He want on to spend nearly a year and a half as a progressive citizen in Montana, where he was well-loved by many in his town. Earning a productive job, a home, a vehicle, and most importantly, respect from his peers. A decision to reverse his appeal and send him back to prison was passed 4-3, and Barry's life was turned over again. We wanted to share this with you because after our research, news coverage twice on Dateline NBC, assistance from Centurion Ministries, and joint support from nearly millions out there, us over at YourInfoDaily.com believe that Barry is a free man. Read more about this case from Change.org;
Rookie Cleveland police officer murdered 12 year old Tamir Rice with no warning off bad information
And again it happens.. another Police officer has shot and killed another young black male. We can only hope that this crime does not go without justice, and that this officer answers in court.
CLEVELAND, Ohio – A Cleveland police officer fatally shot 12 year old Tamir Rice immediately after leaving his moving patrol car while his partner stayed at the wheel, surveillance video shows.
The video showed Wednesday by police captures the Saturday afternoon shooting at a West Side recreation center in which 12-year-old Rice was shot.
The video contains no audio.
A rookie officer pulled the trigger, said Jeffrey Follmer, president of the Cleveland Police Patrolmen's Association.
Police were sent to the Cudell Recreation Center at Detroit Avenue and West Boulevard about 3:30 p.m. when someone called 9-1-1 to report a "guy with a gun pointing it at people."
The caller told dispatchers twice that the gun was "probably fake," but that detail was not relayed to the responding officers, Follmer said.
This is a developing story.
Richard Sherman and Doug Baldwin exercised their right to free speech at their press conference today - watch it below!
Sherman & Baldwin are helping to speak up for Marshawn Lynch, who was fined $100,000 for not speaking to Press - crazy! After their win against Arizona Cardinals, which was a very big win, Marshawn Lynch gave the interviewers (one who was outdated with BOOSIE) - watch it below!
Here is the song Marshawn Lynch was listening to:
United States economy experienced the two strongest back-to-back quarters of growth since 2003
Great news coming today for USA and the Obama administration. The US ecomony is showing significant signs of growth since 2003, and one can only hope and predict that the peak will be much higher then the previous high. From dailyfinance.com,
"U.S. economic growth was far stronger than initially thought in the third quarter, pointing to strengthening fundamentals that should support the economy for the rest of the year.
The Commerce Department on Tuesday raised its estimate of gross domestic product to a 3.9 percent annual pace from the 3.5 percent rate reported last month, reflecting upward revisions to business and consumer spending, as well as restocking.
Spending on residential construction also was raised, helping to offset downward revisions to export growth and government spending.
Economists had expected growth would be trimmed to a 3.3 percent pace.
"This report will go some way in providing further confirmation about the sustainability of the current economic recovery," said Millan Mulraine, deputy chief economist at TD Securities in New York.
The economy had expanded at a 4.6 percent rate in the second quarter. It has now experienced the two strongest back-to-back quarters of growth since the second half of 2003.
When measured from the income side, the economy grew at its fastest pace since the first quarter of 2012.
U.S. stock futures edged up and the dollar rose to session highs against the euro after the data. Prices for U.S. Treasuries erased slight gains."
Click here to read the full article from dailyfinance.com
Mayor Michael B. Coleman is Columbus, Ohio longest-serving Mayor. He actually is the United States of America's longest-serving black Mayor - Amazing! Throughout his 15-year term, he has help significant changes in Columbus, Ohio, which is thrived the surrounding areas around. Mayor Coleman has helped re-establish Columbus, Ohio as one of the Best cities to live for young adults. Today, he announced that he will be stepping down after this term. Here is the message that he posted on facebook:
"I am eternally grateful to the people of Columbus for electing me to the best job in the world. Together we have faced the very challenges that have overwhelmed cities around the country, and we have not only met those challenges, but we have harnessed that momentum to take ourselves to the next level.”
Thank you Mayor Coleman!
In what has been an eye opening year in civil rights issues involving law enforcement, today, another blow was delivered to activists. It was announced that the police officer who shot and killed Mike Brown in Ferguson would not be facing any kind of criminal charges. The family of Mike Brown released a statement below:
Our prayers go out to Mike Brown's family.
