It’s the most wonderful time of the year – the time banks, analysts and other finance futurologists dust off their crystal balls and start trying to work out what the market’s going to be thinking about next year.Goldman Sachs has got in there early, with its “Top 10 market themes for 2015” research note. What does Goldman predict for next year? We’re glad you asked…1. A broadening recovery No kidding: we’d hope so. Goldman says it expects “above-trend” growth in the US to be maintained next year and into the next few years, and although China’s growth may slow a little, other emerging markets should begin to pick up the pace. And what’s more, while investors have priced an element of improvement into their calculations, it believes its views on the high potential of the recovery in both the US and Europe are “controversial”. Its biggest worries are “a re-emergence of Euro and political area tensions”, a “deflationary mindset” in Germany and the risk of a “sharper downward shock” from China’s housing and credit imbalances. 2. Divergence between developed marketsThe divergence between growth in, say, the US and European economies, has “emerged as a key theme” in 2014 – but Goldman suspects that, given the deceptively weak US first quarter GDP figures, that gap will actually narrow – but only slightly. Which suggests there will continue to be a divergence in output gaps, as well as in monetary policy. When will economies raise rates? Goldman says it’ll be the fourth quarter of 2015 before that happens in the UK.3. The new oil orderAbundant shale reserves in the US have pushed oil into positive supply, forcing prices down by $30 per barrel. “It is important to see the scope for downside surprises is not finished”, though. This will have the knock-on effect of “reinforcing the downside risks” of industrial metals, but will also give oil importers some spare cash to play with, as well as affecting equities in oil companies and putting (further) pressure on oil-reliant countries, such as Russia and Nigeria. 4. Low inflation = “lowflation”The International Monetary Fund’s favourite new saying isn’t an elegant portmanteau, but Goldman has committed to it: even against modest growth, lowflation will continue to remain powerful, it says – even in markets like the US. “Although our central case sees a modest stabilisation in inflation this year, there is a meaningful risk that a more acute deflationary mindset takes hold instead”. The European Central Bank is already wending its merry way towards credit easing, while the Bank of Japan has committed to raising inflation expectations. But the road to success may involve “consider[ing] further steps towards easing, or at least welcome further currency depreciation as part of their own efforts to prevent inflation from falling further”. 5. The strengthening dollarContinued strength in the US dollar “arguably remains our strongest asset market view looking through 2015”. By the end of 2015, EUR/USD should be at 1.15, while USD/JPY will be at 130, and the dollar will also continue to strengthen against currencies in emerging markets. In fact, if you look at it from a historical perspective, its strength so far “looks modest”.6. Rate-watch continuesThe overarching question so far has been about when the Fed will raise rates. For what it’s worth, Goldman reckons it’ll be September – but that’s not the real debate, it adds. The real debate in 2015 will be “where the funds rate is ultimately heading”. The answer? It will probably take it “higher than the market predicts” – but the “tightening process” will prove “manageable”. There may be “bouts of volatility” as part of markets’ readjustment to “normalisation of policy”, “but we doubt that will prove disruptive for risk assets or the economy in a sustained way”.7. China’s growth slows even furtherGoldman expects growth of between six and seven per cent in China over the next couple of years, “a sharper slowing” than in 2014. The best opportunities will come if investors bide their time and wait for their peers to “move towards extreme pessimism”. Recent shifts will also create “local opportunities” – but be cautious over property credits, copper and general commodity prices: the “slowing housing and investment cycle” is likely to put pressure on them. 8. Emerging markets: More polarisationThe good news is that following the “taper tantrum”, emerging markets are likely to enter 2015 “in better health”, says the note. Inflation is supporting five to 10 year bonds in India, which is “likely to further entrench the credibility” of its new inflation target. But emerging markets are likely to polarise – India and Turkey will benefit, while South African and Brazilian currencies are likely to be weakened by falls in commodity prices. Then there are the ongoing problems in Venezuela, Ukraine, Russia and Argentina, which will carry on into 2015.9. Low volatilityThe VIX average for 2014 is the “lowest of the recovery so far”, despite the odd panic, and all the economic indicators suggest that’s likely to “persist into 2015”. But there are threats to this. Fresh financial shocks and further tightening in the labour market, as well as diminished liquidity, could all cause rate volatility to move “persistently higher” next year. 10. Lower returns than we’re used to”It is striking that many assets… are priced to offer low absolute rates of return over