Keller encouraged by US market as European conditions worsen

first_img Show Comments ▼ Monday 17 November 2014 8:59 pm Share whatsapp Keller encouraged by US market as European conditions worsen by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPost FunGreat Songs That Artists Are Now Embarrassed OfPost FunMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorLoan Insurance WealthDolly Parton, 74, Takes off Makeup, Leaves Us With No WordsLoan Insurance WealthThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past Factorycenter_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Crazy Rich Asians’ Director Wishes He Made South Asian Roles ‘More Human’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap GROUND engineering specialist Keller said yesterday its financial performance was ahead of last year’s, but noted that the North American and European markets remained challenging, with order intake slowing over the past few months.During the period covering 1 July to 16 November, the company said revenue and operating profit were ahead of the comparable period in 2013. However, it added that order intake had slowed since a strong first half of contract awards.The company did not release any revenue or profit figures yesterday. In North America, which accounts for around half of the company’s revenue, Keller said the Canadian construction market had not grown as fast as the US market, while European markets remained tough. Joseph Millis whatsapp Tags: NULLlast_img read more

Treasury official Sharon White takes top Ofcom job

first_img whatsapp Tags: NULL whatsapp Wednesday 17 December 2014 3:19 am More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Share Ofcom has appointed Treasury official Sharon White as its new chief executive.  White will join the broadcasting watchdog late March next year, taking over from Ed Richards, who will step down at the end of December. She picks up an annual salary of £275,000. She is currently the second permanent secretary at the Treasury, where she has been since November 2013.  She has held a number of high ranking roles in 25 years of work in the public sector and government, including director general general of public spending at the Treasury and stints at  the Department for International Development, the Department of Work and Pensions and the Ministry of Justice. She has also worked in Washington, the No 10 Policy Unit and the World Bank. Ofcom chairman dame Patricia Hodgson said: “Sharon brings with her an outstanding combination of intellect, political acumen and experience leading complex public organisations. “The Ofcom board is confident that Sharon will provide the leadership and vision to ensure Ofcom continues to promote a thriving communications sector in the UK that operates in the public interest.” Sharon White said: “The communications sector is vital to the economy and delivers essential services to everyone in the UK. I look forward to starting in this fascinating job and building on Ofcom’s considerable track record.”  Show Comments ▼ Catherine Neilan Treasury official Sharon White takes top Ofcom job last_img read more

