City minister Simon Kirby loses Brexit responsibilities to Treasury peer

City minister Simon Kirby has seen his responsibilities for Brexit handed to Baroness Neville-Rolfe.Kirby was handed the role of economic secretary to the Treasury after the Brexit vote when May came to power. whatsapp Thursday 2 March 2017 5:02 pm whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePensAndPatronThe Women Of The Big Bang Theory Have Changed – This Is Them NowPensAndPatronmylovelymalinois[Pics] Ex-cop dog barks at tree, dad cuts it downmylovelymalinoisTheDailyDayMan Turns A Bus Into A Dream Home, Take A Look InsideTheDailyDayalldelish11 Anxiety Causing Foods To Stay Away FromalldelishOceandrawAfter Her Weight Loss, Celine Dion Confirms What We Knew All AlongOceandrawPower BraceletWhy People Are Using These Feng Shui Bracelets and How They Can Help YouPower BraceletTibgez.comThe last Book of remidies reviews – My BlogTibgez.comMiaw StoreSome acts from your cat may be a sign for alarm. Get to know it nowMiaw StoreSports TellyAt 72 Ric Flair Looks Nothing Like You ImagineSports Telly Mark Sands And with Hammond teaming effectively with Brexit secretary David Davis, they added: “Simon Kirby was about as high on my level of priorities as Jeremy Corbyn.”Read More: UK fintech pushes for its very own “Big Bang” momentNonetheless, shadow City minister Jonathan Reynolds said: “Although the lack of continuity at this point in the process is alarming, frankly we don’t care who it is the government chooses to oversee the process, as long as they can provide some clarity to the financial services sector with at least a rough outline of what the long-term plan for the City will be.“We are aware of institutions who feel forced to relocate some functions abroad now to avoid being confronted with a situation in two years’ time they are completely unprepared for. The government must start providing some answers and guidance.” “It’s difficult to understand how he can continue that role if he doesn’t have that part of the job. He can’t possibly stand up for the City and not have the Brexit part of the portfolio.”Read More: City eyes best possible access to Europe’s Single MarketMultiple Square Mile sources have told City A.M. that the Brighton Kemptown MP had struggled in the role, with one noting that Kirby had “gone down like a bag of cold sick” with industry groups, in particular.“He never seemed switched on in the brief at a time when an awful lot of the sector is very febrile and nervous,” they said.However, they add that the decision will likely have little impact on the City’s future post-Brexit, with chancellor Philip Hammond taking personal responsibility for the sector. City minister Simon Kirby loses Brexit responsibilities to Treasury peer The Treasury has stressed that Kirby’s remit remains the same as his predecessors, with the added Brexit work hived off to commercial secretary Neville-Rolfe.Neville-Rolfe has been described as possessing a “more corporate” mindset than the entrepreneurial Kirby, with officials keen to note her experience as a Tesco executive.Read More: City minister reassures financial sector on Brexit negotiationsA senior Tory backbencher told City A.M. that Kirby had been “thrown in at the deep end” with little experience of the City, adding that the decision may make the City minister’s position untenable.“The most important thing to promote the City at the moment is to fight fire with fire when it comes to places like Paris, who have guys marauding all over London. We need a City minister out there saying what we are going to protect different sectors. Share read more

Read More »