the coming years,” says Goldman. But the earnings yield on equities “still makes them more attractive” than asset classes such as sovereign bonds on a relative basis, although the risk of the kind of sharp pullback which has eroded months of gains in one fell swoop several times during 2014 will remain. The result? Foreign exchange returns are likely to become a “more important component of overall returns across countries”, while “hedging choices [will be] more critical”. It finishes by pondering emerging markets equities. “We find ourselves thinking that they offer at least the possibility of significantly higher returns than in developed markets over the medium term, even if they still offer significantly more risk.” So there you go. Tags: Goldman Sachs whatsapp whatsapp Thursday 20 November 2014 1:11 pm 10 themes Goldman Sachs thinks will dominate markets in 2015 Show Comments ▼ Emma Haslett Share
© Wirestock | Dreamstime.com By using APIs, Champ and CargoAi enable customers to connect to each other, as well as on the booking platform.“Our clients and users are at the heart of this partnership,” said Nicholas Xenocostas, VP commercial & customer engagement at Champ. “Creating value for them has always been our priority and that is why we have the widest range of suites of systems dedicated to air freight. Being available on CargoAi, if they wish, is therefore an additional service we can offer our clients.”Mr Xenocostas added that it was the time to “deliver innovation faster” to support and transform customers’ business processes, while bringing “more digitalisation and visibility” to the air freight industry.CargoAi, meanwhile, is likely to announce more such partnerships as it continues its march through the air cargo IT industry, although IBS and Champ are among the largest.“Those two were the big ones, for now,” said Mr Petot. By Alex Lennane 14/12/2020 CargoAi has taken another step in its plan to connect with as many systems as possible, with a partnership agreement with Champ Cargosystems.Just two weeks after it announced a similar partnership with IBS, it is now able to connect to Champ customers, which include more than 100 airlines and GSAs, via APIs.“The plan is to be connected with as many airlines systems and transport management systems [as we can], so airlines and freight forwarders don’t need to invest in complex integration. We already did it for them,” explained Matthieu Petot, chief executive of CargoAi. “Our goal remains to make digitisation accessible to all industry players.“This partnership with Champ … is a real boon for our customers. Because, thanks to the joint work we have accomplished, our customers can grow their businesses by being connected to each other, without having to do anything.”
Home News Laois ‘one of the quietest places for criminal activity’ in Ireland News Laois ‘one of the quietest places for criminal activity’ in Ireland Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ TAGSJoint Policing Committee Facebook WhatsApp Pinterest Laois has been heralded as one of the quietest places for criminal activity in the country.According to Chief Superintendent John Scanlan, Laois is one of the quietest areas in the country to police.And the figures for the last three months certainly back up that assertion as crime stats have fallen in almost all of the major areas.These figures are from the previous three months and are compared with the same period from last year.Burglaries of people’s homes are down from 62 to 37 when compared with the three months from last year – a 40% decrease.Mr Scanlan said: “I would not like to herald that figure because for the 37 people or families who had their house broken into, that is an extremely traumatic event for them.“But it is good to see that extra boots on the ground are yielding results.“It is also important to recognise the work that community groups have done with rural text alerts and neighbourhood watch.”Assaults decreased from 85 to 73 while public order offences were down from 160 to 137.The only crime area which saw an increase was drugs. But Mr Scanlan said that these was largely down to the fact that the Electric Picnic began in August this year and did not do so last year.In total there were 264 drug related offences in comparison to 69 last year.Mr Scanlan said: “Crime is down but we shouldn’t be complacent about it.“Laois is a place which is open for business and should be attractive to do business in. It is one of the primary arteries into the capital and is in the heart of the country.“We should be shouting from the rooftops that there is a reasonably benign criminal environment here. There isn’t something that people should be concerned about because you can come and do business here without any great risk.”SEE ALSO – Listen to the latest LaoisToday Podcast as we gone down Memory Lane with legendary Laois band The Mere Mortals Council Twitter Twitter WhatsApp Pinterest New Arles road opens but disquiet over who was invited to official opening Community Community By Alan Hartnett – 11th September 2018 Facebook Five Laois monuments to receive almost €200,000 in government funding RELATED ARTICLESMORE FROM AUTHOR Previous articleIn Pictures: Portlaoise AFC Women keep league title push aliveNext articleLose anything at Electric Picnic? Here is how you could get it back 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.
