Metro, Starling and ClearBank win £280m from RBS competition fund

first_img whatsapp whatsapp Metro Bank received the largest share of the pot despite a recent accounting error in the way it classified loans.The rest of the £425m capability and innovation fund will be awarded later this year, while a separate £350m incentivised switching scheme was shared among 11 banks at the end of last year and will be reopened for a second round in June.The BCR said it received applications from six applicant – TSB, Co-operative Bank and CYBG are understood to have missed out, while Santander decided against an application after lengthy consideration.Read more: Challenger bank Starling has launched business accountsThe fund was a condition of the Government’s £45bn bailout of RBS during the financial crisis. In the first round of funding, Metro Bank were awarded £120m, Starling Bank £100m and ClearBank £60m, the Banking Competition Remedies (BCR) said today.Starling said it would use the money to create 400 new jobs in the UK and build its services for SMEs.The challenger bank said it would also invest £94.8m of its own money and expected to achieve a 6.7 per cent market share within five years.Chief executive Anne Boden said: “It will accelerate our ability to reshape the SME banking market.“Starling will deliver an advanced fully-digital offering that connects SMEs with the financial solutions they need to thrive. This is the opportunity to bring new technology and a new approach to the sector.” Metro, Starling and ClearBank win £280m from RBS competition fund Three challenger banks have been awarded a combined £280m from an RBS fund designed to boost business banking competition.Metro Bank, Starling Bank and ClearBank have all given funds to boost their business account offerings and increase competition in the sector. Friday 22 February 2019 7:34 am Share ClearBank, through its partnership with business banking provider Tide, said it would “revolutionise” the SME market.Chief executive Charles McManus said: “Our partnership with Tide will provide the SME banking market with an innovative and compelling customer proposition, using our highly agile technology.”Tide chief executive Oliver Prill said: “We can start work today. Tide is already the fastest growing business banking service provider in the UK.Read more: Banking bigwigs to decide bank winners of £425m RBS competition fund”The funding will help Tide accelerate its strategy to capture a significant share of the market, and we plan to match this with further investment of our own.” Callum Keown BCR chairman Godfrey Cromwell said: “These awards seek to increase competition in the business banking market and to improve the financial products and services available to SMEs.” Tags: Trading Archivelast_img read more

London cycleway to link Tower Bridge and Greenwich

first_imgMajor upgrades to the cycleway include: Read more: Westminster council victorious after court rejects TfL appeal over CS11 cycle superhighway Alexandra Rogers whatsapp “By announcing your opposition to the proposals at the public meeting, whilst the consultation period was still open, and before you had even heard from members of the audience, you have made a total mockery of the consultation.” There will also be new pedestrian crossings and the Rotherhithe roundabout will be redesigned to reduce accidents. The construction of cycleway 4 comes after Kensington and Chelsea councillors vowed to block a new £42m cycle lane through Notting Hill and Holland Park following protests by celebrities including former Top Gear star Jeremy Clarkson. Construction on Cycleway 4, which will run between the iconic Tower Bridge and Greenwich, will start next month. The new cycleway will include a new 4km cycle track which will run two ways and be segregated. A 4km two-way segregated cycle track on Tooley Street, Jamaica Road, Evelyn Street and Creek Road, which will keep people cycling separated from motor trafficFive new signal-controlled pedestrian crossings and upgrades to more than 20 existing pedestrian crossingsAn overhauled Rotherhithe roundabout, which will transform one of London’s most dangerous junctions A new eastbound bus gate on the Jamaica Road approach to Rotherhithe roundabout, giving buses priority and easier access into Lower RoadNew and improved street layout at Deptford High Street and Rotherhithe roundabout, including new paving and trees London mayor Sadiq Khan said: “High-quality segregated cycle routes greatly increase the numbers of people who feel confident cycling on our streets, and with new pedestrian crossings along the route road danger will be substantially reduced for thousands of pedestrians too Wednesday 19 June 2019 12:26 pm The cycleway has been funded from TfL’s healthy streets budget, which is geared towards walking and cycling projects in the capital.center_img New London cycleway to link Tower Bridge and Greenwich Read more: Sadiq Khan slams Westminster council for pulling out of £80m Oxford Street pedestrianisation plans TfL says cycleway 4 will boost cycling safety in London Share In a letter to the council today, Khan said he wanted to express his “profound unhappiness at the actions of you and your councillors”. One of London’s most dangerous roundabouts is to be transformed as part of a new £54m cycleway in south-east London. Last year the mayor clashed with Westminster council over the pedestrianisation of Oxford Street, which has now been scrapped, and over cycle superhighway 1 in north-west London, which the council also successfully blocked. whatsapp Construction on the cycleway 4 will start at the beginning of next month “Boroughs like Southwark, Lewisham and Greenwich really understand the huge benefits of investing in high-quality walking and cycling infrastructure. With record investment from TfL we will continue to work with boroughs who share our vision to tackle London’s inactivity crisis, reduce road danger, and get more people out of their cars and into cleaner greener forms of transport.” last_img read more

