Stress tests could be watered down in Dodd-Frank shake up

whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeEveryday WellnessWhat Happens To Your Body When You Eat Two Bananas A DayEveryday WellnessUndoSurfsharkProtect your digital life with an award-winning VPN, clickSurfsharkUndoFather's Day CollectionPrepare Fantastic Father’s Day Gifts Before They Sell OutFather’s Day CollectionUndotibgez10 Signs & Symptoms of Lewy Body DementiatibgezUndoSoGoodlyThey Were Named The Most Beautiful Twins In The World, Wait Till You See Them TodaySoGoodlyUndogo.dailystocktraders.comThis Secret IRS Loophole May Change Your Lifego.dailystocktraders.comUndoReady to Move Flats | Search AdsReady to Move Flats in Scottsdale Might Surprise YouReady to Move Flats | Search AdsUndoStadium TalkWorst Quarterback of All Time for Every NFL TeamStadium TalkUndoHollywood TaleHere’s How Much Megyn Kelly Earns Every Year From HostingHollywood TaleUndo Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Pleads Guilty to Attempted ChildThe WrapIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamourTop 5 Tips If You’re Losing Your EyebrowsVegamourWhat Causes Hair Loss? Every Trigger ExplainedVegamourSmoking and Hair Loss: Are They Connected?VegamourRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapThis Is How Often You Should Cut Your HairVegamour The days of US stress tests for banks in their current guise could be numbered as Donald Trump and his team dismantle the Dodd-Frank rules.The President signed an executive order earlier this month to review the 2010 Dodd-Frank financial regulations.  Now, a leaked memo from House Financial Services Committee chairman Jeb Hensarling, which has been seen by Bloomberg, has revealed that stress tests are in the crosshairs and a draft version of the legislation to make the changes possible could be published in the coming weeks.Read more: Goldman Sachs is shifting a London hedge fund team to New YorkAccording to the memo, banks may only be subjected to US stress tests every other year, as opposed to every year as they are at the moment, while some lenders could be exempted entirely if they agree to dramatically increase their capital.The proposals would also scrap the so-called qualitative test element, which reviews banks’ plans for managing capital and risk and is thought to be one of the toughest parts of the testing. The Federal Reserve’s yearly stress tests are designed to measure banks’ financial health, and aim to ascertain whether lenders have enough capital to survive a sharp financial downturn. Hayley Kirton Read more: Arrivederci: Barclays ditches more of its Italian non-core assetsMeanwhile, Hensarling’s memo also revealed a planned crackdown on the powers of the Consumer Financial Protection Bureau.Any changes will need to be passed into law before they can take effect, so there is no certainty any of the proposals will become a reality.  Share Stress tests could be watered down in Dodd-Frank shake up whatsapp Thursday 9 February 2017 7:42 pm read more

City delivery driver numbers to be slashed in bid to cut air pollution

first_img Jessica Clark City delivery driver numbers to be slashed in bid to cut air pollution Tags: Trading Archive Share The City’s governing body is planning to crackdown on the number of delivery drivers operating in the Square Mile as it moves to reduce air pollution. Developers will work with the transport, delivery and servicing industries to contribute to freight transport consolidation measures, the City of London Corporation announced as it launched its City Plan 2036.The updated development guidance also includes encouraging flexible and adaptable office floorspace to meet the demands of varied businesses, a requirement for all new developments to include a green element and pedestrianisation will be prioritised.“With 150 days to go until Britain officially leaves the EU, it is more important than ever to future-proof the City for the next generation of workers, residents and visitors,” said City of London Corporation planning and transportation committee chairman Chris Hayward.“The Local Plan, which was today approved for consultation by elected Planning and Transportation Committee members, envisages a more attractive, dynamic, inclusive and modern Square Mile in the future, while recognising that we must also cherish our unique heritage assets.“More than ever we are seeing that businesses are making location decisions based on the quality of the buildings, local amenities and public realm that they can offer their employees.” whatsapp The plan identifies Liverpool Street, Smithfield, the “Eastern City Cluster”, Blackfriars, Aldgate, Tower Gateway and Fleet Street as areas for development.The consultation will open on 12 November and runs until February. whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell 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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoBetterBe20 Stunning Female AthletesBetterBeUndoRest Wow68 Hollywood Stars Who Look Unrecognizable NowRest WowUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndoJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAUndoBridesBlushWhat The Harry Potter Stars Look Like Out Of CostumeBridesBlushUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndo Tuesday 30 October 2018 6:41 pmlast_img read more

