ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Jane PannierIn an effort to defend prepaid product consumers, the Consumer Financial Protection Bureau is proposing what it sees as strong, new federal protections. The intent is to provide protections to consumers whether they are sending a payment, swiping a card, or scanning their smartphone. As comments are due 3/23/2015, let’s take a closer look at what the CFPB is proposing.The centerpiece of the proposed rule is a new “Know Before You Owe” disclosure that would provide consumers with information about costs and risks before they purchase the prepaid product. In addition, the proposed rules would limit consumers’ losses when funds are stolen or cards are lost, require issuers to investigate and resolve errors, provide easy access to account information, and impose credit card protections if credit is offered in conjunction with the prepaid account. For financial institutions, this means an expansion of Reg. Z and Reg. E consumer protections to devices and products not previously covered by these regulations.What’s a Prepaid Product?It’s important to begin by looking at the scope of what the CFPB considers a prepaid product. Under the proposed changes, prepaid products include prepaid accounts that are cards, codes, or other devices capable of being loaded with funds by either the consumer or a third party; usable at unaffiliated merchants or for person-to-person transfers; and are not gift cards (or certain other related types of cards). This would include, for example, mobile prepaid accounts that can store funds, as well as payroll cards; certain federal, state, and local government benefit cards; student and financial aid disbursement cards; tax refund cards; and peer-to-peer products. In other words, prepaid products that can be used to make payments, store funds, withdraw cash at ATMs, receive direct deposits, and send funds to other consumers. continue reading »
City can now look forward to another trip to Wembley in a month’s time, where they will face either Chelsea, with Guardiola aiming to add a third major honour to his name in English football, adding to the Premier League and EFL Cup crowns won last season.While challenges for the top flight is second nature for the Citizens these days, they have struggled in the world’s oldest club cup competition. Only once have they gone all the way since the 1960s – in 2010-11 when Yaya Toure scored the only goal of the game in the final against Stoke City.Since then, City have been knocked out by Manchester United in round three, Wigan Athletic in the final, Wigan in the quarter-finals, Middlesbrough in round four, Chelsea in the last 16, Arsenal in the semi-finals and Wigan – again – in round five last season.The good news for Guardiola’s charges is that bogey side Wigan are already out of this season’s competition, but it remains to be seen whether they can end their eight-year hoodoo this time around.Round-three opponents Rotherham United offered little resilience, with the English champions coming out on top 7-0 at the Etihad Stadium, three days before their 9-0 thrashing of Burton.City have won seven matches in a row since back-to-back defeats at the hands of Crystal Palace and Leicester City either side of Christmas, scoring 28 goals during that run. The Citizens have also won their three home FA Cup matches under Guardiola by an aggregate score of 16-2, so not many will give Burnley much hope of pulling off an upset.Having endured a terrible first half to 2018-19, Burnley have won four and drawn one of their last five matches to finally hit form.The Clarets are now up to 16th in the Premier League and three points clear of the drop zone, but Sean Dyche knows that his side are still in a relegation scrap.Last Saturday’s goalless draw at high-flying Watford was a good result on the face of it, though Burnley were wrongly denied a late goal that, had it stood, would have lifted them up to 14th.Dyche can have no complaints with the spirit shown by his players over the past month, with this five-match unbeaten streak following immediately on from a run of one win in 12 matches – nine of those ending in defeat.A cup run would be nice, of course, but the 1914 winners face arguably the toughest test of them all this weekend. In fact, the Clarets are winless in 13 away FA Cup games against Premier League sides since a 1-0 win at Derby County in December 1999.Included in that sequence is a 4-1 loss at the