Senate Banking Committee Approves Jerome Powell as Fed Chair

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Senate Banking Committee Approves Jerome Powell as Fed Chair Home / Daily Dose / Senate Banking Committee Approves Jerome Powell as Fed Chair Related Articles December 5, 2017 1,097 Views Previous: Property Preservation: Gaining Proactivity Next: Quicken Calls Lawsuit ‘Meritless and Frivolous’ 2017-12-05 David Wharton About Author: David Wharton The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Government, Journal, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The U.S. Senate Banking Committee met in full open session this morning and approved Jerome Powell as Chairman of the Board of Governors of the Federal Reserve System. The vote was 22-1 in favor, with Senator Elizabeth Warren as the sole dissenting vote.The matter must now go to a full Senate vote before Powell can officially be confirmed for the position.President Trump nominated Powell as Fed Chair on November 2. A Federal Reserve Board governor who previously worked as a private-equity executive, Powell will succeed current Fed Chair Janet Yellen. After Powell’s nomination, Yellen announced on November 20 that she would be resigning from the Federal Reserve Board in February 2018, rather than serving out the remainder of her term through 2024.Powell’s nomination met little resistance in the Senate. Although Powell is a Republican and was nominated by President Trump, Democrats voted for him almost unanimously in 2012 and 2014 when he was nominated for the Fed board by President Obama.During a June 1 speech to the Economic Club of New York, Powell said, “While the recent performance of the labor market might warrant a faster pace of tightening, inflation has been below target for five years and has moved up only slowly toward 2%, which argues for continued patience, especially if that progress slows or stalls.” Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] The Best Markets For Residential Property Investors 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

Wanted bulletin issued for attempted murder accused

first_imgMagistrate Leron Daly on Friday ordered the Guyana Police Force to issue a wanted bulletin for a Grove, East Bank Demerara (EBD) man who stabbed another following a row over the use of a yard toilet.Calvin George, 19, was expected to appear in the Georgetown Magistrates’ Court on Friday last, but failed to so do.The teenager is accused of wounding Orin Peters with intent to commit murder on April 11, 2018 at Kaneville, EBD.According to reports, Peters and George argued over the use of a toilet. Peters informed the court that George then armed himself with a knife and attacked him, stabbing him to his abdomen.Peters was picked up and rushed to the Diamond Diagnostic Hospital, and was later transferred to the Georgetown Public Hospital, where he was treated.George was placed on $200,000 bail on the condition that he lodges his passport with the Police.He was also ordered to not make contact with the VC or witnesses, or to cause anyone to do same. Also, as a condition of bail, George was required to report to the Grove Police Station every Friday until completion of the trial.The matter has been adjourned to June 22, 2018.last_img read more

