Treasury Services – Game Towne http://gametowne.com/ Thu, 13 Jan 2022 10:30:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://gametowne.com/wp-content/uploads/2021/06/icon-6-150x150.png Treasury Services – Game Towne http://gametowne.com/ 32 32 Government to meet with Treasury over GP retirement issues https://gametowne.com/government-to-meet-with-treasury-over-gp-retirement-issues/ Thu, 13 Jan 2022 10:14:48 +0000 https://gametowne.com/government-to-meet-with-treasury-over-gp-retirement-issues/ The Department of Health and Social Affairs (DHSC) will meet with the Treasury to “review” the retirement issues for general practitioners, the Minister of Primary Care said. Speaking during a Joint debate on access to GP appointments yesterday Primary Care Minister Maria Caulfield said the DHSC had “discussed” the “issue of general practitioner pensions” and […]]]>

The Department of Health and Social Affairs (DHSC) will meet with the Treasury to “review” the retirement issues for general practitioners, the Minister of Primary Care said.

Speaking during a Joint debate on access to GP appointments yesterday Primary Care Minister Maria Caulfield said the DHSC had “discussed” the “issue of general practitioner pensions” and would “certainly” look at it “further”.

She added: “We are holding a meeting with the Treasury teams to look into this more in depth. [as] there is no doubt that there is a deterrent to remaining in practice.

It came in response to comments from the NHS hospital doctor and Conservative MP for central Suffolk and North Ipswich, Dr Dan Poulter, who told MPs GP pensions are a ‘problem very real which prevents the current workforce from prolonging their careers “.

He said: ‘[GPs] expose themselves to very punitive sanctions in terms of their taxation. Could the minister please commit to solving this problem and raising it with the treasury.

Conservative Barnet MP Theresa Villiers added that the government must “improve to keep the GPs we have”, which “means solving the problem of doctors’ pensions”.

She said: “I know efforts have been made on this, but it is always worrying that it seems that once a doctor has been practicing for many years, he or she may face a big bill of health. taxes for his pensions. ”

“The last thing we should be doing is pushing GPs into early retirement because of punitive pension taxes. We want them to stay in training and not retire.

Pulse asked DHSC at what stage are discussions with Treasury.

The government had already pledged to address the NHS pension issues, but in February it rejected calls to reform the taxation of GP pensions, arguing that the issue had already been resolved.

And in March, the government announced that it had frozen the lifetime allowance for GP pensions until at least 2025/2026.

Prior to the announcement, the BMA warned that such a move, designed to raise taxes, could lead to a “catastrophic exacerbation” of NHS workforce shortages.

More recently, the BMA has repeatedly called on the government to reform pension taxation to prevent doctors from facing large tax bills.

It comes as the BMA took formal steps in November to seek a judicial review of the government’s ‘illegal’ management of NHS pensions.

And the pensions ombudsperson upheld a complaint against Capita and the NHS Business Services Authority (NHS BSA) for “careless” handling of the pension contributions of a doctor who was then hit with a heavy tax bill.

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Newsom expands its offer to clean up camps – CalMatters https://gametowne.com/newsom-expands-its-offer-to-clean-up-camps-calmatters/ Tue, 11 Jan 2022 13:30:00 +0000 https://gametowne.com/newsom-expands-its-offer-to-clean-up-camps-calmatters/ In summary In his budget proposal, Gov. Gavin Newsom underscored his support for cities to end homeless settlements, but acknowledged it was only a bridge to permanent housing. In his January budget proposal to the state legislature, Gov. Gavin Newsom gave a clear message: California must get people off the streets. “I don’t want to […]]]>

In summary

In his budget proposal, Gov. Gavin Newsom underscored his support for cities to end homeless settlements, but acknowledged it was only a bridge to permanent housing.

In his January budget proposal to the state legislature, Gov. Gavin Newsom gave a clear message: California must get people off the streets.

“I don’t want to see people die on the streets anymore and call it compassion,” Newsom said on Monday, retailer his $ 286.4 billion plan. “There is nothing compassionate about someone dying on the street or stepping over someone on the street or on the sidewalks.”

Newsom proposed $ 2 billion to tackle homelessness in California – including $ 1.5 billion to purchase and set up “little houses” and other temporary shelter options, which tend to fall well short of needs and which, he acknowledged, does not would only be a “bridge” to permanent housing with services.

While substantial, the governor’s request is paltry compared to the funding he and the legislature approved last year – $ 12 billion to primarily create homeless housing and residential schools and care facilities, as well as to finance affordable, green-lit housing projects.

“What we are offering this year is extra money to find a bridge to permanent supportive housing, and these are mini-houses, which provide treatment, housing for houses and shelters in the interval, “Newsom said.

