Overhauling a sports betting offering

first_img Email Address Ebbe Groes, EveryMatrix CEO, is a quick-thinking entrepreneur with a successful track record in launching online ventures. Ebbe founded the company in 2008, and since then he grew the business from a start-up to an established company, currently catering to several Tier-one operators in the iGaming industry.Making the decision to review and renew an entire product is not an easy one, but doing so can make or break businesses in fiercely competitive and dynamic industries such as igaming.iGaming Business spoke to Ebbe Groes, CEO at EveryMatrix to discuss some of the developments the company has recently made to its sports betting product, OddsMatrix.EveryMatrix’ sportsbook was launched in 2009, and Groes says it was the company’s leading product for a number of years. However, as the need for flexibility and enhanced offerings has increased, the company decided to revamp the OddsMatrix product.Groes says: “This is something we did three years ago on our casino product and was a big success.“We basically rewrote OddsMatrix end-to-end, and the last part of this big rewrite project was to kit it out with a new front-end. Also, six to nine months ago, we migrated all clients to a new back-end. It’s been a big undertaking.” Forward facing sportsbook front-endGroes says a key part of the new front-end is the application programming interface (API) that underpins it: “We have built an API that allows any of our clients to interact with it in the exact same way as our own team does. This is quite rare.“The new front-end we’ve built is in HTML and Javascript, which means you don’t have to have servers and databases – you can write the code for the front-end and it can all sit in the users browser in the same way that a mobile app does.”This, he explains, gives the platform a big advantage, and achieves one of EveryMatrix’s key aims for the new front-end – not just to build something clients can replicate, but rather an API they can customise and be creative with.“We have two clients now live with their own front-end. One of our clients, Bookee, built a Tinder-style mobile app for iPhone and Android, in which users can find betting odds, and the other client, Luckbox, is a newly launched esports betting platform. Both are using the OddsMatrix Sportsbook back-end platform, but you would never think it when you compare their front-ends.”Another feature Groes says was crucial to the development was responsiveness: “It’s one front-end, it’s lightweight and it works for both mobile and desktop. This makes it much easier to add new features.”“When we added cash out features recently, implementing this in our new front-end halved the time as it was only one code base. For us, this represents an increase in productivity, and of course offers a better UX for the clients.”Groes expects this freedom will lead in the next two to three years to half of EveryMatrix’s clients using front-ends that they have either fully built themselves or built with the bricks that OddsMatrix has provided them.When you have the opportunity to fully personalise your services in this way, Groes says, you can begin to provide an enhanced experience for your users. Enabling cross-vertical sellingAdditionally, OddsMatrix has introduced a new data feed component, allowing operators to process data in real time into their systems and platforms.Groes sees this kind of development allowing cross-selling from casino players to sports betting. He explains that while you will often see a proposal for casino games on the sidebar of a sportsbook, this is not the case the other way round.As sportsbook or casino providers will be the ones to supply fixed templated frames for these, it has historically not been possible to truly offer a cross vertical experience.“Once you remove that outer layer and allow operators to mix things up, they can do things they couldn’t do before. We want to enable operators to show a small sportsbook on the side of their casino sites, where players could perhaps track their bets, see their winnings and so on.”Groes expects to see a shift in mindset more towards holistic offerings such as this which prioritise the interests and experience of the players. “The most important thing, though, is to leave these decisions in the hands of the operators, and to empower them to make intelligent decisions with the help of data.” Odds aggregationEveryMatrix also built a separate component called the OddsMatrix Aggregator. Groes explains: “What you see in normal sportsbook today is that one of the limitations is that actually, operators would like to check in data from a lot of different sources.”Managing and integrating all of these different sources is no easy feat, says Groes, so EveryMatrix now takes up the task of doing the data integrations, aggregating all of the sources into one data feed. “This allows them to mix the sources together, and when they overlap, the operator can set preferences for certain sources.”“To do this in real-time is a technical challenge of some dimension, because the amount of data you get and the speed at which they change creates an enormous amount of data.”In his eyes, the future of trading is as much about managing data feeds as it is about having traders looking at events. “A good trader is one that understands the quality, looks at the data and knows how to prioritise and organise sources. That’s why, for us, this data aggregation model is a key tool.”When building the new sportsbook, Groes says the company saw value in this feature outside of the product, and decided to open it out to run independently as a separate component too.In today’s market where there is such a high volume of competition and with operators increasingly needing more ownership, control and creative licence over their offerings, Groes says this volume of configurability and information is the best way to meet modern demands. Overhauling a sports betting offering 1st July 2019 | By Aaron Noy Slots Topics: Sports betting Slots AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter We spoke to EveryMatrix CEO Ebbe Groes to learn more about their recently launched revamp of OddsMatrix.last_img read more

