talent for North Korea’s Athletes Facebook Twitter By Daily NK – 2014.09.08 12:22pm Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak There are signs that North Korea is running into serious difficulties with its corn harvest RELATED ARTICLESMORE FROM AUTHOR News News News South Korea initiated working-level contact with North Korealast month on the 17th because of their athletes and cheering squad’sparticipation in the Asian Games. However, North Korea bowed out of themeeting, citing a problem with the South’s attitude toward thenegotiations, and thus, the talks were closed without any clear settlement.Afterwards, both sides continued detailed discussions aboutissues with the Incheon Asian Games and North Korea’s participation throughwriting. Through this process, the South discovered that there are no issueswith the participation of the North’s athletic delegation to the games.Moving forward, North Korea notified South Korea, on August22nd,  that they will be sending 273 athletes to the games, which will beheld on September 19th, while also alluding to the comprehensive training theathletes are undergoing. Recently,  Kim Jong Eun even went directly to a game to vetmale and female athletes for the soccer teams that will participate in theIncheon Asian Games, showing how invested North Korea is in thecompetition. Daily NK sought to find out how the North Korean nationalathletic team participating in the upcoming Asian Games is organizedand managed, by interviewing a North Korean defector and former member of NorthKorea’s National Physical Education Organization, Mr. Oh Deok Heung [alias,defected in 2008].Daily NK [DNK]: How is the national athletic team that isgoing to participate in the Asian Games organized?Mr. Oh Deok Heung [ODH]: The national athletic team iscomposed of people of the greatest talent and ability and are picked fromdifferent physical education organizations. It is organized with the goal ofparticipating in an international sporting event. The Chosun Committee forPhysical Education selects players one year before the international sportingevent is to take place.After the athletes are selected from theirorganizations, they train, live, and eat together for one year, returning totheir individual organizations after the international sporting event. Becausethe national athletic team can consist of athletes that do all kinds of sportsfrom soccer and boxing to swimming, judo, and archery, they are organized intowhat is called the “National Physical Education Collective”, which is locatedin Pyongyang City in the Pyeongcheon District.DNK: Where does the selection process for the nationalteam’s athletes take place, and which physical education organization are theyselected from?ODH:  The national team’s athletes are selected by theChosun Physical Education Committee. Athletes are mainly selected from the 4.25Physical Education Organization (affiliated with the Ministry of the People’sArmed Forces), the Pyongyang City Physical Education Organization, the Amrok[Yalu] River Physical Education Organization (affiliated with security), theGigwan Physical Education Organization (affiliated with the railways, and theMinistry of Railways), the Wolmido Physical Education Organization (affiliatedwith the guard command), the Chosun Physical Education University’s PhysicalEducation Organization, and the Ocean Physical Education Organization, amongstothers.All of these physical education organizations are inPyongyang City, and they pick the country’s most talented young adults, who arethen systematically educated and trained.DNK: Who coaches the athletes on the national team afterthey have been selected?ODH: The coach comes from the organization where themost athletes were selected. For example, if the female soccer players thatwill participate in the upcoming Asian Games were selected from the GigwanPhysical Education Organization, their coach from the Gigwan Physical EducationOrganization would be the coach that is responsible for the national team. Thecoach would also be responsible for the soccer team’s training until the match.However, the Chosun Physical Education Committee takes care of the generalmanagement of the teams.In 1990, when the chairman of the Physical EducationCommittee, Kim Yoo Soon, became a foreign ambassador, Park Myung Chul took hisplace. Park Myung Chul was famous in the 50s and 60s in Japan’s pro-wrestlingcircles and is the son-in-law of Yeok Do San (also known as Kim Sil Lak). Hegraduated from the Chosun Physical Education University (formerly the PyongyangPhysical Education University), and has been the National Physical EducationCommittee’s director and vice-chairman, as well as the chairman of NorthKorea’s Soccer Association.DNK: Where do the athletes of the national team live?ODH: The athletes sleep and eat at the Changkwangsan Hotel,where they are under military-like regulations and strict control. Their foodis different from the regular physical education teams. They get the best food,including beef, and all their meals are based on a specific diet and caloriecount. You can say that they basically get the best of the best.DNK: Are the athletes’ songbun [family political background and loyalty] investigated?ODH: Of course. If there’s even one relative that is ofquestionable character, they cannot be selected as an athlete for the nationalteam, no matter how talented they are. Also, if they have relatives residingoutside of North Korea, they cannot participate in an international sportingevent. There can be an exception if they have participated in an event beforeand gotten first place, but those kinds of cases are not common.DNK: What kind of benefits do they receive if they get firstplace at an international sporting event?ODH: They don’t give the actual prize money to athletesthat win a gold medal at international sporting events. However, and it canvary depending on what kind of international sporting event it is, but theygive about $5,000 to the first place winners. The actual prize money won at theevent is given directly to North Korea.Jung Sung Ok, the female marathon gold medalist in the 1999IAAF World Championships in Athletics, was given a Mercedes-Benz worth $50,000by Kim Jong Il and was also given the right to reside in Pyongyang City as wellas a house.DNK: Which physical education organization do athletesprefer?ODH: It depends on the individual athlete’s standards andgoals. For example, if an athlete wants to live in Pyongyang, he or she mightwant to join the Gigwan Physical Education Organization. If an athlete wants tobe a professional athlete, he or she would want to join the 4.25 Physical EducationOrganization.The 4.25 Physical Education Organization is of a highercaliber than other organizations and a trailblazer in its own right. TheOrganization’s director is raising its status by acquiring the newest physicaleducation equipment and facilities. However, competent athletes selected fromrural areas prefer the Gigwan Physical Education Organization because, ifselected, they are given the right to live in Pyongyang City. There are manyfamous athletes from the Gigwan Physical Education Organization.The Gigwan Physical Education Organization, affiliated withthe Ministry of Railways, had such a sharp increase in members that they neededa bigger training field. The field has been newly constructed in the DaedongRiver District in front of the YangKakDo Hotel. The Pyongyang City PhysicalEducation Organization also gives their athletes the right to reside inPyongyang after they have retired. Athletes from the 4.25 Physical EducationOrganization, Amnok [Yalu] River Physical Education Organization and others, return totheir respective hometowns after retirement.DNK: When do athletes from the national team retire, andwhat benefits do they receive?ODH: The retirement age for athletes in physical educationorganizations is 27 or 28. However, if they have great athletic ability, theycontinue their careers until they are about 34. Athletes are given the benefitof attending the university of their choice after retirement. Differentphysical education organizations of different universities secretly compete forthese athletes. If an athlete wants to coach after retiring from thenational team, they must graduate from the Chosun Physical Education Universityto become a national coach. There aren’t many athletes who want to become acoach after retiring and graduating from the Chosun Physical EducationUniversity. This is because during the Kim Jong Il regime, artists werepreferred over athletes, and thus, were more popular. With Kim Jong Eun’sregime, however, it seems like athletes are starting to get more attention. AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] News North Korea tries to accelerate building of walls and fences along border with Chinalast_img read more