The governor predicted that the money would mean 11,000 more beds for homeless people, on top of the 44,000 that will be created with last year’s budget.

“There is nothing compassionate about someone dying on the street or stepping over someone on the street or on the sidewalks.”

govt. Gavin Newsom, discussing his budget proposal on homelessness

The remaining $ 500 million in homelessness dollars would go towards grants to local governments to relocate people living in settlements on wasteland and highway overpasses – a tenfold increase over funding approved l last year and will be distributed this summer.

Demand has so far exceeded supply, according to the agency responsible for reviewing grant applications: On January 6, the state agency for business, consumer services and housing reported that ‘she had received requests for $ 120 million from more than 26 cities and 10 counties.

Christopher Martin, legislative counsel for California Housing, deplored the lack of funds to move homeless people more quickly to existing housing.

“There isn’t a penny here that goes towards rent assistance or permanent housing,” he said. “Building shelters and treatment beds takes time. It will take years. These people are grappling with the elements today.

However, housing subsidies to keep people housed in their homes are also running out. The state has received requests for relief totaling $ 6.8 billion, according to its dashboard, but received $ 5.2 billion from the federal government, about half of which administer local jurisdictions.

The agency had previously expressed confidence that the need would be met by another round of federal funding, but in response to California’s request for $ 1.9 billion from the US Treasury Department, the state did not receive as $ 62 million on Friday, Newsom said.

“And so, for the purposes of this budget, we seek to continue to engage directly with the Treasury, the Biden administration, as we have been, and directly with legislative leaders,” he added.

Housing and climate change

Newsom’s plan to tackle California’s housing crisis totals an additional $ 2 billion and prioritizes state climate goals.

“I just want to strengthen, to some extent… move away from housing investments that don’t focus on climate, health, integration of downtown schools, jobs, parks and restaurants.” , Newsom said.

This includes around $ 800 million in grants to develop units and the infrastructure that surrounds them primarily in city centers, “in this space away from urban sprawl,” the governor said. The idea is to avoid building in areas prone to forest fires and to avoid greenhouse gas emissions resulting from long commutes.

Of that money, Newsom wants to set aside $ 100 million to help offset the high costs that make it difficult to turn old offices and other buildings into apartments – a practice found by UC Berkeley’s Terner Center is most common in Los Angeles. In addition to prioritizing downtown buildings, the grant helps meet the state’s climate goals by slash the main culprit in construction waste: demolition. The remaining $ 100 million would be used to finance affordable housing on surplus land already owned by the state.

The other billion dollars of Newsom’s housing budget is more specifically earmarked for affordable housing for the poor, with $ 500 million earmarked for the largest source of developer funding to build subsidized housing, the tax credit for housing for low-income people. The remaining $ 500 million is divided into several measures, including $ 200 million to preserve the deterioration of affordable housing in downtown areas and $ 100 million to rehabilitate mobile home parks.

Matt Schwartz, president and CEO of the nonprofit California Housing Partnership, said he applauds the new “short-term investments” the money will not be enough to build the $ 1.2 million. housing that his group believes the state needs by 2030.

“It’s time for the governor and heads of state to move beyond proposing another year of short-term aid and instead commit to a long-term plan with investments. supported at the scale needed to address homelessness and housing affordability crises and tackle climate change, ”says Schwartz.

The California League of Cities was more positive on Newsom’s plan.

“The proposal takes into account promises made last year by the state to continue investing in housing production, as well as housing coupled with mental health services for the homeless,” said Carolyn Coleman, CEO of the league, in a statement. “These proposed investments are an essential down payment by the state on the long-term financing needed to resolve a crisis that has lasted for decades.”

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Brokerages forecast Atlantic Union Bankshares Co. (NASDAQ: AUB) to post earnings per share of $ 0.68 https://gametowne.com/brokerages-forecast-atlantic-union-bankshares-co-nasdaq-aub-to-post-earnings-per-share-of-0-68/ Sun, 09 Jan 2022 15:14:15 +0000 https://gametowne.com/brokerages-forecast-atlantic-union-bankshares-co-nasdaq-aub-to-post-earnings-per-share-of-0-68/ Stock analysts expect Atlantic Union Bankshares Co. (NASDAQ: AUB) to report earnings of $ 0.68 per share for the current fiscal quarter, Zacks investment research reports. Two analysts provided earnings estimates for Atlantic Union Bankshares, with the highest EPS estimate being $ 0.73 and the lower estimate being $ 0.60. Atlantic Union Bankshares reported earnings […]]]>

Stock analysts expect Atlantic Union Bankshares Co. (NASDAQ: AUB) to report earnings of $ 0.68 per share for the current fiscal quarter, Zacks investment research reports. Two analysts provided earnings estimates for Atlantic Union Bankshares, with the highest EPS estimate being $ 0.73 and the lower estimate being $ 0.60. Atlantic Union Bankshares reported earnings of $ 0.93 per share in the same quarter last year, suggesting a negative year-over-year growth rate of 26.9%. The company is expected to publish its next results before the market opens on Tuesday, January 25.