The economy of countries tends to collapse when the country has internal conflict, political corruption, and disease. These components render some of the most productive members of the economy. Without proper aid and jobs, this sets the climate for the current economic status. Also, poor political actions has led to stalemate in some economies, showing no sign of growth. Out of the 54 continental states in Africa, a few are ranked some of the poorest countries in the world, for example; Madagascar, Equatorial Guinea, Angola, Guinea, Swaziland, Comoros, Eritrea, Lesotho, Benin, and Cote D’Ivoire.
It is great to see that the multi million dollar agreement was recently announced in Abu Dhabi. From gulfnews.com, "Abu Dhabi Fund for Development (ADFD) is set to extend Dh110 million in soft loans to the Republic of Madagascar for the construction of a 117 kilometre two-lane road and seven bridges that will connect key rural areas of the country." Click here to read the full article.
From October 20−November 4, An International Monetary Fund (IMF) staff team led by Mr. Harry Trines, Mission Chief for Comoros. They visited Moroni to conduct discussions for the 2014 Article IV consultation. The mission met with President Dhoinine Ikililou and held discussions with Vice President and Minister of Finance Mohamed Ali Soilihi, Minister of Planning Alféine Soifiat Tadjiddine, Governor of the Central Bank Abdou Mohamed Chanfiou, Councilor to the President and Permanent Secretary of the Economic and Financial Reform Agency Chei Oubeidi, and other government officials, representatives of the private sector, unions, and the donor community.
At the conclusion of the mission, Mr. Trines issued the following statement:
“While Comoros has made notable progress in recent years and macroeconomic policy making and economic performance have improved since the adoption of the new constitution in 2009, much remains to be done to consolidate and accelerate inclusive economic growth through continued focus on policies that emphasize macroeconomic stability and improvements in infrastructure, and that foster structural reforms that improve the competitiveness of the economy and strengthen the business environment. (2)
They document went on to discuss what has led them to existing climate, from inflation, to improper government spending, and went on to say, “Comoros faces many challenges. In the near term, the government must strive to find a better balance between the resources available and expenditures so that it can avoid the incurrence of arrears, particularly on wages and external debt, and make allocations to some important initiatives. Urgent action is also needed to improve the reliability of the energy supply, a key constraint to growth. For the medium term, the key challenges are to create fiscal space for infrastructure investment and social spending through greatly strengthened revenue mobilization, accelerate inclusive growth and employment generation, and reduce poverty, while also strengthening resilience against external shocks, including natural disasters."
In order for something to change, the rest of the world has to wake up to make a serious contribution to this state, from businesses to non profits, and individual citizens in the area who can make an impact.
It is important to note that the IORA tourism ministers plans to improve the tourism in the area by better air and maritime links for Indian Ocean. Tourism is always a very efficient way to stimulate growth in an economy. You can read more about this from seychellesnewsagency.com.
Organizations and individuals who are making an impact in the area continues to grow. Us over at YourInfoDaily.com are committed to assisting in furthering the development of these countries. Issues such as political corruption, economic barriers, combating the hot weather conditions (drought), the battle over natural resources, and illnesses and diseases, all need to be discusses on a Public forum and communicated in several languages.
Tyrese and Kim Kardashian get close in a Dubai nightclub, Kim K denied entry into India
In other Kim Kardashian West related news, Media Take Out reports that Tyrese was asked to leave a nightclub in Dubai after a man who was with Kim in the club complained that something was going down between Kim and Tyrese that he didn't like. The code of public conduct betweenmen and women applied in Islamic Dubai forbids PDA (if not married). A source at Media Take Out confirmed Tyrese complied, most likely to avoid any future problems.
I wonder what Ye' thinks about this..
(This article is from theguardian.com)
The Anglo-Dutch oil firm Shell has won a multimillion-dollar court battle against the Indian authorities, marking a significant victory for multinationals involved in tax wrangles in the country.
