Stimulus Could Help Keep American Economy ‘Afloat’

first_img Servicers Navigate the Post-Pandemic World 2 days ago 2020-10-22 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago October 22, 2020 1,271 Views  Print This Post A couple of articles published this week on Axios.com, a provider of technology, economy, and political news, take a lesser-seen optimistic approach to matters including a recent report about millions of Americans missing mortgage and rent payments and news about Congress’ failure to pass an updated stimulus bill.Axious Markets editor Dion Rabouin allows that, indeed, six million Americans last reported month were behind on a mortgage/rent bill, however, he notes, the Mortgage Bankers Association (MBA), which initiated said study, also showed that 3.4 million homeowners were enrolled in federal forbearance programs the same month.To further put things in perspective, data on lower-income rental units show lower payment rates, but at numbers that are broadly in line with 2019, MBA’s Michael Fratantoni told Rabouin.Fratantoni went on to say that, “… six months ago I would’ve expected to see much more distress, particularly on the rental side.”In short, wrote Rabouin, “Government forbearance programs are keeping homeowners afloat.”In a deeper dig, the author goes on to offer evidence that “the stimulus delay isn’t a crisis (yet).””If the impasse between House Speaker Nancy Pelosi and the White House on a new stimulus deal is supposed to be a crisis, you wouldn’t know it from the stock market, where prices continue to rise,” wrote the Markets author.For that, he credits the $2 trillion CARES Act and the American people’s uncanny “ability to save during the crisis.” (In addition, Americans’ credit scores also have improved.)DS News also reported that the spring stimulus check went largely toward mortgage, rent, and household expenses.Rabouin goes on to back up the idea that Americans benefitted from the first round of relief, and that, as David Wilcox, Senior Fellow at the Peterson Institute for International Economics, told Axios, “The CARES Act worked. It delivered a massive amount of financial support and put a huge financial safety net under families very quickly.”By the numbers, from the Axios article:The median jobless worker received unemployment benefits “equal to 145% of their pre-job loss wages, compared to 50% in normal times” thanks to the CARES Act’s $600-per-week unemployment supplement, a report from the JPMorgan Chase & Co. Institute found.Additionally, the creation of special pandemic unemployment programs allowed millions more out-of-work Americans to access jobless benefits, which amounted to 7% of total personal income in June — a record far exceeding the 1.3% peak during the Great Recession.Unemployed Americans “roughly doubled their liquid savings over the four month period between March and July 2020.” The report notes, however, that they “then spent two-thirds of the accumulated savings in August alone.”The results: The percentage of people who said their ability to afford household goods had improved was the highest since early June in the latest Axios/Ipsos nationwide poll, tied for the best since the survey began in March.Not all of the data is so cheery. The reporter cites a study that shows poverty and food insecurity increasing in households with children.While the economy has held up unexpectedly well, he wrote, the latest jobs report is showing signs of strain.  He returns to the MBA’s Fratantoni, who says a new stimulus bill, at worst, would be a “form of insurance on the recovery.””If you’re a policymaker,” Fratantoni told Rabouin having that insurance or risk management mindset makes a lot of sense right now.” About Author: Christina Hughes Babb Share 1Save Previous: CFPB Addresses Regulating Consumer Access to Financial Data  Next: A Community Blight Nightmare? The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Related Articles Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Stimulus Could Help Keep American Economy ‘Afloat’ Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, Market Studies, News Stimulus Could Help Keep American Economy ‘Afloat’ Subscribelast_img read more

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Payments group urges action on CUNA-backed breach bill

first_imgThe Electronic Payments Coalition, of which CUNA is a member, wrote to U.S. House leadership Tuesday to urge advancement of data security and data breach notice legislation.The Data Security Act of 2015 (H.R. 2205), addressed in the letter and strongly supported by CUNA, passed the House Financial Services Committee in December by a 46-9 vote. H.R. 2205 has also been referred to the House Energy and Commerce Committee, where it has not been considered.“It is time to protect consumers’ personal data by putting in place a national security standard,” the letter reads. “That is why we ask Congressional leadership to engage both the Energy and Commerce Committee and the Financial Services Committee to enter into a constructive dialogue with each other to advance comprehensive data security and breach notice legislation that works for all interested parties.”H.R. 2205, sponsored by Reps. Randy Neugebauer (R-Texas) and John Carney (D-Del.), contains the principles that CUNA believes must be present in any data breach legislation. continue reading » 10SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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Ronaldo injured as Portugal held by Serbia