According to Zacks, analysts predict that Atlantic Union Bankshares will report annual earnings of $ 3.39 per share for the current year, with EPS estimates ranging from $ 3.26 to $ 3.53. For the next fiscal year, analysts predict the company will post earnings of $ 2.72 per share, with EPS estimates ranging from $ 2.50 to $ 2.96. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts who cover Atlantic Union Bankshares.

Atlantic Union Bankshares (NASDAQ: AUB) last released its quarterly results on Sunday, October 24. The company reported earnings per share (EPS) of $ 0.94 for the quarter, beating consensus analysts’ estimates of $ 0.74 by $ 0.20. The company posted revenue of $ 170.59 million for the quarter, compared to a consensus estimate of $ 163.54 million. Atlantic Union Bankshares had a net margin of 37.83% and a return on equity of 11.19%. During the same period of the previous year, the company earned $ 0.74 per share.

AUB has been the subject of several research analyst reports. Piper Sandler upgraded Atlantic Union Bankshares shares from “neutral” to “overweight” and raised her target price for the company from $ 41.00 to $ 42.00 in a report released on Thursday 16 December. Zacks investment research downgraded Atlantic Union Bankshares shares from a “buy” rating to a “custody” rating in a research note on Monday, October 4.

(A d)

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The NASDAQ AUB traded up $ 0.07 on Friday, reaching $ 41.19. 280,125 shares were traded, for an average volume of 331,060. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt ratio of 0.11. Atlantic Union Bankshares has a 32.26 out of 52 week low and a 42.45 out of 52 week high. The company has a market cap of $ 3.12 billion, a PE ratio of 12.19 and a beta of 1. ,30. The company has a 50-day moving average price of $ 36.35 and a 200-day moving average price of $ 36.33.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 26. Investors registered on Friday, November 12 received a dividend of $ 0.28. The ex-dividend date of this dividend was Wednesday, November 10. This represents a dividend of $ 1.12 on an annualized basis and a return of 2.72%. Atlantic Union Bankshares’ payout ratio is 33.14%.

In other news from Atlantic Union Bankshares, director Frederick Blair Wimbush acquired 1,500 shares in a trade that took place on Monday, December 20. The shares were purchased at an average cost of $ 35.82 per share, for a total value of $ 53,730.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.14% of the shares are currently held by company insiders.

Institutional investors have recently increased or reduced their stakes in the company. Advisor Group Holdings Inc. increased its holdings of Atlantic Union Bankshares shares by 16.9% in the second quarter. Advisor Group Holdings Inc. now owns 30,842 shares of the company valued at $ 1,117,000 after acquiring an additional 4,450 shares during the period. Envestnet Asset Management Inc. increased its holdings of Atlantic Union Bankshares shares by 23.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 147,057 shares of the company valued at $ 5,326,000 after acquiring an additional 27,960 shares during the period. Teacher Retirement System of Texas increased its holdings of Atlantic Union Bankshares shares by 17.4% in the second quarter. Teacher Retirement System of Texas now owns 10,376 shares of the company valued at $ 376,000 after acquiring 1,541 additional shares during the period. US Bancorp DE increased its stake in Atlantic Union Bankshares shares by 7.2% in the second quarter. US Bancorp DE now owns 12,536 shares of the company valued at $ 455,000 after acquiring 846 additional shares during the period. Finally, American Century Companies Inc. purchased a new position in Atlantic Union Bankshares shares during the second quarter valued at approximately $ 200,000. 69.59% of the shares are currently held by institutional investors.

Atlantic Union Bankshares Company Profile

Atlantic Union Bankshares Corp. is a bank holding company providing financial services. She specializes in providing community banking services. Its services include audits, savings, loans, credit cards, online and mobile banking, cash management, corporate eBanking and wealth management.

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Treasury: November saw the highest disbursement of rent assistance | California News https://gametowne.com/treasury-november-saw-the-highest-disbursement-of-rent-assistance-california-news/ Sat, 08 Jan 2022 00:43:00 +0000 https://gametowne.com/treasury-november-saw-the-highest-disbursement-of-rent-assistance-california-news/ By MICHAEL CASEY, Associated Press States and towns paid the largest amount of rent assistance to cash-strapped tenants in November since a federal program began, the Treasury Department said in a statement Friday. The $ 2.9 billion donated is the latest sign that the program’s early problems have mostly been resolved and it is now […]]]>

By MICHAEL CASEY, Associated Press

States and towns paid the largest amount of rent assistance to cash-strapped tenants in November since a federal program began, the Treasury Department said in a statement Friday.

