The Week Ahead: Eyes on the Treasury

first_imgHome / Daily Dose / The Week Ahead: Eyes on the Treasury Sign up for DS News Daily Tagged with: Department of the Treasury in Daily Dose, Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Eyes on the Treasury May 7, 2017 1,117 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Fannie Mae Income Drops in Q1 Next: Hensarling’s Communication Control Faces Criticism Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer. Subscribe Related Articles Department of the Treasury 2017-05-07 Seth Welborn The Best Markets For Residential Property Investors 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Following a week of argument within Congress regarding everything from healthcare to the Financial CHOICE Act, on Wednesday at 2 p.m. EST, the Department of the Treasury will release its monthly Federal Budget Statement. The Bureau of Fiscal Service releases a report of the monthly receipts/outlays and deficits/surplus of the United States.This budget announcement comes right on the heels of the first round of votes to move the Financial CHOICE Act forward, a bill which would act as an alternative to the Dodd-Frank Act. Mnuchin had voiced his support of Financial CHOICE in a statement following the vote.“As Secretary, I am committed to policies that will ensure sustained economic growth that is driven by Main Street and not held back by Washington,” said Mnuchin. “The existing regulatory system is limiting, not stimulating our economy. At the Treasury, we are focused on delivering regulatory relief that encourages banks to provide the capital and liquidity needed to create jobs and opportunities for growth, and that provides protection against taxpayer-funded bailouts.”Financial CHOICE aims to end taxpayer-funded bailouts of big banks, impose tougher penalties for financial fraud and insider trading, and demand greater accountability from regulators.The CHOICE act announcement came alongside the tax reform plan announcement, which called for a reduction of corporate taxes down to 15 percent, cutting the top tax bracket down to 35 percent, and doubling the standard deduction. Mnuchin called the reform the “The biggest tax cut and largest tax reform in history of this country.”According to Mnuchin, the tax reform and Financial CHOICE Act are steps to strengthen the financial system.“I applaud the steady commitment and leadership that Chairman Hensarling and his colleagues have provided on these issues, and welcome the reintroduction of the CHOICE Act,” said Mnuchin “While I continue my work to implement the President’s executive order setting the core principles for financial regulation, I look forward to working with Congress to both support and strengthen our financial system and safeguard taxpayers.”This Week’s ScheduleMBA Mortgage Applications, Wednesday, 7 a.m. ESTLegal League 100 Spring Summit, Wednesday, 7:30 a.m. CSTFive Star Diversity Symposium, Thursday, 9 a.m. CSTFreddie Mac Weekly Mortgage Survey, Thursday, 10 a.m. ESTSenate Banking Committee Hearing: Status of the Housing Finance System, Thursday, 10 a.m. ESTUniversity of Michigan Consumer Sentiment Survey Friday 10 a.m. EST The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Tory party has salvation in sight