first_img0Shares0000Cristiano Ronaldo has scored 85 goals in 155 appearances for Portugal © AFP / PATRICIA DE MELO MOREIRALISBON, Portugal, Mar 25 – Captain Cristiano Ronaldo left the field with a thigh injury as Portugal drew 1-1 against Serbia in an Euro 2020 qualifier on Monday.Ronaldo was replaced after 30 minutes in Lisbon as Fernando Santos’ reigning European champions drew for a second time in their opening two games of the campaign after they were held by Ukraine on Friday. There was no word whether the five-time Ballon d’Or winner would be fit for to play for his club Juventus in the first leg of their Champions League quarter-final at Ajax on April 10.William Carvalho wasted the best of the early chances at Benfica’s two-thirds empty Estadio da Luz.Serbia failed to clear the ball in the box before it fell to the unmarked Real Betis midfielder who’s side-footed shot glanced past the post after five minutes.Ajax playmaker Tadic opened the scoring from the penalty spot two minutes later.Wolves goalkeeper Rui Patricio collided with an advancing Mijat Gacinovic in the box and Tadic tucked the spot kick away with ease to take a shock lead over the Euro 2016 winners.Ronaldo was denied an equaliser two minutes later as his effort was very well saved Marko Dmitrovic.The 156-time international left the field on the half hour mark after he pulled up chasing a ball on the left wing.He received quick treatment from members of the medical team before returning to action but was replaced by Pizzi minutes later as Pepe took over the skipper’s armband.The visitors were level with three minutes of the first half to play.Porto’s Danilo Pereira hammered his shot from outside the box into the top corner past a helpless Dmitrovic.Carvalho should have put his side into the lead 25 minutes into the second half.Guerreiro chipped a cross to the back post, Bernardo Silva then played it into the middle of the box but Carvalho couldn’t make a solid enough contact with the ball to challenge Dmitrovic.Fernando Santos’ outfit were denied a second penalty on 73 minutes after the linesman overruled referee Szymon Marciniak’s original decision for off-side.The hosts pressed on for the winner in the closing ten minutes but Mladen Krstajic’s outfit defended stubbornly to claim a point in their first game of the campaign.Next for Portugal is a Nations League semi-final against Switzerland on June 5 and Serbia travel to Kiev in a Euro 2020 qualifier two days later.0Shares0000(Visited 1 times, 1 visits today)last_img read more

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UN funding for African ‘green’ projects

first_img8 March 2010The United Nations Environment Programme (UNEP) has partnered with South Africa’s Standard Bank and the German government’s International Climate Initiative to develop a new carbon project as part of the fight against climate change.The Africa Carbon Asset Development (ACAD) is the first facility dedicated to boosting the African carbon market, and will support continental projects through a combination of technical assistance, grants and preferential access to corporate finance and transactional guidance.ACAD takes a new approach toward capacity and market development, sharing costs and risks with African banks such as Standard Bank to realise and replicate projects.“Huge investments, especially in Africa, will be needed if we are to minimize the effects of climate change,” Sylvie Lemmet, director of UNEP’s Paris-based Division of Technology, Industry and Economics, said in a statement last week.“Government investment alone will not be enough. ACAD is a good example of how we can attract much-needed private capital for investments that address climate change.”Removing investment barriersOne of the key challenges Africa faces is in removing investment barriers to low-carbon sustainable development. Combined with traditional debt or equity finance, carbon finance is a promising means of attracting funding for energy and infrastructure projects; and it is here that ACAD can help.The ACAD partnership couples UNEP’s longstanding capacity building expertise in environmental policy and finance with the financial know-how and regional reach of Standard Bank.“We are keen to bring our global experience on carbon finance back to our roots in Africa and to combine it with the leading technical expertise of UNEP and its Risoe Center,” said Standard Bank Carbon Sales and Trading head Geoff Sinclair.“Our objective is to collaborate with local companies and investors to bring Africa to the forefront of the carbon markets and we look forward to working with everyone to achieve this.”‘Green’ development projectsACAD has recently awarded its first grants to innovative “green” development projects in Kenya, Nigeria and South Africa. These include:The Lake Turkana Wind Power Project in Kenya, one of the largest renewable energy generation projects on the African continent to have achieved financial closure. ACAD will provide partial payment for validation costs under the Clean Development Mechanism – the UN carbon credit scheme;The Lagos Waste Management Authority in Nigeria which is developing several waste-to-energy sites. ACAD is supporting the costs of engineering and carbon auditing studies required to earn carbon credits; andThe Athi River Mining (ARM) Company, which operates a cement plant in Kenya and is attempting to reduce coal consumption in a cement plant by using locally available biomass resources.“As we are continuously working to improve our environmental footprint, Athi River Mining appreciates the technical and financial support provided by the new ACAD Facility to get this project off the ground,” said ARM managing director Pradeep Paunrana.“We will look to the lessons of this project for further energy and cost savings across the company.”SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more