Etihad Stadium 12 months ago in round three, going down to a couple of goals from Aguero and one apiece from Leroy Sane and Bernardo Silva, despite leading in the match with nearly an hour played.Burnley will be keen to avoid a repeat of that scoreline, but their recent history in the FA Cup suggests that anything other than a defeat would be a huge shock.After making an unbeaten start to 2019, however, Dyche’s men do at least make this latest trip to the Etihad Stadium with some momentum on their side. The Premier League takes priority this season, but Burnley have a chance to show that they really have turned a corner by pulling off a big upset.Sheffield Wednesday travel to Stamford Bridge in the FA Cup fourth round on Sunday as they take on Premier League opponents Chelsea. The Owls advanced to the next round courtesy of an Atdhe Nuhiu winner against Luton Town, while the Blues saw off Nottingham Forest in a 2-0 win.Wednesday are unbeaten in two matches coming into the match, while Chelsea lost their most recent Premier League match to London rivals Arsenal.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Having already through the final of the EFL Cup into the last 16 of the Champions League and are hot on Liverpool’s heels in the Premier League, Manchester City will continue their quest for an unprecedented quadruple with a home match against Burnley today in round four of the FA Cup, a competition that has so far eluded Pep GuardiolaPep Guardiola, who has tried his best to play down City’s quadruple hopes, had the luxury of heavily rotating his side on Wednesday evening for the EFL Cup semi-final second leg against Burton Albion, already sitting on a nine-goal lead from the first leg.The Citizens added another goal to their tally thanks to Sergio Aguero’s first-half strike at the Pirelli Stadium, but they never really got out of first gear in what was essentially a friendly match in East Staffordshire.
The Australian government on Thursday raised with India the non-payment of bills to its companies by the Commonwealth Games (CWG) Organising Committee (OC).Australia’s Foreign Minister Kevin Rudd took up the issue with his Indian counterpart S.M. Krishna in Melbourne. Krishna assured Rudd that the matter would be taken up soon.According to reports, some Australian companies have been preparing a lawsuit against the CWG OC over millions of dollars that were allegedly not paid.”It has been brought to my notice and I would go back to India and take it up with the sports ministry,” Krishna said after his meeting with Rudd. He did not give any timeframe for resolving the matter, but the Australian minister expressed satisfaction over the assurance.”We are comfortable about the Indian government’s response… These matters are well in hand,” Rudd said.Referring to the Australian companies, Rudd said the private contractual arrangement made by these companies was a responsibility of the CWG authority. He said the government would work with the companies to ensure that they got their payments.Earlier, the Australian media had reported that events organiser and Sydney Olympics maestro Ric Birch had commissioned a law firm to draw up a multi-million dollar lawsuit against the Delhi Games organisers. The lawsuit would involve at least four of Australia’s biggest major event firms, including his company.According to reports, Australian Commonwealth Games Association CEO Perry Crosswhite said the association was one of the 30 or 40 Games bodies from around the world that had dues pending with the CWG OC.advertisement- With agency inputs
NEW YORK — For the Buffalo Sabres, the 2015-16 season was about laying the foundation for the future.Despite missing the playoffs, the Sabres feel they have attributes which haven’t permeated the organization in years.The Sabres ended on a high note, beating the New York Islanders 4-3 on the night of April 9.Brian Gionta led the way with two goals, including the winner with 2:14 left in overtime.