The high court in Mumbai ruled in favour of Shell, whose Indian unit had been accused of under-pricing shares issued to its parent firm by about 180bn rupees (£1.9bn).
The company had challenged a demand by Indian authorities for tax on the interest that would have been earned.
The judges quashed the income tax department order.
“This is a positive outcome which should provide a further boost to the government initiatives to improve the investment climate,” Shell said in a statement.
The high tax claim was one in a series ordered by Indian authorities on foreign firms including HSBC, IBM and Nokia.
A court ruled in October in favour of the British mobile phone company Vodafone, which had been engaged in a £317m tax battle with Indian authorities after they accused it of also underpricing its shares.
Foreign companies claim India’s tax laws are sometimes applied in an uneven and capricious manner, making it difficult to do business in the country.
Vikram Dhawan, director of equities at Equentis Capital, described the ruling in the Shell case as “a very positive development”, which showed India “is walking the talk of being friendly and fair to businesses”.
But he added that its government now had to remove the ambiguity about inward capital rules “if more of such suits that hurt investor sentiment are to be avoided”.
Transfer pricing – the value at which companies trade assets between units in different countries – has become a significant legal issue in India and in other countries. Tax authorities often contend that companies set the prices for transferring assets for their own gain.
Legally, prices for cross-border transfer of assets are supposed to be set as if the transactions were carried out with separate companies.
Uncertainty about India’s regulatory climate has dampened foreign investment at a time when the country needs it to upgrade dilapidated infrastructure and spur economic growth.
(this article originally appeared in NY POST)
Dollar General may have to divest more than double the 1,500 stores it said it was willing to sell if it wants to gain regulatory approval to buy arch-rival Family Dollar, The Post has learned.
The Federal Trade Commission may require the country’s No. 1 dollar store chain to divest more than 4,000 stores to win approval of its stalled $9.1 billion merger proposal, two sources close to the situation said Tuesday.
There is concern among the FTC staff that the two chains are mainly in competition with each other — and not with Walmart, drugstores and supermarkets, the sources said.
“The question is whether the [vastly increased] number of divestitures will allow [Dollar General’s] deal to work financially,” according to one source close to the situation.
Getting the FTC to change its mind on what retailers are its biggest rivals could take as long as six months — but rival Dollar Tree, the No. 3 chain in the sector, wants a vote on its proposed Family Dollar merger by Dec. 31, according to insiders.
Click here to read the entire article from the NYPost.com
Nov 18 (Reuters) - A federal jury in California awarded nearly $186 million to a San Diego area woman who sued AutoZone Inc. saying she was demoted and fired after being told pregnant women can't do the job of managing a store, her attorney said on Tuesday.
"This is the third or fourth time they've been hit with punitive damages for doing the same thing," said attorney Sean Simpson, who is part of the legal team representing plaintiff Rosario Juarez, 43. "Let's hope they get the message."
The award by a six-person jury, which follows a two-week trial, includes $872,720 in compensatory damages and another $185 million in punitive damages. Simpson said he expected the damage award to be substantially reduced on appeal.
Representatives for the auto parts retailer did not immediately respond to requests for comment by phone and email. But company spokesman Ray Pohlman told the San Diego Union Tribune that the company intends to appeal.According to the complaint, Juarez was hired by AutoZone in 2000 as a customer service representative at a store south of San Diego. In April 2001, she was promoted to parts sales manager and in October 2004 to store manager.
Then in September 2005, Juarez became pregnant with the first of her two children.
Terrorist group KKK warns protesters in Ferguson - Anonymous puts faces to this threat
Terrorism (definition) -
In 2014, the KKK must be classified and considered as a Terrorist Organization. The existence of this terrorist organization, which does not accept any race but White, was built on death, deceit, murder, burglary, lies, and of course terror. In this article, we will refer to the KKK for what it is, a terrorist organization.
The outdated and cowardly KKK recently sent threats to citizens in the Ferguson committee, in order to stop the protests being take place because of the sudden death of Michael Brown. Today, Anonymous, help to put a face behind this terrorist organization. The team, Anonymous, fighting for a better world, released this video:
This terrorist organization acts the way that it does because there is no transparency. It is time that the US Government looks at the KKK the same way that they do as Al Qaeda, ISIS, or the Nazi's.