Esure share price soars to record high as it avoids discount rate hit

“Both Esure and Gocompare.com are now positioned to thrive and reach their full potential and we wish the new management team at Gocompare.com well for the future.”What Esure saidChief executive Stuart Vann said:  Why it’s interesting Esure share price soars to record high as it avoids discount rate hit The combined operating ratio was 98.8 per cent, compared with 97.8 per cent the year before.The company said it had made £24.5m from GoCompare before the pair were demerged back in November, up from £20.2m in 2015.Earnings per share rose to 64.6p, up from 29.3p last year, while the company hiked its dividend to 13.5p per share, up from 11.5p per share in 2015.Not surprisingly, shares were up 7.5 per cent at 239.1p in late morning trading – a record high. whatsapp Emma Haslett At the end of last month insurers’ share prices plummeted after the government announced changes meaning the rate at which they discount compensation on personal injury claims was adjusted from 2.5 per cent to minus 0.75 per cent.Shares in Esure rivals Admiral and Direct Line plummeted, but today Esure said it will take a relatively minimal £1m hit.”Our low risk approach to underwriting and conservative reinsurance programme mitigated much of our exposure to the change in the Ogden discount rate and leaves us well placed within the market compared to our peers,” it said.And the company added its conscious uncoupling with GoCompare had left both sides in a strong position. “Since acquiring full control of Gocompare.com in early 2015 the group successfully repositioned the business… The return of Gio Compario reinvigorated Gocompare.com’s marketing proposition; an expense review addressed the cost base; and focus was given to the many opportunities available to Gocompare.com to grow outside of its core markets. In 2016 we have delivered strong growth in premiums and profitability, and have provided more quotes to a wider number of customers through our footprint expansion programme. This gives us great confidence to deliver our ambition of 3 million in-force policies by 2020.We continue to focus on and control carefully our approach to underwriting, underpinned by our enhanced customer contribution modelling. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHabit TribeRanking The Top Most Beautiful Women In The WorldHabit Tribeanymuscle.com15 Symptoms of Diabetes You Shouldn’t Ignoreanymuscle.comtibgez10 Signs & Symptoms of Lewy Body DementiatibgezTopsnewspaper.xyzMost Beautiful Botanical Gardens Around the WorldTopsnewspaper.xyzAmoMediaMan Leaves Wife For Her Sister, Her Revenge Is BrilliantAmoMediaFree HubThe US Built A New Submarine The World Is Afraid OfFree Hubhttps://carammello.comWhat Can Your Fingers Tell About Your True Personality? – Carammellohttps://carammello.comPaws ZillaThe Terrifying Reason Why You Should Never Try To Outrun An Aggressive BearPaws ZillaHealth Care10 Ways You Never Thought to Eat an AvocadoHealth Care whatsapp Share Esure zoomed to the top of the FTSE 250 in late-morning trading after the insurer said it was in “full growth mode”, and added it had avoided taking a hit from changes to discount rate rules. The figures In results posted this morning, Esure said underlying post-tax profits rose 18 per cent to 80.5m in the year to the end of December, with gross written premiums rising 19 per cent  to £655m and in-force premiums rising 8.6 per cent to £2.2m.  Friday 10 March 2017 11:19 am read more

Read More »

Person killed by train on Victoria Line

first_imgMeanwhile the Circle Line and District Line were both running with minor delays to a signal failure at High Street Kensington. More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Person dies after being hit by Victoria Line train Transport for London (TfL) warned commuters there was no service between Walthamstow Central and Seven Sisters while emergency services attended the incident. The incident occurred at Walthamstow Central just after 7.30am. The Victoria Line is part suspended with severe delays this morning, causing severe disruption during rush hour after a person died after being hit by a train. “Officers were called to Walthamstow Underground station at 7.36am this morning following reports of a casualty on the tracks,” they said. “We sent an incident response officer, an advanced paramedic, a medic in a car and an ambulance crew. We also sent our hazardous area response team. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarMisterStoryWoman files for divorce after seeing this photoMisterStoryNext RefinanceThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryNext RefinanceDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily Funny A British Transport Police (BTP) spokesperson said officers were called to the scene at 7.36am but the person was pronounced dead at the scene. A London Ambulance Service spokesperson arrived at the station alongside BTP officers but could not save the person. Friday 5 July 2019 9:20 am Share Joe Curtis “The incident is not being treated as suspicious and a file will be prepared for the coroner.” “We were called at 7:36am today to reports of a person injured at Walthamstow Central Underground Station, E17,” the spokesperson said.center_img Severe delays hit the rest of the line, prompting TfL to urge commuters to change their route to work by taking a bus, Overground train or Greater Anglia service. “Sadly, despite the efforts of medics, a person died at the scene.” It wasn’t just the London Underground suffering delays this morning. whatsapp Victoria Line commuters were hit by a track suspension while other the District Line and Circle Line were delayed A good service was running on the rest of the District Line, though TfL told passengers that London buses and South Western Railway were accepting tickets via any reasonable route. Overground commuters were also affected as TfL worked to remove an obstruction from the track at Queens Road Peckham. As a result there was no service between Surrey Quays and Clapham Junction. Main image credit: Getty “Officers are now working to identify the person and inform their family. “Paramedics also attended but sadly a person was pronounced dead at the scene. whatsapp Delays hit the entire route of the Circle Line while delays affected the District Line between Edgware Road and Wimbledon until around 8.15am.last_img read more