The end of the line: Laois undertaker on Covid-19 experience and vaccine hope

first_img“We need to be more careful and have to follow guidelines that all undertakers adhere to.“We meet a lot of people when organising a funeral from the families themselves, to nurses, priests, mortuary attendants and the list goes on. So we are very strict on carrying out all the necessary sanitizing measures so that we don’t contract the virus and most importantly, that we don’t spread it.“I feel we should get the vaccine sooner rather than later as we are on the front line. We meet a lot of people and the last thing we want is to give the virus to nurses or staff of hospitals or nursing homes around our county.“There are some undertakers who have underlying conditions but we are here to serve our communities so nobody is taking a step back from our duties.“There’s not that many undertakers in Laois, a dozen or so vaccines would nearly do the lot of us.“People joke that we are the end of the line but I think we are also on the front line.”Liam also explained how his job has completely changed since the pandemic began back in March.Limitations on mourners, live streaming and ensuring all of the Covid-19 regulations are followed in full are all central to how undertakers and funeral directors operate now.Liam said: “We have had to change the way in which we organise funerals to abide by the Covid 19 restrictions and protocols.“It is harder to celebrate someone’s life in the way in which the grieving family would have wanted to, especially with the absence of the wider involvement of the community and extended family.“Livestreaming of funerals has helped the wider community to support families and allowed people to grieve within their own homes.“It’s not the same but it definitely has helped greatly. In Stradbally for example, we have been lucky to have Ross Molloy along with his parents Paul and Liz who have carried out this great and well needed service during these tough times.“My father William is always looking to new ways in which we go about things in order to help families and along with other undertakers in the county we learn from each other which is good to see.“Death is one of the hardest parts of life. When someone loses a loved one, it is always tough but I do feel that Covid has definitely made things a lot harder.“We are accustomed to seeing great acts of kindness at funerals such as communities coming together to support families, whether it is making sandwiches, neighbours calling to the house, guard of honours of local GAA clubs and other organisations, neighbours offering to dig graves, wakes where people can come to sympathize with the family.“All of these things can’t really happen at the moment and I do feel that all these acts of kindness and support helps the grieving process of families.“However, people have been very good in other ways by standing outside their houses on the routes to the church or graveyard and this is heartening to see.”It is often said that nobody does a funeral like the Irish, and Liam yearns for the days when Covid-19 is gone and we can all return to celebrating the lives of our loved ones in the way we all know how.He said: “The Irish are renowned for how we go about funerals and I think I am not alone when I say that I can’t wait for things to go back to normal.“Please God it will be sooner rather than later.”And so say all of us.SEE ALSO – Laois woman calls on people to ‘get moving’ to support student nurses in Portlaoise Hospital Facebook By Alan Hartnett – 12th January 2021 A Laois undertaker has opened up about how the Covid-19 pandemic has completely changed how we grieve in Ireland.Liam Whelehan, who works with his Dad William and uncle Jim at Whelehan & Son Funeral Directors, also hopes that members of his profession can receive the Covid-19 vaccine sooner rather than later.Whelehans is a family-run business that was first established back in 1880 and has been serving the parishes of Stradbally, Portarlington and surrounding areas ever since.And O’Dempsey’s footballer Liam, who is also a teacher in Scoil Chriost Ri, reckons that funeral directors and undertakers should receive the Covid-19 vaccine as soon as possible – not for themselves, but for the countless people they come into contact with through their work.He said: “The last ten months have been very challenging. It has been very difficult to tell families they have to hand pick what family members can attend a funeral – especially with large families. Previous articleOnline fundraiser launched in aid of Stradbally Woodland RailwayNext articleBrexit: ‘Paperwork demands’ see Laois businesses cease trading with UK Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. Home News Community The end of the line: Laois undertaker on Covid-19 experience and vaccine… NewsCommunity WhatsApp The end of the line: Laois undertaker on Covid-19 experience and vaccine hope TAGSCovid-19Liam WhelehanWhelehan and Sons Funeral Directors Twitter Electric Picnic Pinterestcenter_img Electric Picnic Electric Picnic apply to Laois County Council for new date for this year’s festival Electric Picnic organisers release statement following confirmation of new festival date RELATED ARTICLESMORE FROM AUTHOR Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival WhatsApp Twitter Pinterest Electric Picnic Facebooklast_img read more

North Korean Claim Met with Skepticism

first_img North Korean Claim Met with Skepticism News By Chris Green – 2010.05.13 11:46am AvatarChris Green SHARE Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak There are signs that North Korea is running into serious difficulties with its corn harvest Newscenter_img News Facebook Twitter Skepticism was the order of the day in the U.S. State Department press briefing yesterday, following North Korea’s front page claim to have achieved nuclear fusion, the “holy grail” for limitless, clean energy.Upon being asked for a reaction to North Korea’s claim, State Department spokesman Philip Crowley pointed out, “Well, the North Koreans have been prone from time to time to claim lots of things.”When pushed for something more substantive, he simply added, “I’m not going to comment on the specifics, but I wouldn’t dissuade you from those people who are offering skeptical views on this at this point.”Among other reactions to the Rodong Shinmun claim, bemusement was also predominant. Talking to CNN, Dan Pinkston, head of the Seoul office of the International Crisis Group said, “I don’t think the North Koreans are going to start … putting nuclear power vendors around the world out of business any time soon.”Speaking to Reuters, Kune Suh, a nuclear expert from Seoul National University called the North Korean claim “highly inaccurate and grossly exaggerated,” suggesting that a small experiment may be being puffed up by the North Koreans, and adding, “Maybe if two suns show up in the sky tomorrow, then people could believe the claim.”Most government officials, experts, analysts and North Korea watchers agree that the North Korean claim is almost certainly little more than a ploy to add another card to its hand in denuclearization negotiations. News RELATED ARTICLESMORE FROM AUTHOR North Korea tries to accelerate building of walls and fences along border with Chinalast_img read more