Crown Paints Kenya (BERG.ke) 2010 Annual Report

first_imgCrown Paints Kenya (CRWN.ke) listed on the Nairobi Securities Exchange under the Building & Associated sector has released it’s 2010 annual report.For more information about Crown Paints Kenya (CRWN.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the Crown Paints Kenya (CRWN.ke) company page on AfricanFinancials.Document: Crown Paints Kenya (CRWN.ke)  2010 annual report.Company ProfileCrown Paints (Kenya) Limited manufactures and sells a range of paints and adhesives for the home decor, construction and industrial sectors. The company supplies markets in Kenya, Uganda, Tanzania, Burundi, Mozambique, Rwanda, Somali, South Sudan and the DRC. Its retail paint range includes emulsion water-based paints, roof paint, wood finishes, textured finishes and special effects, floor paints and gloss/oil-based paints. Its construction and industrial division range includes Polyfilla, primers, undercoats, fillers and skimming products as well as an automotive range which includes metallic paint and 2K acrylic systems and nitro cellulose systems. Other products produced by Crown Pains Kenya include paint for road markings, and applications for tiles, leather, wood, fabricators and paper. Service operations include computerized tinting machines capable of dispensing a range of over 6 000 shades in a few minutes. Formerly known as Crown Berger Kenya Limited, the company changed its name to Crown Paints Kenya Limited in 2012. The company has its head office in Nairobi, Kenya. Crown Berger (Kenya) Limited is listed on the Nairobi Securities Exchangelast_img read more

Unity Bank Plc (UNITYB.ng) 2012 Abridged Report

first_imgUnity Bank Plc (UNITYB.ng) listed on the Nigerian Stock Exchange under the Banking sector has released it’s 2012 abridged results.For more information about Unity Bank Plc (UNITYB.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Unity Bank Plc (UNITYB.ng) company page on AfricanFinancials.Document: Unity Bank Plc (UNITYB.ng)  2012 abridged results.Company ProfileUnity Bank Plc is a financial services institution in Nigeria offering banking products and services for the retail, commercial and corporate sectors. The company provides a full-service offering ranging from transactional accounts, deposit accounts and overdrafts to trade finance, treasury services, acceptance and guarantee commercial papers, money market services and international banking services. Unity Bank Plc provides foreign operations which includes home remittance services, mortgages, letters of credit, third party transfer services, invisible transactions, bills for collections and domiciliary transfers. The company supports the agricultural sector through agric products and schemes which includes Unity farmer’s cooperatives finance and leasing, Unity industrial input scheme and general agro-allied farmer’s schemes. Founded in 1987, Unity Bank Plc now operates through an extensive network of some 240 branches in 36 states in Nigeria and the Federal Capital Territory. Its head office is in Lagos, Nigeria. Unity Bank Plc is listed on the Nigerian Stock Exchangelast_img read more

Tongan Eddie Aholelei punches Jebb Sinclair after fight with Canada

first_imgWednesday Jun 12, 2013 Tongan Eddie Aholelei punches Jebb Sinclair after fight with Canada Three Tongan players have been suspended following a fractious Pacific Nations Cup match against Canada at the weekend. Canada won the game, but it has been marred by incident, and the Tongan coach has since claimed that officials appear racist. A fight broke out in the first half after something happened at the bottom of a ruck between Tongan centre Siale Piutau and Canadian hooker Ray Barkwill, with Nathan Hirayama getting involved.Just as calm had been restored, Tongan prop Eddie Aholelei threw a punch to the face of Jebb Sinclair, decking him directly in front of the referee. Aholelei, who was given time off from the Melbourne Rebels to take part in the tournament, was red carded and referee JP Doyle.In the disciplinary hearing 31-year-old father of five Aholelei admitted his guilt but said that he saw what he perceived to be a headbutt by Sinclair on his teammate. He was retaliating to that.There were also two incidents in the second half, which resulted in yellow cards. One was an off the ball high shot, while the other was an incredibly dangerous looking late and high tackle.After the match Tongan coach Man Otai accused match officials of treating his players unfairly because they are black. “I had a look at both (yellow cards). I couldn’t really see why.“It’s almost like, these days you know, when a black man is tackling harder than the other, it seems to be the way,” Otai told Canadian Press.When asked if he thought his side were being singled out, Otai said: “Absolutely. It’s a perception a lot of times. And I think some of the foreigners that are involved in our team now are starting to see that. It’s just hard to battle or fight that stereotype, I guess. “But I’m not taking away the fact that at times we do, I guess, make mistakes in terms of tackling — if I’m talking in general. But in today’s game, I couldn’t justify the two yellow cards.”Canadian winger Matt Evans was carried off the field on a stretcher after the David Halaifonua tackle knocked him out cold, while James Pritchard needed medical treatment before continuing.Halaifonua has been suspended for six weeks for his tackle, while Piutau – who was deemed to have started the fight with punches on the Canadian hooker – and Aholelei have both been given three week suspensions for striking.You can view full reports from the disciplinary hearings using the links below. They make for interesting reading, including quotes from the players and the reasons for their actions. David Halaifonua report  | Siale Piutau report  | Edmund Aholelei reportView the high tackles | View match highlightsAbove is a look at two of the high tackles the resulted in yellow cards during the Canada vs Tonga Pacific Nations Cup match in Kingston, Ontario. The second, and most dangerous of the two, was made by David Halaifonua.He appeared before independent Judicial Officer, Alan Hudson, having been cited by David Pelton in contravention of Law 10.4(e). Halaifonua wished to contest the offence. The Judicial Officer, having heard all the evidence, determined that the action was reckless and not premeditated. Given that the tackled Canada player was forced to leave the field of play through injury, the Judicial Officer determined that the offence should merit the top end entry point level for the sanction which is 10+ weeks.Having also considered mitigating factors, including remorse and excellent record, the suspension was set at six weeks. The player may resume playing on July 21, 2013.ADVERTISEMENT Posted By: rugbydump Share Send Thanks Sorry there has been an error Big Hits & Dirty Play Related Articles 25 WEEKS AGO Suspensions handed down after testicle grabbing… 26 WEEKS AGO The ‘double ruffle’ splits opinion with fans… 26 WEEKS AGO WATCH: The nastiest and most brutal moments… From the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedUrologists Stunned: Forget the Blue Pill, This “Fixes” Your EDSmart Life ReportsYou Won’t Believe What the World’s Most Beautiful Girl Looks Like TodayNueeyIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingDoctors Stunned: She Removes Her Wrinkles With This Inexpensive TipSmart Life Reports30+ Everyday Items With A Secret Hidden PurposeNueeyThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

