first_img 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The Federal Open Market Committee begins its two-day meeting today – its first since increasing the federal funds target rate by a quarter point in December.NAFCU Chief Economist and Director of Research Curt Long said he does not expect another rate increase this month.“We expect the FOMC will make no change in the federal funds target rate during this week’s meeting,” said Long. “Weakness and volatility in the stock market combined with a lack of inflationary pressure will likely give the committee pause before it takes the next step in normalizing rates.”The FOMC raised the federal funds target rate to a range of 0.25 to 0.5 percent in December. The FOMC has forecast four rate hikes in 2016 and four more in 2017 – but Long has said the actual pace of normalization will depend on the future performance of the economy and inflation. continue reading »last_img read more

first_imgAside from propping up its data center business, Telkom is also strengthening its tower business through its subsidiary PT Dayamitra Telekomunikasi (Mitratel). “In time, we will need to unlock Mitratel, either through an initial public offering or strategic partnership,” Andi said. In line with the plan to increase Mitratel’s valuation, around 5,000 to 6,000 of Telkomsel’s towers would be consolidated to Mitratel, the company said.Mitratel’s market share, in terms of total industry revenue, increased from 28 percent in the first half of last year to 29 percent in the first half of this year, making it the second-biggest player in the industry. Mitratel’s business is projected to continue to expand against the backdrop of a growing market driven by the transition to 4G and a strong customer base with predictable revenue streams, as the tower business offers long-term contracts. Telkom, whose line of business includes providing mobile voice and SMS services through its subsidiary PT Telekomunikasi Selular (Telkomsel), reported that its revenue decreased by 3.6 percent year-on-year (yoy) to Rp 66.9 trillion in the first half of this year. Andi noted that Telkom’s revenue from its SMS, fixed & cellular voice segment decreased by 27.5 percent to Rp 13 trillion. By contrast, revenue from the company’s data, internet and technology services segment and IndiHome grew by 6.8 percent and 19.1 percent to Rp 35.3 trillion and Rp 10.4 trillion, respectively. Within Telkomsel alone, its digital business segment grew by 13.4 percent during the first six months of this year. Meanwhile, its legacy segment declined by 29.7 percent. The growth in the former, however, had yet to compensate for the downturn in the latter as Telkomsel’s total revenue contracted by 2.4 percent yoy. “Indeed, the trend of increasing connectivity has brought about alternative solutions for SMS and voice; our revenue experienced a slump, but mostly from the legacy business segment,” Doni Andriansyah, Telkomsel’s financial planning and business partner senior vice president said. Mirae Asset Sekuritas Indonesia analyst Lee Young Jun wrote in a report published on Aug. 11 that Telkom’s first-half performance was in line with the securities firm’s forecast. “In the first half of the year, net profit came in at Rp 11 trillion, achieving 59 percent of our forecast or 54 percent of consensus’. All in all, we think the result was in line with our forecast,” the analyst said.Topics : State-owned telecommunication giant PT Telekomunikasi Indonesia (Telkom) is bolstering its data center business and plans to strengthen its tower enterprise against the backdrop of dwindling revenue from its legacy businesses.Telkom vice president of investor relations Andi Setiawan said the company would be capitalizing on the shift in consumer behavior, as more people and enterprises were using data to work, study and do more activities online.“Within our enterprise segment, we are focusing on businesses with good profitability, including data center, cloud, connectivity and enterprise solutions while limiting businesses with low margin, in this case, device-related businesses,” Andi said in a virtual company update hosted by Samuel Sekuritas on Tuesday.  Telecommunication firms have benefited from the work-from-home policy and online learning programs implemented nationwide as a result of social restrictions imposed to limit the spread of the coronavirus. A surge in data usage was recorded as companies, schools and government offices are forced to digitize their operations. Telkom was building a data center on the outskirts of Jakarta, with the first phase of development to conclude by mid-2021, said Andi. Telkom owns three data centers in Indonesia through its subsidiary TelkomSigma, located in Serpong, Sentul and Surabaya. According to the company’s annual report, 74 percent of the total capacity of the three data centers had been utilized by the end of last year. TelkomSigma currently holds the biggest share in the data services market at 43 percent, according to company data. The second biggest data center company only owns a 24 percent market share.last_img read more

