Digby JonesLord Digby Jones is a crossbench peer and former director general of the CBI. whatsapp Main image credit: Getty HS2 is also a critical part of the Northern Powerhouse Rail and Midlands Rail Hub projects, both of which promise even better commuter connections. Add to that the dozens of businesses that have moved to the region to be part of the HS2 supply chain, and the hundreds of apprentices that are already training at the National College for High Speed Rail, and you start to get a sense of the magnitude of the economic impact HS2 will make Over the coming weeks, the government will publish at last the Oakervee report into HS2. It currently takes over an hour to travel by train from Birmingham to Nottingham or Manchester, and nearly two hours to get to Leeds. Commuters in towns like Crewe, Darlington, Grantham and Nuneaton struggle with substandard train services because of an over-stretched Victorian rail system. These opportunities and investments represent just a trickle. Building HS2 in full will unleash a flood of opportunity, jobs and prosperity for the Midlands and the north. Our failing rail network leaves talented entrepreneurs, ambitious students, and influential investors believing that they cannot rely on access to suppliers, customers, employees or opportunities. Investment falters, and jobs go elsewhere. HS2 is not just another transport project — it’s about the very bones of our economy. Show Comments ▼ Thursday 30 January 2020 6:10 am The real reason to build HS2 is to unleash productivity and prosperity across the country (AFP via Getty Images) Opinion Be in no doubt: our outdated and under-invested railway holds the economy of the north and the Midlands back, just as London’s super-connected transport network propels that city forward. It need not be this way. What if a business owner in Birmingham could quickly and easily travel to Leeds or Manchester for a meeting? What if a major foreign investor chose Nottingham because it sat at the heart of a well-connected workforce of millions? What if a working mum could easily commute to a new job in Birmingham, without having to move her family home from the north west? And it’s not just people whizzing back and forth between major cities that benefit. Vast numbers of the real winners from HS2 may never use the new railway at all: over 70 stations are set to gain extra capacity and new connections because of space freed up on existing lines. A host of major housing developments and regeneration schemes have been launched, including 4,000 new homes to be built right next to the new Curzon Street HS2 station. Peaky Blinders writer Stephen Knight has said that he wants to build a film studio there. Inward investors tell me time and again that they are choosing the Midlands because of the potential of HS2. Each of these decisions and opportunities may be individually small, but replicated across dozens of towns, hundreds of investors, millions of people, it adds up to a tidal wave of prosperity. Only HS2 can make this possible. Halve the journey time between our major cities in the Midlands and the north, and you create economic possibilities that simply did not exist before. Share How can I be so sure that HS2 will have such a tremendous impact on these regions? Because it’s already working. Come to Birmingham, the city where I was born, a city where an economic revolution is underway because of HS2. People in the Midlands and the north need this railway. For too long, they have been neglected and let down by a rail network that is not fit for purpose. You only need to look at the dismal experience of passengers on the Northern and Transpennine networks to see that. Capacity is crunched. Freight waits in queues on the motorways, spewing pollution. Commuters wait on crowded platforms and can’t get seats on trains. Airports are jammed up by super-short-haul UK flights, when the slots should be freed up for international journeys and global trade. 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 This is not just a railway project. It’s a tremendous economic intervention. So let’s take a deep breath, by all means take on board criticism where it can improve the scheme — and then get on and build it. We should pay due attention to these voices — any project, especially one as big as HS2, must be subject to rigorous public scrutiny. As always with any infrastructure project in the UK, expect howls of protest about the cost, impact, and expected benefits. However, to assess HS2 in conventional terms, merely as a transport upgrade, is to miss the point. The real reason to build HS2 is to unleash productivity and prosperity across the country. This is about the very bones of our economy. The review looks likely to give the green light to this massive investment in the infrastructure of the north and the Midlands — and it’s certain that there will be an almighty row about it. But once the facts have been carefully considered, we should get on and damn well build the thing. 