Gift Aid reform “still slow moving and disjointed” says Institute

first_img  23 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis 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. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Gift Aid reform “still slow moving and disjointed” says Institute The Institute of Fundraising has expressed concern that progress to reform Gift Aid is “still slow moving and disjointed”. In particular, it is concerned that new discussion around increased giving, donor motivations, and the UK embracing and replicating the American model of philanthropy means that the consultation around Gift Aid is departing from its original brief.The Institute was responding to the Digital Giving presentation given by ResPublica on 6 September 2010.Lee Grant, Tax-Effective Giving Project Manager at the Institute of Fundraising, said: “Donors do not choose to give because of Gift Aid; they give to support good causes. Gift Aid simply increases the value of their gifts. Higher rate taxpayers enjoy partial-relief and therefore often adjust their gifts accordingly. Our system is not comparable with that of the USA; primarily because all the relief goes to the donor in the States and this can be used to motivate donors to give more.”He added: “It is quite alarming that in 2010, we are discussing new technologies in Gift Aid in the same breath as ‘the internet’ and ‘SMS donations’; this is hardly revolutionary stuff. However, the fact remains that the sector needs to catch up, and what we have come to expect as ‘the norm’ in the commercial sector is not necessarily being replicated in ours”.The Institute states that it welcomes any reform of Gift Aid that “creates an opportunity to increase charities’ income from voluntary gifts and that reduces the administrative burden and costs for all organisations involved in administering Gift Aid”.It is particularly keen to ensure that no voluntary groups are excluded from Gift Aid and the choice it offers their donors to increase their gifts. It argues that recent changes to the application process and the introduction of the fit and proper persons test is already discouraging new charities from using the relief.The Institute continues to call on Government to extend transitional relief to maintain Gift Aid at its current level until suitable reforms have been implemented to address the deficit post-transitional relief and simplify the process sufficiently to include all voluntary organisations.www.institute-of-fundraising.org.uk Howard Lake | 7 September 2010 | News Tagged with: Gift Aid Institute of Fundraising Law / policylast_img read more