Read More »

Authorities identify remains as woman missing since June

first_imgJuneau | Public SafetyAuthorities identify remains as woman missing since JuneOctober 6, 2017 by Tripp J Crouse, KTOO Share:A missing person flyer for Teri Heuscher was posted at the Under Thunder trailhead off Jennifer Drive in the in June. Heuscher’s remains have been located. (Photo by Quinton Chandler/KTOO)Human remains found Monday near the base of Thunder Mountain are those of a missing Juneau woman.According to a Juneau Police Department news release, the Alaska State Medical Examiner’s Office identified Teri Heuscher, 53, using dental records. She had been missing since June 24.A cause of death has not been determined. The examiner’s preliminary results don’t suggest foul play.A duck hunter found the remains at a campsite near the base of the mountain. According to Juneau Police Lt. David Campbell, police recovered parts of a skull and lower jaw.Heuscher’s family has been notified.Share this story:last_img read more

Read More »

Treasury to refinance war loans to take advantage of low rates

first_img whatsapp whatsapp Share Tags: NULL Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap The UK is to refinance the remaining £1.9bn of the nation’s First World War debt, chancellor George Osborne said yesterday.The Treasury will pay off the outstanding debt from the 3.5 per cent War Loan on 9 March 2015. The 120,000 war loan bond holders will receive a cheque for the value of the bond which the government will finance through borrowing at today’s lower interest rates.The bonds were first issued in 1917 at an interest rate of five per cent. They were changed to a rate of 3.5 per cent by chancellor at the time of Neville Chamberlain in 1932 when the UK found itself in similar economic circumstances to today. “The coupon was lowered in 1932, because you were in a period of low rates and deflation propagated by a fixed exchange rate system in Europe,” economist Richard Batley from Lombard Street Research told City A.M. Chris PapadopoullosChris Papadopoullos was City A.M.’s economics reporter until February 2016. He is an economist at OMFIF. Wednesday 3 December 2014 8:13 pm Treasury to refinance war loans to take advantage of low rates Show Comments ▼last_img read more

Read More »

Paralysis cases could help identify Zika spread, researchers say

first_img Related: What is Guillain-Barré syndrome?Volume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard ShortcutsEnabledDisabledPlay/PauseSPACEIncrease Volume↑Decrease Volume↓Seek Forward→Seek Backward←Captions On/OffcFullscreen/Exit FullscreenfMute/UnmutemSeek %0-9 facebook twitter Email Linkhttps://www.statnews.com/2016/08/31/zika-paralysis-latin-america/?jwsource=clCopied EmbedCopiedLive00:0001:4001:40  By Andrew Joseph Aug. 31, 2016 Reprints @DrewQJoseph [email protected] General Assignment Reporter Andrew covers a range of topics, from addiction to public health to genetics. Zika virus is associated with a host of medical issues, and in Latin America, health officials are now finding that reported cases of the virus track closely with the onset of a temporary paralysis called Guillain-Barré syndrome.Researchers say that means an increase in GBS could be a signal that Zika is spreading. Zika infection can present in many ways, from nearly no symptoms to full-blown febrile illness. Most people tend toward no symptoms, making the dramatic presentation of GBS a more clear sign of infection.“Reports of the Guillain–Barré syndrome could serve as a sentinel for [Zika] and other neurologic disorders linked to [Zika], including microcephaly,” the researchers wrote Wednesday in the New England Journal of Medicine, referring to the birth defect caused by the virus when it infects pregnant women.advertisement “It is clear that increases in the incidence of the Guillain–Barré syndrome to a level that is 2.0 and 9.8 times as high as baseline, as we have reported here, impose a substantial burden on populations and health services in this region,” wrote the team, made up of researchers from the World Health Organization, the Pan American Health Organization, and individual countries’ health ministries.advertisement About the Author Reprints Tags global healthguillain-barreZika Viruscenter_img HealthParalysis cases could help identify Zika spread, researchers say Scientists link Zika firmly to paralysis, as patients in Tahiti know too well This comes after warnings from scientists studying the relationship between Zika and GBS in Tahiti that Latin American countries needed to prepare for the expensive and extensive care that goes along with GBS. ‘I can’t move’: In Colombia, families cope with creeping paralysis tied to Zika Andrew Joseph The researchers found that nearly 1,500 of the more than 164,000 people with confirmed or suspected Zika infection they surveyed came down with GBS. As the number of Zika infections rose and fell during a one-year period ending in March, so did the numbers of people suffering from the temporary paralysis associated with GBS.According to the World Health Organization, there is a “scientific consensus” that Zika causes GBS.The virus is primarily spread by mosquitoes, but can be transmitted through sex. When it infects pregnant women, it can cause debilitating birth defects in their fetuses. For the new report, officials reporting from six countries — Colombia, the Dominican Republic, El Salvador, Honduras, Suriname, and Venezuela — as well as the state of Bahia in Brazil, found GBS surged during the Zika epidemic, with rates increasing from 100 percent in El Salvador to 877 percent in Venezuela.The researchers also found that the incidence of GBS was 28 percent higher in men than women, which matches what scientists have seen in cases of GBS induced by other infections.Studying the link between Zika and GBS has been challenging because other viral illnesses, including the one caused by closely-related dengue virus, also cause GBS. Distinguishing between the two viruses in tests is difficult. Related:last_img read more