kchung/123RF James Langton Share this article and your comments with peers on social media BFI investors plead for firm’s sale The Canadian Securities Administrators (CSA) is seeking feedback on the regulatory issues surrounding soliciting dealer arrangements.The practice of companies hiring investment dealers to solicit investors’ votes in proxy contests and other issues raises conflicts of interests and corporate governance concerns. Related news Facebook LinkedIn Twitter A CSA staff notice published on Thursday examines these issues and seeks comments on the use of soliciting dealer arrangements, including whether regulators need to develop rules or added guidance in this area. Responses are due by June 11.According to the notice, while there are already rules governing proxy solicitation and dealer conflicts generally, soliciting dealer arrangements still raise certain regulatory concerns.For dealers, these arrangements create issues around managing conflicts of interest, and the “risks associated with potential solicitations of proxies,” the CSA says in its notice.For companies, soliciting dealer arrangements give rise to questions about the integrity of shareholder votes, including whether these arrangements are being used to entrench corporate boards and management.“The practice of soliciting dealer arrangements raises certain securities regulatory issues, notably around conflicts of interest and the integrity of the voting and tendering process,” says Louis Morisset, chair of the CSA and president and CEO of the Autorité des marchés financiers (AMF) in a statement.“In light of these issues, we believe it is appropriate to assess how these arrangements are being used and whether further regulatory action is appropriate,” he adds. IIROC sanctions rep over undisclosed real estate dealings Keywords Conflicts of interest, Investment dealersCompanies Canadian Securities Administrators Incentive conflicts, regulatory burdens on AMF agenda
Purpose looks to fill retirement income gap with longevity fund Keywords MERs and management fees, Mutual funds, BondCompanies RBC Global Asset Management Share this article and your comments with peers on social media Anne-Marie Vettorel An inhospitable environment for bond ETFs Toronto-based RBC Global Asset Management Inc. (RBCGAM) says t it will lower the administration fee for the RBC Emerging Markets Bond Fund.The company will drop the administration fee for Series A, Advisor, D & F to 0.05% from 0.10%, effective Jan. 1, 2019. Facebook LinkedIn Twitter Related news IG Wealth amends product shelf It will trim the fee for Series O to 0.02% from 0.10%.
Youths Tell the GG Their Vision for Jamaica CultureMay 19, 2009 RelatedYouths Tell the GG Their Vision for Jamaica FacebookTwitterWhatsAppEmail Students from high schools and tertiary institutions in the county of Middlesex had the opportunity to share their concerns, dreams, aspirations and vision for Jamaica with Governor-General, His Excellency the Most Honourable Dr. Patrick Allen, at a youth consultative breakfast, held last Friday (May 15), at the Caymanas Golf and Country Club.The Youth Consultative Breakfast was held under the theme ‘I Believe’ and forms part of the Governor-General’s Achievement Awards programme.Among the concerns raised by the students were the declining morals in the society, lack of proper parenting and available job opportunities for young people. A student from Glenmuir High School attributed Jamaica’s problems to low social morals and said that adults should be reminded that children are always looking for role models to emulate.“I believe that Jamaica’s problems stem from low morals. When I look around my community, I see poor examples and we must remember that children are always looking for role models and adults to emulate; but Jamaica’s standards have been lowered,” the student said.A representative from St Jago High School said he believes that young people need affirmation from the adults in their lives, in order to enjoy success and be further motivated. He also expressed a desire to see more youth fora such as the Consultative Breakfast, where young people can engage in conversations with adults.“We have this culture in Jamaica for adults to see youth as insignificant, not realising that young people are looking to adults as an example and for affirmation. These fora give us the opportunity to express our opinions and affirm our position in the Jamaican society. I would like to see more fora such as this and with more youths participating,” the student said.Some students were openly supportive of their teachers and the work that they do. One student from St Hilda’s Diocesan High School told the gathering that more emphasis should be placed on Early Childhood Education. She further encouraged teachers to get to know their students better.“I believe greater emphasis should be placed on Early Childhood Education. Parents should work more closely with their children, especially at that stage. Also, teachers should be aware of their students and their competency levels. Some students may not do very well in the traditional subject areas, but would do better if placed in a skills based class. Teachers should know their students,” she said.In his response, the Governor-General said that while parents are important in shaping the lives of children, youth also have a responsibility to emulate and model good behaviour.