A Closer Look at TRID

first_img A Closer Look at TRID Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: mortgage RMBS TILA-RESPA TRID  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Although it had been several years since the housing crises, in the third quarter of 2015, residential mortgage backed securitizations were still sailing into headwinds as the private label securitization market was still a fraction of its former self. Lenders were finally getting a firm footing after the Dodd-Frank based regulatory changes effective starting with loan applications received January 10, 2014, most significantly introducing the Ability to Repay testing and modifying the federal high cost testing under the Home Ownership and Equity Protection Act. Lenders were preparing for the TILA-RESPA Integrated Disclosure Rule (TRID), effective with loan applications as of October 3, 2015. The 1,888 pages of TRID meticulously rewrote the mortgage disclosure process with thoughtful detail, with the intention of making the mortgage origination process more transparent with easier to understand disclosures for consumers. The new disclosure requirements, also referred to as Know Before You Owe, were developed by the Consumer Financial Protection Bureau (CFPB) to help consumers understand the loan terms, loan features, and charges to facilitate shopping for loans they were considering. Two new disclosures, the Loan Estimate and Closing Disclosure, replaced the existing Good Faith Estimate, Initial TIL Disclosure, Final TIL Disclosure and Settlement Statement. Lenders were unaware of the severity of the storm coming over the horizon.Despite the entirety of the mortgage origination industry focusing its efforts on defining the origination requirements of TRID, the secondary market was left to focus on defining the liability surrounding these new disclosure obligations that was not abundantly clear, specifically attempting to quantify the risk that the investor may face in the event that investor purchased a loan that contained a violation of TRID. The uncertainty surrounding the potential liability was compounded by the extreme scrutiny being placed on the disclosure timing and content that resulted in the perfect storm of compliance exceptions being identified on loans evaluated for secondary market acquisition. The loans being reviewed were evaluated under a microscope with every misstep by the originating lender rendering an exception on the loan cited by the third-party review (TPR), firms as a material exception that required remediation, if remediation was available. It was more than a single rogue wave. The market liquidity for residential loans slowed to a standstill as aggregators, TPR firms, creditors, lawyers, and rating agencies tried to distinguish between significant compliance exceptions and others that could be included in securitizations. Anyone on the boat at that time was sure to put on their life jacket while bracing against the waves and winds that effectively stopped forward progress and threatened to capsize the market. As a result, the Structured Finance Industry Group (SFIG), the trade association to the capital markets, through the SFIG RMBS 3.0 due Diligence, Data and Disclosure Workgroup took on the challenge of tying each and every provision of TRID to the specific liability provision of TILA with the primary goal of creating a uniform testing standard as a result of a consistent Truth-In-Lending Act liability interpretation according to their understanding of prevailing legal precedent and informal written guidance and webinars offered by the CFPB, as it applies to the Know Before You Owe/TILA RESPA Integrated Disclosure Rule.This workgroup included individuals representing prominent law firms, TPR due diligence companies, rating agencies, issuers, and other industry participants. This SFIG effort resulted in the first version of the RMBS 3.0 TRID Compliance Review Scope© published on June 15, 2016, understanding that the conclusions set forth therein do not necessarily reflect how courts and regulators, including the CFPB, may view liability for TILA violations presently, or in the future. The first version of the SFIG TRID Compliance Review Scope proved to be the catalyst that the secondary market needed to confidently commence purchasing loans subject to TRID, providing much needed liquidity to the origination market. Since June of 2016, the rating agencies, TPR firms, and the capital market investors have confidently followed the SFIG TRID Compliance Review Scope effectively placing the private label securitization marketplace back on a strong footing.On October 18, 2018, the SFIG RMBS 3.0 Due Diligence, Data and Disclosure Working Group published an updated version to the RMBS 3.0 TRID Compliance Review Scope© (v2) based on the Amendments to Federal Mortgage Disclosure Requirements under the Truth in Lending Act (Regulation Z) as published in the Federal Register [82 FR 37656] on August 11, 2017, (with an optional compliance date of October 10, 2017, and a mandatory compliance date of October 1, 2018), the updates related to the Black Hole that were effective June 1, 2018, and the Economic Growth, Regulatory Relief, and Consumer Protection Act enacted on May 24, 2018. The RMBS 3.0 TRID Compliance Review Scope v2, as it reflects the amendments made by TRID 2.0, have included additional clarity. The guidance and clarifications made by the CFPB, with TRID 2.0 and the subsequent Black Hole Amendment, effectively reinforced the risk previously identified by the original RMBS 3.0 TRID Compliance Review Scope©, and now with 2.0, this reduced some testing requirements, reduced the materiality of certain tests, and the addition of a few tests. The impact of v2 will be fewer material compliance exceptions with the associated grading that would have otherwise, previously, prevented loans from being purchased by an investor, whereby the mortgage was targeted for a rated transaction. SFIG, and its membership that participated in the drafting of the original RMBS 3.0 TRID Compliance Review Scope and in the updated v2 scope created a new standard in transparency in aiding the entire mortgage lending industry in translating and navigating the complicated mortgage lending regulatory regime with an eye toward building confidence in the secondary market ensuring that high quality mortgages can make their way into rated securitizations, thereby providing the necessary liquidity to the marketplace, and making homeownership a reality for more consumers. Although over two years passed between the initial version of the SFIG RMBS 3.0 TRID Compliance Review Scope and the recently published v2, further refinements will be forthcoming in 2019, as SFIG continues the ongoing standardization of the TRID review scope while incorporating additional feedback from market participants, CFPB enforcement actions, regulatory clarifications, or caselaw. The v2 scope document is part of the ongoing output of the SFIG work groups to bring consistency to the due diligence reviews performed as part of securitization reviews.   In addition to working with market participants, SFIG is actively working directly with the CFPB to share the concerns and impediments to future securitizations based on regulatory uncertainty to attempt to obtain regulatory updates as well as informal guidance to ensure compliant loans are flowing into ongoing securitizations to foster a robust private label securitization for RMBS transactions. There is a common reference regarding the calm before the storm, but the real calm comes after the storm has been faced. One would be remiss to think only smooth sailing lies ahead, but the winds have shifted and with the breeze at our backs and smooth water ahead, the SFIG workgroup strives to see the private label securitization of RMBS under full sail.  Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago January 17, 2019 3,934 Views About Author: Scott McNulla John V. Levonick is special counsel in the Financial Services Practice Group of Pepper Hamilton LLP’s, New York office. His practice focuses on consumer financial services regulatory compliance and technology. Specific areas includeconsumer lending asset origination, servicing, and asset purchase and sale transactions; and assisting creditors, servicers, investors, and service and technology providers with regulatory issues. Home / Commentary / A Closer Look at TRID The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily center_img Demand Propels Home Prices Upward 2 days ago in Commentary, Daily Dose, Featured, News, Servicing The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Scott McNulla is Director – Regulatory Compliance at American Mortgage Consultants, (AMC). He is responsible for leading the Regulatory Compliance team and ensure the systems continue to provide accurate results and the operations staff are trained and prepared to provide top tier residential mortgage compliance reviews to clients. mortgage RMBS TILA-RESPA TRID 2019-01-17 Donna Joseph The Best Markets For Residential Property Investors 2 days ago Subscribe Previous: What Will Affect Home Appreciation in 2019? Next: Statute of Limitations and Demand Letters in the Sunshine State Share Save Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: John V. Levonicklast_img read more

