NCUA bans one from future work in FIs

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The NCUA in August issued one prohibition notice, prohibiting an individual previously associated with credit unions from any future participation in the affairs of a federally-insured financial institution.Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million. Details from last month’s prohibition order follow:Bethann Kraenzlein, a former employee of Northland Area Federal Credit Union in Oscoda, Mich., was sentenced on a charge of embezzlement. continue reading »center_img NCUA headquarterslast_img read more

Glasgow & Edinburgh retail

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Inflation angst Businesses face higher labour vendor costs

first_imgNEW YORK — Diners are willing to pay more at Manhattan’s upscale Gotham Bar and Grill, but price increases these days aren’t about snob appeal — the restaurant is contending with higher costs, particularly from rising wages.“We have been forced to raise our prices to offset this expense and our pricing still doesn’t compensate fully for the increase,” says Bret Csencsitz, managing partner in the restaurant located in the Greenwich Village section.Gotham’s hourly wages have gone up along with the city’s minimum wage, which rose $2 an hour to $13 last December and will reach $15 this Dec. 31. The restaurant is also paying more for ingredients, especially eggs and other dairy items that are key dessert components.Higher labour costs due to a tight employment market and rising minimum wages in states like New York are a key factor as some small businesses struggle with inflation and consider whether to pass higher expenses along to customers. Wholesale prices, which reflect what businesses pay for goods and services, rose 0.6 per cent in October, the largest increase in six years. Consumer prices, which the Federal Reserve considers as it determines whether to raise interest rates, were up 2.5 per cent from October 2017. Economists consider U.S. inflation to currently be mostly in check, but individual businesses can feel the impact of higher prices in differing ways, depending on where they’re located, whether they have employees, are in tight real estate markets and face the Trump administration’s tariffs on imports.Owners have varying strategies for coping with inflation. Where possible, they try to negotiate lower prices with suppliers or search for new vendors. They may change products or services to avoid raising prices or keep the increases to a minimum. Others understand when they’re forced to charge more that they may lose some business.Gotham won’t downscale its menu, and while it has raised prices, it’s also absorbing costs rather than lose customers, Csencsitz says.“There is a limit to what the consumer is willing to accept to dine out. We’d rather take a hit on the bottom line,” he says.Just a few years ago, Tom Malesic was able to pay a website developer at his Lancaster, Pennsylvania, internet marketing company $35,000. Now, he says, “we’re lucky to get one at $60,000.”“Our biggest business expense is labour. Our salaries have had to go up substantially to stay competitive and attract the people that we need to be successful,” says Malesic, owner of EZSolution. He also has other rising expenses, including software that’s upgraded yearly and costs more with each enhancement.Malesic has had to raise prices, but rather than implementing an across-the-board increase, he’s created a tiered system, packaging services and pricing them according to what each package offers. Customer response has been positive, he says.“In the last year, we’ve done a better job at repositioning and being transparent about what they get,” Malesic says. “That’s definitely been helpful.”Raising prices is difficult in the printing industry, where many companies have shut down in the past decade, not only because of the recession, but because their business customers no longer send printed documents through the mail.“I had to keep my prices decently low just not to go out of business,” says Joy Gendusa, owner of Postcardmania in Clearwater, Florida. She absorbed the increases by resigning herself to lower profit margins. Now, however, with labour costs up $22,000 a week this year including what she pays for staffers’ health insurance, she’s passing some increases to customers.“We’ve had to raise our prices to afford the creme de la creme of personnel,” says Gendusa, who has 235 employees. She’s also finding ways to diversify; she’s added electronic mailing services that bring in more revenue and are more profitable than printing.When inflation manifests itself in the form of soaring rents, some companies shut down, forcing their small business customers to find new suppliers. When some of Haldora Bjornsson’s fabric vendors in New York’s Garment District closed, she had fewer resources for the silk she uses in custom-made women’s clothes.“Now, there aren’t so many choices, and we are paying a higher cost,” says Bjornsson, owner of Haldora, a store in Rhinebeck, New York.Bjornsson also pays more for thread and buttons and is concerned that Trump administration tariffs could exacerbate the increases. While customers expect to pay more for her clothes — her signature shirt ranges from $258 to $649 — Bjornsson is hesitant to raise her own prices because she doesn’t want to lose sales. The solution, she says, is to scale back the types of fabric she uses.“I make less silk (shirts) than I used to. I’m still using linen and cotton,” Bjornsson says.Owners whose companies require frequent travel are getting hit hard, especially if they’re not flying in and out of major hubs.“I’m finding that coming out of Santa Fe and Albuquerque (New Mexico), the inexpensive flights I used to take are sold out,” says Sarah Boisvert, who takes about five trips a month for her technology training company, Fab Lab Hub. She estimates her travel expenses are up by a third this year. Boisvert flies to cities like Chattanooga, Tennessee, and Tulsa, Oklahoma, and fares are higher than on more heavily travelled routes like New York-Los Angeles. Some tickets she used to pay $400 for now cost $900.But Boisvert, whose company helps train people in skills like 3D printing, gets funding from grants and can’t pass along cost increases. She has to take steps that are hard for a company focused on new technology.“We have to cut elsewhere — delay new equipment purchases, for example,” she says._____For more small business news, insights and inspiration, sign up for our free weekly newsletter here: http://discover.ap.org/ssb_____Follow Joyce Rosenberg at www.twitter.com/JoyceMRosenberg . Her work can be found here: https://apnews.com/search/joyce%20rosenbergJoyce M. Rosenberg, The Associated Presslast_img read more

