Lloyds Banking Group hires Professor Russel Griggs to oversee its HBOS Reading scandal review

Lloyds vowed shortly after the trial concluded that it would be reconsidering the cases of customers caught up in the scandal in light of the evidence which had been unearthed by the trial.Read more: Lloyds Banking Group has set aside an extra £350m to cover PPI claims A statement from the bank said Griggs had been “selected for his experience in overseeing high profile reviews of a complex nature”.Griggs’ previous work includes chairing the Confederation of British Industry UK small and medium enterprise council between 2007 and 2010 and reviewing of the British Bankers’ Association branch closures programme last year.Read more: Have British banks finally got over the financial crisis? Monday 20 March 2017 2:58 pm whatsapp Lloyds Banking Group hires Professor Russel Griggs to oversee its HBOS Reading scandal review Lloyds added it had already written to most of the customers it had been identified as being harmed by the wrongdoers’ actions. Lloyds share price is currently trading down 0.3 per cent at 69.16p. whatsapp Share Lloyds Banking Group has appointed Professor Russel Griggs to oversee the independent review into the HBOS Reading scandal. Two ex-HBOS bankers were among six people jailed back in February for their roles in a ruse to drive small businesses into the ground for personal gain, running up nearly £250m in losses for the bank which had to be bought out by Lloyds at the height of the financial crisis. Hayley Kirton Read This NextIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamourTop 5 Tips If You’re Losing Your EyebrowsVegamourWhat Causes Hair Loss? Every Trigger ExplainedVegamourSmoking and Hair Loss: Are They Connected?VegamourThis Is How Often You Should Cut Your HairVegamourWant Thicker Hair? Follow These 12 StepsVegamourHow Often Can You Dye Your Hair?VegamourTips & Tricks for Styling Thin HairVegamour16 Foods to Grow Your Healthiest Hair EverVegamour read more

Read More →

It’s time for Theresa May to use her secret Brexit weapon: business

first_img I expected her to take a strong stance on the Chequers-based plan for Brexit and finally call upon her most valuable and underused supporters – business leaders – to champion her vision, not least because I and my business colleagues across industries have been suggesting this for months.She did not make that call. Rather, she missed one of her last chances to take more control of Brexit and channel support for the only plan which can deliver a deal for the UK.Read more: Donald Tusk: No grounds for optimism on Brexit dealSince she became Prime Minister, May has governed with a small team working in silo on the biggest upheaval facing Britain in generations. Her style has been presidential, depriving herself of broad support because she would not trust a big inclusive team.As a result, we see good ideas but poor implementation. Two weeks ago, I was in Birmingham among my fellow Conservatives awaiting Theresa May’s closing conference speech. It’s time for Theresa May to use her secret Brexit weapon: business If she can secure support from the majority of businesses, it will force parliament to move to the centre ground.Indeed, business leaders, as ambassadors who realise the true implications of a cliff-edge Brexit, are the only ones who can champion May’s cause both at home and in Europe – if only she would empower them to do it.Despite public warnings about Brexit from companies across sectors (including Airbus, Amazon, Siemens, and in my sector, the Big Six utility companies and gas producers), no business has yet offered or advocated a workable solution.But faced with an option of a catastrophic no-deal outcome or something based on Chequers, the latter is the undeniable lesser of two evils.May therefore needs to position Chequers to business leaders as a feasible deal, offering us something tangible to support. Share While the Chequers proposal does require some compromises and is no paragon of perfection at this stage, it is the only plan that will ensure Britain does not catapult into a no-deal scenario.But May is simply too insipid to negotiate alone with both Brussels and her own parliament to secure a deal that is best for Britain. Her only option is to build a broad church of support outside Westminster.No matter the internal fighting, as the leader of the party of business, May has always had a secret weapon in the private sector to fall back on. Now is the time to use it.That doesn’t mean initiating toothless consultations with the Confederation of British Industry, British Chambers of Commerce Institute of Directors, and other beloved trade bodies.May needs not just a single business adviser, but dozens in each department – including Number 10. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutWTFactsHe Used To Be Handsome In 81s Now It’s Hard To Look At HimWTFactsHouse CoastPregnant Beggar Was Asking for Help, But Then One Woman Followed HerHouse CoastJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funnycenter_img The stakes couldn’t be higher, and we are fast running out of options. The People’s Vote campaign may be fighting for another referendum, but that is unlikely to come to pass. And if there is no workable deal agreed by December, a General Election would be the only way to save Britain from a catastrophic no-deal Brexit.If May fails to garner enough support to get her deal through parliament, the one thing she can be sure of is prolonged uncertainty and instability – both political and economic.But a compromise could save the day. If the UK accepts the EU’s Irish border backstop, while the EU and national leaders give a formal legal guarantee to indefinitely preserve integrity of the UK borders, Chequers could form the basis of a stable Brexit outcome. The trick will be whipping up enough support for it.Without broad business backing, May is too weak to secure the best Brexit for the British people and economy. She is quickly running out of time to utilise her most powerful asset.Theresa May, business wants you to step up and take on the Prime Minister title for which you so ardently fought. Businesses are ready to back Chequers – why won’t you trust us? The UK’s future depends on it.Read more: Third of firms not planning for Brexit, say internal auditors Alexander Temerko whatsapp whatsapp Wednesday 17 October 2018 8:07 am Tags: Brexit Donald Tusk People Theresa Maylast_img read more