‘Next stop, Picardilly…’: TfL rebrands Tube station for Star Trek launch

first_imgRead more: Experts unsure about the effect of air pollution on the Tube Picardilly Circus: TfL renames Tube station to celebrate Star Trek launch “We hope that the out-of-this-world activity has brought a bit of unexpected fun to our customers and that they boldly go on their commute, young or old.” For 48 hours Piccadilly Circus will be renamed PICARDilly Circus to celebrate the launch of Amazon’s original series Star Trek: Picard. The new series, which features Patrick Stewart returning to his iconic role as Jean-Luc Picard, will launch on Amazon Prime on 24 January. James Warrington Wednesday 15 January 2020 11:39 am Commuters will also hear special public service announcements advising them to “take care when using stairs, escalators or transporters” while travelling through the station. The takeover will run at Piccadilly Tube station today and tomorrow. whatsapp The two-day marketing campaign, created with TfL’s advertising partner Global, forms part of the transport body’s efforts to generate more revenue by offering brands station takeovers. Show Comments ▼ The move will see Star Trek branding and signage plastered on roundels in the ticket hall and platforms throughout the Grade II listed station Buxton Water secured the first sponsorship deal in 2015, when it took over Canada Water station to coincide with the London Marathon.  Last year Westminster station was transformed into a jungle as part of a campaign for the Times newspaper.  Julie Dixon, head of customer information, design and partnerships at TfL, said: “We’re thrilled to partner with Amazon Prime Video to create this exciting takeover of one of London’s most well-known Underground stations to celebrate the launch of Star Trek: Picard.  Image credits: TfL However, Trekkies can now enjoy a taste of the extraterrestrial thanks to a publicity stunt launched by Transport for London (TfL). Read more: TfL to give Tube Apple Pay upgrade Tags: Transport for London whatsapp Share When Star Trek fans talk about exploring strange new worlds, they probably don’t have Piccadilly Circus Tube station in mind.last_img read more

Premium / On the wires: The 300cubits blockchain demise – who is next?

first_img Premium subscriber LOGIN Reset Your Password Subscription required for Premium stories In order to view the entire article please login with a valid subscription below or register an account and subscribe to Premium << Go back New Premium subscriber REGISTER By Alessandro Pasetti 30/09/2019 Please Login Forgotten your password? Please click here Reset Email* Password* Please either REGISTER or login below to continue Email* LOGIN “The 300cubits has decided to suspend the operation of the Booking Deposit Module (“System”) effective on 1 October 2019. The System has started accepting trial shipments in March 2018 and was launched into live production in July 2018 with varying responses. The positives are that the System has had participation from the largest shipping liners e.g. Sealand of Maersk Group, CMA CGM, MSC and Cosco while the 300cubits have gone the length in its discussions with the rest of the ...last_img read more

Rare superbug outbreak in Wisconsin is blamed for 18 deaths

first_imgHealthRare superbug outbreak in Wisconsin is blamed for 18 deaths Megan Thielking Nathan Reading/Flickr By Megan Thielking March 3, 2016 Reprints A rare bacterial outbreak in Wisconsin, which is suspected in the deaths of 18 people, is now attracting the attention of the Centers for Disease Control and Prevention.The bacteria, Elizabethkingia anophelis, is resistant to some common antibiotics, and can cause fever, difficulty breathing, chills, and skin infection. The Milwaukee Journal-Sentinel reports that the bacterium has been identified in 44 cases of infection. Of those, 18 people have died since Dec. 29, though it has not been determined whether the infection directly led to their deaths.Most of the cases have cropped up in people over the age of 65, who can be particularly vulnerable to bacterial infections. It’s not yet clear how those people became infected with the bacteria.advertisement The bacterium has caused small hospital outbreaks in the past, leading experts to warn of its potential for hospital-acquired infections. It is named after American bacteriologist Elizabeth O. King, who discovered it in 1959. News Editor About the Author Reprints [email protected] Disease detectives from the CDC are on the ground to figure out what might be behind the bacteria’s spread, but so far answers are lacking.“CDC is assisting Wisconsin with testing samples from a variety of potential sources, including healthcare products, water sources and the environment, but to date, none of these have been found to be a source of the bacteria,” the agency said in a statement. “CDC currently has five disease detectives in Wisconsin assisting with the investigation, and anticipates sending additional staff in coming days. Several dozen epidemiologists and laboratory staff are also assisting from CDC headquarters in Atlanta.”advertisement @meggophonelast_img read more