first_imgBrisbane-based finance guru and QUT adjunct professor Noel Whittaker. Picture: AAP/John Gass.“Provided you intend to keep your house for a long time. any spare money you have should be used to pay off the loan because that increases your equity, which you can then borrow against to buy property or shares. “I prefer shares because the name of the game is diversification, and seeing you already have a big chunk in residential property, I’d advise going for shares.“If you buy a property investment, the key is to add value, and you can’t add value if it’s a brand new house or apartment.” The great debate: pay off your mortgage or invest in shares or more property?IT’S a common dilemma.You’ve been working hard, and between rising power prices and low wage growth, you’ve somehow managed to save a decent amount of dosh.Now you find yourself asking the question: Do you use it to put a dent in your mortgage (if you have one) or do you invest it in the sharemarket or more property?Omniwealth senior financial planner Andrew Zbik recently took on a client who was faced with the same quandary.They had saved $300,000 and had a $600,000 non-deductible home loan. At the current interest rate of 4.5 per cent, the loan had principle and interest repayments of $3493 a month. Ominwealth senior financial planner Andrew Zbik. Picture: AAP/Julian Andrews.The client sought advice from another financial planner about what to do with their savings and were advised to invest it in a combination of managed funds, rather than put the money towards the mortgage.“To pay off the home loan over the next twenty-three years, my new client will have to make total loan repayments of $964,158 back to the bank,” he said. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE “They are on the second highest marginal tax rate. Therefore, they will need to earn $1,593,650 over the next 23 years to have enough income after tax to pay back $964,158 to the bank for the $600,000 that is currently owed on their home.” What’s the better investment strategy? Pay off your mortgage or invest in shares or more property? Photo: Luis Enrique Ascui.Mr Zbik said he would have recommended using the $300,000 to reduce the home loan debt, which would have reduced the monthly principle and interest loan repayment, saving the client more than $180,000 in repayments.“With the new equity in the home, we may use this as a deposit towards an investment property or to draw new debt and purchase a diversified investment portfolio,” he said. “If we were to redraw $300,000 to invest in the exact same investment portfolio all the loan repayments would be tax deductible. Tenants from hell on the rise Mortgage stress continues to rise More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour ago Brisbane’s most in-demand suburbs “The end position would be very similar. My clients will still have a $300,000 investment portfolio. They will still have around $600,000 debt.“The significant difference is that half of that debt would now be tax-deductible because my clients have halved their non-deductible principle and interest home loan repayments.”Finance guru and QUT Business School adjunct professor Noel Whittaker agrees using the money to pay down your mortgage is the best first step.“First thing, get your mortgage under control,” he said. “I think at least for every $100,000 of your mortgage, you want to be paying at least $900 a month.” What’s the better investment strategy? Pay off your mortgage or invest in shares? Picture: Brad Hunter.But if you ask stockbroker Marcus Padley, shares are lot less hard work than property.“When you buy BHP shares you don’t have to fix the loo, send them $45,000 to renovate or worry about that finders fee, the real estate commission, stamp duty and legals,” he wrote recently. But he also believes it’s ultimately a personal decision.“If you are good at equities, which are hard, stick to equities,” he said.“If you know the property market stick to property. I have both.”Bessie Hassan, money expert at, said both servicing a mortgage (beyond the minimum repayment) and investing in shares could yield attractive returns, but it was important to consider the downside of each option.“Channelling money towards your mortgage in the form of extra repayments can save you thousands of dollars in interest,” she said.“However, throwing extra funds towards your mortgage could mean you lack a diversified strategy as your wealth will be tied up in the residential property market. “This means you could leave yourself exposed if property prices dampened or the market took an unexpected U-turn.“However, like the property market, shares are also susceptible to ups and downs, and shares are also subject to income tax.”last_img read more

first_imgThis is the whole idea behind this type of investment, he said.PensionDanmark said it now had DKK9bn in direct infrastructure investments and expected to double this over the next four years, with most of the new investment being made in energy-related infrastructure.The investment in NGT should be seen as complementing its existing investments in wind farms and biomass facilities, the fund said.NGT consists of around 470 kilometres of offshore pipelines with a daily gas capacity of about 42m cubic metres.The pipelines carry gas from the Dutch sector of the North Sea to a treatment terminal on the north coast of the Netherlands, where the fuel is then distributed through the Dutch gas network, PensionDanmark said.France’s GDF Suez E&P operates the pipelines.The overall NGT system comprises not only the pipelines but also two offshore platforms, as well as a treatment terminal.NGT is also owned by GDF Suez with a 38.57% stake, XTO Energy with 10% and Rosewood Resources with 11.43%.TAQA bought its stake in the pipeline system from Royal DSM in 2009.Completion of the deal now depends on EU approval, as well as other factors, PensionDanmark said.Ancala Partners advised PensionDanmark on the transaction. PensionDanmark, the first Danish pension fund to invest in Europe’s gas supply network, has bought a 40% stake in Dutch gas pipeline system Noordgastransport (NGT) for DKK1.3bn (€174m).The labour-market scheme, which manages more than DKK145bn, said it bought the equity stake from Abu Dhabi-based energy company TAQA.NGT owns an offshore pipeline network carrying natural gas from fields in the North Sea for treatment in the Netherlands.Torben Möger Pedersen, chief executive of the fund, said: “This investment is attractive because it generates an attractive inflation-linked return with a very low correlation to the business cycle and PensionDanmark’s other investments in equity and fixed income.”last_img read more