“Even in instances where parents do not provide the right guidance, children should seek out the right mentors. I urge you all to exceed the level of your parents and I encourage parents to support you as you do that,” he said.His Excellency expressed profound appreciation for the students’ attendance and participation, adding that he was hopeful about Jamaica’s future as young people seemed to have grasped the concept of ‘I Believe’. He said while there is no panacea for the ills of Jamaica, students should return to their schools and communities and use the things that are right with Jamaica to fix what is wrong with the country.“There is no panacea for all that’s wrong with Jamaica. We just have to return to our communities and see what is good with Jamaica and see how it can be enhanced and built upon. You go forth this morning as ambassadors. You are Jamaica’s future and with that, you will make your mark,” the Governor-General said, as he charged the youth participants to believe in themselves and in the future of Jamaica.Student representatives were drawn from McGrath, St Jago, Ferncourt, St Mary, St Catherine, Oracabessa, Glenmuir, Denbigh and St Hilda’s High Schools. Representatives from the Moneague College and Church Teachers’ College were also in attendance. Other youth consultations are planned for the counties of Cornwall and Surrey.The youth consultative breakfast was sponsored by the Jamaica National Building Society, Caymanas Golf and Country Club and the Gleaner Company Ltd. RelatedYouths Tell the GG Their Vision for Jamaica RelatedYouths Tell the GG Their Vision for Jamaica Advertisements
Time to develop Medicare for 21st Century The most exhaustive inquiry into the mechanics of Medicare in its 36 years makes a compelling case for extensive reforms that must be commenced now if Australians are to retain access to best available 21st Century health care, the Consumers Health Forum said today.The Medicare Benefits Schedule (MBS) Taskforce has reviewed more than 5,700 Medicare items and made more than 1,400 recommendations “to strengthen, modernise and protect Australia’s world class health system”. It has identified numerous opportunities to improve health outcomes for all Australians into the future, its final report states.“CHF welcomes this deep and detailed report An MBS for the 21st Century and its advocacy of consumer-centred health care,” the CEO of CHF, Leanne Wells, said today.“The 1980s Medicare model is being rapidly overtaken by the huge shifts in health care and the escalation of chronic conditions and this report shows why the Government and providers must change in areas such as remuneration to meet consumer needs and make the most of modern medicine.“We congratulate the work of Taskforce Chair, Professor Bruce Robinson, and the scores of clinicians and consumers who contributed to this marathon inquiry over five years, sometimes in the face of intense criticism.“The Taskforce has seized the unique opportunity of the inquiry to recommend changes to modernise the MBS at all levels, from the clinical detail of individual items, to administrative rules and mechanisms, to structural, whole-of-MBS issues, including alternative funding models.“We welcome the Taskforce’s acknowledgement of key issues that plague consumer access to care: the challenges encountered in navigating a complex, fragmented system and increasing out of pocket expenses. These are perennial problems that must be addressed.“On top of recommendations it has already made, the taskforce also proposes wider measures which CHF would support.These are centred on:Embedding a consumer-centric focus in the MBS and in any future changes – a timely reminder that Medicare is our public health insurance scheme designed to rebate patients for the costs of careImproving monitoring, so data and research can be used to support practitioners in delivering care and underpin future changes to the MBS.Rebalancing healthcare financing from near exclusive reliance on ‘fee-for-service’ to complementing with ‘block’ and ‘blended’ payments in order to support more clinically appropriate modes of patient care.Reviewing continuously to assure the patient and community that safe, high quality and high value care is provided by the MBS.“The need to rethink the dependence of Medicare payments on fee for service is a priority if we are to move to better integrated, value-based, multidisciplinary primary care,” Ms Wells said.“We support the Taskforce recommendation for the expansion of the Voluntary Patient Enrolment initiative which enables block funding to general practices and supports an ongoing doctor-patient relationship. This would give practices flexibility to offer a mix of services more responsive to their mix of patients and, as the report says, this would be particularly beneficial for those patients with ongoing chronic and complex care needs. Such a change would be integral to much needed primary care reforms foreshadowed by Health Minister Greg Hunt.