Florida in ‘full COVID-19 resurgence’ White House Coronavirus Task Force reports

first_imgFlorida moves against foreign theft of intellectual property June 8, 2021 Advertisement Florida has earned the 11th spot for the highest rate of COVID-19 in the country, according to the newly released White House Coronavirus Task Force Report. According to the report, Florida has seen a sharp increase in new cases and hospitalizations. The state is said to be in full COVID-19 resurgence meaning more deaths and increased capacity at hospitals are likely in the coming weeks. Florida reported 13,720 new coronavirus cases Thursday bringing the state’s total up to 1,531,192 according to data from the Florida Department of Health. The state also reported 222 new deaths bringing the coronavirus death toll up to 23,981 since the start of the pandemic.Click here for a breakdown of coronavirus cases and deaths in SWFL counties as of Thursday Jan 14. AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments RELATEDTOPICS Advertisement AdvertisementTags: Coronavirus Task ForceFloridaWhite House The report urges aggressive mitigation as data boils higher and higher. It suggests applying strict face mask rules, social distancing measures, and increased testing and warns the more contagious COVID-19 variant could worsen the situation. Officials said schools should also require weekly testing to help slow the spread of the coronavirus. Over 1,000 unemployment claim call takers let go as DEO cancels contract June 12, 2021 Florida nursing homes report COVID-19 infection rates nearly double the national average June 16, 2021 AdvertisementOver the last three weeks, Miami-Dade County, Broward County, and Orange County have accounted for the highest number of new cases. Lee County ranks 9th among the top counties with high case counts, the report states. In metro areas, North Port is listed as the 6th worst in the state with Cape Coral right behind in 7th place. 64 counties in Florida are listed in the red zone for the virus with only 3 in orange including Volusia, Brevard and Alachua. All other counties are red. Two suffer shark bites off Florida beach June 16, 2021last_img read more

Down Syndrome Centre Midlands gets new playhouse

first_img Previous articleLaois brown bread makers called to enter national competitionNext articleBREAKING: Popular Laois horse passes away Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. By Alan Hartnett – 19th April 2018 Facebook Home News Down Syndrome Centre Midlands gets new playhouse News Twitter Twitter Five Laois monuments to receive almost €200,000 in government funding WhatsApp Ten Laois based players named on Leinster rugby U-18 girls squad Members of Midlands Down Syndrome with their new playhouse. Also pictured are representatives from the LOETB and Carraig The Down Syndrome Centre Midlands got a wonderful new resource for their centre in Portlaoise yesterday.A beautiful new playhouse was donated to them thanks to the combined resources of Laois Partnership, Laois Offaly ETB and Carraig Playhouses.The playhouse was created and built by participants on the Employment Skills course run by Laois Partnership.There was also input on design and raw materials from Carraig Playhouses.Down Syndrome Centre Midlands would like to sincerely thank a number of people for making this happen.These include: Anne Goodwin (CEO Laois Partnership), Lorna Middleton (Coordinator of the Employment Skills Course Laois Partnership), Eileen Dunne (Laois Offaly ETB) and Michael from Carraig Playhouses.Also, a special thanks to all the participants on the Employment Skills course for their hard work in building the playhouse.Speaking at the Centre yesterday, Chairperson AnneMarie Fitzpatrick said “This playhouse will be a welcome addition to our Centre.“It will provide many happy hours of playtime for all our families of the Down Syndrome Centre Midlands.“We might even have to run our therapy groups in it as our service users won’t want to leave it.“We are absolutely thrilled with it.” SEE ALSO – Concerns raised over sexual and serious assault of prison officers in Portlaoise Down Syndrome Centre Midlands gets new playhousecenter_img Pinterest Facebook RELATED ARTICLESMORE FROM AUTHOR Rugby WhatsApp TAGSMidlands Down Syndrome Council Pinterest Community Laois County Council create ‘bigger and better’ disability parking spaces to replace ones occupied for outdoor dining last_img read more