BMW wins skirmish in 175M claim against Autoport over stored cars

first_imgTORONTO — BMW Canada has won a skirmish in its quest for $175 million in compensation from storage company Autoport for alleged damage to thousands of imported vehicles.In a ruling, Ontario’s Divisional Court ordered Autoport to foot the $10,000-a-day bill BMW says it’s been paying to preserve the vehicles as litigation evidence.The case arose after a brutal winter in February of 2015 during which, the German automaker alleges, 2,966 imported BMW and MINI models stored by Autoport in Halifax were unduly exposed to ice, water and salt. BMW argues the exposure created potential safety risks and recalled all the vehicles.In a July 2015 recall notice, Transport Canada warned of a serious safety risk. Corrosion, the agency said, could lead to sudden engine shutdowns, steering problems or fires. The recall affected 10 different BMW models — including higher end X7 and i8s from three different model years — and seven 2015 MINI models.BMW says it’s impossible to determine the extent of any damage without destructive tests, and, as a result, none of the vehicles could be made roadworthy and sold. The automaker wants to destroy all of them.The unproven suit, which alleges Autoport was negligent and breached its contract, seeks $175 million — the full value of the vehicles.Autoport denies any liability. It argues BMW’s claim is grossly exaggerated and the recall unreasonable. The storage company says none of 12 vehicles it has inspected showed any sign of damage, according to court documents.BMW argues its claim does not turn on proving any particular vehicle was damaged and says it doesn’t need the vehicles for the lawsuit. For its part, Autoport says it needs to examine the automobiles to mount a proper defence.It also wants to see the results of inspections BMW has done, saying it doesn’t know what specific investigations are required or whether examinations can be performed on only a small sample of the cars.The automaker says it has been spending about $10,000 a day — roughly $3.5 million a year — to keep the vehicles at three sites in Canada. It wants Autoport to foot the bill.The courts initially sided with BMW, but an appeal judge overturned the decision on the basis that the automaker, as plaintiff, was financially responsible for storing and preserving the litigation evidence. BMW appealed to Ontario’s Divisional Court.In agreeing with BMW, the Divisional Court panel said making Autoport pay for the storage gives it an economic incentive to preserve and test only as many automobiles as it actually needs for its defence.“Placing the financial burden on the plaintiff would give the defendant an economic incentive to delay its testing and exaggerate the number of vehicles to be preserved,” the panel said in its decision.“Autoport’s own experts can determine how many vehicles they need to preserve and test. Logic and the principle of proportionality suggest that it will be substantially fewer than the 2,500 vehicles currently in storage.”The appellate court ordered Autoport to pay for the storage to date. The company can also keep paying for the storage or take possession of the vehicles to do whatever tests it feels are needed, the court said.Colin Perkel, The Canadian Presslast_img read more

City to pay tribute to Kathak queen Sitara Devi

first_imgFew of us know that Kathak queen Sitara Devi had a very close connection with Bengal. She was born and brought up in Kolkata. Straddling the world of films and classical dance with equal elan, she also trained Bollywood heroines like Madhubala, Jaya Bhaduri, Kajol and Rani Mukerji during her lifetime. At very tender age, Sitara Devi got a chance to perform in front of Gurudev Rabindranath Tagore in Shantiniketan. After watching her performance, Tagore offered her some gifts while she requested for something which was eternal, his blessings. Finally Tagore blessed her with the title Nrityasamragini – Empress of Dance. Sitara Devi was only 16 years old back then. Also Read – Add new books to your shelfShe was recruited into the film industry early but she quit after a few films as she wanted to pursue her career as a Kathak exponent on stage. She made her film debut with Usha Haran in 1940 and went on appearing in films like Roti, Anjali, Mother India and so on. She performed at the Royal Albert Hall, got the Sangeet Natak Akademi Award, Padma Shree, Kalidas Samman but she refused to take Padma Bhusan as she once said, “Is this government not aware of my contribution to Kathak? I will not accept any award less than Bharat Ratna.” Also Read – Over 2 hours screen time daily will make your kids impulsiveOn the occasion of her death anniversary on December 24, Kalindi Darpan Socio-Cultural Organisation is all set to organise Smaran 2016,  remembering her. “She was very fond of Bengal and spoke Bengali fluently. This is the reason why we are holding the event in Kolkata, though Sitara Devi belonged to the Benaras gharana,” said Kathak exponent Vishal Krishna, her grandson. The event will be held at Dum Dum Rabindra Bhawan. Smaran 2016  will feature exponents from Delhi – Amit Khinchi, disciple of Pt Rajendra Gangani (Kathak legend) and Subhi Johri, student of  Pt Jay Kishan Maharaj. But the main performances will be offered by both  artists who are the grandsons of  Sitara Devi – Vishal Krishna and Kushal Krishna (tabla exponent ) from Benaras. Ace dancer Alokananda Roy will be the chief guest at the event.“It’s an honor for us hosting the prestigious event remembering the legend Sitara Devi where her family members are also involved. This is the only festival which is dedicated to the Kathak legend Sitara Devi. We love to promote the rich tradition of Indian classical dance forms among the youth”, said Soumali Ganguly, Secretary, Darpan socio-cultural organisation.last_img read more