Statistics Canada says pace of Canadian economic growth slowed in third quarter

first_imgOTTAWA — The pace of economic growth in Canada slowed in the third quarter as business investment spending moved lower and the growth in household spending slowed.Statistics Canada says the Canadian economy grew at an annualized pace of 2.0 per cent in the quarter.That compared with an annualized pace of 2.9 per cent in the second quarter.The result matched the expectations of economists, according to Thomson Reuters Eikon.The move came as non-residential investment in buildings and engineering structures fell 1.3 per cent as spending in the oil and gas sector slowed. Investment in machinery and equipment by businesses fell 2.5 per cent.Meanwhile, the growth in household spending slowed to 0.3 per cent in the quarter compared with 0.6 per cent in the second quarter.The Canadian Presslast_img read more

Odisha has become centre of unemployment: Rahul

first_imgBhubaneswar: Congress President Rahul Gandhi on Friday alleged that Odisha has become the centre of unemployment while attacking Prime Minister Narendra Modi and Chief Minister Naveen Patnaik for failing to provide jobs to youth in the state. “Odisha has become the centre of unemployment as most of its youths are migrating to other states in search of jobs,” Gandhi said while addressing party workers in Bargarh district. He said that there were 1.5 lakh government posts, 30,000 school teacher posts and 5,000 medical staff posts vacant in the state. Also Read – How a psychopath killer hid behind the mask of a devout laity! Gandhi assured that the Congress will fill up the vacancies once the party comes to power in the state. The Congress President also raised the chit fund and mining scam issues to target the state’s Biju Janata Dal government. “Rs 5,000 crore was looted from the people by the chit fund companies and Naveen Patnaik handed over Rs 50,000 crore to his friends through the mining scam. I want to assure you that whoever looted public money, we will take action and provide justice.” Also Read – Encounter under way in Pulwama, militant killed Citing examples of loan waiver and raising minimum support prices (MSP) on paddy in Chhattisgarh, Gandhi said his party not only made promises but also kept them. “The Chief Minister had promised to set up cold storages and provide irrigation facilities but farmers here continue to commit suicide. Similarly, the Prime Minister also raised farmers’ issues in all his speeches but unconcerned about waiving off farm loans,” he said. Terming the Goods and Service Tax (GST) as “Gabbar Singh Tax”, Gnadhi said it will be a simple tax after Congress forms the government at the Centre.last_img read more