“The last half of the year is how we want to start next year,” Gionta said. “We’re a team that’s grown a bit, matured. Hopefully we can carry that through.”Matt Moulson and Evan Rodrigues also scored for the Sabres, who finished the season with a 35-36-11 record. Linus Ullmark made 21 saves.Scott Mayfield, Alan Quine and John Tavares scored and Christopher Gibson made 22 saves for the Islanders, who are still waiting to learn their playoff opponent.Despite the loss, the Islanders can still clinch third place in the Metropolitan Division. They trail the New York Rangers by one point for third place. The Rangers finished their regular season by beating the Detroit Red Wings, 3-2 on April 9.The Islanders will end their season April 10 at home against Philadelphia in a game rescheduled because of a snowstorm. The Flyers clinched a playoff berth earlier April 9 by beating the Pittsburgh Penguins.Should the Islanders win April 10, they would meet Pittsburgh in the first round. If they lose, they would draw the Atlantic Division champion Florida Panthers.“We haven’t had success against Pittsburgh, and probably should have been 0-and-3 against the Panthers,” said Islanders coach Jack Capuano. New York was 1-2-1 against the Penguins and went 1-1-1 against Florida during the regular season.“I just want to make sure for me and this organization, we do the right thing so whoever we play next week that the guys are healthy going into the playoffs and we give them the best chance. That’s all we can do,” Capuano said.Following two mostly dull periods, the Islanders and Sabres spent the third trading goals.New York tied the game for the second time in the third period on Tavares’ 33rd of the season with 6:26 left in regulation.Until Tavares’ goal, it appeared as if the Sabres were headed for their fourth regulation win in their last five games following Gionta’s 11th goal of the season which snapped a 2-2 tie.Quine’s first NHL goal evened the game at 2-2 2:07 into the third. With the Islanders shorthanded due to Mayfield’s two-minute minor for hooking Moulson, Bracken Kearns set up Quine for the tying tap-in. The assist accounted for Kearns’ first NHL point this season, and his sixth career point in 31 games.“It was good to see a lot of first goals out there,” Capuano said. “Kearns and Quine played well for us.”Quine’s shorthander accounted for the only special teams score in the game. New York was 0-for-1 on the power play, while Buffalo went 0 for 2.The start of the second period was delayed about 10 minutes when the arena lights didn’t come on.Mayfield opened the scoring 2:03 into the second by one-timing a pass from Casey Cizikas for his first NHL goal. Moulson equalized 3:07 later with his eighth of the season, and his third in six games, by tapping a feed from Eichel past Gibson.Eichel, the second overall pick in the 2015 draft, finished his rookie season with 24 goals and 32 assists for 56 ,points in 81 games. Rodrigues’ first NHL goal put the Sabres ahead 2-1 with 2:03 left in the period.“I thought guys came out and played hard, played to win this one and did a real good job right throughout the lineup,” Sabres coach Dan Bylsma said.(DENIS P. GORMAN)TweetPinShare0 Shares
zoomImage Courtesy: MAIB Insufficient anchor cable and an unprepared crew have led to a collision between three ships on the River Humber, according to a report by UK’s Marine Accident Investigation Branch (MAIB).The UK-registered general cargo vessel Celtic Spirit dragged its anchor in heavy weather on the River Humber in the early morning hours of March 1, 2018.The vessel subsequently collided with the research and survey vessel Atlantic Explorer and the 4,100-dwt general cargo vessel Celtic Warrior, which were also at anchor. All three vessels sustained shell plate damage, but there were no injuries and no pollution.Following an investigation into the incident, MAIB concluded that Celtic Spirit dragged its anchor because insufficient anchor cable had been deployed for the tidal range and environmental conditions experienced.The investigation also found that the Celtic Spirit’s watchkeeper did not immediately recognise the ship was dragging its anchor because the anchor position monitoring interval was not appropriate. Additionally, the watchkeeper did not alert Vessel Traffic Services or nearby vessels that his own ship was dragging anchor.Furthermore, Celtic Spirit was unable to manoeuvre quickly because its engines were not on immediate readiness.“The vessel collided with Atlantic Explorer and Celtic Warrior because its crew were unable to arrest the vessel’s drift and, due to the proximity of the vessels, there was insufficient time for them to get out of the way,” MAIB said in the report.“Lack of company guidance meant that there was an inconsistent approach to engine readiness on board sister vessels in the same fleet and class conditions relating to engine readiness while operating with only one anchor were not followed or understood.”