Read More →

Consumers don’t need experts to interpret 23andMe genetic risk reports

first_imgFirst OpinionConsumers don’t need experts to interpret 23andMe genetic risk reports By Anne Wojcicki April 9, 2018 Reprints Privacy Policy Anne Wojcicki I disagree. While doctors and genetic counselors play an important role in delivering health care and health information, I am an advocate for consumers having more direct access to personalized information so they can take charge of their health. Making genetic testing affordable and accessible enables more people to learn important — and potentially lifesaving — information about themselves.advertisement @annewoj23 Related: Forty years ago, when the first at-home pregnancy tests became available, some physicians warned against their use. They thought women might not be able to handle such information on their own and claimed that the results might trigger them to make irrational decisions — some went so far as to claim it would lead to suicides. Looking back, it seems unthinkable that we questioned women’s ability to access this kind of information.My company, 23andMe, recently received FDA authorization for the first ever direct-to-consumer genetic test for an inherited risk for cancer. Specifically, it tests for variants in the BRCA1 and BRCA2 genes known to significantly increase chances of developing breast and ovarian cancer. Historically, access to this type of testing has been gated by insurance companies and couldn’t be obtained without an order from a physician or genetic counselor. Making this kind of test directly available to consumers is a huge milestone in empowering people to be in control of their own health information.I was disappointed to see that some of the initial reaction to this FDA authorization had a similar tone as the early reaction to at-home pregnancy tests. Some critics believe that people can’t handle this kind of information on their own, and that learning about a genetic cancer risk should be conveyed only by medical professionals.advertisement Newsletters Sign up for First Opinion A weekly digest of our opinion column, with insight from industry experts. Adobe We know from our research and the work of others that you don’t have to be an expert to handle genetic health risk information. People do not base rash or ill-informed decisions about their health on it. We also discovered through our research that a number of our customers who learned that they carry potentially harmful BRCA-related genetic variants never knew they were at risk for breast or ovarian cancer and would never have been tested for them through the traditional system. For some of these people, the information they got from a direct-to-consumer genetic test truly saved their lives.As part of the FDA authorization process, 23andMe had to demonstrate that we can deliver genetic risk information to customers in a way they understand. In rigorous studies submitted to the FDA for our previously authorized Genetic Health Risk Reports, which are similar to our BRCA1/BRCA2 report, we demonstrated user comprehension of 90 percent or greater.The BRCA1/BRCA2 report has limitations, and we worked hard to make sure that customers will be able to clearly understand those limitations. We clearly disclose that we do not test for all possible BRCA gene variants and that the test cannot diagnose breast or ovarian cancer. The report also makes it clear that many other factors outside of genetics influence one’s risk for cancer. At-home genetic testing may be convenient, but it isn’t complete Please enter a valid email address. Leave this field empty if you’re human: This 23andMe test looks at just three variants among the thousands of mutations that contribute to cancer risk. These variants are found mostly in people of Ashkenazi Jewish ancestry. But they are the most well-studied BRCA risk variants, and having one of them — no matter one’s ethnicity — could mean an increase of 45 percent to 85 percent in the chance of developing breast or ovarian cancer by the age of 70. Several studies have shown that as many as 50 percent of people with one of these mutations wouldn’t qualify for breast or ovarian cancer screening under current medical guidelines. These people likely would not be prescribed a genetic test, and thus have no real options for learning this information if not for openly accessible consumer genetic testing.Now that the BRCA1/BRCA2 report is available, we know that among our existing customers, several thousand will learn they are carriers of one or more of the variants we test for. Without affordable and direct access to this critical information, many would never know they are at high risk for cancer.I applaud the FDA for recognizing that people want personalized health information about themselves, and that there are responsible ways for making that information accessible. As is the case for at-home pregnancy tests, I believe that years from now we’ll look back and wonder why we questioned that individuals would be able to understand and responsibly act on carefully delivered health information.Anne Wojcicki is the CEO and co-founder of 23andMe. Tags cancergeneticspatients About the Author Reprintslast_img read more