Google and DeepMind are playing fast and loose with society’s trust

first_img Tom Strange When Facebook acquired WhatsApp in 2014, it asserted that it would not connect the product with its core Facebook experience and that data would not be shared. But it quickly went back on this commitment, breaching the trust of users.Now, Google’s DeepMind, a company that was given “legally inappropriate” access to 1.6m NHS patient records, according to a senior data protection adviser to the NHS, has breached our trust.DeepMind has stressed that its current contracts, and the data they process, cannot move over to Google without the prior consent of its partner hospitals, who are the only ones who can decide how data is processed. But critics allege that the company has broken promises it made to patients.The use of tech and big data in healthcare is a thorny issue. As a society, we want to support positive initiatives, such as the work that DeepMind has completed to improve patient care and help detect acute kidney injuries. The NHS is cash-strapped and looking to improve efficiency wherever it can, and tech plays a crucial role in this.This has been echoed by health secretary Matt Hancock, who is set to invest more money into healthcare innovation and technology. And with a growing number of innovative “healthtech” startups, there are definitely opportunities for collaboration with the private sector. More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comConnecticut man dies after crashing Harley into live bearnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Last week, we were greeted by the disturbing news that DeepMind, an artificial intelligence subsidiary owned by Google’ s parent company Alphabet, is moving some of its healthcare activities into the newly formed Google Health.This isn’t the first time that one of the tech giants has been accused of making misrepresentations to consumers, using sleight of hand and semantics to break its promises. Opinion Tuesday 20 November 2018 7:55 am City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal Pastmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.cominvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comLivestlyPlugs Have These Two Holes At The End, Here’s WhyLivestlybonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comInteresticleMan Finds Wierd Cave In Scottsdale, Enters And Drops To His KneesInteresticle Positioning the DeepMind brand as a quasi-research centre gave the subsidiary a chance to develop market opportunities and get access to partnerships and data that Google itself could not access directly, due to public opinion about its ethics.And even if this wasn’t a deliberate strategy, the result is the same: DeepMind has broken its pledge that “data will never be connected to Google accounts or services”.I still believe that it is possible for the Silicon Valley giants to do good, even in sensitive areas like healthcare. But somewhere along the road, these businesses have lost their way. We are placing ever more trust in them, and it is disappointing to see our trust broken time and again. It needs to end.As business leaders in the tech world, we should pledge that 2019 will be the year of making society the number one priority, even at the cost of growth in profitability. Do this, and these Silicon Valley giants can become an enduring force for good.But if they keep taking advantage of their power, the future will be very different for these tech powerhouses. Consumers will not tolerate being lied to over and over again.center_img Share However, when it comes to something as sensitive as our health, privacy is paramount, and effective patient safeguards are crucial.When DeepMind was acquired by Google in 2014, the founders did try to put protections in place, such as appointing an independent reviewer panel in 2016 to scrutinise the company’s work in healthcare.​ It seems that they truly did intend to be an ethically sound business.However, the recent absorption of DeepMind into Google Health has revealed that good intentions are not enough. Google has now said that this panel is not fit for purpose if DeepMind is to grow globally, and is disbanding it.My suspicion would be that, amid mounting losses in the DeepMind division, there has been pressure to create economic returns for Alphabet. Alphabet’s profits ultimately win out over the good intentions of the DeepMind team, largely at the expense of the end user, as it is our data at risk.We will most likely never know exactly what happened, but given the revelations about murky business practices and questionable attitudes towards user data at the big tech firms, you’d be justified in suspecting that, perhaps, somewhere deep inside Google, there might have been a team of people who had always planned for this to happen. whatsapp whatsapp Google and DeepMind are playing fast and loose with society’s trust Tags: Alphabet Data protection DeepMind Facebook Google Healthtech NHS Startupslast_img read more