Economists: More Rate Cuts on the Way

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Economists: More Rate Cuts on the Way Servicers Navigate the Post-Pandemic World 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Best Markets For Residential Property Investors 2 days ago Economy Federal Reserve Interest rates 2019-09-10 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, Market Studies, News Home / Daily Dose / Economists: More Rate Cuts on the Way Tagged with: Economy Federal Reserve Interest ratescenter_img Sign up for DS News Daily Related Articles Interest rates are likely to be cut again, according to a survey from Bankrate, meaning the first interest rate in around a decade earlier this year may be just the start. According to Bankrate, despite Fed Chairman Jerome Powell’s previous statements, economists are not convinced that another rate cut is unlikely.According to Bankrate’s survey, 67% of economists believe the Fed will make two or more cuts, while 14% predicted one more. Additionally, another 10 percent predict rate cuts as well as the return of quantitative easing.The likelihood of more rate cuts is due in part to a deteriorating economic outlook. Ninety percent of economists in Bankrate’s survey said that the risks to the outlook were tilted toward the downside, up from 80 percent in the second quarter.“The question we keep asking ourselves is, how many more blows can this aging business cycle take?” Bernard Baumohl, Chief Global Economist at the Economic Outlook Group told Bankrate. “We expect the economy will barely avoid a recession next year, and the consumer should get credit for that. But the escalating trade dispute, along with the havoc it has caused to supply chains and how it dampened economic growth worldwide will all be with us — at least until 2021.”Powell, on the other hand, has described the economic outlook as “favorable”. During the Fed’s post-meeting press conference on July 31, he stated that the 25-basis-point reduction was largely meant to keep it that way at a time when a number of uncertainties are threatening the outlook.Bankrate’s survey also revealed that economists see a recession on the way. According to survey respondents, there is a 41% chance of the U.S. entering into a recession by November 2020. However, there is little chance of hitting a rough patch anytime soon, as economists also predict continued employment and wage growth.“The economy has been chugging along, with low unemployment and rising incomes. But 90 percent of the economists polled see the risks as tilted toward the downside,” said Bankrate Chief Financial Analyst Greg McBride in a note to consumers. “Heed the warning and stabilize your finances now. Boost your savings, pay down and pay off high-cost debt to create some breathing room in your budget that may come in handy whenever the economy slows and your income is reduced.” September 10, 2019 964 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save About Author: Seth Welborn Previous: FHA Loans to be Focus of Next Webinar Next: Hurricane Season Hitting its Peak  Print This Post Subscribelast_img read more

Justice Markandey Katju To Depose In UK Court Against Nirav Modi’s Extradition To India