Read More →

Election posters ‘an important part of the democratic process and creating public awareness’

first_img Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory WhatsApp WhatsApp Previous articleAll-New Renault CLIO Launches at Joe Mallon Motors with Renault Carbon RewardsNext articleDeaths in Laois – Tuesday, November 5, 2019 John WhelanJohn Whelan has been a journalist, commentator, columnist, political analyst, campaigner, politician and publisher ever since he was 17. Having been Editor of the Leinster Express, Offaly Express and the Leinster Leader he has also contributed extensively on a number of issues to all of the country’s flagship titles and programmes including the Irish Press, The Irish Independent, the Star, the Sunday Independent, the Sunday Business Post, The Sunday Times and Prime Time. He is founder of Communicate Ireland a PR, public affairs, event management and media services company.He is the author of the popular camping blog, Vanhalla – Camper Heaven. Twitter Home News Council Election posters ‘an important part of the democratic process and creating public… NewsCouncil Facebook Pinterest 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshin TAGSCllr Noel TuohyCllr Padraig FlemingElection postersGeneral ElectionLaois County CouncilPosters Ban Politicians in favour of the continued use of election posters during future campaigns have set out their reasons for doing so in no uncertain terms.The majority of councillors in Laois opposed the latest attempt by Cllr Noel Tuohy to rally support for his proposal to ban election posters in the county.His motion was emphatically defeated on a vote of 12 to 6 – with support coming from Cllrs John Joe Fennelly, Catherine Fitzgerald, John King, Aidan Mullins and Willie Aird. (Cllr Paschal McEvoy did not vote as he was unavoidably absent due to important prior commitments). GAA center_img By John Whelan – 4th November 2019 Twitter Facebook RELATED ARTICLESMORE FROM AUTHOR GAA Here are all of Wednesday’s Laois GAA results Cllr Tuohy argued that the four candidates who had abided by a self-imposed poster ban in last May’s local elections dramatically increased their votes.However, this contention was vehemently disputed by other councillors he cited hard work and strong representation as a more likely explanation for getting more votes.Cllr John King honoured his previous commitment from last year that he would support a ban on the next opportunity, while Cllr Aidan Mullins seconded the proposal.“Election posters no longer serve a useful purpose,” maintained Cllr Mullins, who said they are part of a bigger environmental issue along with plastic spoons and cups and it was important to get that message out there.Cllr James Kelly said he was emphatically against any such poster ban. He reminded members that they had made considerable concessions in the previous elections and abided by requests not to poster in towns or certain parts of towns.“Posters create a public awareness of an election and they add to the occasion and there is no proper universal legislation to govern any ban,” he said.Cllr Aisling Moran was against any ban also. She disagreed that the posters fell into the category of single-use as they are recyclable and reusable. She also felt any ban would put new candidates at a distinct disadvantage compared to established sitting politicians.Cllr Padraig Fleming spoke vehemently against any poster ban. He reminded colleagues that they had no authority or power in the matter in any event; that a ban was unfair to new candidates; that posters were a visible sign of an election and not everyone is on social media.“Elections posters are a good communication tool and it’s easier for a sitting councillor to create awareness. No matter what way we vote here today I will be sticking with them,” he asserted.Cllr Ben Brennan said that he re-used his posters and they are helpful for canvassing as very often people are not at home when you call.Cllr Seamus Mc Donald said that he has been using election posters for up to 50 years and he saw nothing wrong with them, once they are taken down after the election.“Some people are using the same ones for 50 years,” quipped Chairman Willie Aird, the implication that the picture on the poster didn’t always resemble the candidate on the ballot paper any longer.Cllr Tom Mulhall opposed a poster ban but felt that some candidates overdo it by plastering posters on every poll all over towns.Cllr John Joe Fennelly said he was with Noel Tuohy on this issue and had only used about 30 posters in the last election while respecting any requests from tidy towns committees to leave areas poster free.Cllr Thomasina Connell opposed any ban, noting that she was one of four new councillors and that sitting councillors held an advantage at election time. She questioned Cllr Tuohy’s invoking the name of climate activist Greta Thunberg as being excessive.“This is a knee-jerk reaction to climate change, the effect on the environment of posters is minuscule when you thing of the flyers that are used and the use of cars to canvass and that carbon footprint. Are we to canvass on bikes?” she asked.Cllr Paddy Bracken too was opposed to any such ban which he said would put new candidates at a huge disadvantage.“I wouldn’t support it at all, the posters are only up for three weeks and we all abide by the requests from the tidy towns, it’s part of our democracy and a medium to communicate,” he said, although he joked that he would agree with a rule that candidates should have to use a current photo on their posters.“I’d be opposed to any poster ban. I wouldn’t be here only for them, the people look forward to them and we don’t put them up in the towns by request,” observed Cllr Ollie Clooney.Cllr Caroline Dwane-Stanley said she was opposed to the ban as proposed as it was not legally binding.Not going down without a fight, Cllr Tuohy said that he wasn’t just talking about a few posters for a few weeks. He said the posters are made of plastic and are not biodegradable and he was talking about three quarters of a million posters countrywide after every election.“If people want to get noticed or attention they should join the panto or the musical,” he proffered in a return of serve to Cllr Connell.SEE ALSO – No posters, no thanks, we’ll pass here in Laois Election posters ‘an important part of the democratic process and creating public awareness’ Pinterest GAA last_img read more

Read More →

Coronavirus: One new death and 11 new cases as people asked to cancel summer holidays abroad

