IMF chief warns global economic crisis ‘far from over’

first_imgThe global economy is showing signs of bouncing back from the severe downturn caused by the global coronavirus pandemic, but a full recovery is “unlikely” without a vaccine, IMF chief Kristalina Georgieva said Wednesday.In a column co-authored with IMF chief economist Gita Gopinath, the officials stressed that governments should continue to support workers and businesses since the unprecedented nature of the crisis could give rise to a wave of bankruptcies and job destruction.As lockdowns have eased and businesses around the world have been allowed to reopen, there has been a “sharp rebound of output, consumption and employment,” they said in Foreign Policy magazine. In a speech Wednesday to the World Economic Forum, Georgieva said rapid government action “put a floor under the world economy,” which helped everyone without “differentiating between… winners and losers.”Going forward, policymakers will need to invest wisely in areas that have the broadest benefit, including green jobs – such as training workers to make buildings more energy efficient – and “accelerating digital transformation” in a way that will reduce inequalities, she said.”In other words, support programs that take the countries towards growth that is green, smart and inclusive,” the IMF chief said.But the fund officials in their essay cautioned that, “Though the world has learned to live with the virus, a full recovery is unlikely without a permanent medical solution.”With 128 coronavirus vaccines currently under development, there is a strong chance a solution will be found, but “we must urgently devise multilateral solutions” to ensure adequate supply and distribution, Georgieva and Gopinath wrote.Topics : The massive scale and speed of government support has helped cushion the blow and allowed for the initial rebound, Gopinath and Georgieva wrote.”This crisis, however, is far from over,” they said. “The recovery remains very fragile and uneven across regions and sectors. To ensure that the recovery continues, it is essential that support not be prematurely withdrawn.”Businesses, even insolvent firms, will need continued help to prevent destruction of millions of jobs. That could include governments taking equity in firms or providing grants in exchange for higher tax rates later, they said.But governments will have to be cautious in how they distribute their scarce resources, and some companies will inevitably fail, especially in industries like travel that may not survive or will be curtailed in a post-pandemic world.last_img read more

Governor Wolf’s Middle Class Task Force Hears From North Central Pennsylvania

first_imgGovernor Wolf’s Middle Class Task Force Hears From North Central Pennsylvania October 13, 2017 Economy,  Government That Works,  Press Release Harrisburg, PA – Governor Tom Wolf’s Middle Class Task Force stopped in Kersey, Elk County today for the second of six regional meetings across the commonwealth. The panel of business, labor, education and workforce development experts is listening to residents about how to improve the lives of middle class families and make policy recommendations to the governor.“Pennsylvania is a diverse state with large cities and rural communities, and it is important that we listen to employers, workers, educators, and students in each region about supporting and growing the middle class,” said Governor Wolf. “Already we have made historic investments in education and expanded workforce training and economic development to make Pennsylvania an attractive place to live and do business, but we must do more.“This diverse panel will listen to Pennsylvanians about the challenges facing middle class families and I look forward to hearing their recommendations to create a workforce and economy that will thrive for years to come.”The task force is led by four chairpersons appointed by the governor: Pennsylvania Chamber of Business and Industry President and CEO Gene Barr, Pennsylvania AFL-CIO President Rick Bloomingdale, Pennsylvania State System of Higher Education Assistant Vice Chancellor Dr. Sue Mukherjee, and Pennsylvania Workforce Development Association Chairperson Susie Snelick.Local leaders from these diverse constituencies participate in each task force meeting to engage in a conversation and provide the perspective of that region.Pennsylvania’s middle class and economy are changing for workers and businesses. Near full employment has created a tight labor market in some communities while other employers cannot find skilled workers for available jobs.Representing the Wolf administration on the task force are Department of Education Secretary Pedro Rivera, Department of Community and Economic Development Secretary Dennis Davin, Acting Department of Labor and Industry Secretary Jerry Oleksiak.The task force will present recommendations to the governor later this year.center_img SHARE Email Facebook Twitterlast_img read more

Buju Banton sentenced to 10 years in prison

first_img Sharing is caring! 24 Views   no discussions EntertainmentNewsRegional Buju Banton sentenced to 10 years in prison by: – June 23, 2011 Share Sharecenter_img Tweet Share Family members and fans pleaded with the judge for leniencyGrammy-award-winning star Buju Banton has been sentenced to 10 years in jail in the US for his role in setting up a cocaine deal in 2009.The singer, whose real name is Mark Myrie, was told at Tampa federal court that he must serve five years’ probation following prison.Previously the Dancehall artist had insisted in court that he had been merely boasting about the deal.Prosecutors conceded he had never put money into a deal or profitted from it.His record Before the Dawn won best reggae album at the Grammy Awards ceremony earlier this year.In February the star was convicted of conspiracy to possess cocaine with the intent to distribute it, along with a further drug trafficking offence and a gun charge.He was acquitted of a fourth charge for attempted cocaine possessionIt was Banton’s second trial – his first ended in September when the jury was unable to reach a verdict.Much of the case hinged on video and audio recordings taken by an informant and by Drug Enforcement Administration personnel.The informant was paid $50,000 (£31,000) after Banton’s arrest in December 2009, along with two others.One video shown to the jury showed Banton apparently tasting cocaine in a Florida warehouse.A co-defendant later gave the informant $135,000 (£83,705). He and another man pleaded guilty to drug charges in the case.BBC Newslast_img read more

