Check through Basel III’s small print

first_img Tags: NULL Show Comments ▼ Share Check through Basel III’s small print KCS-content BANKS around the world are rightly cheerful after the announcement of Basel III minimum capital requirements less stringent than many had feared and, in the UK, still far lower than major banks’ existing capital reserves. The inevitable gasp of relief following this news has brought an immediate uplift for most, but should not divert attention from the uncertainties that lie ahead.The Basel committee’s work is not finished yet. There is another meeting scheduled for September 21-22, with the possibility of further talks in October. The package will then be placed before G20 leaders in Seoul this November. Even after that, the extended period over which adjustment to the new standards will take place means that they will not be implemented in full until 1 January 2019. With plenty of room for further political horsetrading, and some critical sections still to be settled, close attention needs to be paid to Basel’s exact wording to assess its likely impact.Crucially, the treatment of banks judged systemically important will be more stringent than the standards already announced. The big four UK banks – HSBC, Barclays, RBS and Lloyds – will have to meet the higher standards. The Bank of International Settlements (BIS) announced yesterday that this “could include combinations of capital surcharges, contingent capital and bail-in debt”. More worrying still, the BIS says a further counter-cyclical buffer of up to 2.5 per cent of common equity is to be implemented “according to national circumstances”. Analyst Nic Clarke at Charles Stanley Research suggests that this supposed global regime could in practice be applied differently from one country to another: “it does seem as though German banks are already being treated differently regarding certain sources of capital”. The Swiss announcement that they will demand a higher standard than Basel III only adds to the confusion. The new global rules may yet produce the kind of regulatory arbitrage they are designed to avoid. That will not necessarily play out to the UK’s advantage.Meanwhile, UK banks need to check their capital reserves meet the detail of the standards announced today. If the rules do indeed require pension deficits to be excluded from the calculation of capital reserves, the big banks look far less comfortable. The banks’ deficits are in the region of £3bn each. According to LCP’s Accounting for Pensions 2010, at RBS the 2009 pension deficit was £2.9bn. With Basel III, the devil may yet be in the details.IMPACT OF BASEL III ACROSS THE WORLDUK bank stocks rose yesterday, with the extended period to comply with the Basel III requirements benefiting state-backed Lloyds Banking Group and RBS the most. The two banks gained 2.6 and 2.3 per cent respectively. Analysts say all the main UK banks are well above the minimum core Tier One ratios. But given concerns about the outlook for the economy, analysts are cautious on the outlook for UK banks.European banks predicted to gain from the longer transition period were some of the top gainers with Credit Agricole up 6 per cent. Europe is seen as the most likely region for banks to need to raise funds to meet the core capital ratio, especially in Germany and Spain. Swiss regulators said they might impose stricter requirements, with an extra buffer of core Tier One in banks’ capital adequacy ratios.US bank shares rose 2.6 per cent yesterday after executives and analysts dismissed the impact from Basel III. JPMorgan rose 3.7 per cent while Bank of America-Merrill Lynch jumped 2.8 per cent. Most of the largest institutions are unlikely to need to resort to any near-term capital raises. But the rules will force many regional banks to replace portions of their capital funded by hybrid securities with common equity.Asian banks are already seen as well positioned to meet the Basel III requirements thanks to their strong capital positions and ample liquidity. Macquarie analysts estimate Japanese banks’ common equity ratio to be 6.3 per cent, just shy of the 7 per cent demanded by Basel III. Mizuho Financial Group rose as much as 2 per cent and Mitsubishi UFJ Financial Group increased as much as 3 per cent. whatsapp Monday 13 September 2010 8:54 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Ads whatsapplast_img read more

Read More →

BEST OF THE BROKERS

first_imgThursday 3 February 2011 7:19 pm BEST OF THE BROKERS whatsapp Share Show Comments ▼ IG GROUPInvestec rates the trading and betting firm “buy” with a target price of 625p. The broker believes that a return to volatility and continued growth in the UK and abroad could lead to material upgrades to its forecasts, despite a small downgrade due to a drop in Japanese business. Investec predicts revenues of £332.5m in 2011, with earnings per share of around 33.2p.TRAVIS PERKINSMorgan Stanley has downgraded the builders’ merchant to “equal-weight” with a target price of £12.50 due to increasing concern over UK consumer spending. The broker warns that there are few short-term catalysts for the firm’s sales, and has cut its forecasts by seven to 11 per cent. Morgan Stanley recommends buying Wolseley shares instead, due to its greater geographical diversity.LEGAL & GENERALPanmure Gordon rates the financial services firm “buy” with an increased target price of 130p. It believes the impact of L&G’s capital restructuring in the US will be relatively small compared to the amount of surplus capital the firm has, resulting in the shares initially suffering from some market disappointment. Panmure however sees an improving macro environment for the sector and trading prospects for L&G this year. KCS-content center_img whatsapp Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition More From Our Partners Kansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.com last_img read more