The $ 2.9 billion donated is the latest sign that the program’s early problems have mostly been resolved and it is now turning to cash-strapped places.

The latest figures show that $ 17.39 billion has been allocated to help cover rents, allowing the program to pay or allocate $ 30 billion by the end of 2021. So far, it there were over 3.1 million payments.

“We’re just seeing that people have started their programs, made them simpler and more efficient,” said Gene Sperling, who is responsible for overseeing the implementation of the $ 1.9 trillion coronavirus rescue program. President Joe Biden, in an email interview. “A lot of places move quickly and you get a lot of money faster for tenants in need. “

Political cartoons

Diane Yentel, CEO of the National Low Income Housing Coalition, welcomed the acceleration in disbursements.

“The efforts of the Biden administration, advocates, program administrators and others have dramatically improved Emergency Rental Assistance (ERA) programs and increased the pace of ERA distribution, keeping million people in stable housing, ”she said in a statement. “Almost 10 million people in more than 3 million households have benefited from these vital resources. With the rent arrears paid, these families have a clean slate and some housing stability to start the year.

But with the improved results of the $ 46.5 billion program, there are concerns that it may not reach all tenants who need help. The first tranche of the emergency rental assistance fund, known as ERA1, is $ 25 billion and the second, known as ERA2 and intended to be spent over a longer period. , is $ 21.5 billion.

More than 100 recipients, including large programs in states like New York and Texas, reported that they spent almost all of their ERA1 money, the Treasury said.

The problem, Sterling said, is that there isn’t much to reallocate, given that states and cities have pulled out so much money. He estimated that more than $ 1.1 billion would be allocated in the first three rounds of repayment, of which $ 875 million will be transferred from within states, mostly from state-run programs to cities and towns. counties in need.

A dozen states transfer money to communities. Georgia, for example, is transferring $ 50 million to Fulton and DeKalb counties. In Arizona, $ 39 million is transferred from the state to Maricopa County.

“This is a team effort, and we will continue to work with all cities and counties that operate their own programs so that there are no gaps in services for families across the country. ‘Arizona,’ said Tasya Peterson, spokeswoman for the Arizona Department of Economic Security. “This voluntary reallocation to Arizona population centers will help ensure that resources are available to all eligible households, regardless of jurisdiction.”

Several places will get money from a pool of reallocated funds from poorly performing states. California will receive $ 62 million, New Jersey $ 40.8 million, New York $ 27 million, and the District of Columbia $ 17.8 million.

“There won’t be huge amounts of excess funds,” Sterling said. “The reallocation will help but will not fill the gaps in large states like Texas, New York or California which have largely committed their funds and still have significant needs.”

California welcomed the additional funds, but said they fell short of needs. While we appreciate the injection of additional federal resources from the US Treasury, California will need significantly more funds from future federal reallocations in order to continue to meet the needs of low-income California tenants affected by COVID-19 “Business, Lourdes Castro Ramírez, secretary of the Agency for Consumer Services and Housing, said in a statement.

The New York $ 27 million may only fund 2,177 applications, New York State Office of Disability and Temporary Assistance Executive Deputy Commissioner Barbara Guinn said in a filing before state court on Monday. Guinn’s filing in a lawsuit launched by lawyers came days before a state judge ordered New York to reopen its app portal, which closed in November.

Tenant advocacy groups say New York should once again accept the applications, which temporarily offer eviction protections to applicants. But lawyers representing New York have argued that the state should keep the application portal closed to avoid giving future applicants “false hope” due to the lack of available rent assistance funds.

Guinn said it was “not at all clear” whether New York would get more federal funds in March.

The initial roll-out of the federal program was hampered by slow disbursements, with administration officials publicly accusing state and municipal partners of hampering the process with excessive bureaucracy often aimed at preventing fraud.

More recently, the problem was that some parts of the country were spending all their money while others, especially parts of the South, were lagging behind.

Entities that have not committed 65% of their ERA1 money or have an expense ratio of less than 30% as of September 30, based on a Treasury formula, have faced a reallocation of the money. Recipients could avoid losing money if they submit a plan by November 15 showing how they would improve distribution or be able to get their distribution numbers above the 65% or 30% threshold .

The deadline to submit a request for the second round of reallocated funds is January 21. In accordance with the law, the process of reallocation of ERA2 funds will not begin until March 31, 2022.

Associated Press editor Marina Villeneuve contributed to this report from Albany, New York.