Faces of this Terrorist Group:
YourInfoDaily.com believes in the right to free speech.
(this article is from cnbc.com)
President Barack Obama on Friday pledged a $3 billion U.S. contribution to an international fund to help poor countries cope with the effects of climate change, putting the issue front and center of the G20 Leaders Summit in Australia.
The large size of the contribution took climate policy watchers by surprise and doubles what other countries had previously pledged ahead of a Nov. 20 deadline. It would be the second major move on climate change taken by Obama after big Democratic losses in last week's midterm elections.
"Along with other nations that have pledged support, we'll help vulnerable communities with early-warning systems, stronger defenses against storm surges, and climate-resilient infrastructure," Obama said in remarks ahead of the official opening of the G20 summit.
"We'll help farmers plant more durable crops. We'll help developing economies reduce their carbon pollution and invest in clean energy."
The timing of the announcement was seen as putting pressure Australian Prime Minister Tony Abbott, who is hosting the summit and once described climate science as "absolute crap". Abbott had hoped the G20 summit would focus on growth and jobs.
Click here to read the entire article from cnbc.com
(this article is from fortune.com)
The controversial pipeline next goes to a Senate vote, most likely Tuesday.
House members voted Friday to approve the Keystone XL pipeline, the controversial spigot that would transport Canadian oil to the the Gulf Coast. A Senate vote is expected as early as Tuesday, with outcome far from certain.
In the House, the measure passed 252-161, including 31 Democrats voting for its approval.
If the pipeline is built, it would close a gap between South Dakota and Nebraska, totaling 1,179 miles. Around 800,000 barrels of crude could flow daily to the Gulf Coast.
President Obama has opposed previous versions of the bill and has signaled that he may veto the current version if it is passed, saying that the State Department should have the ultimate say over cross-border pipelines. But on Friday, House Speaker John Boehner, R-Ohio expressed optimism for the bill and attacked the President for his opposition.
“Thousands more Americans would be working today if President Obama had put their priorities ahead of his political interests and approved the Keystone pipeline,” he said in a statement. “Instead, he continues to block the project, and the new jobs, lower costs, and increased energy security it would provide.”
click here to view the entire article from fortune.com
Russia Plans To Dispatch Long-Range Bomber Patrols Over Gulf Of Mexico, Caribbean
While the west is seemingly eager to once again restart the military escalation, if only in rhetoric for now, surrounding the east-Ukraine conflict, leading to a report that the "European Union and the U.S. will weigh further sanctions against Russia’s economy and Ukrainian separatists, after the reported movement of tanks, artillery and combat troops into eastern Ukraine", Russia has chosen to change track completely and give the US a dose of its own cooking, by bringing the military threat next to the borders of the US itself.
As cited by RIA and Bloomberg, yesterday Russian Defense Minister Shoigu said that "his country’s military will start conducting regular long-range bomber patrols along Russia’s borders and over the Arctic Ocean." It gets better: while Russia has repeatedly denied it has moved its own troops into east Ukraine contrary to western press reports over the past week, it is making it quite clear it will soon move bombers just off the coast of the US: the Gulf of Mexico and the Caribbean.
“In this situation, we have to maintain a military presence in the western part of the Atlantic and the eastern part of the Arctic Ocean, in the Caribbean and in the Gulf of Mexico."
RIA also adds that according to Shoigu Russian long-distance aviation flights and military preparedness has increase substantially over the past year.
So while NATO is building up its own forces along Russian borders, using even the smallest escalation in tensions over Ukraine as a pretext to send even more troops and warplanes, Russia has decided to retort in kind.
CNN adds more:
Russia plans to send long-range bombers to patrol the Gulf of Mexico and the Caribbean, the nation's defense minister said, amid escalating tensions with the West over Ukraine. The patrols would bring the flights close to the United States' territorial waters. In September, the U.S. intercepted six Russian planes, including fighter jets, near airspace off Alaska, officials said.