first_img Previous articleRevised draws made for Leinster U-20 hurling, minor football and minor hurling championshipsNext articleThis day last year: Wild celebrations as Laois hurlers claim Joe McDonagh Cup glory 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. Coronavirus: One new death and 11 new cases as people asked to cancel summer holidays abroad 1,736 people have now died from Coronavirus in Ireland – with one new death reported today.While there has been a total of 11 new cases of Coronavirus have been diagnosed in Ireland today.That means there is now a total of 25,473 confirmed cases of COVID-19 in Ireland.As of midnight Monday 29th June, 429,698 tests have been carried out. Over the past week, 24,607 tests were carried out. 116 tests were positive, giving a positivity rate of 0.5%.Dr. Tony Holohan, Chief Medical Officer, Department of Health, said; “Today marks 6 months since the WHO first received reports of what we now know to be COVID-19.“Since then, there have been 10 million cases and 500,000 deaths reported worldwide.“We know more about this virus and how to limit its spread than we did 6 months ago. It is very important that we keep up the national effort to reduce the impact of this disease in our country.”Dr. Ronan Glynn, Deputy Chief Medical Officer, Department of Health, said; “Each person should risk assess their own environment to inform their personal decisions and actions during this pandemic.“We know how this virus spreads, we know the public health behaviours required to protect ourselves and others, we must continue to be aware of the disease and limit its spread.”CMO on foreign travelChief Medical Officer Dr Tony Holohan has called on people who are planning summer holidays abroad to cancel them.Dr Holohan said public health officials would like them not to travel in their individual interest and in the collective interest.He said: “Think about other people and the risk you might pose even if you (if infected) recover very well, for people who are more vulnerable.”Public Health expert Dr Gabriel Scally said he agreed with Dr Tony Holohan.He said: “The last thing we want is people going off on holiday and then bringing back the virus or find themselves in the midst of a flare-up.”Important information Symptoms of Covid-19 include:CoughShortness of breathFeverBreathing difficulties.Further resources:The HSE: Official advice on the coronavirus in Ireland. This is being updated based on the number of confirmed cases and how the virus spreads in Ireland.The Department of Foreign Affairs: Official advice on where to avoid travelling to. Also a resource for those who are abroad.The World Health Organization (WHO): The UN agency on global public health publishes statements and daily situation reports based on the latest data.European Centre for Disease Prevention and Control (ECDC): The EU agency on the number of cases, deaths and how it’s spreading in Europe.The Johns Hopkins University map: A heat map of the confirmed cases across the world.A helpline for older people who are concerned about the coronavirus has been launched by Alone. The number is 0818 222 024, and it’s open Monday to Friday, 8am-8pm.SEE ALSO – An open letter from LaoisToday: Think local, support local and #LoveLaois as businesses open their doors again By Alan Hartnett – 30th June 2020 Twitter Pinterest WhatsApp WhatsApp Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role Electric Picnic Twitter News Facebook Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival TAGSCoronavirusCovid-19 RELATED ARTICLESMORE FROM AUTHOR Electric Picnic organisers release statement following confirmation of new festival date Pinterest Home News Coronavirus: One new death and 11 new cases as people asked to… News Electric Picnic Facebooklast_img read more