Copyright 2022 The Associated press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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UK Treasury closes consultation on BNPL regulation https://gametowne.com/uk-treasury-closes-consultation-on-bnpl-regulation/ Thu, 06 Jan 2022 09:00:52 +0000 https://gametowne.com/uk-treasury-closes-consultation-on-bnpl-regulation/ On January 6, the UK Treasury closed a public consultation on Buy Now, Pay Later (BNPL), with the clear intention of integrating BNPL products into a regulated legal framework. Benefiting from a statutory exemption for short-term non-credit loans, BNPL products are still unregulated in the UK. In short, BNPL products allow consumers to make a […]]]>

On January 6, the UK Treasury closed a public consultation on Buy Now, Pay Later (BNPL), with the clear intention of integrating BNPL products into a regulated legal framework.

Benefiting from a statutory exemption for short-term non-credit loans, BNPL products are still unregulated in the UK.

In short, BNPL products allow consumers to make a purchase, enjoy the good or service, and pay for it later. Refund is where BNPL is different from credit cards – payment is made in equal installments over a specified period of time, usually up to four months, with no interest as long as the consumer pays on time.

However, missing a payment or spreading the cost over a longer period can result in late fees, penalties, or high interest rates. Interest rates are also tied to the borrower’s credit risk – riskier consumers can get a BNPL loan, but at a higher interest rate.

A recent report commissioned by the UK government identified a number of areas of potential harm to consumers if the BNPL market continues to grow, as expected, while remaining unregulated.

As such, this consultation aims to gather information from relevant stakeholders and the public, not to decide whether to regulate or not, as this is most likely to happen, but rather to define the scope of the regulation. regulation and ensure that this measure is proportionate to achieve its main objective of protecting consumers.

Although the initial consultation was conducted by the UK Treasury, if that institution decides that this area needs to be regulated, it will delegate responsibility to the Financial Conduct Authority (FCA), which will set the rules.

Interestingly, any potential regulation on BNPL should be carefully drafted not to include other non-financial organizations that rely on the above-mentioned exemption to offer deferred payment for goods or services, such as health services or gyms.

Based on the questions posed in the consultation document, some of the areas where regulation is likely are:

Business model

There are many questions and concerns about how BNPL works, including the parties involved in transactions, the average number of transactions per consumer, the amount spent per transaction, and new BNPL models that may be developed in the future.

The answers to these questions can offer regulators enough evidence to introduce limits on the amount of transactions that a client could undertake during a certain period of time.

Client education

Questions about the differences between long-term and short-term credit suggest that regulators worry that consumers do not fully understand the differences between the two – or do not understand the potential risks of incurring late payments.

This could prompt regulators to establish new requirements for BNPL companies to inform consumers of potential risks, perhaps adding additional boxes when ordering to ensure the consumer is fully informed.

Contract definitions

Any potential regulation on BNPL may need to draw a legal boundary between the different types of short-term interest-free credit. While there are many similarities between BNPL and other short-term loans, there will likely be a new definition that will determine which regulations they fall under.

This new definition should also include possible modifications to BNPL products, ensuring that new products do not benefit from the legal exemption enjoyed by other short-term interest-free loans.

Advertising

Although BNPL companies must follow certain rules from the UK Advertising Standards Authority, the consultation suggests that BNPL companies may be subject to more stringent rules set by the FCA under the financial promotions scheme.

As this requirement could place an unnecessary burden on traders to seek approvals for promotions of BNPL products, which would ultimately benefit large traders, it is not clear whether this point would be included in the regulation.

Solvency

As BNPL is currently unregulated, there is no obligation to perform credit assessments as part of the onboarding of new clients. However, to protect consumers against high debt levels, new regulations on BNPL are likely to apply current FCA rules on solvency to these agreements.

It’s hard to predict at this point how light or cumbersome the regulation will be, but the responses to this consultation – which could be released in the coming weeks – could give us a clue on the most pressing issues. In any case, regulators should propose new rules in the first half of the year, given the urgency of this issue for the government.

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Woligo Partners With First Fidelity Bank For Banking And Retirement Solutions For The Self-Employed And Small Business Owners https://gametowne.com/woligo-partners-with-first-fidelity-bank-for-banking-and-retirement-solutions-for-the-self-employed-and-small-business-owners/ Tue, 04 Jan 2022 14:33:00 +0000 https://gametowne.com/woligo-partners-with-first-fidelity-bank-for-banking-and-retirement-solutions-for-the-self-employed-and-small-business-owners/ OKLAHOMA CITY, OKLAHOMA, USA, January 4, 2022 /EINPresswire.com/ – Woligo has partnered with First Fidelity Bank, a Cameron Group partner, to offer banking and retirement solutions, including personal checks, corporate checks, individual retirement account options, and retirement plans. health savings. Woligo offers a variety of insurance, benefits, banking and retirement solutions to the self-employed and […]]]>

OKLAHOMA CITY, OKLAHOMA, USA, January 4, 2022 /EINPresswire.com/ – Woligo has partnered with First Fidelity Bank, a Cameron Group partner, to offer banking and retirement solutions, including personal checks, corporate checks, individual retirement account options, and retirement plans. health savings. Woligo offers a variety of insurance, benefits, banking and retirement solutions to the self-employed and small business owners.