Breaking up is hard to do, so why not put a ring on audit?

first_imgIt also addresses the suspicion that larger firms use audit as a loss leader to gain more lucrative consultancy services, and that this may affect their audit judgements. This is perception, not reality, but continues to be suggested.ICAEW has long argued that forcible breakup doesn’t necessarily address the choice issue. If smaller firms are looking at the listed audit market and deciding that the risk profile does not work for them, we must ask why creating more such firms is the answer.The option of audit-only firms is also proffered. But were there such demand, surely the market would have created audit-only firms by now? Also, a multidisciplinary firm has access to a wide range of expertise; audit-only firms would have to buy that in – raising costs for businesses.But while splitting firms may not work, the banking sector has demonstrated something that might: ring-fencing.The issues facing banking in the aftermath of the financial crisis were not quite the same as for audit today, but parallels exist. City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. whatsapp Michael Izza Opinion Never have there been more eyes on audit.Sir John Kingman is examining the Financial Reporting Council and how audit can best be regulated. Tags: Trading Archive Friday 23 November 2018 8:13 am Breaking up is hard to do, so why not put a ring on audit? whatsapp How could we protect retail banking arms – which provide a public service so vital to our daily lives that it might almost be a utility – from the risks inherent in the investment wings, while recognising that investment banking generated the large profits?The solution was to ring-fence the core retail banking services. This meant making the retail arm a separate legal entity with its own leadership structure and with dedicated capital, resources, and revenue streams, insulated from other areas of the business.Something similar could be done with the audit arms of large firms.First, it would need to encompass investment. A large accountancy firm looking to invest heavily in new or nascent technology might expect larger returns in the consultancy arm than in audit. Giving audit its own ring-fenced investment stream would negate such commercial pressures.Second, there would be structural issues. Many large multidisciplinary firms do not have auditors in leadership positions. Ring-fencing would mean having a leadership structure where senior managers are empowered to make decisions based around the audit business and its public sector ethics. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live bearnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFinancial 10NHL Player’s Wife Is Hands Down The Most Beautiful Woman In The WorldFinancial 10Total PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.commoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.com The Competition and Markets Authority is investigating competition and choice in the listed audit market.The BEIS Select Committee announced last week that it too will scrutinise audit, and the Audit Quality Forum’s Review is set to explore the future of the audit product, and how it might better meet modern business needs.So many reviews imply consensus both that change is needed, and that no simple answer exists. This is because there is more than one problem.On the one hand, there is the issue of competition and choice, on the other of lost trust. The two are linked, but not the same. The danger is that trying to solve one might exacerbate the other.It is easy to see why “breaking up the Big Four” has become a common refrain. With the market dominated by a few large firms, there are obvious attractions to changing that by diktat. There would have to be clear segregation between service lines, but by allowing people to move between arms, and enabling knowledge-sharing, the twin objections to forcibly splitting off firms – access to knowledge and talent retention – would be obviated.Obviously there would be issues to resolve. Since one of the more frequently raised issues with audit versus consultancy services is how much more profitable the latter is, there would have to be measures to ensure that there were still incentives to enter the audit arm.And it should be stressed that this would not guarantee an end to all corporate and management failures, nor enable auditors to foretell the future.It will not fix the problem of choice; we still need more than four players in the market, we still need challenger firms to scale up and enter the market, and in order to enable this we still need to address the disincentives to entry. Ring-fencing, however designed, can only be part of a package of wider measures.But it would start to address the highly damaging perception that big firms are allowing commercial decisions to unduly affect their audit work. It could provide reassurance to clients and the public around independence, and therefore help rebuild the critical trust necessary for audit to work properly.And, crucially, it would also go some way to guarding against the risk of market exit by one of the major firms, which would be destructive for both the market and the economy.Breaking up may be hard to do, but good fences good neighbours make. last_img read more