Global ETF assets hit all-time high

Sterling Mutuals adds ETFs to product shelf Keywords ETFs Share this article and your comments with peers on social media Related news BMO InvestorLine launches commission-free trading for ETFs There are currently 4,713 ETFs and ETPs around the world, offered by 204 providers on 56 exchanges. The Canadian ETF industry was comprised of 254 ETFs at the end of August, with assets of US$52 billion, from seven providers. Assets rose by 4.5% from US$50 billion the previous month, and have jumped by 23.8% from US$42 billion at the beginning of 2012. The firm attributes the rapid growth to challenging market conditions and difficulty in finding active managers that consistently deliver alpha. It notes that ETFs provide greater transparency in relation to costs, portfolio holdings, price, liquidity, product structure, risk and return compared to mutual funds and many other investment products. “In a world where investment products come and go in the blink of an eye, ETFs have proved that they are here to stay and might be considered one of the most innovative financial products in the last two decades,” said Deborah Fuhr, managing partner at ETFGI. “Market volatility may be making investors wary about the stock market, but they continue to find exchange-traded funds and other exchange traded products useful tools.” Equity ETFs and ETPs have gathered the largest net inflows around the world this year, accounting for US$76 billion, followed by fixed income ETFs and ETPs, with US$47 billion. Commodity ETFs and ETPs have captured US$10.5 billion, dominated by precious metals. In Canada, however, fixed income has been the most popular category of ETFs and ETPs this year. Year-to-date, fixed income products have attracted US$4.5 billion in assets, compared to US$3.1 billion in equities. Of Canadian ETF providers, BMO Asset Management gathered the largest net inflows in August, with US$454 million. Year-to-date, iShares has attracted most inflows, with US$3.5 billion, followed by BMO Asset Management with US$3.3 billion and Horizons ETFs with US$617 million. Facebook LinkedIn Twitter Global assets invested in exchange traded funds (ETFs) and exchange traded products (ETPs) hit an all-time high of over US$1.7 trillion at the end of August, according to research and consultancy firm ETFGI LLP. The firm reported on Friday that ETF and ETP assets have increased by 15.5% to US$1,762 billion from US$1,526 billion since the beginning of 2012. Over the past 10 years, the compounded annual growth rate of these products globally has been 26.5%. Megan Harman NEO offers MFDA reps real-time ETF data read more

Manchester Farmers Benefit from CARDI/ ALPART Open Day

first_imgFacebookTwitterWhatsAppEmail Farmers in and around Knockpatrick district, Manchester were the beneficiaries of an open day hosted by the Caribbean Agricultural Research and Development Institute (CARDI), and Alumina Partners of Jamaica (ALPART), at the Sam Motto Goat and Sheep Demonstration and Training Centre, on Thursday (Nov. 23). The scores of farmers and other invited persons toured the facility and viewed displays by CARDI, which included, drip irrigation methods; upgraded farm stock; and vegetables and cash crops being produced on mined-out lands.Minister of Agriculture and Lands, Roger Clarke, in his address to the gathering, said that “today we are witnessing a grand occasion”.Mr. Clarke noted that as the premier agricultural research and development organization in the Caribbean, CARDI had, since its inception in 1975, made a significant impact on regional agriculture through the generation and transfer of appropriate technologies in crops and livestock production.He pointed out also that ALPART, “sees itself as a company existing in harmony with its environment and neighbours especially in the area of agriculture, and what we are seeing here today, tells us that on reclaimed lands a certain level of agricultural activity can occur.this is really a truly integrated operation in terms of rearing animals, and the refuse from them being used as fertilizer and growing other crops”. Minister Clarke said the training Centre “is extremely important because . they [the farmers] will know how to deal with disease control, feeding systems, housing systems and everything that has to do with proper management of small ruminants”.He expressed satisfaction with the number of farmers that had turned out for the event, which he said would enable them “to be more focused on what we are about. New people come in and see what’s happening here, and it encourages them to go out and do their own thing”. Meanwhile, Land Manager at ALPART, Dr. Frank Ross said the purpose of the open day was to “highlight to community members, members of ALPART management and government agencies . the work that is being done here at the Sam Motto Goat and Sheep Demonstration and Training Centre, over the past six years”. He explained that the centre worked with both small ruminant livestock and crops. “Here we have improved beef breeds, such as the Boer goat and the . Alpine, which is a dairy breed. We demonstrate improved methods of nutrition, waste management, and animal husbandry in general,” he continued.Dr. Ross added that the Centre also “does a lot of work with crops on the reclaimed lands . we are looking at a number of herbs and vegetables, and showing culture practices which can be utilized effectively on reclaimed bauxite mined-out lands,” he informed.Goat farmer, Audrey Nelson, said she was pleased with the activities. “I think the open day is a marvelous thing. We have learnt so much in such a limited time. I think they should do it more often” she said.The CARDI/ALPART agricultural demonstration and training institution represents a major community development project located in the bauxite company’s mining operations area. The day partly organised as a publicity and information programme for the media, the community, agricultural agencies, farmers and schools, demonstrated the progress made by the Centre since it was opened in 1999.More than 2,500 farmers, students and householders have benefited from training programmes and dissemination of information at the Sam Motto Goat and Sheep Demonstration and Training Centre. RelatedManchester Farmers Benefit from CARDI/ ALPART Open Day Manchester Farmers Benefit from CARDI/ ALPART Open Day UncategorizedNovember 26, 2006 RelatedManchester Farmers Benefit from CARDI/ ALPART Open Daycenter_img RelatedManchester Farmers Benefit from CARDI/ ALPART Open Day Advertisementslast_img read more