The plan to send the long-range bombers is in response to a growing international resentment against Russia, defense minister Sergey Shoigu said Wednesday.
In addition, he said, Russia will boost its security in Crimea, the region it annexed from Ukraine earlier this year.
"In many respects, this is connected with the situation in Ukraine, with fomentation of anti-Russian moods on the part of NATO and reinforcement of foreign military presence next to our border," Shoigu said.
"Under these conditions, the formation of full-fledged and self-sufficient forces on the Crimean peninsula is a priority task."
Shoigu said Russian long-range bombers will conduct flights along the Russian border and over the Arctic Ocean.
"In the current situation we have to maintain military presence in the western Atlantic and eastern Pacific, as well as the Caribbean and the Gulf of Mexico," he said. "Due to that, as part of the drills, Russian long-range bombers will conduct flights along Russian borders and over the Arctic Ocean."
So will sights like these become the norm soon in proximity to US shores? Probably not, but America's response to being in the same situation as Russia finds itself, would certainly be one to watch.
United States, India reach agreement on food stockpiling, clearing way for global trade pact
NEW DELHI - The United States and India said Thursday they had resolved a dispute over stockpiling of food by governments, clearing a major stumbling block to a deal to boost world trade.
India had insisted on its right to subsidize grains under a national policy to support hundreds of millions of impoverished farmers and provide food security amid high inflation.
The U.S. and others in the World Trade Organization, meanwhile, were more focused on ensuring their food exporters weren't disadvantaged by the possibility of surplus Indian grain flooding the world market.
The dispute had held up implementation of a WTO agreement to reduce customs red tape that the organization estimated could boost global trade by $1 trillion. WTO agreements require ratification by all member countries.
India and the U.S. did not announce details of their new deal, but India had objected to a four-year limit on a so-called "peace clause" that protected developing nations from being punished if they breached the WTO's cap on food subsidies.
To ensure poor farmers continue to grow grain, even when market prices are low, India guarantees them a certain price and then stores the crops either for welfare or sale on the open market. India is one of the world's largest grain exporters and the low cost of its production and procurement system means it can sway world prices.
Both countries said their agreement should clear the way for immediate implementation of the WTO pact.
"We are extremely happy that India and the U.S. have successfully resolved their differences related to the issue of public stockholding for food security purposes," India's Commerce and Industry Minister Nirmala Sitharaman said in a statement.
The India-U.S. agreement, now headed for review by the WTO's general council, was announced as both Prime Minister Narendra Modi and President Barack Obama were visiting Myanmar for regional summits.
The head of the global trade body welcomed the breakthrough as a significant step toward achieving a multinational trade pact, but noted there was still work to be done.
"Members will need to make every effort to get it back on track as quickly as possible," WTO Director-General Roberto Azevedo said in a statement.
The WTO has said the Trade Facilitation Agreement could increase total world trade to $23 trillion from its current estimate of $22 trillion. India's stance on food subsidies had threatened to render the WTO irrelevant after a decade of inertia in trade talks.
"With the WTO confronting a mounting crisis of confidence," Modi and Obama had stepped up efforts to break the impasse while Modi visited Washington in September, U.S. Trade Representative Michael Froman said in a statement.
"In recent days, officials of both governments worked intensively and reached an agreement that should give new momentum to multilateral efforts at the WTO," he said.
Critics of the WTO rules had said they could hinder countries from setting their own priorities in environmental protection, worker rights, food security and other areas. And they say sudden reductions in import tariffs can wipe out industries, causing job losses in rich and poor countries.
"Many countries saw merit in what we were asking for. India was not alone or isolated," Sitharaman said.
this article originally appeared on businessinsider.com
The Rosetta spacecraft's lander, Philae, safely touched down on the surface of a comet just before midnight eastern time on Thursday, setting a space history first.
Scientists are now waiting anxiously for the probe to send back more data and pictures.
Here's one of the first images that were beamed back — it's just part of a full panoramic. You can see the lander's three feet in the lower left of the photo.
November 12, 2014
Expo 2015 Milan Team shares key learnings in preparation for May World Expo.