Read More »

Covid-19 vaccine supply is running low. Here’s how Biden hopes to fix that

first_img President Biden MANDEL NGAN/AFP via Getty Image Privacy Policy Tags biotechnologyCoronaviruspublic healthVaccinesWhite House WASHINGTON — The Biden administration is willing to consider almost anything to boost the nation’s dwindling supply of Covid-19 vaccines.A new strategy document released Thursday, totaling nearly 200 pages, offers the first clear list of the options President Biden has before him, though it doesn’t specifically say he’ll actually take all of the steps. On the list are some controversial ideas, like cutting the amount of vaccine being administered to each American. He’s also made it clear he wants to utilize the Defense Production Act to ramp up production of key supplies, and some more straightforward options like buying more doses.Governors and mayors around the country have complained in recent weeks that they do not have enough vaccines to meet current demand. Biden, too, has acknowledged that the supply of physical vaccines is not where it needs to be to vaccinate a majority of Americans. Already, the Trump administration stopped holding vials in reserve, in hopes of releasing more vaccines to the public.advertisement PoliticsCovid-19 vaccine supply is running low. Here’s how Biden hopes to fix that The easiest idea, of purchasing more vaccines, may not be particularly helpful in the short term. The U.S. has already purchased 200 million doses of Pfizer’s vaccine as well as 200 million from Moderna, but the full orders won’t be delivered until the middle of the year. The country has the option to buy hundreds of millions more, but they wouldn’t be delivered until after that.The Biden administration will also “explore” so-called dose-sparing strategies to stretch vaccine supply, the report reveals. When the Trump administration considered one dose sparing strategy, of administering a smaller volume of vaccine to each patient, the Food and Drug Administration balked.advertisement Washington Correspondent Nicholas Florko reports on the the intersection of politics and health policy. He is the author the newsletter “D.C. Diagnosis.” [email protected] It said the idea “is premature and not rooted solidly in the available evidence.”“Without appropriate data supporting such changes in vaccine administration, we run a significant risk of placing public health at risk, undermining the historic vaccination efforts to protect the population from COVID-19,” then-FDA Commissioner Stephen Hahn and the agency’s top vaccine regulator Peter Marks said in a statement. @NicholasFlorko Leave this field empty if you’re human: The Biden administration acknowledged that, saying it will look at dose-sparing “while maintaining a commitment to abiding by FDA recommendations.”The Biden administration also plans to negotiate with existing suppliers of vaccines to reduce minimum shipment sizes. The current minimum order for the Pfizer vaccine is 975 doses, which some rural hospitals have complained would be difficult to use up before the vaccine must be thrown out. Moderna does not have this problem: Its minimum shipment is 100 doses.Biden’s new plan stops short of promising to use the Defense Production Act to order companies to make more physical vaccines, although Biden’s Covid-19 coordinator Jeff Zients recently told the Washington Post that that option is on the table. By Nicholas Florko Jan. 21, 2021 Reprints Related: Please enter a valid email address. Nicholas Florko The 10 Biden officials to watch on the Covid-19 response Newsletters Sign up for Daily Recap A roundup of STAT’s top stories of the day. Instead, the plan foreshadows two uses of the Defense Production Act that the Biden administration believes will increase the availability of vaccines.The first is using the law to produce so-called low dead space needles, which are needed to extract a sixth dose of Pfizer’s vaccine from the vial. The second is to increase the supply of the lipid nanoparticles needed to make all mRNA vaccines — the category that both Pfizer and Moderna’s products fall into.The Biden administration is also pledging to closely supervise the vaccine manufacturing process. Federal officials will be on site at so-called contract manufacturing organizations that make vaccine components like syringes and vials “to monitor and support operations.” About the Author Reprintslast_img read more