Moranbong Band reappears

first_imgKorean Central Television (KCTV) reported on December 29 that Kim Jong Un watched a joint performance of the Moranbong Band and the State Merited Chorus with participants of the first Conference of the Chairpersons of Workers’ Party Primary Committees. The event marks seven months since the Moranbong Band publicly performed at the7th Congress of the Workers’ Party.Image: Yonhap News Agency Moranbong Band reappears News Korean Central Television (KCTV) reported on December 29 that Kim Jong Un watched a joint performance of the Moranbong Band and State Merited Chorus with the participants of the first Conference of the Chairpersons of Workers’ Party Primary Committees. KCTV reported that the Moranbong Band and State Merited Chorus held a joint performance on December 28 for the celebration.KCTV referred to the performers of the Moranbong Band and State Merited Chorus as “the first trumpeters promoting Party ideology” and stated that their performance unveiled a new dimension of music by blending various musical genres including North Korean light music, orchestral music, various vocal styles, and choir music, receiving great admiration from the audience.According to KCTV, Kim Jong Un congratulated the performers and urged them to fulfill their mission and duty to “strengthen the Party and promote its policies at the forefront.”Kim Jong Un last viewed a performance by the Moranbong Band on October 19 last year when a joint performance was held with the Chongbong Band and the State Merited Chorus in commemoration of the 70th anniversary of the Workers’ Party. The Moranbong band, a female North Korean pop group created in 2012, has not appeared in public for more than seven months since it held a joint performance with the Chongbong Band for the celebration of the 7th Congress of the Workers’ Party in May.A high-ranking North Korean defector who spoke with Daily NK on condition of anonymity stated, “The Moranbong Band was created under Kim Jong Un’s direct orders, so it is natural for the band to attend such an important political event. It seems that the regime hopes to strengthen internal support through ‘band politics’ using the Moranbong Band.” SHARE By Daily NK – 2017.01.03 3:58pm North Korea tries to accelerate building of walls and fences along border with China Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak News News RELATED ARTICLESMORE FROM AUTHOR There are signs that North Korea is running into serious difficulties with its corn harvest News AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] Facebook Twitterlast_img read more

BCSC settles with mortgage firm over illegal distributions

Former Alberta planner fined, banned for illegal distribution scheme Facebook LinkedIn Twitter The British Columbia Securities Commission (BCSC) has settled with a mortgage investment corporation over allegations that it engaged in illegal distributions and failed to file with the regulator. The BCSC announced a settlement agreement with the Symmetry 2 Mortgage Investment Corp., which admitted that it failed to meet its regulatory filing obligations and, as a result, illegally distributed approximately $13.9 million worth of securities to 126 investors between 2003 and 2011. Related news BCSC sanctions founders, companies in failed insurance venture James Langton Compensation funds available for Phoenix group victims The commission reports that Symmetry was unaware of its obligation to file exempt distribution reports, and that, once it was alerted by the commission, it filed the required reports and paid all outstanding filing fees. Most of the exemptions it claimed were valid, except for seven investors (accounting for $550,460), it says. Additionally, Symmetry sent letters to all affected investors that explained the error, and offered full rescission of their funds. All investors chose to keep their investments with Symmetry, the commission reports. The BCSC also says that Symmetry co-operated fully with commission staff, and has no history of regulatory misconduct. Moreover, it says that there’s no evidence that Symmetry’s misconduct had a negative impact on its clients, and the BCSC says it has not received any complaints from investors. Still, for its paperwork transgressions, Symmetry has agreed to pay $10,000 to the commission, and to comply with the securities rules and laws. Share this article and your comments with peers on social media Keywords Illegal distributionsCompanies British Columbia Securities Commission read more