first_imgTop StoriesJustice Markandey Katju To Depose In UK Court Against Nirav Modi’s Extradition To India LIVELAW NEWS NETWORK9 Sep 2020 11:58 PMShare This – xJustice Markandey Katju, a former judge of the Supreme Court of India, will depose as a witness in a court in the United Kingdom against the extradition of fugitive economic offender Nirav Modi to India.Confirming this to LiveLaw via e-mail, Justice Katju said that he will testify in the court proceedings before London’s Westminster Magistrates’ Court tomorrow via video…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginJustice Markandey Katju, a former judge of the Supreme Court of India, will depose as a witness in a court in the United Kingdom against the extradition of fugitive economic offender Nirav Modi to India.Confirming this to LiveLaw via e-mail, Justice Katju said that he will testify in the court proceedings before London’s Westminster Magistrates’ Court tomorrow via video conferencing.While clarifying that he will not speak before the court anything on the merits of the criminal case against Nirav Modi, Justice Katju said that he will oppose the Government of India’s plea for extradition on the ground that he was unlikely to receive a “free and fair trial in India”. The written submission filed by him in the case states that Modi was subjected to “media trial” in India and that in such a “hostile atmosphere”, he was unlikely to receive a free and fair trial in India.Katju also referred to the public comments made by Union Law Minister Mr. Ravi Shankar Prasad against Mr. Nirav Modi, and asked how will the Indian courts try the case independently when the Law Minister has already declared him guilty.In this connection, he opined that the judiciary in India was not independent and was subservient to the Government. He told that in his submissions, he has cited many instances to support his claim that the Indian judiciary was “committed to the Executive”, such as the 2018 press conference of the judges, Ayodhya verdict etc.He said that he will tell before the UK Court that Nirav Modi is likely to be made a “scapegoat” by the Indian Government for the drop in economic growth.Diamond merchant Nirav Modi is facing accusations of committing offences under the Prevention of Corruption Act, the Prevention of Money Laundering Act, Indian Penal Code etc in relation to the Rs.13,000 crore Punjab National Bank scam.After the reports of the scam surfaced in February 2018, Modi fled India in May 2018, along with his relative Mekul Choksi.In March 2019, he was arrested in London by UK police at the request of Indian authorities. The UK Court has denied him bail, and extradition proceedings are progressing there.Earlier, a controversy had occurred after Union Law Minister Ravi Shankar Prasad alleged that Justice (retd) Abhay Thipsay, former Judge of the Bombay and Allahabad High Court, was trying to save the fugitive diamantaire from being extradited to India.Responding to this, Justice Thipsay told LiveLaw that he had only given an independent legal opinion to Modi’s firm that charges of cheating will not stick against him as per the chargesheet prepared in the PNB case.”The main allegation was that he cheated the Punjab National Bank and I found that the case was not made out as the PNB officials were hand in glove as per their own case and there was nobody who was deceived. As per Indian law, somebody needs to be deceived before a case of cheating is made out. There has to be deception on the victim and the victim thereby parts with the property. Suppose the PNB officers were deceived and they issued LoUs (letters of understanding) then of course there could be a case of deceit depending on other factors. But here they knowingly committed a breach and that was the allegation, they were arrested by some corrupt inducement for that. That was the gist of the opinion”, Thipsay said.Next Storylast_img read more

Homecomings: A season for churches

first_img Book Nook to reopen Pike County Sheriff’s Office offering community child ID kits You Might Like Troy Council considering budget, personnel policies before next meeting Troy’s 2014 budget and updated policies and procedures for personnel will be on the minds of Troy City Council members… read more “Home is a special place to all of us,” Lowery said. “Church home is equally so. Think of the many experiences you’ve had at church, involving all the different people around you. Whether you’ve stayed in the church or life took you elsewhere, the memories that you have made with fellow members are precious.“On Homecoming the hope of rejoining some of your fellow members and sharing these memories is exciting.”The opportunity to gather, once again, with those who are or were a part of the church family is the reason for homecomings.And, it’s also a time to look back on the life of the church and give thanks for those who laid the foundation on which Homecomings stand. Remember America’s heroes on Memorial Day The Penny Hoarder Issues “Urgent” Alert: 6 Companies… Latest Stories Lowery said Mt. Moriah, like so many early churches, had a humble and earthy beginning.The early church began under a brush arbor on Sept. 18,1868. The pews were made of boards placed across logs. There were few creature comforts for those who worshipped under the brush arbors and in the early primitive-type churches.Much like the moves of most of the historic churches, Mt. Moriah moved from the brush arbor into the Old Prospect Church building and later into an old school building. Mt. Moriah was finally able to purchase an old Primitive Baptist church building for $10 and an acre of land for $2 becoming permanently located on its present site.“Homecoming honors the memory of those of past generations who served and labored to make these moments in time possible,” Lowery said of today’s church homecomings. “At Mt. Moriah, we should enjoy what the Lord has provided and give thanks for the service of Christian servants preceding us for the past 145 years.”The guest speaker for Mt. Moriah’s Homecoming service will be the Rev. Orris Sanders. A musical concert by Jason Clifford will be presented at 10 a.m. All church members and friends of the church are invited to attend. Sponsored Content By The Penny Hoarder Plans underway for historic Pike County celebrationcenter_img By Jaine Treadwell Email the author Print Article Troy falls to No. 13 Clemson Homecomings: A season for churches To everything there is a season.Church homecomings are not usually thought of as a season but most are seasonal.Why so many churches choose fall/autumn as the time for their homecomings has not been the subject of many doctoral dissertations. But, nevertheless, church homecoming season is here and now.Mt. Moriah Baptist Church will celebrate Homecoming on Sunday with a traditional Southern fellowship lunch to follow. Published 11:00 pm Tuesday, September 10, 2013 Next UpMt. Moriah Baptist Church will celebrate Homecoming on Sunday with the morning worship service at 10:50 a.m. and a traditional Southern fellowship lunch to follow.In the coming weeks, many more area churches will celebrate Homecoming and each will be looked forward to with great anticipation by members and former members and friends of the church.The Rev. Mack Lowery, Mt. Moriah church pastor, said church Homecomings are special days. Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthTop 4 Methods to Get Fortnite SkinsTCGThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