first_imgIf you are taking even a cursory interest in British politics over the next few weeks, there are a few phrases which you should be familiar with. ‘We must claim the centre ground’; ‘Modernisation’; ‘Opportunity for the many and not the few’; ‘Radical reform’; ‘Equality’; ‘Change’; ‘Renewal’; ‘Compassion’; to name but a few. I quote directly from Tony Blair’s speech to the Labour Party Conference at the end of September, in which he attempted to illustrate his core beliefs and plans for the next few years. However, the reason for giving these phrases was not to talk about Tony Blair; it was to talk about the impending Tory leadership contest. It may interest you to know that every single one of these very phrases, or very close derivations of these, was used in David Davis’ recent speech on his vision of ‘Modern Conservatism in the 21st century’. Most of them could be found in David Cameron’s speech at his campaign launch only last week. They all can be found many times over in Ken Clarke’s statements, interviews, and speeches in recent months. These men are, at the point of writing, the three main contenders for the Conservative Party leadership.What has become plainly obvious is that they are trying to attract support by using the same language and sentiments as the dominant and centrist Tony Blair. I am not trying to suggest that past leadership candidates, of any party, have not claimed to want to move the party into the centre ground of politics – most do – but the centre ground of politics was there long before Blair. What I mean is that there has been a quite deliberate shift to using ‘Blairite’ rhetoric in an attempt by the candidates to show that they are true centrist politicians, ie not prisoners of the Tories’ strong right wing. This illustrates the level to which New Labour has changed political discourse in Britain. Blair, for all his foibles, has skilfully managed to articulate the hopes, opinions, and aspirations of the majority of people in this country. That is why a majority of the middle class who used to call themselves Conservatives has voted for him over the past 8 years. Previously, Tory leadership candidates earned their spurs by saying how much they hated New Labour and its ideas. Now, they have finally realised what it will take to win: accept that there is a new political landscape, set by New Labour, and shape their message accordingly.Tory leaders understand that they need to do what Labour did in the early 1990’s after Thatcher: a painful modernising process, ignoring the extreme section in the party, adapting the Party’s policies and beliefs to the current political climate – the temperature of which had been changed by Blair while as PM. Therefore, we are beginning to see the seeds of recovery for the party that used to be called ‘the natural party of government’.Now the difficult part: who should the party choose for leader and trust to carry through the difficult renewal of the party? David Davis is the front runner, and undoubtedly a man of the right from the IDS and William Hague camp, despite now trying to convince us that he has been a centrist all along. He definitely has advantages: in particular, his working class background of having grown up on a council estate gives him credentials that Ken Clarke and David Cameron do not have. His right wing background doesn’t mean that he isn’t sincere about trying to change the party’s message, but it does mean that his reform will be slow, cautious, and could possibly run into trouble if his main backers, the party’s right wing, decide that he is no longer ‘one of them’. David Cameron is the newcomer. At only 38 years old, and having sat in the Commons for only 4 years, he is appealing, photogenic and certainly very able. He is certainly a true moderniser, and would also be more genuinely committed and able to change the party’s appeal than Davis, and I believe he has the potential to be a great Prime Minister in the future. However, he is very short on political experience, and it must be remembered that since the party started electing their leader in 1965, they have always chosen a candidate from a lower middle class or working class background: Heath, Thatcher, Major, Hague, IDS, Howard. The party’s sensitivity to choosing a ‘toff ’ as leader may make things even more difficult for him, the urbane Old Etonian. Now that Portillo has dropped out of a political career, Ken Clarke is the last remaining ‘big beast’ of the party. An earthy and charismatic heavyweight, fond of his pints and cigars, he has long been a proponent of centrist ‘One Nation’ Conservatism, and is the only candidate who has long said that the party should learn lessons from New Labour’s success. He is the figure most popular with the public, especially with the middle class swing voters who deserted the party for Tony Blair; one might think that the party would be mad not to choose such a man. His main problem among party members, who, despite Michael Howard’s best efforts, have the final say after MPs have whittled the choice down to two candidates, remains his enthusiasm for Europe: he would be leading a wildly Eurosceptic party, and the shadow of the disastrous in-fighting of the Major years looms over this scenario.Whether the party can get over this single aspect of Kenneth Clarke’s politics and pick the one man who might actually stand a chance of beating Labour at the next election, only time will tell us.ARCHIVE: 0th week MT 2005last_img read more