Biomedical Engineering Research Associate at King’s College London

first_img ← Research Visits at InGRID Data Centres Leave a Reply Cancel ReplyYou must be logged in to post a comment. October 22, 2013 Published by stefan Post-graduate Scholarship Programme in Science and Technology Share 0 TWAS Research Grants Programme in Basic Sciences Enhancing Jewish Culture Grants for Visual & Performing Arts → LinkedIn 0 Redditcenter_img +1 Tweet Pocket Biomedical Engineering Research Associate at King’s College London TWAS Research Grants Program in Basic Sciences 2021 for Individual Scientists Similar Stories Deadline: 13 November 2013Open to: PhD holders in Biomedical Engineering, Computational Biology/Physiology or related disciplineRemuneration: between £31,331 – £34,223 per annumDescriptionKing’s College London is seeking a Research Associate on a 36 month fixed term contract. The post is part of a British Heart Foundation Project grant held at King’s College London (KCL). This project aims to combine anatomical and functional measurements from controls and patients suffering from atrial fibrillation within biophysical personalized computational models to investigate the interplay between anatomy and electrophysiology in underpinning patients disease and their response to treatment. This interdisciplinary project will require working directly with clinicians, MRI specialists, computer scientists and image processors to both interpret and optimize clinical measurement protocols using computational models. The project will involve image processing, signal processing, model development, cardiac electrophysiology simulation and analysis.The post holder will work in the Department of Biomedical Engineering (part of the Division of Imaging Sciences and Biomedical Engineering), in the School of Medicine at KCL, part of King’s Health Partners. A primary area of research focus within the Biomedical Engineering Department is the translation of personalized computational cardiac electrophysiology modeling into clinical applications. It is situated on the 3rd and 4th floors of the Lambeth Wing, St Thomas’ Hospital, one of the leading research hospitals in the UK. The Division comprises a unique group of clinicians, physicists, mathematicians, chemists, biologists and engineers who collaboratively focus on translational research.EligibilityThe post holder should have a PhD in Biomedical Engineering, Computational Biology/Physiology or related discipline. Previous experience in computational modelling, numerical solution of ordinary differential equation or partial differential equations, parameter estimation, high performance computing and cardiac research would be a distinct advantage. In addition, the candidate should have expertise in Linux systems and programming skills (ideally Matlab, C++ or Fortran), and show an aptitude for independent learning and project management.RemunerationSalary will be between £31,331 – £34,223 per annum, plus £2,323 per annum London Allowance.ApplicationPlease see the Application Pack with explanatory notes including application procedure and further particulars. All correspondence should clearly state the job title and reference number R6/MRE/1017/13-SC.The closing date for receipt of applications is 13 November 2013. Interviews will be held in the week following closure.For further information, please visit the official website.last_img read more

RMBS then and now: Do securitized home loans still matter?