Read More →

No Later Than Early 2008 North’s Nukes Will Be Settled

first_img Analysis & Opinion AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] By Daily NK – 2007.01.22 2:22pm Analysis & Opinion RELATED ARTICLESMORE FROM AUTHOR Tracking the “unidentified yellow substance” being dried out near the Yongbyon Nuclear Center Analysis & Opinion No Later Than Early 2008 North’s Nukes Will Be Settledcenter_img [imText1]Professor Lee Choon Kun (Ehwa Women’s University, Vice President of Center for Free Enterprise) said regarding the current government’s foreign policy “The longevity of the Roh Moo Hyun government’s foreign policy ended last year when North Korea conducted its nuclear experiment” and criticized “We have come to the worst situation possible though the government denies this.”In an interview with the DailyNK on the 19th, Professor Lee who recently presented a book titled “the Realist International Politics” condemned the government “President Roh said ‘Everything else can be set aside as long as the South-North relationship goes well’ and now that North Korea possesses nuclear weapons, consequently Roh Moo Hyun’s foreign policy has failed.”He said “The Roh Moo Hyun government is oblivious of the fact that the North Korean issue is not only an problem for the Korean Peninsula but a world issue” and “The world does not only consist of the Korean Peninsula.” Professor Lee argued that the North’s nuclear issue had to be solved in collaboration with the international community. Using the Roh Moo Hyun governments “autonomy diplomacy” and “autonomy national defense” as an example he said “The most important profits of a country is security, then power, prosperity and prestige” and said “If autonomy or explicitly upholding a policy incurs harm to security, then it is clearly a flawed policy.”Regarding the Sunshine policy, he said “I question whether this policy is suitable to be the national policy” and argued “The belief that North Korea will change according to our desires as we support them economically is simply underestimating the fact that North Korea may have a political organization with respectable power.”Professor Lee said “North Korea is not a country that will be easily changed, though our government claims that the Sunshine policy can change North Korea ‘on the spur of the moment” and reexamined “Isn’t it possible that North Korea counteracted to our Sunshine policy by crafting nukes and becoming a ‘strong nation?’”He said “On the position of strategy, the North Korean government is much more advanced than South Korea” and added “In the international community, North Korea with a greater will to survive is more a realistic than South Korea.”International politics is realism, the South-North relationship must undeniably implement[imText2]The development of North Korea’s nuclear issue “will not transcend the U.S. presidential election and the China Olympics in 2008” Professor Lee prospected and remarked “We will see a rapid development in all issues encompassing North Korea.” “If North Korea’s nuke issue is not resolved by 2008, this means that the Republicans will lose the next U.S. presidential election, and in China’s position, this means that the Olympics will be held yielding a grave international issue that is right in front of its nose” and “(The U.S. and China will make an) attempt to achieve immediate