LEAMINGTON, Ont. – Medical marijuana producer Aphria Inc. says it plans to invest $10 million in a company merging two cannabis brands to target the incoming recreational pot market in Canada.Aphria (TSX:APH) says it has committed to a $10-million equity investment in the venture merging luxury marijuana brands Ontario-based Tokyo Smoke and British Columbia-based DOJA Cannabis Company, which is expected to be renamed Hiku Brand Co. Ltd.The Leamington, Ont.-based marijuana company already holds a stake in TS BrandCo Holdings Inc., known as Tokyo Smoke, and last year signed a licensing agreement to produce and ship cannabis with its branding to medical marijuana patients.Aphria chief executive Vic Neufeld says the investment marks the company’s first venture into premium British Columbia cannabis as it anticipates that branding will become an important differentiator in the recreational pot market, with legalization expected next year.DOJA has a production facility in B.C.’s Okanagan Valley and a Culture Cafe information centre in Kelowna, while Tokyo Smoke has six coffee and cannabis accessory shops across Canada and one due to open in Seattle early next year.Aphria says it is also looking to finalize other agreements, pending the approval of a cannabis sales license for DOJA’s wholly-owned subsidiary, including access to West Coast cannabis and Hiku’s retail locations in provinces where private licenses will be granted.
WASHINGTON — The awarding of Amazon’s second headquarters to two affluent localities has fanned intense speculation around a key question: For the winning cities, will the economic payoff prove to be worth the cost?Amazon’s decision will bring to Arlington, Virginia, and the Long Island City section of New York a combined 50,000 jobs and $5 billion in investment over the next two decades. But the influx is sure to swell already-high home prices and apartment rents and could overwhelm public transportation systems. And the two areas combined are providing over $2 billion in subsidies to one of the world’s richest companies — a bounty that many analysts say probably wasn’t necessary to sway Amazon.The decision to bring those jobs, which Amazon says will pay an average of $150,000 a year, to the New York and Washington areas will also exacerbate U.S. regional inequalities, economists say. Such Midwestern cities as Columbus, Ohio, and Indianapolis, Indiana, which made Amazon’s short list, would have helped spread the tech industry’s high-skilled, high-paying jobs more broadly.“It’s ambiguous for the winners, not good for the ‘losers’ and not good at all for the nation,” said Mark Muro, a senior fellow at the Brookings Institution.Still, on the surface, the deal appears to be better than most. Amazon says it’s receiving $1.525 billion in incentives and subsidies from New York state and $573 million from Virginia and Arlington County. That works out to $61,000 in incentives provided to Amazon for each job in Long Island City and roughly $23,000 for each job in Arlington.That compares with a much larger average figure of $658,000 per job for other large deals, said Greg LeRoy, executive director of Good Jobs First, a nonpartisan watchdog group. Taiwanese manufacturer Foxconn, for example, received $4.8 billion in subsidies for a plant in Wisconsin on which it broke ground this year. That deal is expected to bring just 13,000 jobs.Still, Amazon’s total subsidies will likely end up much higher, LeRoy said. Amazon said it will also apply for existing incentive programs that could add nearly $1 billion to the subsidies from New York.And Amazon’s final selections suggest that all the subsidies and giveaways probably weren’t needed, other economists said. Other state and local governments offered a lot more, including at least $8.5 billion on behalf of Montgomery County, Maryland, and $7 billion for Newark, New Jersey.“If Amazon was pursuing subsidies, it made the wrong decision,” said Michael Ferren, a research fellow at George Mason University’s Mercatus Center. “Even the biggest subsidies you can imagine really don’t sway these kinds of decisions.”Rather, Amazon’s top priority was having access to a sizable pool of highly skilled employees, Ferren said, and it likely would have chosen the same two locations even without the subsidies.“The only things they’re useful for are the companies that get them and the politicians who get the credit,” he said.Indeed, Jay Carney, an Amazon senior vice-president, acknowledged in an interview on CNN that the company had chosen two locations that offered less in subsidies than others had.