Joint audit could inject some competition into the market

first_imgTuesday 22 January 2019 8:02 am whatsapp Opinion Last week, the House of Commons’ Business, Energy and Industrial Strategy select committee opened hearings on its influential inquiry into the future of audit.Top of its agenda will be the proposed remedies set out by the Competition and Markets Authority (CMA) in its recent review, which could bring wholesale change in the UK’s listed audit market. David HerbinetDavid Herbinet is global head of audit at Mazars. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Share whatsapp center_img And even if fees were to rise, the overwhelming value of greater reliability of UK financial information would far outweigh moderate potential cost increases.Removing barriers to entry in the listed audit market is now firmly on the agenda. We will be pleased to play our part in the ongoing debate on how best to achieve these goals.There is a momentum for change, and the current sense of urgency must not be lost.Public trust in the financial state of the UK’s leading companies is at stake. Joint audits can and should be part of the solution. City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. There is broad consensus that the audit model for the largest companies is currently not fit for purpose. High-profile corporate failures such as Carillion have brought what was once considered a rather technical subject into the spotlight, and there is political will to drive through change.The CMA has concluded that the overwhelming concentration in the listed audit market, where the Big Four accountancy firms audit 99 per cent of the FTSE 100, poses significant threats to audit quality.Competition and quality in the audit market are inseparable. It is widely accepted that addressing the long-standing levels of concentration would raise quality, increase market resilience, and help meet the evolving needs of all stakeholders, including those of wider society.However, while there is broad agreement over what needs to happen, there are multiple opinions on how we get there. A range of solutions have been suggested, from a market cap to a split between audit and advisory businesses.At the centre of the CMA’s reform package is the idea of mandatory joint audit in the FTSE 350, with at least one of the auditors being from a challenger firm. Joint audit could inject some competition into the market The idea would be for each auditor to undertake a live review of the other’s work before arriving at a joint opinion on the accounts.This would increase levels of scepticism, improving the quality of corporate reporting, provide diverse expertise to assess the most complex issues, and enable regular rotation of work, which would reduce over-familiarity.Crucially, joint audit would unlock the energy and innovation associated with new participants in a market. It is a tried and tested way of reducing concentration, enabling smaller firms to gain experience and grow. In France, where it has been required for many years, concentration is less pronounced than in any other major economy.Despite these benefits, mandatory joint audit looks set to attract stiff resistance from some quarters.The opposition will focus in part on supposed cost increases, but analysis of the top listed companies in France compared to their UK counterparts shows no substantial evidence for the alarming claims made by some parties. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableybonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comPaws ZillaLily From The AT&T Ads Is Causing A Stir For One ReasonPaws Zilla Tags: Carillion Companylast_img read more

DEBATE: Have the Labour splitters helped the Conservative party?