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UK shrugs off deflation as prices rise 0.1 per cent in May Inflation rose by 0.1 per cent in the year to May according the Office for National Statistics, up from -0.1 per cent a month earlier, and ending a brief spell of deflation.”The largest upward contribution to the change came from transport services, notably air fares with the timing of Easter in April a likely factor in the movement,” the ONS said. Read more: Biggest wage increase in nearly eight years expected”There were also significant upward effects from food and motor fuels.”At the same time, downward pressure came from falls in the price of toys as well as computer games.Inflation had slipped into negative territory for the first time since the 1960s in April. But economists predicted this would be temporary – saying the price of air and sea fares were significantly lower than this time last year due to the unusual timing of Easter.So far, low inflation has been a boon for workers, whose real take home pay has increased – the Resolution Foundation suggested yesterday that employment data due out later this week will show average weekly wages rose at the fastest pace since 2007 in April.It predicts average weekly wages swelled between 2.5 per cent and 2.6 per cent year-on-year. And when combined with inflation falling 0.1 per cent in April, real wages rose between 2.5 to 2.7 per cent.”Today we see further evidence of an economic plan that is working, with a powerful mix of low prices and rising wages, which are continuing to grow well above inflation,” Chancellor George Osborne said.”This is good news for working people and family budgets, and shows the economic recovery is going from strength to strength.”(Source: ONS)Read more: Five key numbers from the Bank of England’s quarterly inflation reportThe Bank of England has previously said it expects inflation to hover around zero before rising “notably” towards the end of this year, as the impact of low oil and food prices fade away.However, economists said today inflation is still well below the Bank of England’s target of two per cent – meaning it remains unlikely to hike interest rates anytime soon.Read more: 33 charts showing how UK inflation rate compares to every inflation rate in every EU country”The recent strengthening of sterling, which has the effect of reducing the cost of imports, will help offset the [impact of rising oil prices],” Chris Williamson, chief economist at Markit, said.”The bank will also be in no rush to start raising interest rates merely on the back of higher oil prices, and policymakers will want to see evidence that core inflation and wages are showing more convincing upturns.””Inflation of only 0.1 per cent in May hardly increases pressure on the Bank of England to raise interest rates anytime soon,” Howard Archer, chief economist at IHS, said. whatsapp Jessica Morris whatsapp Tuesday 16 June 2015 4:12 am Show Comments ▼ Share Tags: UK inflation
The Brent crude oil price is holding steady at around $85 per barrel in trading today, as the markets take a breather from the doom and gloom of the past week when global stocks plunged to their lowest level for over a year on weaker demand prospects for international trade.Fuel is the single biggest cost for ocean carriers, and its price has declined by 17% since the beginning of the month to around $464 per tonne for Rotterdam-sourced IFO 380, which is $140 per tonne lower than the average cost in 2013.Analysis published today in Drewry’s Container Insight Weekly concludes that on a hypothetical Asia-North Europe round-trip, for an 18,000teu ship with an average a speed of 17 knots and 100% utilisation, the difference in slot costs would be around $50 per teu.Although in practice, vessels never reach this load factor, the savings for carriers are nonetheless hugely significant, and Drewry asks how BAFs (bunker adjustment factors) are adjusted when fuel prices decline.BAFs are a throwback to the days of liner conferences, when it was almost impossible for a shipper to calculate the cost of transporting a container from A to B due to the commodity tariff rate basis and the long list of surcharges levied on top – including bunker surcharges.Today, container freight rates are mostly on an FAK (freight all kinds) basis, but bunker and currency surcharges are still applicable.Although most major carriers operate their own system for calculating bunker and currency surcharges, many shippers are suspicious that the formulae used are weighted in the favour of the container line, and thereby just another way of getting rate increases through the back door.Carriers, of course, strongly refute this suggestion pointing to