“That reflects that talent was really the driving factor for us,” Carney said.Some experts in regional economics suggested that the payoff for the selected cities would go well beyond Amazon’s initial investment. Stephen Fuller, an economist at George Mason University, estimates that the new headquarters in Arlington would generate roughly $1.3 billion in spending each year after the initial construction is complete. That would support nearly 50,000 jobs in the state, Fuller said, in addition to those at Amazon.“It’s really a no-brainer,” Fuller said. “They’re going to pay an enormous amount in real estate taxes and sales taxes.”Fuller also argues that the region is large enough to absorb the influx of new workers.“The region adds 50,000 jobs every year, and no one complains about that,” Fuller said. “They’re not all coming at one time; they’re coming over 15-20 years. It isn’t as overwhelming as people think it’s going to be.”At the same time, Tim Bartik, a senior economist at the Upjohn Institute, cautioned that with unemployment so low in both cities, many of the jobs Amazon will bring will likely go to people who don’t now live in either Arlington or New York. The inflow of those workers could burden schools and transportation systems.A coalition of non-profit groups warned that Amazon’s arrival will likely worsen housing affordability for many lower-income workers in the two cities. Roughly one-third of residents in Washington, D.C., and 40 per cent in New York pay more than 30 per cent of their income on housing, the groups, which include LeRoy’s Good Jobs First, pointed out. The typical rent in Queens, which includes Long Island City, is already $3,000 a month.Some analysts had thought Amazon might follow a trend that other companies have set and add jobs in cities where salaries and housing were often cheaper. A few Wall Street banks, for example, have sent many of their back-office jobs to states far from New York. The auto factories that once filled the Midwest have migrated to the South, where labour unions have held less sway.Instead, Amazon chose to expand its footprint to two places where salaries and home prices are relatively close to those of Seattle, its current sole headquarters city, said Aaron Terrazas, senior economist at the real estate firm Zillow.“These two markets definitely can absorb this kind of employment shock — and they have some time to prepare for it,” he said.___AP Economics Writer Josh Boak contributed to this report.Christopher Rugaber, The Associated Press
New Delhi: The National Company Law Appellate Tribunal Tuesday said it may direct global steel major ArcelorMittal to deposit Rs 42,000 crore bid amount for acquiring Essar Steel in separate accounts during next hearing on April 23. A two-member bench headed by Chairman Justice S J Mukhopadhaya said that ArcelorMittal may have to deposit the money in a separate account either before the NCLAT or NCLT Ahmedabad-bench. The bench also asked ArcelorMittal to file an affidavit before it, detailing the steps to be taken for implementation of the resolution plan of debt ridden Essar Steel. Also Read – Thermal coal import may surpass 200 MT this fiscal”ArcelorMittal India, successful resolution applicant, would file an affidavit for implementation of plan,” the bench said. It further said, “The Appellate Tribunal may direct the successful resolution applicant to deposit money in one or another account in next date of hearing”. The bench also said that original plan approved by NCLT Ahmedabad has to be implemented. The bench also directed the operational creditors and financial creditors of Essar Steel to file a chart next week, detailing their claims approved by resolution professional and CoC. “Financial creditors and operational creditors are allowed to file one page affidavit giving details of their claims approved by RP and its percentage,” it said. Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boostMoreover, it has also asked the Gujarat State Tax department to file an affidavit over its claims. The NCLAT was hearing a batch of petitions filed by operational creditors, Gujarat State Tax department and others. ArcelorMittal’s resolution proposal provides financial creditors Rs 41,987 crore out of their total dues of Rs 49,395 crore. Operational creditors, under the plan, would get just Rs 214 crore against the outstanding of Rs 4,976 crore and are contesting before the NCLAT. Essar Steel owns a 10-million-tonne steel mill at Hazira in Gujarat. This was was among the first 12 cases selected by the Reserve Bank of India to be resolved under the Insolvency and Bankruptcy Code (IBC).