Read More »

Polk County paramedic steals vaccines intended for first responders

first_imgPOLK COUNTY, Fla. – A Polk County paramedic was arrested for stealing three vials of the COVID-19 vaccine that were intended to be administered to first responders.Joshua Colon, 31, a paramedic with Polk County Fire Rescue, was assigned three vials for first responders, which contained about 10 doses in each vial, on Jan. 6.According to Polk County Sheriff Grady Judd, the Polk County Fire Battalion Chief had been going through paperwork submitted by Colon for the vaccinations he had administered and noticed discrepancies in three forms. The battalion chief recognized a firefighter’s name on one of the forms and contacted that person to verify information. The person told the battalion chief they had never received the vaccine and was no longer a firefighter. AdvertisementTags: paramedicPolk Countyvaccine theft According to Colon, the vaccines were placed in a plastic bag inside of a sealed special folder. The paramedic claimed the captain told him to take a break, and when he got back, the seal was broken and the vaccines were gone. Sheriff Judd said instead of notifying his superiors, Colon went through the trouble of falsifying the vaccine screening and consent forms that would account for the three vials. The paramedic allegedly went as far as emailing the battalion chief from an account that he made for one of the names on the forms.The sheriff’s office instructed Colon to call the captain, who is currently on his way back from California where he was sent to assist with the response to the COVID-19 pandemic. While on the phone, Colon told Damiano he needed the doses back, so Damiano told him the vaccines were in his car that was parked at a friend’s house in St. Cloud. Polk County deputies, with the assistance of the Osceola County Sheriff’s Office, executed a search warrant on the vehicle and recovered two of the three vials. They still don’t know where one syringe and one vial is. Sheriff Judd said the captain might as well go ahead and turn himself in.“You can run but you can’t hide. You’re going to jail for being a crook, for stealing,” said Judd. “What were you thinking? Did you only have 3 brain cells? I mean, how’s that gonna work? ‘Hey mom, do I give it to you now or do I wait two weeks while it sits in a car in an airport parking lot?’,” the sheriff said.The vaccines are no longer viable.Colon resigned on Monday. Damiano is still an employee with Polk County Fire but according to the chief, that “may change very soon.”Sheriff Judd said Colon was the 2020 Firefighter of the Year and was recognized last month for his involvement in the pandemic, making his recent actions out of character. RELATEDTOPICS Florida pastor helps deputies catch a convicted sex offender June 3, 2021 Deputies spoke with Colon who admitted to falsifying the paperwork. Colon allegedly created fake vaccination forms for three people, two of whom did not actually exist. Colon told deputies that a captain at the station, Anthony Damiano, asked him for a vaccine for his mother, but Colon said no. Damiano allegedly made several requests to the paramedic for the vaccines. AdvertisementPolk County Fire then contacted the sheriff’s office with what they found. Woman, 4-month-old die after car hits train in Florida April 25, 2021center_img Advertisement Polk County deputies search for man who beat Walmart employee June 16, 2021 AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments Florida House decides against Collier to Polk toll road April 28, 2021 Advertisementlast_img read more