Iran president says US ”leader of world terrorism”

first_imgTehran: Iranian President Hassan Rouhani said Tuesday that the United States was the real “leader of world terrorism” after Washington blacklisted Iran’s Revolutionary Guards as a “foreign terrorist organisation”. “Who are you to label revolutionary institutions as terrorists?” Rouhani asked in a speech broadcast live by state television. Speaking at a ceremony to mark Iran’s national nuclear technology day in Tehran, Rouhani defended the Revolutionary Guards as a force that has fought terrorism ever since its creation in 1979. Also Read – Saudi Crown Prince ‘snubbed’ Pak PM, recalled jet from US In contrast, the Islamic republic’s president accused US forces of having always been directly or indirectly involved with terrorist groups or acts of terrorism. “You want to use terrorist groups as tools against the nations of the region… you are the leader of world terrorism. “Who is propagating and encouraging terrorism in today’s world? Who wanted to use ISIS (the Islamic State group) as a tool?” Rouhani asked, saying that the US is harbouring the leaders of the jihadist organisation. Also Read – Record number of 35 candidates in fray for SL Presidential polls “Even now America is hiding the heads of ISIS, even now they are not prepared to tell the regional governments where the heads of ISIS are hiding.” Iran swiftly retaliated against the US move on Monday by calling US troops “terrorists”. It is the first time that Washington has branded part of a foreign government a terrorist group, meaning that anyone who deals with the Islamic Revolutionary Guard Corps could face prison in the United States. To support his accusations, Rouhani cited the downing of Iran Air Flight 655 in July 1988 by missiles fired from the US naval ship the USS Vincennes. “You have done everything imaginable. Which force was it that shot down our civil airliner in the waters of the Persian Gulf?” he said, adding that it was aimed at intimidating Iran. “You wanted to tell the Iranian nation that we do not have any red lines, you wanted to say that we also kill children, you wanted to say that we also kill women,” Rouhani said, concluding that the US was transmitting “a message of terrorism in the whole world.”last_img read more

Dont Read Too Much Into Ohio States Unanimous No 1 Ranking

The 2015 Ohio State Buckeyes haven’t played a game yet, but they’re off to a historic start. Not only does the team rank first in the Associated Press’s preseason poll, but it also garnered all 61 possible first-place votes — making it the first time in the 66-year history of the preseason rankings that a team was unanimously voted No. 1.There’s no question that the Buckeyes are bursting with talent, having retained 14 starters (including three All-Americans) from last year’s 14-1 squad that won the inaugural College Football Playoff National Championship. The metrics are fond of them as well: The Buckeyes rank No. 1 in ESPN’s preseason Football Power Index (FPI), with a 31 percent probability of finishing the season without a loss. (No other team has more than an 11 percent chance of going undefeated.)But as great as Ohio State figures to be, the share of No. 1 votes that a top-ranked team receives hasn’t historically been a reliable indicator of how strong it will be at season’s end.Among top-ranked teams in the preseason since 1992, there’s a passable relationship between the percentage of available No. 1 votes gathered and the team’s eventual end-of-season power rating.1As measured by the Elo-like estimated version of FPI we used here. But that’s almost entirely because voters (sensibly) tend to hand their No. 1 votes to teams that were already good in the first place. If we look at whether the share of No. 1 votes a top-ranked team receives in the preseason predicts the change in its rating from the preseason to the end of the year, there’s essentially no relationship at all.In fact, Ohio State’s accomplishment might actually be more indicative of an overall trend toward consolidation atop the preseason poll. In the five polls between 1992 and 1996, for instance, the No. 1 team accumulated 56 percent of all top votes on average. In the most recent five years, that average was 79 percent, with each of the past three preseason No. 1 teams garnering at least 95 percent of the vote.This year’s Buckeyes should be a treat to watch. But their unanimous No. 1 ranking doesn’t make them any more likely to dominate the season than a team with the same FPI but a less-impressive vote tally. read more