first_img DEBATE: Have the Labour splitters helped the Conservative party? whatsapp Tuesday 19 February 2019 8:06 am Thanks to this lack of support, the campaign for a second referendum had appeared to be fizzling out. But yesterday’s resignations changed all that. No longer shackled to Labour, Luciana Berger and Chuka Umunna – politicians with star-quality, and passionate Remainers to boot – can devote all their time and energy to whipping up parliamentary support for another vote.And that is very bad news indeed for our beleaguered Prime Minister. City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. The seven Labour splitters have denounced the modern Labour party as bullies, antisemites, and effectively lacking the ability to run a bath, let alone a country. In so doing, they have provided the language with which the Tories will fight the next election.Furthermore, this new movement has yet to create the party apparatus that would be required for it to be a credible electoral challenger. It is conceivable that this may follow in time, and in the meantime members of the “Independent Group” may have some limited success in certain metropolitan seats. But I doubt their ability to split votes from the Conservatives at the same rate as they will inevitably do so from Labour.This new movement, therefore, just reinforces the argument that the only way to avoid a racist, incompetent government run by Jeremy Corbyn’s Labour party is to vote Conservative.Olivia Utley, deputy editor at TheArticle, says NO.In normal times, a dramatic and well-publicised split in the Labour party would be excellent news for the Conservatives. But we are not living in normal times.The raison d’etre of Theresa May’s Conservative government is to deliver the result of the referendum in some shape or form. As leader of the opposition, many expected Jeremy Corbyn to do everything in his power to impede the Prime Minister on this mission. But, to the consternation of many Labour activists and MPs, the old-school eurosceptic has refused point-blank to throw his weight behind a so-called “people’s vote”. Have the Labour splitters helped the Conservative party?Lauren McEvatt, managing director at Morpeth Consulting, says YES.After the next election, the UK government will either be run by the Labour party or the Tory party. That’s the reality of the electoral system. Share Lauren McEvattLauren McEvatt is managing director of Morpeth Consulting, and a former government adviser. and Olivia Utley whatsapp Opinion Tags: Chuka Umunna Jeremy Corbyn People Theresa Maylast_img read more

Unicredit poised to strike with rival Commerzbank bid if Deutsche Bank talks break down

first_img Tags: Trading Archive whatsapp Read more: Deutsche Bank denies reports it could raise €10bn for Commerzbank mergerDeutsche Bank has reportedly faced troubles in its discussions and Unicredit has developed plans to buy a large stake in Commerzbank and merge it with another German lender under its ownership, HypoVereinsbank.Deutsche Bank and Commerzbank began exploratory merger talks last month after Berlin signalled it would not object to any necessary cost cuts or job losses.Berlin has pushed for the merger to create a national banking champion after becoming concerned over the health of both banks.The merged bank would become the Eurozone’s second largest lender behind BNP Paribas, with around €1.9 trillion (£1.6 trillion) in assets and a market value of €25bn. But the potential tie-up has faced opposition from trade unions as well as major investors.Deutsche Bank shares also slid further following reports it had discussed raising up to €10bn fresh equity as part of the Commerzbank deal.CMC Markets analyst Michael Hewson said a deal between Unicredit and Commerzbank “made more sense” but would face a number of obstacles.He said: “Firstly it’s based on the current talks between Deutsche Bank and Commerzbank breaking down.Read more: Entire Commerzbank board paid slightly more than just one Deutsche banker “But even if that does happen – which seems likely given trade union opposition as well as the prospect of having to raise extra capital – they will also have to convince the German government, which owns a 15 per cent stake in the German lender.”He added: “The bigger question is whether this is a wise move given the concerns about the Italian banking sector, the low profitability of the German banking sector, and the prospect that interest rates are likely to remain anchored to the floor for years to come.” Callum Keown Unicredit poised to strike with rival Commerzbank bid if Deutsche Bank talks break down Italian lender Unicredit could be poised to strike with a rival bid for Commerzbank should merger talks with Deutsche Bank break down.Italy’s second-biggest bank is preparing a multi-billion-euro offer as Germany’s two biggest lenders continue talks, the Financial Times reported. whatsapp Share More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comConnecticut man dies after crashing Harley into live bearnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.com Thursday 4 April 2019 9:57 amlast_img read more