Philippines approves $1.65 billion in rooftop solar projects

first_img FacebookTwitterLinkedInEmailPrint分享AsianPower:The Philippine Board of Investments has approved eight solar projects through Solar Philippines Commercial Rooftop Projects Inc. worth PhP85.96b, or US$1.65b. A conservative estimate of 8GW of solar installations by 2030 includes 35% of that coming from rooftop solar, an investment value of US$2.8b, the Institute for Energy Economics and Financial Analytics (IEEFA) indicated.According to Sarah Jane Ahmed, energy finance analyst at IEEFA, rooftop solar could lower electricity costs to PhP 2.50 per kWh (excluding financing expenses) and triggering US$2.8b or PhP1.5t in new investment by 2030.“The government is in a position to change the longstanding status quo, which disproportionally puts fuel-price and foreign-exchange risk on consumers, while utilities and power generators remain insulated from market changes. As a result, power suppliers have no incentive to transition away from coal and diesel or to hedge against price-change and currency risks,” she said.In a report, Ahmed highlighted how the Philippines continues to lag global trends toward power-sector modernization, which are gaining momentum around rapidly-declining costs and technological advances in renewable energy, energy efficiency and distributed storage. However, the PBI’s nod towards the eight solar projects worth US$1.65b marks an “enormous” opportunity to replace imported-coal and imported-diesel models with indigenous alternatives, the analyst said.“Solar, wind, run-of-river hydro, geothermal, biogas, and storage are competitive, viable domestic options that can be combined to create a cheaper, more diverse and secure energy system,” she said. This phenomenon alone could save the Philippines up to US$2.2b annually in its current account deficits as well as US$200m per year in diesel subsidies.In March, Manila Electric Company (Meralco) received the country’s lowest wind electricity generation bid ever on a new 150MW wind turbine project in the Rizal province, for PhP3.50 per kWh. Solar is competing similarly, with Meralco having contracted for a PhP 2.99-per kWh, 50MW capacity plant.In comparison, coal-fired power generation costs upwards of PhP 3.8-5.5 per kWh whilst the “true” cost of imported diesel-fired power ranges from PhP 15 to PhP 28 per kWh.Rooftop solar costs PhP2.50 per kWh (without financing expenses) to 5.3 per kWh (with financing expenses), utility-scale solar power can cost as little as PhP 2.99 per kWh, wind is PhP3.5 per kWh, geothermal is PhP3.5-4.5 per kWh, and run-of-river hydro costs PhP3-6.2 per kWh.More: Unwieldy rules bar growth of Philippines’ solar rooftop potential Philippines approves $1.65 billion in rooftop solar projectslast_img read more

Gearing up for Singapore GP with live audience despite uncertainty amid COVID-19

first_imgTopics : While the fate of this year’s Singapore Airlines Singapore Grand Prix remains up in the air, preparations are under way for it to go ahead with a live audience.At least four tenders related to the set-up of viewing facilities and ancillary activities for the Sept 20 Formula One race were put up by the Singapore Tourism Board (STB) between February and last month, according to checks by The Straits Times.These include the construction and fitting out of the Temasek and Singapore suites at the F1 Pit Building, shuttle bus services for suite guests and precinct parties to be held in Orchard Road and Clarke Quay. Other tenders relate to works to be carried out at the F1 Pit Building and storage site in Tampines.Promoter Singapore GP said last week that it is not feasible to conduct the race behind closed doors, given that it is a street circuit.The Formula One season is expected to kick off in Austria in July without spectators, after a series of cancellations and postponements.The request for proposal to organize and execute precinct parties is part of the Grand Prix Season Singapore, scheduled to happen from Sept 11 to 20.center_img Race-themed parties were first extended beyond the racetrack in the lead-up to last year’s event, which drew 268,000 spectators over three days. Fringe activities including racing simulators, a carnival and live music were held in Orchard Road, Kampong Glam, Clarke Quay and Jewel Changi Airport.Examples of the desired scale and variety of activities this year include a “mega outdoor party” in Clarke Quay and partnerships with nightclubs in the area, as well as branded race-themed activities in and around Orchard Road, according to tender documents seen by The Straits Times.STB noted, however, that tenderers should factor the Covid-19 pandemic and any related regulations in their planning and proposals.A contractor is expected to be appointed by early next month, according to the request for proposal, which closed last Thursday with seven bids.The budget for the precinct parties is listed as between $490,000 and $590,000.The tourism board said in response to queries that it is working closely with Singapore GP and other government agencies to assess the feasibility of proceeding with the race.”Being a street circuit, more lead time for planning and preparation is required, which includes procurement,” STB said.If the event is called off, any awarded tenderers will be paid for work done, it said, adding that it will explore options to deploy the works for future use.Asked about safe distancing measures at the parties and whether entertainment establishments in Clarke Quay are anticipated to reopen by September, STB said the Government will monitor and assess developments in the global and local Covid-19 situation to determine the appropriate timelines for the gradual resumption of more businesses and activities.The Republic will be undergoing a phased reopening of its economy when it exits a two-month circuit breaker on June 2.The first phase, which will last for at least four weeks, will allow more people to return to the workplace, while the second phase, which will span several months, will see shops and sports and recreation facilities reopen.Social, cultural, religious and business gatherings are expected to resume by the third phase, with limits on gathering sizes.last_img read more