At the invitation of Expo 2015, the UAE Consulate General to Milan and the Expo 2020 Dubai team, consisting of representatives from the Dubai Road and Transport Authority, Dubai Police, Dubai World Trade Centre, Dubai Municipality and the Expo 2020 Dubai Bureau, observed and examined how the Milan team has prepared for and will execute the six-month event.
Expo 2015 Milan has spent the last six years preparing an exhibition that will explore how to tackle global food and hunger challenges. Given the planning of World Expos is a complex and multifaceted planning operation, the Dubai team was pleased to get an early look at the strategies, priorities, challenges and remedial measures put in place for such a large-scale global event.
Her Excellency Reem Al Hashimy, the UAE's Minister of State, Managing Director of the Expo 2020 Dubai Higher Committee and Director General of Expo 2020 Dubai Bureau, remarked: “The road to a successful Expo in Dubai includes meeting with former Expo cities and planners to ensure we are aware of all of the operational challenges that we may encounter. Such a large scale event will have a substantial impact on our communities and it is imperative that this impact is foreseeable where possible, issues are addressed and outcomes are positive before, during and after the event. We appreciate Expo 2015 Milan for sharing their experience and that our teams have and continue to have constructive exchanges.”
UAE Consulate General to Milan, Noura Mohammed Juma added, “I am pleased to join the Expo 2020 Dubai team and share the cultural exchange of knowledge and goodwill between the two World Expo host cities. The Expo 2015 Milan team has put an enormous amount of time and effort into their preparation and it is generous of them to offer a preview of their operations.”
Expo 2015 Milan is scheduled to run May 1 – October 31, 2015. The UAE will have a country pavilion within Expo 2015, to share the UAE’s efforts to address food and hunger issues and promote Expo 2020 Dubai theme and subthemes.
Blake Griffin of Los Angeles Clippers faces battery charge in Las Vegas incident
(this article appeared from ESPN)
Los Angeles Clippers forward Blake Griffin has been charged with one count of misdemeanor battery for an incident in a Las Vegas nightclub last month.
According to the filing Wednesday in the Clark County District Attorney's office, Griffin "wilfully and unlawfully used force or violence" on Oct. 19 on Daniel Schuman, squeezing Schuman's hand and shoulder and/or slapping him on the face. According to reports at the time of the incident, Griffin was upset by camera flashes in his face and grabbed Schuman's phone.
Teammates DeAndre Jordan and Chris Paul were with Griffin at the club that night but were not involved in the alleged incident.
According to police, the maximum penalty if convicted is six months in jail and/or a $1,000 fine.
Court records obtained Wednesday show Griffin is due for arraignment Dec. 8 before a Las Vegas justice of the peace.
Team spokesman Seth Burton says the Clippers are aware of the complaint, but have no immediate comment.
Clippers coach Doc Rivers commented on the situation last month, saying: "I trust Blake 100 percent. He's a great kid. We'll figure it out and get through it."
Rivers added: "I can't say much, but I feel very confident things will work out."
Information from ESPN.com's Arash Markazi and The Associated Press was used in this report.
Daniel EK, CEO of Spotify, responds to Taylor Swift removing her music catalog
Taylor Swift choose to remove her catalog from Spotify, a week before her album '1989' - which sold 1.2 million copies in its first week! '1989- has had the best selling week in several years! Taylor Swift cited that Spotify is relatively new and she did not want her work to be available for free with this new service. Many people, example Daniel Ek, CEO of Spotify, was taken back by this claim, with reports that Taylor Swift would have earned $6 Million had she stayed with Spotify, Daniel Ek responded as well. Read it below:
Taylor Swift is absolutely right: music is art, art has real value, and artists deserve to be paid for it. We started Spotify because we love music and piracy was killing it. So all the talk swirling around lately about how Spotify is making money on the backs of artists upsets me big time. Our whole reason for existence is to help fans find music and help artists connect with fans through a platform that protects them from piracy and pays them for their amazing work. Quincy Jones posted on Facebook that “Spotify is not the enemy; piracy is the enemy”. You know why? Two numbers: Zero and Two Billion. Piracy doesn’t pay artists a penny – nothing, zilch, zero. Spotify has paid more than two billion dollars to labels, publishers and collecting societies for distribution to songwriters and recording artists. A billion dollars from the time we started Spotify in 2008 to last year and another billion dollars since then. And that’s two billion dollars’ worth of listening that would have happened with zero or little compensation to artists and songwriters through piracy or practically equivalent services if there was no Spotify – we’re working day and night to recover money for artists and the music business that piracy was stealing away.