Football Ohio State looks to make it six straight wins against rival

OSU redshirt junior quarterback J.T. Barrett (16) pushes past Michigan defenders during the second half of the Buckeyes’ 30-27 win on Nov. 26. Credit: Lantern File Photo“The Game” returns Saturday.Having already punched its ticket to the Big Ten Championship game, No. 9 Ohio State (9-2, 7-1 Big Ten) will travel north to take on its rival, No. 24 Michigan (8-3, 5-3 Big Ten), to finish the regular season. The two teams will clash for the first time since the first-ever overtime game between the rivals last season in which Ohio State won 30-27 on a walk-off touchdown in double-overtime by H-back Curtis Samuel. Ohio State offense vs. Michigan defenseOne of the top offenses in the country will square off against one of the top defenses in the nation Saturday, with Ohio State’s potent offense (third in the nation in scoring) and Michigan’s stout defense (11th in the nation in fewest points allowed) pinned against one another. The heart and soul of the Wolverines’ defense this season has been its ability to stifle opposing aerial attacks. Michigan’s top-ranked pass defense has allowed 144.4 yards per game and the third-fewest yards per attempt at 5.7. Only once this season has Michigan allowed more than 200 passing yards and it has yet to allow multiple passing touchdowns in a single game.That passing defense has been carried by the performance of two of its starting safeties, Khaleke Hudson and Tyree Kinnel. The pairing are No. 2 and 3 in total tackles on the team, respectively, and both have a pair of interceptions so far this season. Hudson also has forced two fumbles while Kinnel returned an interception for a touchdown. This secondary will be tested Saturday, however, against the top passing offense it will face all season. Before Ohio State, only Penn State cracked the top 25 in passing yards per game at No. 24, and Ohio State sits firmly six places ahead of them at No. 18. The Penn State offense put up 282 passing yards and a touchdown against Michigan’s defense.Michigan’s front seven, led by Butkus semifinalist linebacker Devin Bush, defensive tackle Maurice Hurst and defensive end Rashan Gary, will apply pressure to the offensive line and quarterback J.T. Barrett. The Wolverines are tied for seventh in sacks per game with 3.27, and Bush, Hurst and Hudson all have more than five sacks. However, Ohio State’s offense has gone away from the passing game lately, posting its two fewest pass attempts over the past two games. That is why so much of this game will come down to Michigan’s ability to stop the run. The Wolverines have been one of the top teams in the nation at stopping the run, allowing the 15th-fewest yards per game (116.8) and 17th-fewest yards per carry (3.41). However, that rush defense has been either boom or bust for the Wolverines this season. It has often been suffocating, allowing just 11 yards on 27 attempts to Florida and less than 100 yards in five other games. At times, it also has been exposed. Michigan has allowed more than 150 yards on the ground five times, including a 224-yard, five-touchdown outburst from Penn State, led by its star running back Saquon Barkley. That has been a trend for the Wolverines this season. They have have allowed an average of 3.13 yards per carry to unranked opponents, but 4.9 yards per carry to ranked opponents. And against the Buckeyes, they will be tasked with trying to stop the second-best rushing offense they have faced all season. Ohio State has the 12th-most rushing yards per game and is tied for seventh-most yards per carry. The Buckeyes also are an offense that is clicking as of late, having put up its two highest rushing totals of the season at 335 and 325 yards against Michigan State and Illinois, respectively. Ohio State defense vs. Michigan offenseThe flip side of the matchup does not appear to be quite the same battle. Michigan’s offense has struggled this season, posting only the 101st-most yards per game at 360.4 and is tied for the 82nd-most points per game at 26.3. Ohio State’s defense, on the other hand, has done its part to keep opposing offenses at bay, allowing the 22nd-fewest points (19.8) and eighth-fewest yards per game (291.5).If the Wolverines are to find any success, it will have to come on the ground. Their rushing offense ranks 35th in the nation in yards per game at 194.2 and has the 52nd-most yards per carry at 4.64. The bulk of that production has come from junior running back Karan Higdon, who has rushed for 874 yards on 136 carries and 10 touchdowns. Michigan also will  lean on running backs Chris Evans and Ty Isaac,who have both rushed for more than 500 yards and have combined for eight touchdowns. Unlike Michigan, Ohio State has been consistent in stopping the run this season. The Buckeyes have only allowed more than 150 rushing yards three times and have held teams to under 100 six times this season. Even matched up against ranked opponents like Penn State, Michigan State and Oklahoma, Ohio State has only allowed 2.4 yards per carry. Where Ohio State struggles most defensively also happens to be where Michigan struggles the most offensively. Ohio State has looked incapable of defending against the pass at times, even if the 15th-fewest passing yards per game appear to tell a different story. But the Wolverines also have struggled to pass with any consistency. They have only three games with more than 200 passing yards, and they have just eight touchdowns to seven interceptions.The biggest question mark for the team will come down to the man under center since Brandon Peters had to enter concussion protocol after taking a hit against Wisconsin. Peters had shined in his five games played, throwing four touchdowns and no interceptions. And with last season’s starter Wilton Speight still questionable for the game, Michigan might have to turn to John O’Korn, who has a 53.2 percent completion rating and one touchdown pass to five interceptions.The latest edition of the rivalry does not appear destined for a shootout. Michigan’s offense does not appear to have the firepower to rack up gaudy point totals, but its defense could provide Ohio State with one of the Buckeyes’ toughest challenges of the season.Predictions:Edward Sutelan: Ohio State wins 28-20Colin Hass-Hill: Ohio State wins 34-21 read more