“We do not know a planet like this,” wrote meteorologist Eric Holthaus on Twitter on May 13, 2019 while announcing that the atmospheric concentration of deadly carbon dioxide (CO2) had, for the first time, breached 415 parts per million (ppm). What he didn’t say was that the current levels are inevitable and that the concentration levels will scale further. The world first breached the safe levels of 350 ppm in May 1986, according to US’ National Oceanic and Atmospheric Administration (NOAA). In May 1992, when the Earth Summit saw the formation of the United Nations Framework Convention on Climate Change (UNFCCC), the CO2 level was 359.99 ppm. During the summit, 178 member nations set a target to bring CO2 emissions to 1990 levels by 2000. But the levels reached 371.82 ppm in April 2000. Also Read – Hijacking Bapu’s legacyIn 2014, the atmospheric concentration of CO2 reached 401.78 ppm, breaching the 400 mark — which is 50 ppm more than the safe limit. And last year, the highest levels were recorded in May at 411.24 ppm. The CO2 concentration levels have increased every year since 1986 despite repeated commitments and UNFCCC meets where almost every member nation pledges to cut their emissions. The recent reading on May 12, 2019 found the concentration levels to be at 415 PPM at Mauna Loa Observatory in Hawaii. This shows that the levels are “far higher than at any point in the last 800,000 years, since before the evolution of homo sapiens”. Also Read – The future is here! Unprecedented impact High concentration of CO2 in the atmosphere — primarily caused by humans who continue to burn fossil fuels and chop forests that act as carbon sinks — disrupts the Earth’s natural cooling cycle, trapping heat near the surface and causing global warming. In fact, the world is already 1oCelsius warmer than the pre-industrial levels and breaching 1.5oC limit will have devastating effects. The global consumption of fossil fuels has gone up by 78 per cent in three decades — between 1986 and 2017. India is already 2oC warmer than the pre-industrial levels and the impact of this is clearly felt across the country. India recorded eight major extreme weather events in 1992 which went up to 13 by 2016. In 2018, there were 15 major extreme weather events that killed 1,428 people. Even the recent Fani cyclone in Odisha, which is being compared to the 1999 Super Cyclone, became unpredictable because of climate change. The India Meteorological Department had to revise its prediction nine times. This was primarily due to changing wind systems that are influenced by warming oceans. Since 1970, sea surface temperatures worldwide have gone up by about an average of 0.1°C per decade.(The views expressed are of Down To Earth)
The fleeting public outrage was enough to force the NFL to reconsider its personal conduct policy, but the league hasn’t yet codified many policies. Public pressure to do so, meanwhile, along with the media spotlight, has largely disappeared. In early September, the story of Ray Rice assaulting his then-fiancée in an Atlantic City casino exploded in the media, sparking a debate about how to prevent — and respond to — domestic violence in the NFL and society at large. But why September? The actual assault happened in February, and yet it took almost seven months for media coverage to reach its height, according to a search of Lexis-Nexis.The answer is simple: On Sept. 8, TMZ released the video of the assault, which brought the story back into the news. But even then, our attention spans — perhaps unsurprisingly — are short. Here’s a more detailed look at the media coverage that Rice, as well as the overall issue of domestic violence in the NFL, has received since the beginning of September.For the week following the video’s release, articles mentioning “Ray Rice” averaged about 1,900 per day, according to Lexis-Nexis; articles mentioning both “domestic violence” and “NFL” averaged nearly 1,120 per day. The past week, however, pales in comparison: “Ray Rice” has been written about 37 times per day, and “domestic violence” and “NFL” have been mentioned in 44 articles per day. This is despite news that Rice could be reinstated as soon as next month.Rather, NFL news is back to covering on-the-field events. For example, Google Trends shows news about Peyton Manning has been chugging along at about the same rate (not including the recent surge in coverage of his breaking the career touchdown record) and has overtaken headlines about Rice.