this article originally appeared in the nytimes.com
FRANKFURT — The Financial Stability Board, a panel made up of central bankers, finance officials and top regulators from the world’s largest economies, plans to announce proposals Monday that would double the amount of money that large banks would be required to have on hand to absorb losses.
The purpose of the new rules, which would not take effect until 2019 at the earliest, is to curtail risk-taking and protect taxpayers from having to bail out large banks in times of crisis, as happened on a grand scale during the financial crisis in 2008.
The new proposals, which have been hinted at for several weeks, aim to shift the burden of bank failures so that it falls more squarely on bank investors and the banks themselves. But the proposals are certain to face stiff opposition from the banking industry, which is likely to argue that the rules would force banks to curb lending, hurting economic growth. Banks and other interested groups have until Feb. 2 to submit comments on the rules.
The rules would allow large banks to be shut down “without recourse to public subsidy and without disruption to the wider financial system,” Mark J. Carney, the governor of the Bank of England and chairman of the Financial Stability Board, said in a statement.
The rules would apply only to so-called global systemically important banks — banks that are so big and interconnected that their problems can create economic and financial havoc. Banks in emerging markets would initially be exempt from the rules.
If adopted, the rules would probably have the most impact on lenders like Deutsche Bank in Germany or BNP Paribas in France, which use a high proportion of borrowed money to do business. These banks might need to divert profit or sell new shares to raise more capital, or else jettison some of their most risky activities.
The new rules would have less impact in the United States, where regulators have already approved similar standards for the eight largest banks that take effect in 2018.
The Financial Stability Board has a mandate from the Group of 20industrialized nations to develop guidelines that serve as a template for national regulations. The rules formulated by the board are not obligatory for individual countries, but governments face considerable international pressure to adopt them.
Click here to read the entire article from the nytimes.com
Workers have won a ground-breaking case at the Employment Appeal Tribunal to include overtime in holiday pay - this originally appeared on BBC.com -
This means some people working overtime could claim for additional holiday pay. Currently, only basic pay counts when calculating holiday pay.
The tribunal also ruled that workers can make backdated claims, but only for a limited period.
However, the ruling could be referred to the Court of Appeal, meaning a final decision may be years away.
The ruling has widespread implications for companies where staff are required to do overtime as a regular part of their job. Lawyers said the tribunal was not clear on whether the ruling applied to workers doing voluntary overtime.
But Caspar Glyn, a barrister specialising in employment law, told the BBC that the ruling effectively meant that: "Normal pay is normal pay and that should be paid when you're on holiday". Even though this was not spelt out in the ruling, this referred not just to compulsory overtime but to any overtime that is worked on a regular basis, he said.
"Up until now, some workers who are required to do overtime have been penalised for taking the time off they are entitled to," said Howard Beckett of the Unite union.
"This ruling not only secures justice for our members who were short changed, but means employers have got to get their house in order."
'Matter of urgency'The tribunal ruled on three cases - road maintenance company Bear Scotland versus Fulton, engineering firm Amec vs Law and industrial services group Hertel vs Wood. The employees won their original claims and the tribunal has now rejected the companies' appeals.
Click here to read the entire article from BBC.com
Happy Election Day! Daughter of Ohio AG campaigns for Father on side of Highway
Today is a very important day in Politics – Election Day! Make sure you get out and vote and remind others while you are at it!
In Columbus, Ohio – Republican Mike Dewine, whose Democratic opponent David Pepper has accused of ‘ducking debates’, will be going up for re-election today for the Ohio State Attorney General position.
We will be keeping our eyes glued to the TV!