Gambian Striker Inks Permanent Deal with Portuguese Club

first_imgBy Sulayman BahYusupha Njie has turned his loan to a permanent deal with Portuguese Primera Liga outfit Boavista, Foroyaa Sport can reveal.The 24-year-old Gambian forward put pen on the dotted lines following an impressive debut season loan with Boavista from Moroccan club FUS Rabat.Half-brother to Tijan Jaiteh, Njie confirmed the deal to Foroyaa Sport over the weekend.The trajectory reels in after the stylist playmaker activated the option of extending his stay at Boavista installed in his contract which has been agenda of the Portuguese side’s board since end of the season.Marseille and Monaco have been tracking the ace from the time he scored his first league goal last March against Sporting Braga.In a show of firming up their interest, Monaco dispatched their key scout to conduct a study on the player recently.last_img read more

International School calls flag controversy a Mistake

first_imgFacebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, 10 Sept 2015 – They are calling it an honest mistake, school administrators at the International School of Providenciales say it was an admitted oversight by officials which led to the Turks and Caicos flag being flown below eight other flags in total and more specifically the Canadian and Sweden flag on the school’s premises recently. This in light of outrage by residents who called the act disrespectful after a picture surfaced on Facebook.It was leader of the Progressive Democratic Alliance, Oswald Skippings who first brought the grievance to light as he shared the photo and his thoughts with followers on social media saying, “This display of flags is obviously a total disregard for our sovereignty.” Residents who felt the act degraded the Turks and Caicos flag also shared similar sentiments.Amidst the controversy, school officials say they have repositioned the TCI flag. Administrators say the flags represent the nationalities of their students and are sometimes raised by the school children, as was the case in this instance.On the school grounds today, the TCI flag could be seen visibly flying high, on its own pole. Turks and Caicos flag protocols states that the TCI flag must be flown above the flags of other countries. Facebook Twitter Google+LinkedInPinterestWhatsApp Related Items:tci flag, turks and caicos international schoollast_img read more