We must not attempt to bring the failed Iran Deal back to life

first_imgThe Obama administration staked its reputation on the belief that keeping the deal focused on narrow nuclear issues would yield a halo effect on Iran’s overseas behaviour and towards its own population.But rather than becoming a responsible member of the international community and directing the sanctions bounty it received to improving the economic lot of its people, Iran has spent the past years supporting Bashar al-Assad’s vicious forces in Syria and funnelling arms and money to terrorist groups like Hezbollah and Hamas.It is not often that President Trump is lauded for his accuracy, but he was not wrong about the JCPOA. The British government knows only too well the flaws in the deal, but has thus far chosen to spurn the transatlantic alliance in order to preserve the fiction spun by our Franco-German partners that this is somehow the only way to prevent a nuclear Iran.It isn’t. Only a comprehensive dismantling of Iran’s nuclear facilities and a commitment by the regime to abandon ancillary activities like missile development can give us the safeguards that we require.Through its repudiation of the JCPOA, Iran has finally forced us to choose between supporting a doomed deal that cannot deliver, or siding with our US ally in replacing it with something better that can.We should jump at this chance: a better demonstration of the power of British diplomacy and sanctions to make a real difference in the world will prove hard to find. The Joint Comprehensive Plan of Action (JCPOA), signed in a fanfare of publicity in 2015 between Iran and six countries, was hailed at the time as the way to curtail Iran’s nuclear ambitions.In exchange for suspending its nuclear programme, Iran would secure massive sanctions relief. Share City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. Thursday 9 May 2019 7:53 am For yesterday, Iran announced that it would be “suspending” parts of the JCPOA, keeping the enriched uranium stocks it was allowed to produce under the deal in the country, rather than selling them abroad as required under its terms.Threats followed about the resumption of production of uranium enriched to a higher level than allowed by the deal, and the development of Iran’s Arak heavy water reactor.Despite Iran claiming that it has not abandoned the JCPOA, it very much has: these developments are essential to the functioning of a nuclear weapons programme.The only remaining question is whether the Europeans accept this, and react accordingly with sanctions of their own, or pretend that there is a way to somehow stick the JCPOA back together.If it is to be the latter, they will not succeed. The JCPOA was doomed from the beginning owing to Obama’s hubris. He had determined that his historic role was to be to extend the hand of friendship to a theocratic Iranian regime that abused human rights at home and sponsored terrorism abroad. The world would be free from the menace of a nuclear Iran, while the country’s economy – brought to its knees by a highly effective US-led sanctions programme that was slowly choking the Iranian regime’s economic arteries on account of its illicit development of nuclear capacity – would have breathing space to recover.Barack Obama would win plaudits as the US President who had brought Iran back in from the cold, and with domestic pressure from economic protesters defused, the regime would live to see another day. It was supposedly the ultimate win-win situation.What could possibly go wrong?Four short years later, the JCPOA lies in tatters. A different US President, Donald Trump, withdrew the US from its stipulations last year, having claimed that it was “the worst deal in history”. US sanctions have been reimposed, together with the threat of secondary sanctions on any non-US company trying to flout the American provisions.Iran and the other five signatories – including our own government – tried to keep the deal alive. But all to no avail. whatsapp We must not attempt to bring the failed Iran Deal back to life center_img Alan MendozaAlan Mendoza is executive director of the Henry Jackson Society. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm Oraclebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemMisterStoryWoman files for divorce after seeing this photoMisterStoryPost FunThe Deadliest Snakes Ever Found On The PlanetPost Fun whatsapp Opinion US and international pressure had brought Iran’s economy to a point in 2015 where the regime was looking at economic collapse if sanctions continued.Iran’s clerics were likely to sign up to any deal offered in order to avoid being toppled through economic unrest. Yet rather than press home the advantage, Obama decided that making a bad deal with Iran was better than running the risk of walking away with no deal, which the Iranians had successfully persuaded him might happen.The JCPOA that emerged was not a cure to the Iranian nuclear programme, but merely a sticking plaster over it. Iran’s uranium enrichment process had been controlled, but its capabilities to perform enrichment not removed.The JCPOA frontloaded the release of Iranian funds impounded over sanctions, with no staggered release over time to ensure ongoing compliance. It included a sunset clause on the deal, meaning that Iran would be free to resume its nuclear programme at its conclusion, thereby kicking the can down the road.And it did not include restrictions on the delivery system for nuclear weapons – ballistic missiles – meaning that Iran could continue with a separate programme unhindered. Tags: Barack Obama Donald Trump People Terrorismlast_img read more