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Should mosquitoes be eliminated?

first_imgShare Facebook Twitter Google + LinkedIn Pinterest A Purdue researcher and a team of scientists working on a new insecticide argue that mosquitoes should not simply be made extinct due to their role in various ecosystems.Catherine Hill, a professor of entomology, and her team are developing an insecticide that will suppress mosquitoes’ ability to transmit diseases without killing the insect or interfering with other life forms. The team is based in Discovery Park, a research park dedicated to using interdisciplinary teams to solve global problems. Hill’s research was one of the winners of Discovery Park’s Big Idea Challenge, a program that provides resources to interdisciplinary teams with innovative research.“For the last 20 years I’ve been trying to figure out how to kill mosquitoes, and then I had this epiphany where, morally, I’m just not OK with it anymore,” she said.There has been a lack of research in preserving mosquitoes because researchers have looked mostly at ways to eradicate them. Therefore, Hill thinks it is essential to consider all the possible effects of wiping out an organism that has existed for thousands of years. She points out that mosquitoes have co-evolved with many species, so there are likely other organisms that depend on them as a food source.Along with her non-lethal pesticide research, Hill also participates in research to create insecticides that overpower a crucial chemical for locomotion behavior, development learning and memory known as dopamine. This eventually results in the death of the insect. Although this method is often effective in killing mosquitoes, Hill decided to produce an insecticide that would affect the biology of the mosquito so that it would be unable to transmit to another host, thus sparing the insect’s life.During her years of research, Hill says she began to find mosquitoes to be amazing and beautiful organisms, and began to better understand that their removal could have an effect on the environment. She points out that mosquitoes are “a large part of the biomass in many ecosystems.”While mosquitoes are in their aquatic stage, they serve as a food source for fish and predatory insects. During this stage, mosquitoes also serve as filter feeders, which results in organic matter being turned over, making them excellent converters in an ecosystem.In their terrestrial stage, mosquitoes serve as food for birds, bats, salamanders, lizards, frogs and other animals. According to Hill, there are particularly massive numbers of mosquitoes in Alaska and near the Arctic Circle, and it could potentially be dangerous to take away mosquitoes from that food chain.“To yank [mosquitoes] out abruptly, I don’t know what that does,” Hill says.According to Hill, there are several thousand species of mosquitoes worldwide, with only a small percentage of those species carrying diseases. Researchers know very little about the species that do not transmit disease, so this leaves a lot of unanswered questions concerning what would happen if mosquitoes were wiped out.“You pull one little piece and start to unravel it, and things happen,” says Hill.An interesting fact about mosquitoes that Hill discovered is that “they sing to each other.” The wings of mosquitoes beat at varying frequencies, and it is thought that female mosquitoes use the frequency of the male’s wings to choose a mate. Once the male and female locate one another, their frequencies harmonize.Although Hill wants to find an insecticide that can spare the life of the insect, she says that research is still being done to improve the effectiveness of insect-lethal insecticides. Due to the increasing threat of vector-borne diseases, a conventional pesticide would need to be administered if the research for a non-lethal pesticide proves unsuccessful.last_img read more

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Ohio Ag Weather and Forecast — March 5, 2018