first_imgAgents Deborah and Fraser Evans of RE/MAX – Results said it was a rare find.“This haven is a hidden gem. Definitely this close Brisbane, only 20 to 25 minutes from the CBD, it is the least amount of homes in a suburb that we know of. It is very small,” he said.“We’re having a lot of comments (from interested parties) about these acreage properties being the best place to be in social isolation. You don’t have to go away on an Easter break when you’re in a suburb like this with pools, tennis courts, walks.” 645-655 Ford Road, Priestdale, is one of two properties for sale in the suburb where there are just 15 homes all up.Only one other property in Priestdale is on the market, also on Ford Road, which agents Zishaan Omar and Shayley Cherry of Ray White Rochedale described as being “one of Brisbane’s best kept secrets”. “You can enjoy the best of acreage living, without compromising the convenience of the places you love,” was how it was listed with wildlife galore including King Parrots, lorikeets, and wallabies. FOLLOW SOPHIE FOSTER ON TWITTER 579 Ford Road, Priestdale, is for sale, one of just 15 houses in the suburb.The Queensland suburb of Priestdale is so exclusive it consists of just 15 properties, and two of them are on the market, including the dream home of one of the city’s young richlisters.Straddling the border between Redland Shire and Logan City in the Greater Brisbane region, Priestdale is a sort of no-mans-land, where only 15 families live surrounded by state forest, national park and conservation areas. Borrowing will get cheaper despite RBA holding on rates Australia among best placed nations for coronavirus bounceback Gold Coast penthouse reno “more tacky than luxe”center_img MORE: What the COVID-19 eviction moratorium means 579 Ford Road, Priestdale, fetched rent of $2000 a week for the past three years.According to Logan City Council, Priestdale was registered as a locality more than 41 years ago. Not much has changed, except the homes that sit hidden among the trees.Steve Scanlan is among its more high-profile homeowners, and it is his property at 579 Ford Road, which he has let for the past three years, that is now on the market. Mr Scanlan was named Brisbane’s young entrepreneur of the year three years ago, and has made millions selling shares in his tech company Recon Solutions and listed labour hire company People Infrastructure.He told The Sunday Mail that his dream was to live out his days on an acreage, especially in an area that flew under most people’s radar. “Priestdale is a beautiful area and one not many people have even heard of,” he said. Steve Scanlan prefers acreage to inner city living.“One side of the street (Ford Road) is Burbank and the other is Priestdale.”“The suburb is largely made up of heritage land that the government owns, made up of bushwalking tracks and horse riding tracks. It’s incredible.”It was there that he sunk his savings into a dream property.“This was my dream home, tennis courts, lake, big pool and entertaining area only 20 minutes from the city on a good day,” he said. “The problem is, because its acreage it isn’t my new wife’s dream home.”“I have been renting it out to a CEO of a large energy company for the past three years for $2000 a week and they left in March and I have tried to convince my wife to move back there, but she won’t let me unfortunately.”More from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours ago Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. 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first_imgThe European Commission (EC) is reviewing the acquisition of LM Wind Power by GE to determine whether GE filed misleading information regarding its offshore wind technology plans during the review of the acquisition. The EC approved unconditionally approved the deal only two months ago, concluding that the deal would not result in a significant reduction in competition in the EU’s Single Market.However, the commission is now examining information given by GE during the review that implied the company did not have plans for rolling out next-generation offshore wind turbines with a capacity of up to 12MW, while the EC subsequently found out the company did have such plans, according to Bloomberg.The investigation could result, among other sanctions, in GE paying a penalty of up to 1% of its annual sales.GE produces onshore and offshore wind turbines, while LM Wind Power designs and manufactures blades that are sold to GE and its competitors as a component for the wind turbines.During the review prior to the approval of the acquisition, the commission’s investigation focused on the effect of the transaction both on the upstream market for the manufacture and supply of wind turbine blades, as well on the downstream markets for the manufacture and supply of onshore and offshore wind turbines.GE has a relatively small market share in both onshore and offshore wind turbines, the commission said. Although LM Wind Power has a significant market share, the commission found that its market position has been decreasing in the past few years and in-house blade production also has to be taken into account.Based on the results of its market investigation, the commission concluded that competitive concerns would be unlikely to arise after the transaction because GE would not be in a position to significantly affect the upstream market. In particular since competing blade manufacturers would continue to have access to wind turbine manufacturers other than GE.In relation to the downstream markets, GE would continue to face significant competition from other major turbine manufacturers, such as Siemens, (MHI) Vestas, Nordex and Senvion, who either manufacture their blades in-house and/or are not dependent on LM Wind Power for supplies, the commission said in March.last_img read more