the transparency of their calculations, but with the dramatic fall in oil prices in the past few months, the debate is likely to be resurrected.Drewry estimates that carriers typically recover only about half of their fuel cost increases through surcharges and are therefore much more exposed when bunker prices are climbing – thus they could understandably be reluctant to reduce BAFs when prices are falling, also pointing to the fact that the oil markets are volatile.Moreover, Drewry notes that because high-volume shippers are often “won over with BAF-free, all-in contracts”, lower bunkers are a “profit tailwind for carriers”.However, it says that a sustained reduction in fuel prices “will result in lower annual contract rates” as shippers point to lower oil prices during contract negotiations.As for whether sustained lower fuel prices will mark the end of slow-steaming practices, Drewry concludes that slow-steaming is here to stay for another reason: the fact that more ships need to be deployed on tradelanes because of overcapacity. By Mike Wackett 20/10/2014
Business STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. What’s included? Kate Sheridan A truck in Cambridge, Mass., carrying a mobile billboard promoting life sciences in Maryland. Courtesy Maryland Commerce Department What is it? Even under the no-holds-barred rules of biotech, it’s a particularly shrewd move, one that might prompt guffaws from knowing insiders.But there it was this week, tooling around the streets of Cambridge, Mass., the hub of American biotechnology: a truck carrying a mobile billboard promoting life sciences in … Maryland. Tags biotechnology About the Author Reprints Unlock this article — plus daily market-moving biopharma analysis — by subscribing to STAT+. First 30 days free. GET STARTED Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. GET STARTED [email protected] By Kate Sheridan Sept. 19, 2018 Reprints General Assignment Reporter Kate covers biotech startups and the venture capital firms that back them. In the battle for life sciences companies, one state shows up behind enemy lines @sheridan_kate Log In | Learn More
Pinterest RELATED ARTICLESMORE FROM AUTHOR Home Sport Rugby Away day blues as Portlaoise suffer first loss of the season SportRugby Facebook Twitter By Steven Miller – 28th October 2018 Wexford Wanderers 18 Portlaoise 8Rugby – Leinster League Division 2AThe Portlaoise rugby team suffered their first loss of their Leinster League Division 2A campaign when they went down 18-8 away to Wexford this afternoon.Following three opening round wins, the loss stalls Portlaoise’s progress.Jack Redding, last week’s match winner against Clondalkin, opened the scoring with a 10th minute penalty but Wexford struck for a 16th minute try and added penalties in the 21st and 34th minute to go in at the break leading by 11-3.Portlaoise upped their game considerably on the restart and were rewarded when Robin Foot touched down after good forward pressure and an effective drive.That reduced the gap to three but the home side made sure of the win with another try and conversion with ten minutes remaining and Portlaoise couldn’t take anything from the game. WhatsApp Pinterest Community Paddy McEvoy’s side will now need to up their performance and commitment in the coming weeks, beginning next week at home to bottom side New Ross.The loss sees them drop to fourth in the table, two points behind today’s opponents and three behind joint leaders Clondalkin and Newbridge, two sides that Portlaoise have beaten this season.Meanwhile, the Portlaoise seconds suffered their second big loss in a week – they went down 41-7 to Wexford today.PORTLAOISE: Niall Keenan; Jamie Holohan, Armand Smit, Simon Williams, Michael Fennelly; Jack Reddin, Philip O’Brien; Paudie Bourke, Harry Lalor, Eanna Delaney; Diarmuid Joyce, Will Sherlock; Mark Sherlock, Ross Cooper, Robin Foot. Replacements: Pat Breen, Sean Smyth, Ian Corrigan, James Dowling, Brian FlannerySEE ALSO – Beat the Barge in Vicarstown is back for another year Twitter TAGSPortlaoise Rugby Club WhatsApp Community Council Laois secondary school announces scholarship winners for new academic year Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ Away day blues as Portlaoise suffer first loss of the season Facebook New Arles road opens but disquiet over who was invited to official opening Previous articleThe interview of the year, Presidential Polls and You’re a Star – It’s our top storiesNext articleAll of this week’s local CCFL soccer results Steven Millerhttp://www.laoistoday.ieSteven Miller is owner and managing editor of LaoisToday.ie. From Laois, Steven studied Journalism in DCU and has 14 years experience in the media, almost 10 of those in an editorial role. Husband of Emily, father of William and Lillian, he’s happiest when he’s telling stories or kicking a point.