Empire Life appoints new CFO

first_img“We are pleased to have an experienced and respected leader like Edward to step into the role of CFO to ensure a smooth transition,” says Mark Sylvia, president and CEO, in a statement.“Edward’s deep knowledge of our business and strategy, and expertise in financial reporting and capital management, including key industry initiatives such as LICAT and IFRS 17, make him a natural choice as we continue to navigate changes in financial reporting in our industry.”Gibson replaces Ron Friesen who is leaving the company. “I would like to acknowledge and thank Ron for his many contributions during his time at Empire Life and wish him all the best”, adds Sylvia. Protecting employees selecting personnel human resources businessman promotion selection new job jirsak/123RF Related news Share this article and your comments with peers on social media CETFA elects new board leader TD getting new head of private wealth, financial planning Kingston, Ont.-based Empire Life Insurance Co. has appointed Edward Gibson as its chief financial officer, the company announced on Thursday.Gibson became senior vice president and chief actuary at Empire Life in June 2008. Throughout his 30-year tenure with the company, he has overseen finance, strategy, actuarial, and risk management functions. PenderFund names new SVP for investments IE Staff Keywords AppointmentsCompanies Empire Life Insurance Co. Facebook LinkedIn Twitterlast_img read more

Bank of Canada further curtailing emergency measures

first_img Regulators aim to root out pandemic-driven liquidity issues Singapore’s financial regulator invests in innovation Fed keeps key rate near zero, sees inflation as ‘transitory’ The changes are being made due to “the continued improvement in the functioning of short-term funding markets and financial markets more generally,” the bank said.In the past couple of months, the Bank of Canada has been scaling back some of the support measures that were initially adopted in response to the Covid-19 crisis.The PMMP program, which was launched in March to support provincial government funding markets, will be discontinued on Nov. 16.Starting Nov. 24, the central bank will shift from automatically buying 10% of Government of Canada treasury bill auctions to buying between zero and 10%.“While the intent will be to minimize the bank’s participation over time, purchase amounts will vary depending on different factors, including prevailing market conditions and balance sheet requirements,” it said.Finally, the bank said it has revised the terms and conditions for the standing term liquidity facility (STLF) to include terms of up to 30 days from the current term of up to 90 days.“The bank will continue to monitor market conditions and remains committed to providing liquidity as required to support the functioning of the Canadian financial system. Any discontinued facilities can be restarted if necessary,” it said. James Langton Keywords Pandemics,  Coronavirus,  Monetary policyCompanies Bank of Canada Citing further improvement in financial market conditions, the Bank of Canada is continuing to pull back liquidity support programs that were adopted in response to the disruptions caused by Covid-19.The central bank announced that it will be scrapping the Provincial Money Market Purchase (PMMP) program, and that it will be scaling back its purchases of Government of Canada treasury bills. close up view of new 100 Canadian dollar banknotes fer737ng/123RF Related news Share this article and your comments with peers on social media Facebook LinkedIn Twitterlast_img read more