AMI Graphics continues supplier status with IMCA

first_imgSTRAFFORD, N.H. – The signage experts at AMI Graphics mark a decade of support of IMCA and its sanctioned race facilities in 2018.The full-service sports facility and event signage company is The Official Signage Supplier of IMCA and again provides wholesale direct pricing on items ranging from vinyl and mesh banners to decals, adhesive prints and vehicle wraps.Located in Strafford, N.H., AMI is in the first-year of a new three-year pact with IMCA that runs through 2020.Information about AMI signage is available at the website and by calling 603 664-7174.last_img

NBA All-Star Game 2019: Rosters, draft results for Team LeBron, Team Giannis

first_imgMORE: Watch the NBA All-Star Game live on fuboTV (7-day free trial) The funniest moment of the night came when James drafted Anthony Davis in his first reserve slot and said, “Tampering rules do not apply on All-Star weekend.” (The Pelicans probably don’t appreciate that joke.)”Isn’t that tampering?” 😂LeBron drafts AD! #NBAAllStarDraft— NBA on TNT (@NBAonTNT) February 8, 2019Sporting News compiled the full rosters below. Let’s see how the teams stack up…2019 NBA All-Star Draft results, rosters*Team LeBron traded Russell Westbrook to Team Giannis in exchange for Ben Simmons after the draft.🚨 TRADE ALERT 🚨Russell Westbrook will play for #TeamGiannisBen Simmons will play for #TeamLeBron— NBA TV (@NBATV) February 8, 2019Team LeBronPickPlayerTeam1.Kevin DurantWarriors2.Kyrie IrvingCeltics3.Kawhi LeonardRaptors4.James HardenRockets5.Anthony DavisPelicans6.Klay ThompsonWarriors7.Damian LillardTrail Blazers8.Russell Westbrook*Thunder9.LaMarcus AldridgeSpurs10.Karl-Anthony TownsTimberwolves11.Bradley BealWizards12.Dwyane WadeHeatTeam Giannis PickPlayerTeam1.Stephen CurryWarriors2.Joel Embiid76ers3.Paul GeorgeThunder4.Kemba WalkerHornets5.Khris MiddletonBucks6.Nikola JokicNuggets7.Ben Simmons*76ers8.Blake GriffinPistons9.D’Angelo RussellNets10.Nikola VucevicMagic11.Kyle LowryRaptors12.Dirk NowitzkiMavericks2019 NBA All-Star Draft complete orderPickPlayerTeam1.Kevin DurantWarriors2.Stephen CurryWarriors3.Kyrie IrvingCeltics4.Joel Embiid76ers5.Kawhi LeonardRaptors6.Paul GeorgeThunder7.James HardenRockets8.Kemba WalkerHornets9.Khris MiddletonBucks10.Anthony DavisPelicans11.Nikola JokicNuggets12.Klay ThompsonWarriors13.Ben Simmons*76ers14.Damian LillardTrail Blazers15.Blake GriffinPistons16.Russell Westbrook*Thunder17.D’Angelo RussellNets18.LaMarcus AldridgeSpurs19.Nikola VucevicMagic20.Karl-Anthony TownsTimberwolves21.Kyle LowryRaptors22.Bradley BealWizards23.Dwyane WadeHeat24.Dirk NowitzkiMavericks With the NBA trade deadline now out of the equation, the focus shifts to All-Star weekend.All-Star captains LeBron James and Giannis Antetokounmpo picked their teams Thursday as part of TNT’s “NBA All-Star Draft Show.” Antetokoumpo delivered on his promise to take Stephen Curry with his first draft pick after James selected Kevin Durant at No. 1 overall selection.last_img read more