first_imgEmail Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Between April and June, when the pandemic went from a shocking jolt to a daily reality, a record number of people fell behind on their home loans.“The Covid-19 pandemic’s effect on homeowners’ ability to make their mortgage payments could not be more apparent,” said Marina Walsh of the Mortgage Bankers Association, noting that the second quarter had the highest overall delinquency rates in nine years.It was a worrying trend, particularly given that the country had about $16 trillion in outstanding residential and commercial mortgage debt with more than 60 percent of that bundled into securitized home loans. But it was hardly surprising: Millions of people were out of work, virus cases were surging, and political infighting was hampering efforts to lock in another stimulus bill.For most people, hearing the words “mortgage” and “crisis” in the same sentence evokes memories of the last economic collapse, brought on when the housing bubble burst after years of risky lending, causing a credit crunch that hobbled the global economy for years.Now, with interest rates low and employees working remotely, many Americans are rushing to buy homes. But a repeat of 2007 is unlikely.This time around, the government has injected more stimulus money into the U.S. economy, struggling homeowners have been given mortgage forbearance and a tight supply of housing has driven up home prices across the country.Mortgage-backed securities — central to the last crisis — are also under much tighter controls, and the once-booming private RMBS market has been eclipsed by government-backed offerings.Though there was a small bump in private issuance between 2015 and 2018, that momentum was slowed by the pandemic, and moves to reduce government dominance in the wider market have grown more uncertain with the election of Joe Biden as president.“Unless the government steps away in a big way from the mortgage market, I don’t see that there will be any room for the private RMBS market,” said Mark Zandi, chief economist of Moody’s Analytics.Then to now The securities, in simple terms, are pools of residential mortgages bundled into bondlike instruments, which are backed by interest payments from homeowners and sold off to investors — making RMBS deals susceptible to foreclosures and personal bankruptcies.For many years, the country’s housing market has been backed by both agency RMBS, issued by government-sponsored entities such as Fannie Mae and Freddie Mac, and the “private-label” offerings securitized by banks and other private lenders.In the years leading up to the last crisis, the markets for both private and agency RMBS had started to fill up with loans issued to people with poor credit scores, no documentation and other red flags. That included homeowners and speculators who were looking to buy up mansions which, despite relatively high incomes, some just couldn’t afford.Banks that had been busy making money from these securities were later accused of not doing enough due diligence about the quality of the mortgages inside them and failing to see that the market was a house of cards. (Or, as famously immortalized by Ryan Gosling in “The Big Short,” a Jenga tower.)Whatever image you prefer, the whole thing collapsed spectacularly.The market today looks a lot different. Property values are strong in most parts of the country, and the latest crisis has been fueled by a virus rather than reckless mortgage lending.Perhaps most importantly, the amount of private RMBS issued in recent years is a fraction of what it was in 2006 and 2007, when it topped more than $1 trillion.Private issuance now makes up only 1 percent of the market compared to the other 99 percent of agency RMBS, according to recent figures from the Securities Industry and Financial Markets Association (SIFMA). Before 2008, the two were almost tied.To Zandi, comparing the private market then to now is “night and day,” in part because of all the regulations that were put in place after the economy collapsed.“The mortgages that are being securitized these days are much better underwritten,” he said. “There’s no such thing as ‘no-doc loans’; the underlying credit characteristics of the borrowers are very different; and the rating agencies now have to do their own due diligence on the loans that go into the securities.”Zandi said the size and structure of the private RMBS market means the risks in that area are low — even if we see deeper distress set in.“If things went off the rails for housing and house prices started to decline, I’m sure you’d see some credit issues,” he said. But, he added, they would be “modest.”Homebound in 2020 With private RMBS reduced to a bit player, agency RMBS is surging ahead as its more popular sibling: Last year, $1.99 trillion was issued, according to SIFMA. So far this year, that number is up to $3.19 trillion.Thanks in part to low interest rates and robust federal support for the economy, demand for single-family homes also increased in 2020 as inventory fell, pushing prices higher. According to JPMorgan, home ownership is up 4 percent from last year.Still, glaring inequalities have also been exacerbated by the pandemic.“For all the excitement around the housing market, you’ve got a significant share of the ownership population — and it’s skewed toward disadvantaged or underserved communities — where they are simply not able to make their mortgage payments,” said Sam Chandan, dean of New York University’s Schack Institute of Real Estate.After the pandemic hit, the government extended forbearance to homeowners with federally backed mortgages who were struggling to meet their repayments.The move mostly stopped foreclosures, though some markets saw an uptick this fall and many anticipate a larger wave in the upcoming year.In the second quarter, almost 16 percent of home loans backed by the Federal Housing Administration were delinquent, the highest rate in four decades. (The Federal Housing Administration, part of the Department of Housing and Urban Development, is not to be confused with the Federal Housing Finance Agency, which regulates Fannie and Freddie.)By November, some 2.74 million home loans were in active forbearance — a drop from the week prior, according to data firm Black Knight. The total represented 9.1 percent of Federal Housing Administration/Veterans Affairs loans; 3.5 percent of Fannie and Freddie loans; and 5 percent of “other” loans, including those held in private-label securities.“I don’t think [the delinquencies] are going to present a major financial challenge to the GSEs,” said Edward Pinto, director of the Washington, D.C.-based think tank AEI Housing Center, noting that the most serious delinquencies are concentrated in FHA loans.“That said,” Pinto added, “it is going to cost them some numbers of billions of dollars,” which is one of the reasons the Federal Housing Finance Agency raised its fee for homeowners looking to refinance, a measure due to come into effect in December.In 2008, widespread foreclosures and a severe pullback on mortgage lending sent housing values tumbling, putting a dent in the national homeownership rate.“This recession is different,” said Mike Fratantoni of the Mortgage Bankers Association. “As a result of the pandemic and the lockdowns that were meant to control it, we saw an extraordinarily sharp drop in the level of economic activity in spring, and then a very rapid rebound, particularly in the housing sector, as states began to reopen beginning in May.”Forecasts for 2021 When Biden assumes the presidency in January — a likely outcome to the election despite a slew of legal challenges from Donald Trump — he will be tasked with sorting out an issue that has befuddled several administrations past: what to do about Fannie and Freddie.When the Federal Housing Finance Agency took control of the mortgage giants after the last crash, few imagined the conservatorship arrangement would last 12 years.But the path out is complicated, and the announcement in November that Freddie Mac CEO David Brickman would be stepping down has only clouded matters more.“The Biden administration will not be in a rush,” said Mark Willis, senior policy fellow at the New York University’s Furman Center. “And the best reason is, [the mortgage market] is not broken.”Though a lot has changed since 2008, one thing that hasn’t, even with more government involvement in the RMBS market, is the hefty profits made by lenders.In the first half of 2018, global banks made just under $200 million in revenues from agency RMBS, according to research house Coalition. By 2019, that number reached $1 billion.In the event that the government steps back and private RMBS does make a comeback, the market will have a different cast of players than it did in 2008.Back then, nonbank lenders like Countrywide — once referred to by former CEO Angelo Mozilo as his “baby” — were called out as major culprits. After everything fell apart, Countrywide and others were swallowed up by big banks, while others fizzled out altogether.Tom Schopflocher, a senior director at S&P Global Ratings, said the most active issuers today include Wells Fargo, J.P. Morgan, Goldman Sachs and Credit Suisse.“The big banks on the list were around prior to the global financial crisis,” he said.“But many of the originators and issuers from that time are long gone.”Contact Sylvia Varnham O’Regan Message* Full Name* TagsResidential Real Estatermbs Share via Shortlinklast_img read more