first_imgNY Governor Andrew M. Cuomo yesterday announced $2.5 million to increase the resiliency of the Sauquoit Creek through the construction of an innovative floodplain ‘bench’ that will store and slow floodwaters and protect downstream communities. In addition, the governor announced new coordinated state actions to help Mohawk River Basin communities hard hit by recent floods that will include $250,000 in new funding.This announcement complements the ongoing multi-agency flood response efforts of the Departments of State, Environmental Conservation and Transportation, as well as Division of Homeland Security and Emergency Services, and local emergency personnel.“As severe weather becomes the new normal, it is critical that all levels of government coordinate effectively and advance projects that enhance the resiliency of our infrastructure,” governor Cuomo said. “This investment will protect homes and businesses along the Sauquoit Creek for years to come and help prevent future flood events in the Mohawk Valley.”Pending regulatory approval, necessary permits and land acquisitions, construction is anticipated to begin in spring 2018 and be completed by 2019.last_img read more

first_imgSmart Approaches to Marijuana SAM 8 July 2019Family First Comment: “If you truly think that the legalization, commercialization, and normalization of marijuana has led to less young people using it, I have a bridge to sell you.”– Kevin Sabet, SAMToday, a study published in JAMA Pediatrics purports to show the legalization of marijuana leads to a reduction in teen use of the substance. This study, funded in part by the pro-drug legalization Charles Koch Foundation, is flawed for several reasons:It is based on the CDC YRBS, which completely omits Oregon and Washington – two large legal states – in 2017It also excludes young people who are not in school, such as dropoutsAccording to the most comprehensive survey on drug use, the National Survey on Drug Use and Health — which includes all young people in households, not just those who gave permission to take a school survey — youth use of the drug is on the rise in legal states while declining in states that have not legalized the substanceThe study was partially funded by the Charles Koch Foundation, which is partially dedicated to legalizing marijuana (like Koch Industries)“To put it simply, this study is awash with problems,” said Dr. Kevin Sabet, founder of Smart Approaches to Marijuana (SAM) and a former senior drug policy advisor to the Obama Administration. “The data here runs counter to what we see from the National Survey on Drug Use and Health: youth use is on the rise in ‘legal’ states while declining elsewhere. If you truly think that the legalization, commercialization, and normalization of marijuana has led to less young people using it, I have a bridge to sell you.”According to NSDUH data, the percentage of youth aged 12-17 using marijuana is declining faster in states where marijuana is not “legal,” and overall use is high in legal states while declining in non-legal states. Further, the percentage of youth in this age range using the drug in “legal” states was 7.7% versus 6.2% in non-legal states. “More research will be needed on this front,” continued Sabet. “A perfect example of the need for additional research comes from this very same publication. In 2014, JAMA  published an article purporting that states that have legalized marijuana saw a reduction in opioid overdoses over states that did not. In the years since, this study has been among the key talking points of the marijuana industry and its supporters. Then just last month, a study using the same methods and published in the same journal showed the completely opposite result. When it comes to drug policy, we simply cannot put all of our eggs in one basket.”To note, the same researchers authoring this study have also previously claimed marijuana legalization reduces traffic fatalities (although the overwhelming majority of state data shows otherwise) and reduces suicide (although numerous studies show use of high potency marijuana is linked with suicide ideation).last_img read more

first_imgTell City, In. — Three children have died following a Friday morning house fire in Tell City.Tell City Police were called to 1027 15th Street at 3:25 a.m. CST on Friday. When crews arrived on scene, the home was fully involved and they were not able to gain entry into the home. A woman and two other children were able to escape the home, and they told first responders three children were trapped on the second floor.The fire was shooting from the first-floor door and windows. Fire crews were forced to extinguish the blaze before gaining entry to the home. Investigators from the State Fire Marshal’s office report three fatalities. The victims have been identified as:Danielle Plock Sims, 11Thomas Plock Sims, 6Roseanna Plock Sims, 3State Fire Marshal investigators continue to talk to the fire survivors to try to determine the cause and origin of the fire. The extent of the damage will make a final determination extremely difficult, according to Clayton Kinder, lead investigator with the State Fire Marshal. No working smoke alarms have been found at the residence at this point, and witnesses reported none were heard during the fire.The Tell City Fire Department, Tell City Police Department and the Indiana Department of Homeland Security (State Fire Marshal) continue to investigate the incident. The State Fire Marshal operates as part of the Division of Fire and Building Safety in the Indiana Department of Homeland Security.last_img read more