results” he explained. However, he said “The North’s nuclear issue cannot be resolved through the 6 party talks” and “It seems that the members of the talks are viewing the 6 party talks as ‘management’ rather than a ‘resolution’ to the North’s nuclear issue.” He said “Every country works to the advantage of one’s own country but Koreans who seem to think that ‘every country should work for world peace’” and stated “this is only an romantic view of international politics.”Further, he explained “In the realm of international politics, we must remember that threats may occur at anytime” and “This undoubtedly applies to the South-North relationship where each possesses its own sovereignty.” SHARE Analysis & Opinion Is Nuclear Peace with North Korea Possible? Facebook Twitter Pence Cartoon: “KOR-US Karaoke”last_img read more

Read More →

OBSI recommended higher client compensation in 2015

first_img Overall, complaint volumes in 2015 were in line with the previous year, the report says. However, OBSI did see a 21% increase in banking complaints, which was offset by a 14% decline in investment complaints compared with the previous year. In total, OBSI launched 571 investigations in 2015, of which 272 were on the banking side, up from 225 cases in 2014. At the same time, investment cases declined to 298 from 345 in 2014, which was already down notably from the 446 cases that were opened in 2012. The top complaints in the investment cases involve suitability, as well as poor product and fee disclosure, the OBSI report says. In addition, OBSI has seen a rise in complaints involving securities in resources sector firms and received a handful of complaints, most of which involved suitability, from clients of portfolio managers and exempt-market dealers (EMDs), which are now also required to use the dispute-resolution service. On the banking side, the top issues raised in client complaints were fraud (particularly involving debit and credit card products), account collections, mortgage prepayment penalties and service issues. OBSI is currently undergoing an independent review of its operations and practices, which is periodically required. A report detailing the results of the review, and any reform recommendations, is expected later in the spring. Related news James Langton Keywords Dispute resolutionCompanies Ombudsman for Banking Services and Investments OBSI updates terms of reference FCAC to probe banks’ complaints handling processes Share this article and your comments with peers on social media Insurance OmbudService makes western expansion a priority The Ombudsman for Banking Services and Investments (OBSI) recommended $4.7 million in client compensation last year, up slightly from 2014, as its complaint volumes held constant, according to the dispute-resolution service’s annual report, which was published on Wednesday. In particular, OBSI recommended compensation in 35% of the cases it ruled on during the year, upholding 22% of bank complaints and 43% of investment complaints. Just less than $4.7 million in total compensation was recommended during the year, comprised of $4.4 million in investment cases and $300,000 in banking cases. In 2014, OBSI recommended $4.3 million in client compensation. However, firms refused OBSI’s compensation recommendations in six cases, the report notes. Facebook LinkedIn Twitterlast_img read more