Hades wins Game of the Year at Gayming Awards

first_imgHades wins Game of the Year at Gayming AwardsThe inaugural celebration saw Hades, If Found, and Tell Me Why each receive two accolades Marie DealessandriAcademy WriterThursday 25th February 2021Share this article Recommend Tweet ShareThe first edition of the Gayming Awards took place on Twitch last night, with Hades winning the coveted trophy of Game of the Year. Supergiant Games’ hit also won the Gayming Magazine Readers’ Award. Dreamfeel’s visual novel If Found, published by Annapurna Interactive, won the Best LGBTQ Indie Game Award as well as the Best LGBTQ Narrative Award.Dontnod’s Tell Me Why also received two accolades: Best LGBTQ Character for protagonist Tyler Ronan, and the Authentic Representation Award.Tanya DePass’ non-profit foundation I Need Diverse Games, which was part of our GI 100, won the Industry Diversity Award.Robin Gray, founder, and editor of Gayming Magazine, commented: “I am so proud to be able to say we have held the world’s first LGBTQ video game award show! 2020 was truly a watershed moment for LGBTQ inclusion in games and to be able to celebrate it with everyone, although virtually, was amazing! Congratulations to all the winners, well done to all the nominees and thank you again to all our sponsors! See you in 2022!”The full list of Gayming Awards 2021 winners is below and you can rewatch the event on Twitch.Best LGBTQ Narrative AwardIf Found… DREAMFEELAuthentic Representation AwardTell Me WhyDONTNOD Entertainment/Xbox Game StudiosBest LGBTQ Character AwardTyler Ronan – Tell Me WhyDONTNOD Entertainment/Xbox Game StudiosLGBTQ Streamer of the Year AwardDEEREIndustry Diversity AwardI Need Diverse GamesBest LGBTQ Indie Game AwardIf Found…DREAMFEELRelated Jobs3D Artist – Mobile Studio – Midlands UK & Europe Big PlanetProducer Indie Game Studio France UK & Europe Big PlanetSenior C++ Unreal Programmer – PC and Console Studio – Austria South East Big PlanetDiscover more jobs in games Gayming Magazine Readers’ AwardHadesSupergiant GamesGayming Icon AwardRobert YangGame of the YearHadesSupergiant GamesCelebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Daily Update and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesGenesis Noir nabs four nominations in 2021 IGF AwardsOther games in the running for Seumas McNally Grand Prize include Paradise Killer, Teardown, Chicory: A Colorful Tale, Umurani Generation, and SpiritfarerBy Brendan Sinclair 4 days agoTribeca Film Festival holds its first-ever games awardKena: Bridge of Spirits, Sable, and Lost in Random among festival’s first eight official selections for gamesBy Jeffrey Rousseau 4 days agoLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more

