Trump’s name to be on stimulus checks going to Americans

first_imgThe US Treasury Department has ordered President Donald Trump’s name to be printed on checks the Internal Revenue Service is planning to send to tens of millions of Americans, a decision that will slow their delivery by several days, the Washington Post reported on Tuesday.Citing unnamed administration officials, the Post said the $1,200 checks to be sent as part of a $2.3 trillion package enacted last month to cushion the economic blow from the novel coronavirus outbreak will “bear Trump’s name in the memo line, below a line that reads, ‘Economic Impact Payment.'”The White House and the Treasury Department did not immediately respond to Reuters requests for comment. The Post said the decision to include Trump’s name was announced to the IRS information technology team on Tuesday.”The team, working from home, is now racing to implement a programming change that two senior officials said will likely lead to a delay in issuing the first batch of paper checks,” it said.The Republican Trump is seeking re-election in November.Topics :last_img read more

Townsville stadium prompts boutique apartments, office space

first_imgDeputy Mayor Les Walker, developer Paul Spina and Colliers agent Paul Bow at unit site on Palmer Street, Sth Townsville.The development, opposite the Maritime Museum, will comprise a seven-level building with nine high-end apartments and three ground floor office and cafe outlets. Two more stages of similar size will follow in what is being pitched as “lifestyle central”.Deputy Mayor Les Walker said Vantage on Palmer was the first in what was hoped to be one of many projects brought on by the stadium.“Vantage on Palmer will help to further activate Palmer St, the zone around the Priority Development Area and foster more connectivity with the southern end of Palmer St,” Cr Walker said.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“We envisaged that the stadium would attract significant investment in residential and commercial activities much like The Strand was able to do when it was developed. It is great to see that PDS Qld is moving forward to be the first with plans to develop on what has been dead space for too many years and to provide additional activation in Palmer St.”Mr Spina said he was encouraged by the investment being made into public infrastructure as well as the area’s potential to be a lifestyle hub.“There’s a lot of confidence returning to the market because of the spending by governments into the stadium and the public improvements being made around Palmer St and along Ross Creek,” he said.“This is also a great site with wonderful views in a fantastic street in a great town.”Colliers International residential agent Paul Bow expected good demand for apartments at Vantage on Palmer when they were launched to the market soon.“The location of Vantage on Palmer is perfect for people who want easy access to all the amenity around the CBD, Strand and of course, the associated infrastructure the new stadium will bring,” he said. “The apartments are designed to provide incredible views across the marina and city.”Colliers International commercial agent Neville Smith said the office spaces, from 80sq m to 200sq m, would be marketed to professionals who might also acquire an apartment as a dwelling.“You just cannot buy anything like this in the sub-$500,000 price range brand new,” Mr Smith said.PDS Qld hopes to begin development on the first stage in September for an August 2018 completion and for the following two stages to be complete before the opening of the new stadium in 2020.The project will be launched to the market early next month. An artist’s impression of stage one of Vantage on Palmer, a $10 million residential and commercial development by local developer PDS QLD.THE first project triggered by the $250 million Townsville stadium has been approved by Townsville City Council.Paul Spina of Townsville-based PDS Qld will develop stage one of Vantage on Palmer, a $10 million residential and commercial development, on vacant land in Palmer St.last_img read more

Finance

first_imgEurope: Eurotunnel announced on February 24 that the syndicate of 225 banks had approved a nine-month extension of the suspension of interest payments until December 14 this year.Lithuania: The European Investment Bank is to lend Ecu22m to fund upgrading of the Sumskas – Klaipeda and Kaisiadorys – Kybartai lines.New Zealand: GATX Capital Corp has structured and provided equity for a US$93m leveraged lease of 30 GM EMD locos and 579 high-capacity wagons for Tranz Rail.last_img