Read More »

Biden appoints Harris to oversee southern border coordination amid migrant surge

first_imgAdvertisement Byron Donalds criticizes Biden for terminating Trump-era border policy June 4, 2021 AdvertisementOfficials said Harris would focus her efforts on stemming the current flow of migrants and on developing a larger strategic partnership with Central American countries based on values of respect and shared values.“Starting today the Northern Triangle and Mexico will know there is one senior official dedicated to this effort,” one of the officials said on Wednesday.During her own presidential run, Harris said she would expand the use of deferred action immigration programs and utilize executive actions to remove the threat of deportation of millions of undocumented people in the US if elected president, reported CNN. RELATEDTOPICS Boat with 23 Haitian migrants stopped off Florida coast October 12, 2020 AdvertisementTags: border crisismigrantssouthern border Advertisement AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments WASHINGTON, DC (CNN) – President Biden has assigned Vice President Kamala Harris to oversee efforts with Central American countries to stem the flow of migrants to the US southern border, senior administration officials said on Wednesday.This is the first major issue the president has assigned directly to his No. 2.The assignment mimics Biden’s own efforts in 2014 and 2015, when he was asked by then-President Barack Obama to lead diplomatic efforts in Guatamala, Honduras and El Salvador after a surge of unaccompanied minors from those countries began arriving in the U.S., reported CNN.Migrants are again arriving at the southern border at increased levels. Officials said she would be supported by officials from the Cabinet, including the State Department and USAID, and was likely speak with the leaders of key countries.The-CNN-Wire™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.last_img read more

Read More »

Fintechs to drive transformation rather than disruption for banks: Moody’s

first_img Facebook LinkedIn Twitter TD getting new head of private wealth, financial planning Upstart financial technology firms (fintechs) are expected to disrupt, but not displace, the world’s traditional banks, says report from Moody’s Investors Service published on Wednesday. Share this article and your comments with peers on social media James Langton Rise of fintech includes many future risks, FSB says The rise of fintechs highlights a shift toward digital financial services, but that banks will likely remain at the centre of the industry, alongside these new players, the Moody’s report says. In its report, Moody’s acknowledges that the fintechs have enjoyed a head start in the increasing digitization of financial services, as many traditional banks are still grappling with the effects of the financial crisis, restructuring their businesses, and dealing with weak economic growth and low interest rates. Conversely, fintechs have the advantage of low overhead and operational agility. “Fintechs have had some initial successes, primarily in individual business lines, keeping overhead low and operations nimble. But fintechs have yet to prove their resilience through a range of economic and financial market conditions,” the report says. Moreover, banks are responding to the fintech challenge, and are adopting new technologies to improve the experience of their consumers and to stay competitive. “Many banks are well advanced in developing and implementing their own digital strategies. Others are partnering with fintechs to leverage their models and capabilities, fill product gaps and/or appeal to new customers. And others are directly investing in start-ups and incubating others,” the report says. Banks have several inherent advantages in this competitive struggle, according to the report including: large customer bases; sticky client relationships and much greater financial resources than most fintechs. Additionally, they also have well-developed credit underwriting capabilities, and data that allows them to “better price, tailor and target products and services,” the report says. As well, the so-called millennial generation, which are seen as the primary target market for fintechs, are a few years away from being the primary consumers of financial services, the report notes — giving traditional firms time to adapt and retain their position. It is unlikely that the fintechs are going to overthrow the banks, the report concludes, but it does note that there are several forces that could accelerate the industry’s transformation. “Greater movement toward open data, for instance, could unglue one of banks’ strongest defenses by making it easier to switch financial services providers,” the report says. “A more defined regulatory stance would crystalize, and perhaps change, the rules of engagement. And a killer app or the entrance of one or more Big Tech players, with large customer bases and deep pockets, could quickly shift the financial services landscape.” Photo copyright: rawpixel/123RF Fed plays limited role in assessing climate risks for banks Canadian banks to focus on growth, spending and buybacks after strong second quarter Keywords Banking industry,  Fintech Related newslast_img read more

Read More »