Goals Soccer Centres confirms investigation of former execs

first_img Goals today said: “Actions undertaken by Mr Gow and Mr Rogers while employees and directors of the company form part of the current investigations of the Company into the mis-statement of historic financial statements.” Goals Soccer Centres confirms investigation of former execs over accounting scandal Read more: Mike Ashley-backed Goals Soccer Centres to delist from stock market after ‘improper’ accounting The five-a-side football operator announced earlier this month that it was to delist from the stock market after an investigation into its accounting practices found “improper behaviour”. Troubled five-a-side football operator Goals Soccer Centres confirmed today it is investigating its former chief executive and chief financial officer in connection to an accounting scandal that has rocked the company. Yesterday, the Sunday Times reported that City watchdog the Financial Conduct Authority (FCA) had opened a probe into alleged fraud at the company. Former chief executive Keith Rogers and former chief finance officer Bill Gow had been named in previous press reports as subjects of investigations. whatsapp Goals today said: “The company can confirm no finalised conclusions have yet been reached, although as stated in the 02 August 2019 announcement by the company it is clear inappropriate actions have taken place. Once the company has concluded its findings the directors, alongside its advisers, will take appropriate action and liaise with the appropriate authorities.” whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarStuff AnsweredBest Mattress Deals for Seniors 2020Stuff AnsweredLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthGraber BlindsWindow Treatments So Sophisticated, It’s Hard to Believe They’re so AffordableGraber BlindsWolf & ShepherdNFL Star Rob Gronkowski Loves These ShoesWolf & ShepherdPsoriatic Arthritis | Search AdsWhat Is Psoriatic Arthritis? See Signs (Some Symptoms May Surprise)Psoriatic Arthritis | Search AdsBest Selling Grills | Search AdsTraeger Blaze & American Grills On SaleBest Selling Grills | Search AdsSenior Cars | Search AdsThe Best SUVs for Seniors (The Price Might Surprise You)Senior Cars | Search AdsPost FunRare Photos Show Us Who Meghan Markle Really IsPost Fun James Booth Trading in its shares was suspended in March after it said it had made a “substantial misdeclaration of VAT” totalling approximately £12m. Share Monday 12 August 2019 8:28 am Read more: City watchdog launches fraud probe into Goals Soccer Centres Read This Next’Drake & Josh’ Star Drake Bell Pleads Guilty to Attempted ChildThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The WrapIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamourTop 5 Tips If You’re Losing Your EyebrowsVegamourRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapWhat Causes Hair Loss? Every Trigger ExplainedVegamour50,000-Plus People Want Jeff Bezos to Go to Space and Never Come BackThe WrapSmoking and Hair Loss: Are They Connected?VegamourMLB roundup: Houston Astros extend win streak to 9Sportsnautlast_img read more