Bulk annuity, fiduciary market growth entices Aon Hewitt to launch merged solution

first_imgAon Hewitt has expanded its UK fiduciary management business to include the purchase of bulk annuities, as consultancies and investment managers continue to take advantage of the growing markets.The consultancy has developed a service called ‘implemented annuities’, allowing schemes to delegate investment strategy, the sourcing of an insurer, and the transaction of a bulk annuity arrangement.The new operation, which sits inside the firm’s fiduciary management business headed up by partner Sion Cole, has signed four of the top five insurers in the bulk annuity market to the platform, the firm said.The UK’s bulk annuity and fiduciary management markets have both seen significant growth in recent years. Fiduciary management grew from £20bn (€25bn) in assets under management in 2008 to close to £60bn in 2013, according to KPMG.While more linked to market conditions, data from LCP showed £7bn of bulk annuity transactions had occurred over 2013, while the first six months of 2014 alone saw £6.5bn.This has resulted in providers shifting business strategies to include the services. Aon Hewitt is the second company in as many weeks to offer a more holistic solution.Legal & General Investment Management (LGIM) launched a range of ‘buyout aware’ funds last week.The funds invest in liability-driven investment (LDI), credit, and growth strategies entirely designed to take schemes towards buyout funding level, while closely matching insurers’ desired assets.Once reached, pension schemes are incentivised to purchase a bulk annuity package with LGIM’s sister insurer Legal & General Assurance Services (LGAS).Aon Hewitt said schemes currently delegating investment decisions could add planning, legal and commercial negotiation, and implementation via the service.Pension schemes would also have access to ‘annuity ready’ investment funds.Senior partner and head of risk settlement, Martin Bird, denied the solution complimented LGIM’s new offering, as they remained different and independent.“They are very different things. We are independent advisors so we want to advise our clients on the best solution in the market, including LGAS,” he told IPE.“Many clients invest in all different types of LGIM funds, in particular the bond and LDI ones.“It is quite possible this would be the right fund to purchase an annuity. That could be with LGAS, or it could be with another insurance provider.LGIM’s new offering allows schemes to transact with LGAS by waiving transaction costs to shift assets, saving around 50bps off the average bulk annuity purchase.“From the client’s perspective, and from ours,” Bird said, “it does not matter what they are invested in today, and it doesn’t matter who will provide the insurance policy.“It is up to the client to decide who they want to transact with and the terms and price to be prepared to do that.”Bird also said the new service fits in well with Aon Hewitt’s ‘Pathway’ offering launched earlier this year.This offers clients standardised contract terms for bulk annuity transactions pre-negotiated with the market’s main providers.Earlier this week, the bulk annuity market continued its growth as the UK Unilever and Panasonic schemes both announced transactions.Consultancy LCP said it expected over £1bn worth of deals arranged and announced in the last three months of 2014.last_img read more

Sweden’s Folksam hit by 42% drop in first-half premiums

first_imgFolksam Liv, Sweden’s biggest life insurer by market share, saw a sharp decline in premium income in the first half of this year after it pushed through major changes in its with-profits life products last year.The life and pensions arm of Swedish mutual Folksam reported a 42% slide in premiums written to SEK5.18bn (€543m) from SEK8.94bn in the same period to June last year.In 2015, Folksam made changes to its traditional life-insurance product by separating old and new capital with a mid-year cut-off point and applying different bonus rates for each.It did this to reduce one-off deposits aimed only at sharing in its bonus interest programme; new capital pays out only half the percentage bonus rate applied to old capital. The move has had the desired effect of decreasing one-off premiums and increasing monthly instalment payments, Folksam said in the report.“As a result, we are ensuring our customers will continue to experience long-term, secure retirement savings,” it said.Private savings into traditional pensions dropped to SEK2.6bn from SEK3.8bn.Chief executive Jens Henriksson said the company’s biggest challenge was to achieve a return on assets under management amid negative interest rates and stock-market turbulence.He said the Brexit vote, while heightening uncertainty, could also provide opportunities for long-term investors.“Even though it is difficult to foresee the long-term economic consequences of this, Folksam and its subsidiaries can, as a well-capitalised investor, withstand downturns in its investments,” Henriksson said.Folksam Liv’s solvency ratio dipped to 155% at the end of June from 162% at the same point in 2015.The decline was due to lower market interest rates, which increased the technical provisions.The total return for the period amounted to 2.6%, down from 3.7%.“Equity assets in the portfolio,” the company said, “developed slightly negatively during the period, while fixed interest securities and, above all, real estate contributed positively.”AUM rose to SEK168bn at the end of June from SEK164bn at the end of December.Solvency levels at Folksam subsidiary KPA Pension, the local government sector pension fund, fell to 154% at the end of June from 166% at the end of December 2015. As with Folksam Liv, this weakening was due to low market interest rates that had increased technical provisions.KPA’s overall return fell to 1.9% in the first half from 4% in the first half of 2015. Premium income increased during the six-month period to KPA Pension by just over 3% to SEK10.6bn from SEK10.3bn.KPA’s assets under management grew to SEK144bn at the end of June from SEK132bn at the end of December.last_img read more