Read More →

HeiQ shares: why I might buy this soaring stock for my ISA

first_img I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Simply click below to discover how you can take advantage of this. Roland Head has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Roland Head | Saturday, 9th January, 2021 | More on: HEIQ Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Last year saw vaccine stocks soar as pharma companies raced to be the first to deliver a working Covid-19 vaccination. In 2021, I think we could see similar strong growth from businesses with products that can help us get back to normal life. I reckon that newly listed textile firm HeiQ (LSE: HEIQ) could be one such share.Since it joined the London market in December, HeiQ’s share price has already risen by 70%.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…What does it do?HeiQ appears to have timed its entrance well. The firm’s specialty is treating textiles to make them more functional. This can mean adding an antiviral treatment or making fabrics breathable, water repellent, and odour-free. The company even promises to provide “air purifying” sofas and curtains.Existing customers mostly seem to be in the clothing sector — names such as Sloggi, Speedo, Patagonia, The North Face, and New Balance were mentioned in a recent presentation.However, I don’t think it’s too hard to imagine much broader demand in the future for products such as HeiQ Viroblock, which is said to be a “world leading” antimicrobial technology. For example, HeiQ already offers antiviral treatment for aircraft interiors, but I could see this extending to other forms of public transport and the hospitality sector.Does it make money?A good story is always exciting, but I don’t buy shares in loss-making start-ups. The risks are too high for my style of investing. Luckily, HeiQ has been in business for 15 years and is already profitable.According to figures provided by the company when it joined the stock market, annual sales rose from $21m in 2017 to $28m in 2019. 2020 saw a massive surge in growth, with half-year sales of $30m.HeiQ’s operating profit rose to almost $11m during the first half of last year. This suggests an operating profit margin of more than 30% — an impressive figure.I’m not sure if this level of profitability can be maintained or if this includes one-off gains relating to the pandemic — for example, PPE sales. However, even if we assume that profits flatten out this year, the stock’s valuation doesn’t seem outrageous to me. I estimate that HeiQ’s share price of 210p might value the stock on about 17 times earnings. I don’t think that’s excessive for a profitable growth stock.HeiQ shares: my verdictHeiQ is still below the radar for most private investors. But if the firm can deliver on its potential and maintain recent growth, I think we could be hearing a lot more about this business.Don’t get me wrong — buying HeiQ shares isn’t without risk. Growth stocks like this don’t always deliver as hoped. I also feel that a lot of growth is already priced into the stock. For these reasons, I wouldn’t put more than a small percentage of my portfolio into this stock.However, despite my concerns I can see serious growth potential here if things go well. If I was buying a small growth stock today, HeiQ would be on my short list for further research.center_img HeiQ shares: why I might buy this soaring stock for my ISA Image source: Getty Images. Our 6 ‘Best Buys Now’ Shares See all posts by Roland Head Enter Your Email Address “This Stock Could Be Like Buying Amazon in 1997”last_img read more