The shape of things to come

first_imgThe shape of things to comeOn 5 Jun 2001 in Personnel Today Expertshave been predicting a vast change in the face of UK business, with peoplegetting older and more woman and immigrants in the workplace.  But if the past decade is anything to go by,what will really happen?  Jane Lewisasks business leaders for their viewsStephenBevan, Associate director, Institute of Employment Studies”Theway that work has changed has been overstated. If you look at figures from themid-1970s, the average time spent in a job was five-and-half to six years, nowit’s around five years. Self-employment peaked in the 1980s and has in factcome down. “Althoughthere has been a 20 per cent increase in teleworking since last year (with 6million people now working remotely), most people still want a traditionalworking framework. So while there has been a shift at the edges, the mainstreampicture hasn’t changed much.”Lookingahead, the big overview is continuity, but there will be significant marginalchanges. At the moment, the market is very buoyant, but if the economy getsworse, we’ll see less mobility. The whole work-life balance debate will becomemuch more important.”Inthe next 10 years, 80 per cent of new jobs created in the economy will be forwomen, yet the majority of women are now giving birth to their first child in their30s, so that’s going to lead to a lot of high pressure. “Inthe past few years, there has been a rapid reduction in the economicparticipation of men over 50 but for women over 50, the rate has gone up. Andwith a much higher proportion of people living until they are over 85, theother thing that has come up on the rails quietly is ‘elder care’, which is apotential time bomb. We’ve spent the past 15 years worrying about employeeslooking after their children, but this is a completely different ball game andmost employers aren’t doing anything about it.”Inthe next decade only a minority of the workforce (20 per cent) will be white,able-bodied men under 45, so diversity won’t be a choice for employers, it is anettle they are going to have to grasp now.”Theinfluence Europe will have will be a rise in social partnership with employeerepresentative bodies. Most trade unions in the UK are keen to develop a moreformal role in organisational change and communication. That said, it isunlikely a future Conservative government would sign up to something like theBusiness Directive on Consultation, and the emphasis would switch again togreater deregulation.”DavidNorburn, Dean of Imperial College, London”Wheredo I stand on the immigration debate? Well, I would export all our low-valuepeople and bring in as many high-value people from outside as possible. “Jokingapart, we need these high-value people – and we need them now. I see nothingbut benefit from the move, because the greater wealth these people wouldgenerate would trickle down to others.”Theproblem, of course, is the political/social side of this. If you happen to bean unskilled, uneducated BNP voter and you see a highly skilled non-Brit takingyour place, you are going to be aggrieved. Take Hong Kong for example. Here wehad huge numbers of high-value, high-tech people who wanted to come to Britain inthe aftermath of the handover to the Chinese in 1997. The case was made on botheconomic and social grounds. So why didn’t we take them? Because it was toodangerous politically. There is a big societal argument about whether democracyis suitable in such a society any longer. We have to bring the economicargument into it.”Thefigures say there are 1 million people unemployed at present, but the number oflong-term unemployed is much lower. The question is how we go aboutre-motivating and educating them and building up different skills bases. Youhave to ask why the Government continues to support low-value industry with subsidy.”Itis clear that training and development generally is going to be a massive newindustry. The idea that you emerge fully formed at 21 is laughable – in anenvironment of much greater flexibility, people will have to learn new tricksand skills throughout their careers. I think we’ll see a whole series ofalliances between brand names such as Oxford, Cambridge and Imperial, and massdistributors such as Murdoch and Sony.”PeterRobinson, Senior economist, Institute for Public Policy Research”Currently,the scale of the skills shortage across the whole of the UK economy issurprisingly muted compared with the economic cycle we are at. It’s much lower,for example, than at the end of the Lawson boom in the 1980s. “Butpeople have short memories. The ultimate sign of a real skills shortage is highwage inflation — and that isn’t happening. Certainly the gap betweenmanagement salaries and [blue/white-collar] pay is widening. But that’s down toa different trend that has been continuing for some time.”Thesafety valve of bringing in skilled immigrants has always played a role andshould continue to do so. But we’re talking about tens of thousands of people,and that’s relatively small beer. The EU decision [to restrict the movements ofworkers from new Eastern European member states for up to seven years afterthey join] is a panic-driven step – and anyway affects border states such asGermany and Austria much more than here.”TheUK workforce will continue to evolve in the same way as the past 20 years.Again, specific trends have been over-estimated. For example, the proportion ofthe workforce that is female (45 per cent) has plateaued since 1993, and bothself-employment and homeworking have fallen. As long as you can avoid the kindof severe economic shock that we saw in the early 1980s (when there were hugelosses in manufacturing jobs), the labour market tends to evolve over time andthe supply side adjusts to meet it.”Manufacturingwill continue to edge down as a proportion of total employment. But the highexchange rate has exaggerated job losses in this sector – if the pound camedown, these losses would be more modest. “Ithink the direct impact of the US downturn on the overall economy is likely tobe muted, it depends what impact it has on the overall economy. But confidencein the UK is currently high. On the whole, I am sanguine about thefuture.”GraemeLeach, Chief economist, Institute of Directors”Peopleoften forget how very, very traditional the labour market is. Our Tomorrow’sWorld report compiled last year showed that despite the predictions of 20 