first_imgShare Facebook Twitter Google + LinkedIn Pinterest 180305_RyanMartinNot a bad start to the week. It’s a little chilly, but we have a nice batch of sun once again. Do not be deceived, though: this week will feel much more like winter than spring. A strong storm complex moving out of the northern plains this morning, tracking across the upper Midwest and Great Lakes, bringing some moisture and significantly colder air to the region. In fact, we will spend most of this week below normal on temps over a majority of Ohio.So, running through it, we start with plenty of sunshine across the state today. Winds will slowly move more to the southeast this afternoon and should increase in magnitude which may allow for a few more degrees on the topside of our temperatures than what we saw this past weekend.Clouds thicken up tonight and we see scattered precipitation breaking out over the state after midnight. With the timing, we think it is likely that most of the precipitation starts as wet snow, except southwest Ohio. We can see light, wet snow through sunrise Tuesday morning, and there can be some rain or sleet mixing in south of I-70. Moisture availability is such that we don’t think there will be much accumulation, but perhaps we see a fresh coating in some spots north of I-70 on cars and grassy surfaces. Liquid equivalent precipitation will only be a few hundredths to a tenth or two with coverage no better than 60%. The biggest issue will be the speed at which the cold air comes rushing in.The cold air looks to park over Ohio for most of the rest of the week. Cold dominates tomorrow, Wednesday and Thursday at least, and there is a chance we don’t really even get to break free on Friday. The map above shows temperatures compared to normal at midday on Thursday. With the cold air tomorrow night and Wednesday, we have just a little bit of moisture coming back that can trigger some light snow and flurry action over 60% of the state. We think we can see a coating to an inch or two in a large chunk of Ohio, and in NE Ohio, we can see 2-4” in lake enhancement areas. The snows for midweek look better here than to our west, and that is a testament to the cold air that sits over the top of us. Wednesday will likely be a day with some travel and weather challenges. Temps will struggle to break the lower 30s tomorrow, Wednesday and Thursday over nearly all of the state. Only far south central Ohio has a chance to run toward 40. Thursday we should see sunshine reappear over western Ohio areas, but we stay chilly right on through Friday.Saturday we see a system working by to the south. This will bring clouds to the southern half of the state, and some scattered showers from I-70 southward. The heaviest rains will be in far south central Ohio, near the river, where we can see up to a quarter of an inch. The rest of areas that see scattered showers will be more like a few hundredths to a tenth or to. The closer you get to I-70, the lesser chance of rain we have Saturday, and north of I-70, we should stay dry. Another surge of rain brings up to half an inch of moisture to southeast Ohio Sunday, but the rest of the state just features a mix of clouds and sun.The rest of our 10 day window looks pretty dry, and south winds moderate temps nicely. We have full sun and dry weather in for next Monday, Tuesday and Wednesday. High pressure will be in place at midweek next week, and should promote sunshine on into the second half of the week. The high may drop temps just a bit for midweek, as it looks to have Canadian origins. But still, it is a big pattern improvement over this week. We do see a significant front in the extended period around the 17th. The low passes by to the NW and that is where the heaviest precipitation will be (in the upper Midwest) but we still think we have to look for .25”-.75” rain potential across Indiana. We follow that up with another stronger storm complex for the 19th into the 20th.last_img read more

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Hockey World Cup 2018: India begin campaign vs South Africa with focus on topping group