Incentive conflicts, regulatory burdens on AMF agenda Former Wells Fargo exec sanctioned NASAA warns investors about cross-selling risks The FCA is making the move after its research into insurance add-ons found that opt-out selling often results in consumers purchasing an insurance product they don’t need. Some consumers are not even aware they have bought an add-on, it notes. “Too often consumers are not able to make an informed decision on whether they need or want the insurance that is part of the opt-out package,” it notes. The ban would apply to any add-on sales of regulated or unregulated products offered alongside financial primary products. The FCA says that it will consult with the industry on the proposals to ban opt-outs, which will include new guidance for firms on providing information to consumers about add-ons in the sales process. “This is about ensuring consumers can make the right decision on what add-on insurance they do or don’t need. Forgetting to un-tick a box at the end of a purchase is not making an informed choice,” said Christopher Woolard, director of strategy and competition at the FCA. “Our work shows that the opt-out model means too often consumers are buying a product when they have not been able to give any thought to whether or not they need it. These proposals will mean that consumers will be in a better position to decide what they want and consider the options available to them. Fewer consumers will end up with products they didn’t want or don’t even know they own,” Woolard added. In circumstances where firms do offer add-on products, the FCA wants them to provide consumers with better disclosure that will allow them to make an informed choice on what, if any, add-on products they need, and to identify the most appropriate package for their needs. The proposed guidance encourages firms to introduce the most common add-ons to consumers earlier in the sales process, and to make it easier for them to compare packages of the primary product and add-ons. The consultation period ends June 25. Share this article and your comments with peers on social media Keywords Sales practices, United KingdomCompanies Financial Conduct Authority James Langton British regulators are putting a stop to financial firms using selling practices that require consumers to opt-out of certain products. The UK Financial Conduct Authority (FCA) said Wednesday it will ban opt-out selling in financial services markets — which is the practice of defaulting consumers into buying a product that they must opt out of to refuse. For example, some firms currently use pre-ticked boxes to sell add-on insurance. Related news Facebook LinkedIn Twitter
Related news New York-based registered investment advisor FeeX on Wednesday announced the launch of a new service to show investors the impact of advisory fees on their portfolios over the long term, and to direct them into cheaper products, or to new advisors that will lower their costs. The FeeX for Advised Accounts service provides investors with two scenarios — the estimated future value of their portfolio if they do nothing, and the estimated future value is they follow fee reduction suggestions, FeeX says in a statement. BMO InvestorLine launches commission-free trading for ETFs Paying RRSP, TFSA investment fees from outside the accounts not an advantage, Finance says Keywords Commissions and fees Vanguard goes commission-free Facebook LinkedIn Twitter James Langton Share this article and your comments with peers on social media If clients decide to take action, they can either instruct their existing advisor to make changes to the portfolio that will lower costs, or FeeX will help them switch advisors by providing them with a list of lower-fee advisors vetted by the firm, the company’s statement says. “Our users are often outraged when we show them just how much they are paying in fees — all too often total fees exceed 2% — 1% or more in advisor fees and 1% for their portfolio allocation,” says CEO Yoav Zurel, in a statement. “When you compound 2% over a period of 30 years this could mean that up to two-thirds of your account ends up going toward fees, and unfortunately in addition to the high cost, users we talk to often express displeasure with the level of service they receive from their advisor too.” The results of the service’s analysis are provided in dollar terms, rather than percentages or basis points, which, the firm says, the investment industry uses “to inhibit transparency.” As well, the service also flags any “non-fiduciary activities” in the investor’s portfolio, such as the payment of trailer fees, or “other unnecessary fees,” FeeX says. In Canada, regulators are aiming to address similar concerns by requiring much greater cost transparency from firms. In July, new requirements will take effect that will require firms to start providing clients with new annual reports detailing the costs of investing in dollar terms. See: CRM2 Guide 2015 Additionally, Canadian regulators are considering reforms, such as banning trailer fees, and imposing fiduciary duties on advisors.