Read More →

Advice for schoolboys hoping to progress from academies to professional rugby

first_imgLATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS Mental toughness is perhaps one outcome, but for Taylor the emphasis is on teaching players to take responsibility for their own actions and outcomes. Of course, it is also about careful management and schoolmasters, as well as individual players, being completely aware of how programmes with an academy, school side, and other groups should marry together.“It’s about working well with academies – so we share video analysis with Leicester of their players, so we are aligned in our thinking,” Taylor says. Jamie Taylor, the director of rugby at Denstone College, who look after eight Leicester Tigers academy players and one Worcester Warriors academy prospect, believes that young players should be continually challenged if they are to take the step up to the next level.“If you do everything for them, you’re doing young academy players a disservice,” Taylor tells Rugby World. “Let’s say a player comes into a programme at the age of 13, have a really smooth path with absolutely no disappointments on their way to an academy. Then they come to a situation where they are trying to earn a first team contract (at a pro side). If they don’t get one they won’t be equipped to deal with that.“As for skills, it depends on an individual basis but we are not a school who wants to win every fixture. If you are unbeaten, that’s not tough enough and the players don’t learn anything.”Close affiliates: Tigers and Denstone have a good relationshipTaylor also explains a programme he has utilized at Denstone which looks at Psychological Characteristics for Developing Excellence (PCDEs) – a principle which he insists can be seen in literature but that is not particularly well known. To explain, he gives an example of talking players through a specific seminar on goal-setting – looking at outcome goals or process goals. Then it is about instilling in players that they must identify themselves when they have achieved a goal. Then they will review these goals periodically, possibly when we are coaching them one-on-one. Prospect: Sam Lewis of Denstone and Leicester Tigers U18 center_img TAGS: Leicester Tigers “Any schoolmaster who has academy players in their team and wants their players to progress, they have to have dialogue with these academies. The big danger is over-training on the pitch and under-training with strength and conditioning. It’s about managing progress. And absolutely, I would advise young players (who may not have a school coach so close to an academy) to seek out as much information themselves, so they know exactly how much training to do.”Jamie Taylor will be speaking at the Rugby Innovation Summit. To find out more, visit rugbyinnovationsummit.comlast_img read more

Read More →

Loures House / André Mesquita Arquitectos

first_img Photographs Projects Portugal Photographs:  João Morgado Manufacturers Brands with products used in this architecture project Year:  “COPY” Manufacturers: Plaka, Carpintaria Ribeiro, Erfi, Fenwood, Loja de iluminação, Mob, Ogiva GlobalStructure Engineer:Emidio MendesCity:LisbonCountry:PortugalMore SpecsLess SpecsSave this picture!© João MorgadoRecommended ProductsPorcelain StonewareGrespaniaPorcelain Tiles – 20MMWoodAccoyaAccoya® CanalsCorporate ApplicationsULMA Architectural SolutionsPolymer Concrete Facade in UniEléctricaText description provided by the architects. Three principles lay down the rules behind the intervention which are: the proportions of volumes; the plans metrics and the use of colour.Save this picture!© João MorgadoIt was developed has three different dwelling areas, united morphologically and structurally through the treatment of void areas and zenithal windows. This spatial organization unites and creates living spaces and transit spaces in which the dichotomy between the different types of spaces are revealed through the character of the voids itself. Like a thread stitching the intervention giving a new dynamic to the existing spaces.Save this picture!© João MorgadoSave this picture!SectionSave this picture!© João MorgadoOn the ground floor, the metrics of the space was kept and was introduction a new large window in the entrance hall, framed by a concrete volume, like a box to make time known by the user of the space. This window attempts to join two gardens which were so far apart visually but almost together physically.Save this picture!© João MorgadoIn the other side of the building we take advantage of an old kitchen, creating a connection zone between the old container (the main volume of the old house) and the new concrete volume painted in red. It is through the redesign of the façade, introducing a longitudinal window, preparing the kitchen volume to the inserting of the new form taking advantage of the plastic quality given by concrete to introduce a curve line, which serves as a locking volume for the intervention. Here close to primary colors were introduced in the interior of small round windows and on the façade. The earth incarnated tone serves as to remind the torn of an animal that curves to enter the old form paying tribute to the pre-existing form. Color is introduced as an experimental approach to test how can it change the perception of space and volumes. Save this picture!DrawingIn the first floor was reintroduce the metric of the ground floor but now correspondence with different living spaces. Black shade is used to prepare for more private rooms. Ceiling heights are amplified or reduced in order to reference pathways, giving it a more solemn space through its different heights. A main volume (a closet) which encloses the bedroom space creates a dressing space in one side while in the opposite side a horizontal tear of modernist nature takes on the contemporary nature of the new spaces.Save this picture!© João MorgadoProject gallerySee allShow lessSalters’ Hall Renovation / dMFKSelected ProjectsAD Retail / The Purple Ink StudioSelected Projects Share 2015 ArchDaily Loures House / André Mesquita Arquitectos Area:  450 m² Year Completion year of this architecture project center_img Houses ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/792512/loures-house-andre-mesquita-arquitectos Clipboard “COPY” Architects: André Mesquita Arquitectos Area Area of this architecture project Loures House / André Mesquita ArquitectosSave this projectSaveLoures House / André Mesquita Arquitectos Save this picture!© João Morgado+ 54 Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/792512/loures-house-andre-mesquita-arquitectos Clipboard CopyHouses, Renovation•Lisbon, Portugal CopyAbout this officeAndré Mesquita ArquitectosOfficeFollowProductsWoodConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesRefurbishmentRenovationLisbonPortugalPublished on August 20, 2016Cite: “Loures House / André Mesquita Arquitectos” 20 Aug 2016. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogPanels / Prefabricated AssembliesTechnowoodPanel Façade SystemRailing / BalustradesMitrexIntegrated Photovoltaic Railing – BIPV RailingMetal PanelsAurubisPatinated Copper: Nordic Green/Blue/Turquoise/SpecialPlastics / FibersRodecaTranslucent Building Elements in Downton Primary SchoolSkylightsVELUX CommercialModular Skylights – LonglightBathroom FurnitureBradley Corporation USAToilet Partition CubiclesSignage / Display SystemsGoppionDisplay Case – One-offAcousticFabriTRAK®FabriFELT™ for Walls and CeilingsBoardsStructureCraftStructural Panel – Dowel Laminated TimberThermalSchöckInsulation – Isokorb® Concrete to SteelDoorsJansenSmoke Control Door – Economy 60Louvers / ShuttersShade FactorExternal Venetian BlindsMore products »Read commentsSave世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