“Already key achievements have been spurred by the Taskforce and these are chronicled in the Final Report. We must see a commitment to implementing the more macro recommendations made.“The Taskforce report was accompanied by the Final Report from the Consumer Panel which reported that there was genuine consumer involvement in the Review which was considered positive, effective, and influenced outcomes.“The Consumer Panel noted that consumer involvement “changed the tone of clinical committee discussions for the positive, changed the culture of how the task of reviewing clinical items was approached and improved the overall credibility of the MBS Review by ensuring that it was dual-led and was not simply performed by clinicians, for clinicians”.“CHF was involved in the Review nominating representatives to committees and participating in the consultations. We welcome the Panel’s finding that some of its key outputs, which ultimately contributed to the success of the Review, were the induction of consumers to clinical committees, the Consumer Resource and the consumer elements of the clinical reports including the summary tables, which explained the recommendations in plain English,” Ms Wells said. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, Bruce, community, Consumers Health Forum, general practice, Government, health minister, healthcare, insurance, insurance scheme, medicine, outcomes, patient care, primary care, Professor, public health
ACOSS calls on Government to do right and smart thing on JobSeeker, ahead of expected decision 1 February 2021ACOSS is calling on the Morrison Government to make the right and smart decision on JobSeeker.At the National Press Club today, the Prime Minister indicated that the Government would be making a decision on JobSeeker before the Coronavirus Supplement is due to end at the end of March.Australian Council of Social Service CEO Dr Cassandra Goldie said:“When the COVID-19 pandemic first hit our shores last year, the Government did the right thing by doubling the old Newstart rate.“The increased rate meant that people, including families were able to afford their rent and still have enough left over for fresh fruit and vegetables, to visit the dentist or catch up on bills.“But since then the Government has cut back the rate multiple times. It’s undoing the good work it did last year. And with only 1 job for every 9 people searching, the insecurity is wreaking havoc on people’s mental health and leaving them to face the heart-breaking decision of whether they’ll be able to afford to continue living in their home.“As we rebuild from the crisis, we can’t turn our back on those who are at risk of being left behind. That’s why we’re calling for a permanent and adequate increase to the rate of JobSeeker, Youth Allowance and other income support payments, of at least $25 a day more than the old Newstart rate.“This is not only the right thing to do but the smart thing to do – we know from Deloitte analysis that going back to the old rate would cost the economy $31.3 billion and 145,000 full-time jobs over the next two years,” Dr Goldie said. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, Australian, Australian Council of Social Service, coronavirus, Deloitte, full-time, Government, JobSeeker, mental health, Minister, Morrison, Morrison Government, Newstart, pandemic, Prime Minister, social services, vegetables, Youth
Western Australia coronovirus update as at 4 June 2021 The Department of Health has reported no new cases of COVID-19 overnight in WA.The State’s total remains at 1018.Western Australia now has one active case of COVID-19 – 1008 people have recovered from the virus in WA.Yesterday, 800 people were swabbed at WA Health COVID clinics.For the latest WA vaccination figures, visit the COVID-19 Coronavirus: Vaccination dashboard.*To date, 96 cases of variant strains have been detected in Western Australia – 53 of the B.1.1.7 strain, 15 of the B.1.351 strain, 27 of the B.1.617 strain (Indian variant) and one of the P1 variant (Brazilian variant).**There have been 1,209,203 COVID-19 tests performed in WA. Of those, 154,098 were from regional WA.The State Government has issued advice for travellers who have recently returned from Victoria and they are reminded to continue to monitor the Vic Health website for updated exposure locations.WA Health is also aware of new exposure sites in New South Wales linked to the Victorian outbreak. Anyone who has recently arrived into WA from New South Wales or the Australian Capital Territory and has been to one of the listed exposure sites during the relevant times is required to get tested and self-quarantine for 14 days.Recently returned travellers from NSW and the ACT should continue to monitor the NSW Health website and the ACT Government site.WA will continue to seek information on the Victorian outbreak and other affected jurisdictions with updated health advice provided as required.A list of testing clinics is available on the HealthyWA website.Visit WA Health’s HealthyWA website for the latest information on COVID-19. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Act, ACT Government, Australia, Australian, coronavirus, Department of Health, Government, health, New South Wales, NSW, NSW Health, vaccination, Victoria, WA, WA Health, Western Australia