RelatedCARICOM Committed to Long-Term Support for Haiti RelatedCARICOM Committed to Long-Term Support for Haiti CARICOM Committed to Long-Term Support for Haiti Foreign AffairsJanuary 24, 2010 FacebookTwitterWhatsAppEmail Executive Director of the Caribbean Disaster Emergency Management Agency (CDEMA) Jeremy Collymore, has reiterated the region’s commitment to offer “appropriate and targeted” support to Haiti over the long-term.Speaking to journalists yesterday (Jan.22) via satellite from Barbados, Mr. Collymore noted that Jamaica would continue to lead CARICOM’s efforts in its role as the CDEMA Sub-Regional Focal Point (SRFP) with responsibility for Haiti.CARICOM has chosen to focus its aid in the area of health, and Mr. Collymore informed that about 350 CARICOM nationals are currently in Haiti helping with the relief efforts.He said that in the last 48 hours, members of the medical team had delivered more than 400 treatments and 30 surgeries, including amputations. The team has also, since being in Haiti, rescued three persons alive, while recovering several bodies.“In terms of emergency supplies, though we have not quantified it, several shipments of water, emergency blankets, health materials, like pharmaceuticals, etc., have been moved into the area,” he told journalists.CDEMA is also responding to airlift challenges by placing an aircraft in Jamaica to help move some of the emergency personnel and supplies into Haiti, while another aircraft donated by Bermuda will periodically airlift supplies out of Jamaica to Haiti. Mr. Collymore also informed that it is expected that by Monday (Jan. 25) 15 per cent of the port in the Haitian capital will be repaired to allow some access by sea.“On the ground, the damage to the infrastructure is already impeding people’s ability to move around. These are some of the issues that the Community is now looking at with respect of our own resources and already, plans are in place to identify a barge or some large vessel to move heavy vehicles and fuel into the operating area,” he told journalists.CARICOM has also enhanced its presence in Haiti with a Special Co-ordinator appointed by CDEMA, who is working with the Haiti Civil Defence Protection, and the CARICOM security forces, international donors and the humanitarian community on the ground, to ensure sustained and effective co-ordination of the CARICOM relief efforts.Mr. Collymore also informed that eight CARICOM countries have together contributed US$4 million towards relief efforts.Meanwhile, four Caribbean nationals, who were in Haiti for a civil aviation meeting, remain unaccounted for. Two of them are from the Netherland Antilles, one from St. Lucia and the other from Trinidad and Tobago. They were all staying at the Hotel Montana in Port-au-Prince, which experienced massive damage from the earthquake. RelatedCARICOM Committed to Long-Term Support for Haiti Advertisements
Push for life saving Bunbury Hospital stroke unit Stroke Foundation is urging the next Western Australia state government to invest in a stroke unit at Bunbury Regional Hospital to save lives and improve outcomes from stroke.A dedicated stroke unit at the new hospital is one of three key actions in Stroke Foundation’s Western Australia Election Platform Step up for stroke. These actions would strengthen the state’s treatment, care and prevention measures, by building on the recent expansion of the WA Telestroke Service and targeted community education. Stroke Foundation Western Australia State Manager Luke Hays said stroke strikes the brain and can change lives in an instant.“More than 2700 Western Australians will experience a stroke for the first time this year, many of these strokes will be experienced by residents in the state’s South West,” Mr Hays said.“Each year Bunbury Regional Hospital admits more than 100 stroke patients, yet the hospital does not currently have the specialist focus and expertise to deliver the stroke treatment and care we know improves outcomes.“A local stroke unit makes sense, it would reduce unnecessary transfers, speed up treatment and improve care, ensuring our health system is more efficient and sustainable.”Busselton resident Rodney Oates had a stroke in 2016. Following the stroke, Rodney was taken to Bunbury Regional Hospital. The local hospital did not have the facilities or expertise to diagnose and treat his stroke. Rodney was then transferred to Perth. It was two days before Rodney’s stroke was finally diagnosed.Time is critical when treating stroke. When a stroke strikes it kills up to 1.9 million brain cells per minute, but treatments can stop this damage.Rodney said I had to relearn to walk and talk, and despite intensive rehabilitation I have not regained the use of my right arm.“As a result, I’m no longer able to work and we had to make the heart-breaking decision to sell our farm and move to Busselton to focus on my rehab.“People living in the South West, like me, shouldn’t miss out on the highest quality stroke treatment just because of where they live.”Stroke Foundation’s Western Australia Election Platform Step up for stroke proposed these key actions to help Western Australians avoid, survive and thrive after stroke:Continue and expand the successful F.A.S.T. (Face, Arms, Speech, and Time) Community Education Program supporting the WA Telestroke Service.StrokeLink – Using data and expertise to drive better health care for all Western Australians.Stroke unit at Bunbury Regional Hospital.Mr Hays applauded the rapid response from the current Western Australian Government to addressing the coronavirus (COVID-19) pandemic and encouraged the lessons from this experience to be applied to chronic disease more broadly.“Decisive action in preventing the spread of the virus demonstrates the value in prevention, early detection and intervention. These strategies can and should be applied to other health issues,” he said.“We have an opportunity to take the next step forward. All Western Australians deserve an equitable opportunity to survive and live well after stroke”.Image: Survivor of stroke Rodney Oates and his wife Kelly support the push for a stroke unit at Bunbury hospital. /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 Government, Bunbury, Busselton, chronic disease, coronavirus, early detection, education, Government, health, Perth, prevention, stroke, Stroke Foundation, sustainable, WA, Western Australia