Read More →

Londoners asked to donate winter coats for people in need

first_img Howard Lake | 13 October 2014 | News About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Advertisement The fourth annual Wrap Up London campaign takes place in early November, encouraging Londoners to donate unwanted coats for distribution via charities to people in need.Run by Hands On London, the campaign collects donated clothes primarily at 10 rail and Tube stations, including Paddington, Baker Street, Charity Cross, London Bridge, King’s Cross, and Waterloo. The volunteer-run collection points aim to catch people on their way into work in London, and are open from 7-11am from 5, 6 and 7 November.Those who can’t reach one of those collection points can still donate coats up to two weeks after the campaign at one of four Safestore Self Storage centres and the Broadgate Welcome Centre near Liverpool Street Station.Whom do the coats help?The 2013 Wrap Up London campaign secured 15,700 donated coats.This year the coats will be sorted and sent to over 120 organisations who help homeless people, the elderly, refugees, immigrants, children in poverty, and women and children who have fled domestic violence. Tagged with: Donated goods Londoncenter_img  32 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis3 AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis3 Londoners asked to donate winter coats for people in needlast_img read more

Read More →

Missouri Asking USDA to Extend Acreage Report Deadline

first_img SHARE Facebook Twitter Missouri Asking USDA to Extend Acreage Report Deadline By Andy Eubank – Jul 14, 2015 SHARE Facebook Twitter Missouri Governor Jay Nixon has sent a letter to USDA Secretary Tom Vilsack requesting an extension of the period for producers to submit their acreage reports to the USDA-Risk Management Agency. Governor Nixon sent the request following heavy rainfall and flooding that delayed many farmers’ ability to plant their crops in his state. Missouri has been at the forefront of the discussion when it comes to planting delays this year, with 20 percent of the soybean crop left un-planted as of this week’s Crop Progress report by USDA.Source: NAFB News Service Home Indiana Agriculture News Missouri Asking USDA to Extend Acreage Report Deadline Previous articleNatural Gas as a Marine FuelNext articleHouse Ag Committee Passes SAFE Act Andy Eubanklast_img read more