Read More →

TSX continues its rise

first_img Facebook LinkedIn Twitter Meanwhile, the S&P 500 gained 13.34 points at 2,259.53 and the Nasdaq composite rose 27.14 points at 5,444.50 for their second straight day of all-time highs. North of the border, Toronto’s S&P/TSX composite index added 17.00 points at 15,312.20. Over the course of six days, it has gained 259.68 points. “Markets seem to have found some momentum post-election,” says Andrew Pyle, a senior wealth adviser and portfolio manager within the wealth management arm of Bank of Nova Scotia in Peterborough, Ont. The gains are expected to be sustainable until the start of 2017, he says, partly due to a revival in oil prices. The January crude oil contract climbed 66 cents to close at US$51.50 per barrel. Earlier in the week on Wednesday, oil prices had briefly dipped below the $50 per barrel mark when it settled at US$49.77. But Pyle says oil prices have bounced back from sub-$50 per barrel prices that held for November. Crude prices are trending upwards on anticipation of this weekend’s meeting between member and non-member nations of Organization of the Petroleum Exporting Countries (OPEC), he says, which is expected to reinforce the production cut agreement recently made. Another factor boosting the markets is strong economic data coming out of the U.S., Pyle adds. There’s also the prevailing belief that U.S. president-elect Donald Trump will implement policies to change the regulation of the financial sector once he takes office in late January, which is driving up share prices in that sector. In reaction to the strong sentiment around equity markets and the rise of the U.S. dollar, gold’s worth continues to weaken, Pyle notes. The February gold contract hit a 10-month low, shedding $10.50 at US$1,161.90 per ounce. Next week’s meeting of the U.S. Federal Reserve Board, where it is widely expected to raise interest rates, will be important for the precious metal commodity, Pyle says. The tone of the Fed’s decision could indicate whether it plans additional hikes next year. If the decision goes as the market believes and the Fed increases interest rates, Pyle says the U.S. dollar could actually pull back a bit – which would be a boost for gold. Elsewhere in commodities, the March copper contract added about two cents at US$2.65 per pound, while the January natural gas contract gained about five cents at US$3.75 per mmBTU. The commodity-sensitive Canadian dollar added 0.06 of a U.S. cent at 75.87 cents US. Share this article and your comments with peers on social media Keywords Marketwatch S&P/TSX composite hits highest close since March on strength of financials sector Aleksandra Sagan center_img TSX gets lift from financials, U.S. markets rise to highest since March Toronto stock market dips on weakness in the energy and financials sectors Major New York stock indices hit a second consecutive day of record highs while the Toronto stock market continued its six-day rise, continuing a post-U.S. election rally. On Wall Street, the Dow Jones industrial average recorded its third consecutive record-breaking day, advancing 142.04 points to 19,756.85. Related newslast_img read more