The social media giants are becoming digital graveyards

first_img Opinion In the final weeks of 2019, Twitter announced an imminent cull of inactive accounts. They aren’t helped by lack of guidance. Unhelpfully, GDPR kicked the can down the road. In this regulatory void, companies can do whatever they want, often developing policy reactively and hastily, usually in the wake of PR problems like Twitter’s gaffe last year. Companies can currently monetise or otherwise exploit the data of the dead, analysing it for market insights, using it to train artificial intelligence models, or holding onto it to retain living users who are loath to desert the lost loved ones that still reside on the platform in digital form. whatsapp If the concept of “digital estate planning services” sounds unfamiliar, you’re not alone, but it’s time we get acquainted with the idea. Until recently, we had no more need of it than the dead had need of privacy, but the worm has turned.  The big dog of social media companies isn’t the only one with problems. Innumerable businesses hoover up data without considering the end from the beginning, and most lack fit-for-purpose systems governing how to handle the data of the deceased.  Desultory users risked losing their Twitter handles and having to start building their social media presence all over again. Elaine KasketElaine Kasket is a psychologist, speaker, and the author of All the Ghosts in the Machine: The Digital Afterlife of Your Personal Data (2019). Blanket preservation, however, may not be the answer. Our digital legacies are often fully-fledged identities rather than mere footprints, and their contribution to the overheating of the world’s servers is not the only issue — they are also brimming with personally identifiable and often sensitive information.  According to scholars at the Oxford Internet Institute, digitally stored information grows four times faster than the world economy, and the fact that this data glut includes millions of online ghosts is an increasing issue for the companies that house them. Back in 2013 Google instituted an Inactive Account Manager, and Facebook followed suit with Legacy Contact the next year, allowing users to appoint a kind of digital executor. Facebook used to delete profiles upon death but changed its policy based on user feedback following the Virginia Tech massacre in 2007. Instagram memorialises accounts now too, and Twitter appears set to do the same. In its October report, the Data Ethics Commission in Germany  recommended that service providers be obliged to handle the data of the deceased appropriately, that quality assurance standards be set for digital estate planning services, and that post-mortem data protections be instituted by the state. What this will look like in practice, in Germany and elsewhere, is all to play for. Twitter back-pedalled just a day later, saying that it hadn’t anticipated the impact on the bereaved. But the emotional significance of such digital remains shouldn’t be news to anyone in Silicon Valley.  Share Bereaved people reacted badly. Those who had log-in details or device access rushed to post tweets that would preserve the profiles, their messages materialising on deceased people’s feeds like voices from beyond the grave.  City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M.center_img Social media companies didn’t mean to become digital cemeteries — they exist to connect living users, sell them things, and profit from their data. But 100 per cent of social media users will eventually die, and there are no virtual worms to nibble away all trace of our online lives: the email accounts, search histories, comments, posts, message threads, GPS tracking, and health data.  whatsapp Not everyone could do this, though. “I don’t have my dad’s log-in,” Drew Olanoff lamented in an article on TechCrunch. “I can’t ‘wake up’ his account to keep it safe.” Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterUndoBetterBe20 Stunning Female AthletesBetterBeUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoPost Fun25 Worst Movies Ever, According To Rotten TomatoesPost FunUndoNinjaJournalistMichael Jordan’s Divorce Settlement Has Finally Been Revealed.NinjaJournalistUndoThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef PickUndoTheFashionBallThe Most Beautiful Women In SportsTheFashionBallUndoCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstUndo It should be our testamentary right to dispose of a lifetime’s corpus of highly personal digital information as we see fit, but seizing back control may be harder than we think, and it may not happen without first breaking up the big tech companies that have succeeded the medical establishment and funeral industry as the new masters of death. But there was another implication: inactivity might also mean that the person behind the profile is no longer alive. Main image credit: Getty Monday 6 January 2020 4:32 am People may be outraged when digital remains disappear from online platforms, but of course they surrendered control over this eventuality long ago, when they agreed to the T&Cs which they probably didn’t read. Contrary to popular misconceptions about grief, maintaining a connection with those gone before is generally neither abnormal nor unhealthy, and continuing bonds with people’s digital legacies is common. Now that we write few letters and print few photos, our memorabilia tend to be stored as binary code and mediated by service providers.  Facebook may be an empire of social media now but it will eventually become the empire of death: the digital remains of 4.9bn people may be “buried” there by the end of the century, far outnumbering living users.  The social media giants are becoming digital graveyards The existence of these persistent digital legacies means that we carry our lost loved ones with us, in the palms of our hands. Our smartphones serve as both amusement parks and cemeteries.  Show Comments ▼last_img read more