“The goal of financial security drives many of the decisions self-employed people make about their purchasing choices. With all of the venture capital-backed InsurTech and FinTech startups out there, clients want the confidence that they are building a relationship with a company that has an established history, ”said Jennifer Dunn, Woligo Venture Manager. “As a Cameron group company, Woligo has the advantage of offering insurance, benefits, banking and retirement options that are supported by our established sister companies. First Fidelity Bank has been a trusted community bank since 1920, and we are delighted to offer banking and retirement solutions through this partnership to our small business clients.

“First Fidelity Bank is delighted to partner with Woligo. We are always looking for ways to provide convenient products and services that will best serve our customers, ”said Lee Symcox, CEO of First Fidelity Bank. “We believe Woligo has an important niche with the backing of a strong bank for over 100 years.”

Self-employed professionals and small business owners can easily apply for personal and professional chequing accounts, an individual retirement account (IRA) and a health savings account (HSA) by going to www.Woligonow.com.

About Woligo
Woligo (WŌ-luh-go = Work-Life-Go) is here for self-employed professionals, small business owners, and anyone else who is the boss of themselves and their business. By partnering with insurance, provident, banking and retirement solutions, we help you regain stability while preserving the freedom and flexibility of your work-life world. We are part of the Cameron group, along with INSURICA, First Fidelity Bank, American Fidelity and other companies.

About First Fidelity Bank
First Fidelity Bank opened in 1920. We are a full service financial institution with tailor-made solutions for commercial and retail clients. Services include deposit accounts, treasury services, loans, investments, and insurance. Based in Oklahoma, we also have branches in Arizona and Colorado.

Rich Datz
CamSolutions
+1 405-345-1241
write us here
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Experts want correct implementation of national chemicals directive https://gametowne.com/experts-want-correct-implementation-of-national-chemicals-directive/ Sun, 02 Jan 2022 12:37:05 +0000 https://gametowne.com/experts-want-correct-implementation-of-national-chemicals-directive/ The government should ensure the proper implementation of the national chemicals directive for the local textile and clothing industry to boost exports, experts said today. They spoke during a discussion on the “Draft National Chemicals Management Guidelines for the Textile and Clothing Industry of Bangladesh” organized by the Ministry of Commerce at Pan Pacific Sonargaon […]]]>

The government should ensure the proper implementation of the national chemicals directive for the local textile and clothing industry to boost exports, experts said today.

They spoke during a discussion on the “Draft National Chemicals Management Guidelines for the Textile and Clothing Industry of Bangladesh” organized by the Ministry of Commerce at Pan Pacific Sonargaon in the capital.

The directive is expected to be implemented successfully, Asif Ashraf, director of the Bangladesh Garment Manufacturers and Exporters Association, said at the event.

Buyers have different requirements to ensure safety, and local garment manufacturers will need to build their chemical management capacity, he said.

Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, on behalf of the German government, is helping the Ministry of Commerce develop the directive.

The directive aims to protect workers from the dangers of chemicals, prevent or reduce the incidence of chemical-induced illnesses and injuries, and improve the protection of the general public and the environment of Bangladesh.

According to the draft directive, the directive would apply to any professional activity in the manufacture of textiles and ready-made clothing in which chemicals are used, regardless of the size of the economic activity.


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Wall Street ends tumultuous year near records https://gametowne.com/wall-street-ends-tumultuous-year-near-records/ Fri, 31 Dec 2021 21:00:00 +0000 https://gametowne.com/wall-street-ends-tumultuous-year-near-records/ NEW YORK, Dec.31 (Reuters) – Wall Street closed near an all-time high in light trading on Friday, the last trading day of 2021, marking the second year of recovery from a global pandemic. The three major U.S. stock indexes posted monthly, quarterly and annual gains, their strongest three-year gains since 1999. Businesses, consumers, and the […]]]>

NEW YORK, Dec.31 (Reuters) – Wall Street closed near an all-time high in light trading on Friday, the last trading day of 2021, marking the second year of recovery from a global pandemic.

The three major U.S. stock indexes posted monthly, quarterly and annual gains, their strongest three-year gains since 1999.

Businesses, consumers, and the economy at large greatly prospered in 2021 as they progressed through an ever-changing landscape, including a tumultuous transfer of power marked by the January 6 riot on Capitol Hill. Other factors included the phenomenon of the ‘stock of memes’, new variants of COVID-19, a labor shortage, generous fiscal / monetary stimulus, hampered supply chains, demand for boom and the resulting price spikes.