Legacy: Five reasons why Flaherty was a great finance minister

first_img Facebook LinkedIn Twitter History will judge Jim Flaherty highly. Economists in the private sector and in academia agree that the impish lawyer from Main Street — working-class Whitby, not tony Rosedale — should be judged as one of the most important and best finance ministers in the country’s history. Keywords Obituaries Being Canada’s third-longest serving finance minister made him notable; navigating one of the most serious financial crises of the past six decades — and reaching calmer waters ahead of his peers — puts him in elite company. But no one who held the role for eight years, most of them in a minority government, could avoid the odd slip-up — and Flaherty was no exception. Based on interviews with private-sector economists and academics, here are the Top 5 reasons Flaherty should be considered among Canada’s best three finance ministers of the post-Second World War era, as well as his five most glaring missteps. 1. Handling of the 2008-09 crisis Canada’s recession was shallower than in other G7 nations, and the recovery came faster and stronger, thanks in part to Canada’s stronger fundamentals — robust banks and a government in surplus. Natural resources helped to cushion the blow; others in the G7 were commodity importers. Following a snap budget in January 2009, Canada was able to get its stimulus money out quicker than most countries, say analysts. And Flaherty was true to his word that the stimulus would be temporary, targeted and timely. Despite outstretched hands, the spending was phased out after two years. 2. The mortgage buy-back scheme In October 2008, Flaherty announced the Canada Mortgage and Housing Corporation would buy up to $25 billion in insured mortgages from banks, giving them a badly needed cash infusion. Flaherty also made sure it was not a gift — the banks would need to pay a fee to get the mortgage assets off their books — and Ottawa eventually realized a tidy profit. “It sent a signal to the capital markets, the hedge fund operators, the speculators: ‘We are backing the Big Six, don’t sell our banks short, we are going to back them up come hell or high water,”‘ said Ian Lee, a professor at the Sprott School of Business at Carleton University in Ottawa. 3. New tax on income trusts In October 2006, the rookie finance minister shocked markets — and broke a Conservative campaign commitment — when he clamping down on income trusts, at the time a popular corporate tax-avoidance tool. The move remains controversial, but most economists say Flaherty was right to do it. “It wasn’t just the hit on government revenues; far more important was the impact it was having on management decisions, because income trusts had to distribute all their taxable income to investors and they stymied themselves on cash flow,” said Jack Mintz, one of Canada’s leading economists who served on the government’s Economic Advisory Panel during the crisis. With no cash reserves, many would have been bankrupted by the 2008-09 recession, he said. 4. Decreasing the size of government Economists credit Flaherty with sticking to his guns and “taking the punch bowl” away once the gloom of the crisis lifted in 2011, and moving toward a balanced budget. Not only has Ottawa held the line on spending and cut the size of the public service, but it has also begun tackling the demographic crunch, effectively setting back to the retirement age to 67 years. 5. Tax reform From corporate tax cuts begun under the Liberals to sales tax harmonization with provinces, from the introduction of tax free savings accounts to the Working Income Tax refundable credit for low-wage employees and the federal disability tax credit, Flaherty has been active on the tax front. With a few notable exceptions, economists give most of his measures high marks — although corporate tax cuts and shrinking government remain controversial; union economist Erin Weir would count them among his worst moves. Next: Flaherty’s miscues @[email protected] Experts say Flaherty’s Finance resume contains a few head-scratchers as well. 1. Cutting the GST RBC chief economist Craig Wright calls it a simple case of politics overriding policy. To economists, all taxes are bad, but value-added taxes like the GST are among the least damaging. Income taxes at the personal and corporate level discourage effort and risk-taking, which are vital to a healthy economy; sales taxes do not. 2. Boutique tax credits What’s with all the tax credits for children’s fitness, arts courses, tradespersons’ tools, even volunteer firefighters, to mention but a few? They complicate tax filing, while sticking the government’s nose in the choices people make. It almost smacks of “social engineering,” said Doug Porter, chief economist with BMO Capital Markets. 3. The 2008 economic update Possibly Flaherty’s most embarrassing misstep. He predicted slow growth in 2009 but not a recession, and had no measures to combat the coming catastrophe. To top it off, he inserted a campaign donation change that nearly brought down the government. It was bad policy that introduced political instability at a time of economic uncertainty, said Porter. He reversed course in January. 4. Relaxing mortgage rules Before Flaherty began tightening mortgage requirements in 2010, he was busy following the U.S. lead in relaxing them to the point where homebuyers could obtain mortgages at zero money down with a 40-year amortization period. It needlessly inflamed an already hot market. 5. That phone call to the Bank of Montreal The infamous call prompted the bank to announce last spring it would not extend its 2.99 per cent five-year mortgage rate offer, but many wondered why Flaherty thought he was better suited to decide interest rates than the banks. And it smacked of a veiled threat to financial institutions. Even NDP Leader Tom Mulcair felt uncomfortable defending the free market, against a Conservative finance minister who was interfering with it.center_img Share this article and your comments with peers on social media Julian Beltrame last_img read more