Adam Cole – Football INDEX – The growing appeal of football trading

first_img Spotlight ups matchday commentary reach and capacity for new EPL Season  August 21, 2020 Premier League looks to broadcast every behind-closed-door fixture August 28, 2020 Related Articles Share QPR names Football Index as new shirt sponsor August 21, 2020 Share Submit StumbleUpon Football INDEX is the world’s first football stock market, enabling users to buy and sell real money shares in the world’s top footballers.Detailing how the site accumulated 100,000 users across the UK, with a number of single trading days in excess of £1 million, as well as analysing future plans for expansion, Adam Cole, Founder and CEO of Football INDEX spoke to SBC. SBC: Hi Adam, could you reveal more about the appeal of Football INDEX?Adam Cole: The Football INDEX proposition is simple and appealing – build value in your portfolio (capital appreciation), earn dividends (ROI) based on your football knowledge, and ultimately sell at a profit. We are regulated by the UK Gambling Commission and profits are exempt from Capital Gains.With Football INDEX, football ‘traders’ can earn dividends based on their football knowledge and the on-pitch performance and media profile of players in their portfolio. They can build a portfolio of players of their choice and aren’t restricted by selecting from a single team.Powered by Opta data, we have invested over £2.5 million in developing an innovative, proprietary platform and user-friendly app, allowing fans to earn dividends on their football portfolio 365 days a year, with multiple profit opportunities. Since launching in October 2015, the concept has rapidly gained traction.  SBC: What is the key target market Football INDEX aims to reach? AC: Football Index fills a vacant space between two massive markets – football sports betting and Fantasy Football – but has advantages over both. Fantasy Football, for example, requires an unflagging weekly commitment and there’s very little financial gain or reward (other than bragging rights).Football betting is the largest sportsbook activity in the UK. However, betting can be brutal and expensive – it is focused heavily on quick ‘event’ outcomes.With Football INDEX, we offer extended entertainment value and intellectual stimulation combined with the thrill of a bet. Our value proposition is unrivalled by any other product on the market. Our users – or ‘football traders’ – are typically smart football fans who find the concept of Football Index more intellectually satisfying and generally more rewarding than regular betting. Football fans in particular those who understand fantasy football and those with a an understanding of markets are a key demographic. Our users are spread across all age groups but are predominantly between the ages of 20 and 45. SBC: Can you outline some of the key factors that dictate whether a player’s value decreases or increases? AC: ‘Performance Dividends’ pay out to traders based on footballers’ on-pitch performance. Traders can buy players they consider ‘on form’ as we use Opta data measures – 40 points for scoring a goal to 1 point for a successful pass and minus 5 points for a yellow card.  As well as trading footballers for profit, customers have the chance of multiple ‘wins’ from a single bet. Football INDEX’s daily Buzz Chart is a UK media monitor which determines the trending footballer in the news each day. Any traders holding futures in the trending footballer receives a dividend payout per future held.  Payouts are made to the Top Defender (including Goalkeepers), Top Midfielder, Top Forward and Star Footballer, who is the day’s top performing player.  ‘Football traders’ only make a loss if they choose to sell at a loss.SBC: With coverage of football continually increasing, how important is it that you provide traders with an expansive database to trade from? Traders can currently buy shares in over 1,000 players from the English Premier League, Spanish La Liga, French Ligue 1, Italian Serie A, German Bundesliga, UEFA Champions League and UEFA Europa League. We are currently in the process of expanding our product offering to 2,000 tradeable footballers. SBC: As sportsbooks grow by adding new markets and utilising more data, in what ways can football trading evolve to keep players engaged? AC: Longer term we have ambition to provide our service globally (where possible) and indeed our platform may be applied to any sport such as American Football, basketball, baseball, ice hockey, cricket, rugby etc. We continue to invest in our technology and have a roadmap packed with new functionality, much of which is focused on delivering our users more data.SBC: How can football trading satisfy the instant gratification that is wanted by punters? AC: We offer both instant gratification and long term gains. Instead of the ‘bet’ being on a single outcome (e.g. Manchester United vs Watford), with Football INDEX, traders have the possibility of a micro win every day of the year for three years with our daily Buzz Chart which determines the trending footballer in the news each day. We refer to these micro wins as ‘dividends’ and they provide a yield for ‘instrument’.last_img read more