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“What strikes us this year among all the negatives is the resilience of Corporate America,” said Ryan Detrick, chief market strategist at LPL Financial in Charlotte, North Carolina. “In a sea of ​​uncertainty and higher prices, you must be hugely impressed with the agility and adaptability of US businesses to post 45% profit growth in a very difficult year.”

Indeed, the results of S&P 500 companies exceeded analysts’ estimates to generate year-on-year growth in the first three quarters of the year of 52.8%, 96.3% and 42.6%, respectively. , according to Refinitiv, which currently sees fourth quarter annual profit growth of 22.3%.

Energy (.SPNY), real estate (.SPLRCR) and microchips (.SOX), sectors associated with the economic recovery and growing demand, were among the top performers of 2021, while stocks of growth (.IGX) progressing by 31% easily outperforming 22%. value-added actions (.IVX).

Market-leading tech stocks and tech-adjacent mega-caps, which outperformed the broader market in the first year of the global health crisis, lagged as the economy rolled slowly and vaccines were released. deployed.

The NYSE FANG + Index (.NYFANG), an equally-weighted group of 10 such stocks, rose nearly 20% over the year. Google’s parent company, Alphabet Inc (GOOGL.O) recorded the strongest annual growth among NYSE FANG + constituents, achieving its best year since 2009.

Dow Transports (.DJT), considered by many to be a barometer of economic health, recorded an annual gain of more than 31%.

Steadily rising Treasury yields – along with a recent hawkish turn by the Federal Reserve, which is now forecasting up to three rate hikes in the coming year – have supported interest-sensitive financials ( .SPSY) which gained nearly 33%.

The COVID-19 pandemic, which erupted in early 2020 and caused the steepest and fastest economic contraction in history, continues to linger, putting pressure on travel-related inventories.

The S&P 1500 Airlines Index (.SPCOMAIR) ended 2021 as one of the few losing sectors of the year with an annual decline of almost 2%.

But early data suggests the Omicron variant, which has caused a sharp spike in global infections, is less virulent than its predecessors, and economic data increasingly suggests a return to normal, two years after the first cases of COVID-19 have been reported.

According to preliminary data, the S&P 500 (.SPX) lost 12.63 points, or 0.26%, to finish at 4,766.10 points, while the Nasdaq Composite (.IXIC) lost 94.93 points, or 0.60%, to 15,646.63. The Dow Jones Industrial Average (.DJI) lost 63.07 points, or 0.17%, to 36,335.01.

Of the top 11 sectors in the S&P 500, real estate (.SPLRCR) was the last higher in Friday’s session, with communications services (.SPLRCL) suffering the largest percentage decline.

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Reporting by Stephen Culp in New York and Echo Wang in Taos, New Mexico; Additional reporting by Medha Singh in Bangalore Editing by Matthew Lewis and Lisa Shumaker

Our standards: Thomson Reuters Trust Principles.


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U.S. Treasury yields fall as omicron impact on growth is assessed https://gametowne.com/u-s-treasury-yields-fall-as-omicron-impact-on-growth-is-assessed/ Tue, 28 Dec 2021 10:05:50 +0000 https://gametowne.com/u-s-treasury-yields-fall-as-omicron-impact-on-growth-is-assessed/ U.S. Treasury yields fell on Tuesday after the long holiday weekend as investors assessed the omicron threat. The benchmark 10-year T-bill yield had fallen nearly a basis point to 1.472% by 4 a.m. ET, while the yield on the 30-year T-bill fell by about a half. basis point at 1.88%. Yields move in the opposite […]]]>

U.S. Treasury yields fell on Tuesday after the long holiday weekend as investors assessed the omicron threat.

The benchmark 10-year T-bill yield had fallen nearly a basis point to 1.472% by 4 a.m. ET, while the yield on the 30-year T-bill fell by about a half. basis point at 1.88%. Yields move in the opposite direction of prices and 1 basis point equals 0.01%.

Bond markets were closed on Friday December 24 for the Christmas holidays but reopened on Monday. Investors have been encouraged by positive news regarding the omicron Covid variant.

A study from South Africa, published last week, found that people infected with the omicron variant of the coronavirus were 80% less likely to be admitted to hospital than if they contracted other strains. Studies in Scotland and England appear to support South Africa’s findings.

U.S. infectious disease expert Dr Anthony Fauci said on Sunday that Covid-19 cases are expected to continue to rise as the omicron variant spreads rapidly across the world.

“Every day it goes up and up. The last weekly average was around 150,000 and it will probably increase a lot more,” Fauci told ABC’s “This Week”.