Read More →

TCU celebrates First Generation Students Day

first_imgFacebook Poor control on the mound leads to blowout loss for No. 20 baseball Welcome TCU Class of 2025 Conner McBridehttps://www.tcu360.com/author/conner-mcbride/ printTCU students and faculty gathered in the TCU Commons Thursday to celebrate the second annual First Generation Students Day.The event encouraged students to show support for members of the first generation in their immediate family to attend a four-year university.First generation students were happy to see that the university was taking steps to recognize students that face different challenges in every day life while in college.Students gather at Frog Fountain to celebrate First Generation Students“I feel a lot of responsibility being a first generation student and I don’t always feel comfortable on campus, but it is nice to see the school making some steps to recognize the struggles we face on a day to day basis,” said Evelyn Morales, a first generation student.The event was a collaborative effort between the Department of Student Services, the Department of Student Development, and Inclusiveness and Intercultural Services.According to the First Generation Foundation, nearly 50 percent of the student population is comprised of first generation college students and those first generation college students are less likely to graduate from their four year universities.“We are trying to change the narrative around first generation students,” said Cynthia Montes, a faculty organizer of the event and head of the Department of Student Services. “Some students feel like it is a bad thing to be first generation, but we want to turn it into a celebration that the students can be proud of.”According to organizers, this event was intended to act as a first step toward greater awareness of the challenges first generation students face.“We hope to have many more events like this and create a group of first generation students who can find a place to help them succeed to the best of their abilities,” Montes said. ReddIt TCU360’s guide to filling out your bracket Twitter Star pitcher to make return against Dallas Baptist ReddIt Conner McBridehttps://www.tcu360.com/author/conner-mcbride/ Linkedin + posts Conner McBride TCU places second in the National Student Advertising Competition, the highest in school history Baseball continues strong hitting in win over Abilene Christian Facebook Twitter Previous article‘Physical’ Baylor stands between football and a shot at bowl eligibilityNext articleNews Now 11/14/18 Conner McBride RELATED ARTICLESMORE FROM AUTHOR Linkedin World Oceans Day shines spotlight on marine plastic pollution Conner McBridehttps://www.tcu360.com/author/conner-mcbride/ Conner McBridehttps://www.tcu360.com/author/conner-mcbride/last_img read more

Read More →

Tornek Hopes He’s Earned a Second Term

first_img More Cool Stuff Top of the News As Pasadena residents were waiting for the results of Tuesday’s election, Mayor Terry Tornek was hoping his work to secure the city’s budget while weathering the financial hurricane created by COVID-19 had earned him a second four-year term.As it turned out, revenue from Tornek’s successful “big ask” for a three-quarter cent sales tax a few years back came in handy in helping the city stay above water after the pandemic hit.Tornek is endorsed by outgoing Councilmember Margaret McAustin and Councilman John Kennedy. Most recently, Kennedy and Tornek worked together to craft a police oversight commission in the wake of the officer-involved death of George Floyd on May 25.Pasadena Now: This is one last bid for voters. Why should people vote for you?Terry Tornek: This has been a long campaign and the voters have had a chance to really measure the candidates in terms of what they’re talking about. I’ve talked about the significant issues facing Pasadena and what I’ve done about them so far, and what I intend to do moving forward into the future; homelessness, managing the pandemic, supporting the public schools, safeguarding the environment. And, of course, keeping the city financially strong in the face of all these challenges. That’s been the essence of my campaign. And the contrast in terms of what I believe my opponent has done which is, “If you can’t win on the issues, you move to other things.”What he attempted to do was to use vague catchphrases and smear me on a variety of issues. He’s had a huge campaign warchest. He’s tried to bury the people in mail and use TV ads. I think at the end of the day, based on the responses I’m getting from people as I talk to them and as my volunteers report back to me, I don’t think people are buying it. I don’t think this election could be bought. So my appeal is for the people to investigate these things and reach their own judgments.Point to one or two or three of your biggest accomplishments that you want people to think about and remember when it comes down to vote.Well, the thing is that the reason that we’re not struggling, you know, there’ve been all these headlines about the city of Los Angeles having to furlough people and lay people off. That hasn’t happened in Pasadena. And the reason that hasn’t happened is because I’ve relentlessly pursued building the city’s budget, and reserves so that we’re able to withstand this emergency. It’s not sexy, but it’s good government. And that has really been my emphasis. And the other thing that I’ve been focused on since we’ve been in this crisis is managing the pandemic, making sure that services continue to get delivered and that the city expanded services to deal with this emergency condition that its residents are confronting, and continuing to work on the long-term strategy with regard to homelessness, and continuing to support our public schools.It has been a long campaign and it has been a trying campaign. How different has this been in the midst of COVID?My campaign strategy is one of those things that’s been fundamentally adjusted. My campaign has always been built around going door to door, meeting people on their front porches and talking with them directly. The one benefit of the long campaign period from March to November was that I would have all those months to troop around the city, walk every street the way I have in the past, and reintroduce myself to voters and introduce myself for the first time to new voters. That wasn’t doable. People were not going to welcome me in my mask with open arms on their front porch.So we had to completely change our strategy and I’ve happily been the recipient of a huge turnout of volunteers. I won’’t let them walk for me, but they’re calling for me, they’re writing postcards for me. They’re contacting their friends and neighbors, writing personal emails. That has been a dramatic change. It’s been inspirational to me that there are so many people that are willing to spend their time and their effort and their energy to have the feeling that they’re having an influence in terms of the future direction of the city and feel I’m the right person to reflect that and to keep it going in what’s undoubtedly going to be a pretty tough time. Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. CITY NEWS SERVICE/STAFF REPORT Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Community News faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Name (required)  Mail (required) (not be published)  Website  Subscribe Make a comment EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDScenter_img Community News STAFF REPORT First Heatwave Expected Next Week Your email address will not be published. Required fields are marked * 11 recommended0 commentsShareShareTweetSharePin it STAFF REPORT Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Herbeauty10 Of The Most Notorious Female Spies In HistoryHerbeautyHerbeautyHerbeauty6 Strong Female TV Characters Who Deserve To Have A SpinoffHerbeautyHerbeautyHerbeauty10 Brutally Honest Reasons Why You’re Still SingleHerbeautyHerbeautyHerbeauty’First Daughters’: From Cute Little Kids To Beautiful Young WomenHerbeautyHerbeautyHerbeautyA Mental Health Chatbot Which Helps People With DepressionHerbeautyHerbeautyHerbeautyPretty Or Not: 5 Things You Didn’t Know About BeautyHerbeautyHerbeauty Community News Tornek Hopes He’s Earned a Second Term Mayor wants four more years By ANDRÉ COLEMAN, Managing Editor Published on Monday, November 2, 2020 | 7:21 pm Business News Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