yearsago, the proportion of flexible working/homeworking is still relatively small.But undoubtedly the trend is moving in that direction, and the speed of thechange is quickening. There has certainly been a shift in attitudes among bothemployers and employees. When we asked companies if flexible working wasworking for them, two-thirds said yes. And, for many, cost is certainly animportant factor likely to accelerate the pace of change, as are changes inpeople’s home lives.”Interms of long-term change, I would predict a rise in the ‘contingentworkforce’. At the moment, the core workforce stands at about 90 per cent but Ithink that will shrink to about 70 per cent, as companies look to devolveadministrative functions that take up huge resources. We’ll see a rise in thenumber of people working short-term contracts.”Therewill always be a skills shortage in certain areas that can be met from outsidethe country. The IoD argues that the education system is failing – we’d like tosee more choice and competition. If forthcoming education reforms aren’tcompetitive enough, companies will naturally want to look elsewhere for theseskills.”AminRajan, Chief executive, Create”Willit be a case of more of the same over the next 20 years? Well, yes and no, saysthe author of Britain’s Flexible Labour Market: What next? “Ifyou were to take a snapshot of the market you would see a gradual continuanceof historical trends – the number of white-collar jobs will continue toincrease, as will the number of female employees and ‘job insecurity’ willremain a main preoccupation.”Butupon closer inspection, there is huge change. First, the nature of work itselfis changing. Job descriptions will become very fluid — agility will be thename of the game, and the winning mind-set will be the one that copes withuncertainties and ambiguities.”Second,we’re going to see a greater casualisation of jobs at the lower end. The onlypeople prepared to do jobs like refuse collection that are highly underpaid andrequire long hours will be illegal immigrants. Employers are increasinglyresorting to this pool of labour. The whole issue of asylum is not reallypolitical: it’s fundamentally about economic migration. The manager of afive-star Kensington hotel told me that 95 per cent of the people who workthere are illegal immigrants. This hidden economy is going to get bigger —there’ll be a lot of people hidden from the statistics. “Third,we’re going to see a tremendous segmentation in the labour market between ruraland urban and inner-city areas.”Onestable trend is full employment. There’ll be no more boom and bust — we’re notgoing to see 8 or 9 million unemployed as we did in the past. I was on the Treasuryeconomic advisory board under both Healey and Lawson, and think policy-makersnow are better at managing economies — there aren’t so many sharpcurrents.”WyndhamLewis, Chairman, Strategic Planning Society’s People, Work and ChangeThink-tank “Toa large extent, you can trace employment trends to what was happening 10 yearsago (for example, there’s a shortage of chartered surveyors at the momentbecause of the slowdown in house prices a decade ago) – people follow the cash.At present, there’s a surfeit of web designers, but hardly any engineers. Ithink the former group is going to find it very hard going over the next fiveto 10 years.”Immigration’sgot to become a greater issue given the greater movement of capital. It’salready happening in an outward way – virtual corporations are moving all overthe world. But there’s a fundamental problem in the approach of governments –they encourage the free move-ment of capital, but they won’t allow people thefreedom to follow it.”There’sdefinitely a racial bias in the UK’s immigration policy – and this is played upby the media. At the end of apartheid in South Africa, the Government was verywilling to grant many [white] South Africans passports, but markedly lesswilling to do the same for the Hong Kong Chinese. The highest projection forthe UK’s ethnic population is 15 per cent.”Idisagree that the future pattern is one of stability. The economy will remainvery cyclical in nature – there’ll always be boom and bust. And I think there’sa definite trend towards greater social inequality, both in the UK and acrossthe world. We’re going to see two very distinct tiers of workers: those withlower skills who will have to compete on wages, and higher-level workers, ableto travel, who will be able to command what they ask. What should theGovernment do about this? Apart from providing the best possible education forthe country, not much. If you try and create equality, you just createinequality in other areas.”RichardReeves, Director of futures, Industrial Society”Becausethe ‘revolution in the workplace’ keeps getting proclaimed and never seems toarrive, I think there’s a cynicism developing that nothing’s going to change.Certainly the information and communications revolution has remained marginalin terms of the way we work – people still go to the office, sit behind a deskand deal with in-trays.”Theanalogy I draw is the introduction of electricity. When it first arrived infactories, people continued to cluster machines where the old steam engines hadbeen – it took a long time before someone realised that this electricity stuffwent along lines. There are signs that people are getting more confident aboutmobility at work. Employers need to learn that you can trust people to do theirjobs properly without being quite so rigid. Scott Adams talks about reversetelecommuting: you come into work to do your admin – to pay your bills ande-mail your Mum — the real work gets done at home.”Akey trend is the emergence of a highly skilled group of people (typicallyinvolved in the creative industries, ICT and knowledge) who are sceptical aboutemployers’ promises of security. Very individualistic and relativelybattle-hardened, they’re the ones companies are having trouble attracting.”Butwork is also becoming an increasingly important part of people’s overallidentity. One in three people say they’ve made good friends through work andhalf of us meet our life partners. Work is increasingly about community,identity and friendship. It is almost a post-economic definition of work – ‘Iam what I do’. Individuals are already feeling this, employers need to catchup.” Comments are closed. Related posts:No related photos. 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