Read More →

TSX, Wall Street kick off trading week with broad gains

first_imgLinda Nguyen Major stock indices in Canada and the United States finished higher Monday as investors seemed to shrug off a number of emerging geopolitical risks. In Toronto, the S&P/TSX composite index climbed 91.59 points to 15,629.47, helped largely by a 1% jump from the energy sector. Investors were buoyed amid news that OPEC’s most influential member, Saudi Arabia, and non-OPEC member Russia have both said they want to extend oil production cuts through the first quarter of 2018 — in a move the two major producers say would support the market price. The two countries say they plan on meeting with other producers to get them on board with the agreement before the scheduled OPEC meeting May 25 in Vienna. In late November, OPEC agreed to cut production by 1.2 million barrels per day, the first such reduction agreement since 2008. The following month, 11 non-OPEC oil-producing countries pledged to cut another 558,000 bpd, bringing the overall reduction to 1.8 million bpd. The move is an effort by oil producers to boost prices, as crude futures trade around US$50 a barrel, less than half their level from early 2014, though above the low of below US$30 in early 2015. Canadian markets strategist Craig Fehr said this news will help decrease volatility in crude prices. “It looks like there is some stability in oil prices in the near term and it’s going to come from the fact that major producers overseas appear to be committed to trying to prop up prices,” said Fehr, who works at Edward Jones in St. Louis. The June crude contract was up US$1.01 at US$48.85 per barrel, but the June natural gas contract was down eight¢ at US$3.35 per mmBTU. The higher oil price helped the Canadian dollar, which finished 0.39 of a U.S. cent higher to an average value of US73.31¢. Other commodities were also positive as the June gold contract climbed US$2.30 at US$1,230 an ounce and the July copper contract was up US2¢ at US$2.54 a pound. In New York, the Dow Jones industrial average gained 85.33 points to 20,981.94. The broader S&P 500 index added 11.42 points at 2,402.32, while the tech-heavy Nasdaq composite index was ahead 28.44 points to 6,149.67 — both finishing with record closes. Fehr said markets seemed to be ignoring the growing geopolitical risks from a “ransomware” cyberattack that spread to thousands of computers worldwide, to bubbling tensions between the U.S. and North Korea. Instead, investors are continuing to stay focused on fundamentals such as strong corporate earnings growth and economic data. “It’s been a little bit too quiet on the equity front. We’re due for a little more volatility because I don’t think equity markets are going to be willing to ignore these geopolitical risks forever,” he said. “The longer we go without any real drama on the equity markets, the more painful it is going to feel when we do get a pullback.” With files from The Associated Press Keywords Marketwatch Share this article and your comments with peers on social media Toronto stock market dips on weakness in the energy and financials sectorscenter_img S&P/TSX composite hits highest close since March on strength of financials sector TSX gets lift from financials, U.S. markets rise to highest since March Related news Facebook LinkedIn Twitterlast_img read more

Read More →

Business community invited to CU-Boulder’s AeroSpace Ventures Day on April 17

first_imgShare Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: April 10, 2014 Categories:AcademicsScience & TechnologySpaceCampus CommunityNews Headlinescenter_img Members of the business community are invited to attend AeroSpace Ventures Day on April 17 at the University of Colorado Boulder.The all-day event offers aerospace industry technologists, scientists and managers a chance to connect with 24 CU-Boulder faculty members and to learn about technological and scientific advances with applications ranging from human space exploration to climate and weather. Corporate recruiters and hiring managers also are invited to meet with the 140 undergraduate and graduate engineering students who have registered for the event.The event is hosted by CU-Boulder’s AeroSpace Ventures, a collaboration among aerospace-related departments, institutes, centers and their industry partners to create knowledge and develop new technologies specifically focusing on unmanned and autonomous aircraft, small satellites and Earth and space sensors. A registration fee is required.Designed to foster connections and initiate the transition of research results into marketable products and services, AeroSpace Ventures Day is aligned with the state’s recent challenge to industry and academia to leverage federal research dollars to support business opportunities that will grow the state’s economy.A report published in February 2013 by the Brookings Institution called for greater collaboration between industry and academia to improve technology transfer and further capitalize on the strengths of Colorado’s aerospace sector. The report found that the Colorado space economy is a critical driver of economic growth for the state. The industry employs more than 66,000 workers and contributed about $8.7 billion to Colorado’s economy in 2011, representing about 3.8 percent of the state’s private-sector gross domestic product.AeroSpace Ventures Day includes two tracks – one for senior scientists, technologists and managers and another for corporate recruiters and hiring managers. Keynote addresses by Neal Anderson, vice president for technology development at DigitalGlobe and retired Maj. Gen. Jay Lindell, Colorado’s Aerospace and Defense Industry Champion, will be open to all attendees.Attendees may also want to partake in the Colorado Space Business Roundtable Aerospace Exchange the evening of April 17 and the Aerospace Student Projects Symposium on Friday, April 18.Founding corporate partners in CU-Boulder’s AeroSpace Ventures include Ball Aerospace, Blue Canyon Technologies, Braxton Technologies, Lockheed Martin, Sierra Nevada Space Systems, and Surrey Satellite Technologies.More information and online registration is available at http://www.colorado.edu/aerospace/aerospace-ventures-day. Contact: Diane Dimeff, [email protected] Courtney Staufer, 303-492-7190 or 303-834-0483 (mobile)[email protected]last_img read more

Read More →