Read More →

Rising Rates to Impact Homebuyers

first_img Basis points Bps Federal Reserve FOMC Home HOUSING Interest rates Jerome Powell mortgage Mortgage Rates 2018-03-21 Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: New Bill Amends Stress Test Rule of Nonbanks Next: Housing and Technology Converge for Five Star Fintech Summit Tagged with: Basis points Bps Federal Reserve FOMC Home HOUSING Interest rates Jerome Powell mortgage Mortgage Rates Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Rising Rates to Impact Homebuyers in Daily Dose, Featured, Government, Journal, News Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.  Print This Post Home / Daily Dose / Rising Rates to Impact Homebuyers The Best Markets For Residential Property Investors 2 days ago About Author: Radhika Ojha On Wednesday, after Jerome Powell’s first Federal Open Market Committee (FOMC) meeting as Fed Chair, the Federal Reserve announced that it had increased the Fed funds rate by a quarter point at a target of 1.5 percent to 1.75 percent. Powell had provided an upbeat assessment of the economy and inflationary trends during his Congressional testimony in the run-up to the meeting and the statement released by the Fed shortly after the meeting reflected the central bank’s positive stance on the economy.”In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 1-1/2 to 1-3/4 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation,” the bank said in its statement.These rate hikes impact the housing market as mortgage rates, which have been rising steadily since the beginning of the year are expected to surge further on the back of this hike. The Fed has also been missing on its targets for mortgage holdings which could be another blow for mortgage rates.“The Fed has been meeting its target on the treasuries but missing on the mortgage holdings,” said Tendayi Kapfidze, Chief Economist at LendingTree. “Treasuries are down $41.2 billion since October but mortgages are actually up $2.0 billion. Thus the Fed has actually been detrimental to mortgage rates on the one hand by reducing its holdings of treasuries, but providing some support given that its mortgage holdings are not declining.”“In today’s competitive housing market, rising rates are another hurdle for first-time buyers who don’t have a lot of cash to work with. To date, realtor.com has found the impact of higher home prices has so far dwarfed the impact of higher mortgage rates from a year ago. But with today’s announcement, it looks like this may be changing. As rates move higher, we expect to see their direct impact on buyers grow,” said Danielle Hale, Chief Economist at Realtor.com.According to Kapfidze, the Fed’s balance sheet normalization plan is set to have its second increase in April, which could raise the treasury security target to $18 billion a month and the MBS target to $12 billion a month. “Upward pressure on treasuries should increase and mortgage rates could see more upside in Q2 following the recent leveling off in rates. If the Fed begins to meet its MBS target, that would result in a further upward pressure,” he said. Related Articles Share Save March 21, 2018 2,404 Views Demand Propels Home Prices Upward 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Read More →