The United States has reported more than 52 million cases, according to Johns Hopkins University. The omicron variant, which became the dominant strain earlier this month, is behind the surge.

A series of economic data last Thursday showed a stable economy with improving labor and spending trends, but inflation remains high.

Data released Tuesday includes the S&P CoreLogic Case-Shiller National Home Price Index for October, the Richmond Fed survey for December and the Dallas Fed’s service activity data for that month.

—Matt Clinch and Jessica Bursztynsky of CNBC contributed to this article.


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What does this mean to you ? https://gametowne.com/what-does-this-mean-to-you/ Sun, 26 Dec 2021 16:55:00 +0000 https://gametowne.com/what-does-this-mean-to-you/ DJI, the world’s largest commercial drone maker, was placed on the investment block list by the US government as of Tuesday, December 21, 2021. This means that Americans and US entities can no longer buy or sell aircraft. ‘DJI shares. What will this news mean for corporate customers and the commercial drone industry? Will you […]]]>

DJI, the world’s largest commercial drone maker, was placed on the investment block list by the US government as of Tuesday, December 21, 2021. This means that Americans and US entities can no longer buy or sell aircraft. ‘DJI shares.

What will this news mean for corporate customers and the commercial drone industry? Will you still be able to buy and import DJI drones?

More American investment


burn hundred dollar bills

In addition to DJI, the latest decision from Washington DC affects seven other large Chinese companies judged by the US Department of the Treasury as part of the Chinese military-industrial complex. According to their press release, these companies play an active role in systemic surveillance and abuse against Uyghur Muslims and other minorities.

“Today’s action highlights how private companies in China’s defense and surveillance technology sectors are actively cooperating with government efforts to suppress members of ethnic and religious minority groups,” said the Minister. Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “The Treasury remains committed to ensuring that the US financial system and US investors do not support these activities.”

Key DJI investors include Sequoia Capital China and Kleiner Perkins. Since Sequoia Capital China is a company registered in China and based in Beijing, it is not affected by the sanction. However, the move would impact Silicon Valley-based investment giant Kleiner Perkins.

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Related: Drone Restrictions: What Are They & What Do They Mean?

Broadening of US sanctions


the White House

In 2020, the United States added DJI and several other Chinese tech companies to the U.S. Department of Commerce’s list of entities, preventing them from purchasing unlicensed U.S. products or technologies.

This move ensures that American technology does not help build the army of an increasingly belligerent adversary. According to former Commerce Secretary Wilbur Ross, the restrictions are necessary measures so that China cannot take advantage of advanced American technology to support its military activities.

the US Department of Commerce The press release said items necessary for the production of advanced 10nm and smaller semiconductors are likely to be refused for export. It could also mean that companies on this list cannot purchase chips with this technology.

Development impact


a parked DJI drone

The addition of DJI to the list of entities affected their operations and development. After all, their products use products and services from several US companies. These include Amazon Web Services, Texas Instruments, Intel, FLIR, Apple, and Google.

This new expansion, where the company cannot use US money for any purpose, will severely limit its future growth.

New technologies

However, despite the 2020 ban, DJI went ahead and continued with the release of new products. In the second half of 2021, the company released the latest version of its popular Mavic Series drone. They also created the new and revolutionary DJI Ronin 4D Cinematic Camera.

Since the company hasn’t made any further announcements, we can only look ahead and anticipate what 2022 and beyond has in store for their drone and camera products.

Declining market share


inverted crashed drone on the sidewalk
Image Credit: Bill Morrow /Flickr

According to the research firm DroneAnalyst, a significant change in the drone market has been the declining commercial market share of DJI. In 2020, it captured 69% of the market. But in 2021, that figure fell to 54%. While DJI still holds the majority, this drastic 15-point drop could be a harbinger of bad news.

This drop is accompanied by significant growth in spending related to drone programs, which means that DJI is losing sales compared to its competitors.

Limited sales

Until these sanctions are lifted, DJI could lose future sales, especially to the United States and its allies. This is because companies are reluctant to invest thousands of dollars in DJI products, knowing that the government could reduce their support at any time.


There is also the suspicion that DJI is secretly collecting data on its customers. And with Chinese law that requires Chinese companies to hand over information at the request of the government, it further increases concerns about data privacy and security.

Related: How To Stop Drones From Infringing Your Privacy

Can you still buy DJI drones?

Despite the adversity that DJI is currently facing, they are still the clear leader in consumer drones, holding over 94% of the market. Until the United States completely ban the company like it did with Huawei, the general public can expect the availability of the company’s Mavic, FPV, and Phantom drones, as well as its Osmo and RoboMaster.

Since these drones are typically not used for vital public services or sensitive security applications, the government has little reason to ban them. So, if you want to buy a DJI drone for personal or creative use, you can still do so for the foreseeable future.


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