ReneSola targets household sales

first_imgReneSola targets household salesThe Chinese OEM manufacturer is switching focus to small-scale own-brand sales direct to the consumer. The strategy saw the company burn through $134m in three months. May 30, 2014 Max Hall Finance Legal Manufacturing Markets Markets & Policy Share Chinese manufacturer ReneSola‘s decision to use more of its wafers in-house to make modules may have seen a significant hit to its first-quarter revenues but also appears a textbook example of a company nimbly adpating to a changing market. Traditionally an original equipment manufacturer (OEM) – meaning the lion’s share of its products are made for other companies to slap their brand on before coming to market – ReneSola has decided the time has come to strengthen its brand with the end-consumer. The Zhejiang-based manufacturer, careful to stress its multinational credentials online, blamed a near-$24 million quarter-on-quarter fall in revenue on its decision to use wafers to make ReneSola modules rather than ship them to other manufacturers. Shareholders alarmed at the resulting January-to-March operating loss of $8.7 million – compared to an $8.8 million profit for the October-to-December period, should note CEO Xianshou Li’s observation the company is switching focus from utility scale projects to commercial and residential rooftop sales direct to the consumer. In an announcement of the company’s first-quarter figures yesterday, Li said the smaller-scale market offered ‘stronger and more sustainable growth’ as well as higher module sale prices and the opportunity to market the ReneSola brand. Li predicted retail sales will account for almost half the company’s module shipments by the end of the year. The change in strategy has come with a cost though, net cash outflow from operations rising from $30.8 million to $112.3 million quarter-on-quarter – to pay off accounts payable, according to the company – as ReneSola burned through $134 million in three months to leave it with cash and cash equivalents of $214.9 million at the end of March. Poly production almost stopped In another ‘one step back to take two steps forward’ the company modernized its polysilicon factory in Sichuan, a move which saw poly production fall from 1,768 metric tons in the final three months of 2013 to just 175 metric tons to the end of March. ReneSola says the Sichuan plant is back to fully operational mode, and just in time for a predicted explosion in global demand, according to market research company IHS – although the majority of installations will come from large-scale projects, say the analysts. Also reflecting the global picture, Q1 module shipments increased to Japan and new boom market the UK at the expense of ReneSola’s domestic market and the U.S. and other parts of the world. ReneSola is predicting second-quarter module shipments will dip from the 521.1 MW seen in the first three months of the year to 480-500 MW for April-to-June and repeated its full year 2014 forecast of 2.3-2.5 GW. The update made brief mention of the uncertainty created by ‘trade frictions’ in the U.S. and, potentially, India and Australia but, with the company reducing its short-term borrowings and debt, the outlook appears bright for ReneSola.Popular content The Hydrogen Stream: 20 MW green hydrogen plant in Finland, two Australian projects move forward Sergio Matalucci 20 April 2021 pv-magazine.com Storegga, Shell and Harbour Energy want to set up a 20 MW blue hydrogen production facility in the U.K. Australia’s Origin Energy wants to build a hy… Enabling aluminum in batteries Mark Hutchins 27 April 2021 pv-magazine.com Scientists in South Korea and the UK demonstrated a new cathode material for an aluminum-ion battery, which achieved impressive results in both speci… ITRPV: Large formats are here to stay Mark Hutchins 29 April 2021 pv-magazine.com The 2021 edition of the International Technology Roadmap for Photovoltaics (ITRPV) was published today by German engineering association VDMA. 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