first_imgIndia are all set to begin the Hockey Men’s World Cup at the Kalinga Stadium in Bhubaneswar, Odisha with their opener against South Africa on Wednesday at 19:00 IST.India are placed in Pool C alongside Belgium, Canada and South Africa. India will take on Belgium on December 2 and will be up against Canada on December 8.India’s 18-man squad will be shouldering a lot of expectations and responsibilities as they aim to shine bright in a World Cup at home. Sure they will have the crowd behind them and considering it is happening in Bhubaneswar, a lot of crowd but with that comes a huge amount of pressure and it remains to be seen how the team will deal with that.India have won only a single World Cup to date when Ajit Pal Singh and his men gave India their only title back in 1975. Despite being the hockey giants for ages, at the World Cup somehow, India have always faltered.Hockey World Cup 2018: FULL COVERAGE | FULL SQUADS | SCHEDULEOn the other hand, arch rivals Pakistan are the most successful team in the World Cup, having won the tournament four times.Even then, both India and Pakistan have been struggling to live up to their old and golden era while Australia, Spain, Netherlands and Argentina have been soaring high.India’s best performance since the start of the 21st century has been an eighth-place finish that they clinched during the 2010 edition of the tournament, which was held in New Delhi. India finished ninth in the last edition at The Hague, Netherlands.advertisementOn the other hand, the Aussies are bidding to win an unprecedented third straight title.India’s squad for the World Cup is as follows:Coach: Harendra SinghGoalkeepers: PR Sreejesh, Krishna Bahadur PathakDefenders: Harmanpreet Singh, Birendra Lakra, Varun Kumar, Kothajit Singh Khadangbam, Surender Kumar, Amit RohidasMidfielders: Manpreet Singh (Captain), Chinglensana Singh Kangujam (Vice-Captain), Nilakanta Sharma, Hardik Singh, SumitForwards: Akashdeep Singh, Mandeep Singh, Dilpreet Singh, Lalit Kumar Upadhyay, Simranjeet SinghOut of the 18 players in the squad, seven are from the junior World Cup-winning squad, which also clinced the title two years ago in Lucknow under Harendra Singh.Hockey World Cup 2018 Live Streaming: When, Where and How to Watch Online Coverage on Hotstar, Star SportsPlayers like Harmanpreet Singh, Varun Kumar, Sumit, Mandeep Singh and goalkeeper Krishan Bahadur Pathak have been selected in India’s squad.Harendra Singh defended the presence of several junior players saying it’s not a “young team” and they are good enough to creat history.”Constitution gives us the right to marry after 18. So this is not a young team. It’s a team that can create history,” Harendra said on the eve of India’s opening match against South Africa on Wednesday.”You have to have patience. Selectors have considered the young players to be good enough to wear India colours, so we need to be proud of them. Every player in the team understands it. My advice to the players would be to stick to the basics and strategy and consider crowd as 12th man and use their energy,” he [email protected], lays it out that the Indian Team will stick to the basics and put in their best efforts to garner 3 points in their first match of the Odisha Hockey Men’s World Cup Bhubaneswar 2018 against @SA_Hockey. #IndiaKaGame #DilHockey #HWC2018 pic.twitter.com/6SsQDRWw13Hockey India (@TheHockeyIndia) November 27, 2018Citing the example of Ireland, who went on to win the women’s World Cup earlier this year despite being rated as underdogs, Harendra said India first aim would be to top Pool C and qualify directly for the quarter-finals.”Did anyone think Ireland will reach women’s hockey World Cup final and Croatia will make it to FIFA WC final. Every team works on their strategy. It’s about that particular day. We want to top the pool and avoid crossovers because then we will get an extra day and know who we will play in the quarters,” the chief coach said.Coach Harendra Singh is under some considerable pressure after the heartbreak at Asian Games wherein favourites India lost to lower-ranked Malaysia in the semi-final before settling for a bronze medal.Harendra said said that the team has forgotten about Asian Games, learnt from it and moved on.”The hard fact is that all of us have forgotten the Asian Games defeat and you should also forget. We learn from history, gain experience but there is no point recalling it. We took collective responsibility. We don’t talk about it now in our meetings, he said.advertisement”The team has put the past behind them and have assimilated all the learning which they could from their @asiangames2018 experience”, says @HarendraSingh66. #IndiaKaGame #HWC2018 #DilHockey pic.twitter.com/GZtFhKShygHockey India (@TheHockeyIndia) November 27, 2018Ranked 10 places above world no. 15 South Africa, India will go into their tournament-opener as overwhelming favourites.”We understand that the first match is important in every tournament. It releases 40 to 50 per cent of pressure. We want full points from the first match. But for points, we can’t forget and sacrifice the basics of hockey, the strategy,” he said.”We won’t compromise on playing attacking hockey against any team. We want to think ahead of the opponents.”With two matches scheduled for each day, there are significant gaps between matches in the 16-team World Cup and Harendra supported the format, saying it will help all the teams to come out with fresh legs in every game.”I support this format as a coach. Hockey is a fast-paced, result oriented, highly demanding game. It (the gaps) will help us to come out with fresh mind and legs in every match,” he said.Conceding last minute goals has been India’s perennial problem in the last few years but Harendra said it is with all hockey playing nations.”We always discuss India concede last-minute goal to lose. It has happened in the last 4-5 years, including the Asian Games. But that doesn’t only happen with the Indian team. I can give you history where other teams also have lost the same way,” he said.India captain Manpreet Singh too said that their main focus is on topping the pool and avoid cross-overs.”We are not focussing on crossovers. If we top the pool, we should not worry about it. We are focusing on our first match,” he said.”We have improved over the last 3-4 years. Before that we had never won FIH medals but now we have won Hockey World League bronze, then silver at the Champions Trophy (earlier this year). Now it’s the World Cup and we have to show that we have improved at the highest level.(With PTI inputs)Also Read | Hockey World Cup 2018: India hope to end Australia, European dominance in BhubaneswarAlso Read | Hockey World Cup 2018 opens to colourful opening ceremonyAlso Read | India took their eye off the ball: Ric Charlesworth on decline of Indian hockey in 1990sAlso watch –last_img read more

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10 months ago​Nasri set to earn West Ham deal after Wilshere injury

first_imgTagsTransfersAbout the authorFreddie TaylorShare the loveHave your say ​Nasri set to earn West Ham deal after Wilshere injuryby Freddie Taylor10 months agoSend to a friendShare the loveSamir Nasri is getting closer to earning a contract at West Ham United.With news that Jack Wilshere will be out for a while with another injury, the Hammers are speeding up plans to offer Nasri a deal.The veteran has come through a drugs ban and is available on a free transfer.The Evening Standard suggests that boss Manuel Pellegrini wants Nasri to add some creativity to his midfield.The Frenchman has previous Premier League experience with Arsenal and Manchester City. last_img

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