Brisbane auction market heating up

first_imgStefan, Kristine and 12-year-old Sarah Szylkarski will now call 47 Raighleigh Pde at Ashgrove home.A RENOVATED Queenslander in the leafy suburb of Ashgrove has proven that first impressions last.The five bedroom house sold under the hammer for $1.35 million yesterday, and is the new home of Stefan, Kristine, Sarah and Elise Szylkarski.“We liked the character of the house, the size of the land and the proximity to the city,” Mr Szylkarski.The house sits on a 940sq m block and was listed with Judi O’Dea of Space Property. Just two months earlier, Ms O’Dea sold the family’s house at Kelvin Grove.Mrs Szylkarski said they had completely renovated their former home, and were looking forward to restoring some of the original features of their new home, and opening up the verandas.“We liked the footprint of this house,” she said. “We like the Queenslander style.”47 Raighleigh Pde at Ashgrove is full of stunning original featuresAbout 15 people attended the auction, with a total of four registered bidders — two of whom put their names down mid-auction.The bidding started at $1.1 million and then stalled at $1.305 million before negotiations between the bidder, the agents and the vendor, who is now based in the UK.It restarted and the final offer of $1.35 million was accepted, making the Szylkarski family the proud new owners of the character home and its impressive cubby house.The cubby house at 47 Raighleigh Pde at AshgroveQueensland’s most viewed auction house of the week was 40 Jensen Rd at Banyo. The property has an impressive shipping container extension and had already attracted interest from interstate.More from newsParks and wildlife the new lust-haves post coronavirus17 hours agoNoosa’s best beachfront penthouse is about to hit the market17 hours agoThis house, and its shipping container extension, captured national attentionRay White Nundah agent Scott Freeman said the property was passed in but negotiations were continuing.“We have had a lot of interest from interstate and we have a number of serious buyers so I am confident,” he said. ”We have another open house next weekend.”At Newmarket, 14 Bearsden Avenue sold under the hammer for $1.75 million.Ray White Ascot agent Ian Cuneo said there were eight registered bidders but the house was ultimately won by a family from Asgrove.A family from Ashgrove will now call 14 Bearsden Ave at Newmarket homeAt Brighton in Brisbane’s north, a house on a 1009sq m block sold for $485,000.LJ Hooker Kallangur/Murrumba Downs agent Simon Booker said all four registered bidders made a play for the property, with offers jumping up in increments ranging from $500 to $20,000.“It started at $330,000 from memory and then just went from there,” he said. “It was sold to a local couple who were attracted by the lot size.”There were 12 registered bidders for a five-bedroom house at Sunnybank which was ultimately passed in, with negotiations continuing.At Mitchelton, Ray White chief auctioneer Mitch Peereboom called 109A Blackwood Street, which sold for $1.105 million after some active bidding by five keen buyers.“The price point in Mitchelton is really creeping up, with more and more selling for over $1 million,” he said. “It is still a very much undervalued suburb.”last_img read more

Greensburg dog park name revealed

first_imgGreensburg, In. — Dog owners and residents in Greensburg have spoken and the name of the new Dog Park will be the “Tree City Bark Park.”More than 80 ideas from the public were submitted and after voting “Tree City Bark Park” received more than 47-percent of the 302 ballots cast online. Incidentally, the name was submitted by six other residents.Officials are still formulating rules and registration guidelines, but expect the park to be open in June of this year.last_img

Florida Senate to Vote on New Parental Consent Abortion Bill

first_imgFlorida’s Senate Rules Committee approved a bill Wednesday requiring girls under age 18 to obtain a parent’s permission before having an abortion.The Committee voted 9-7 in favor of the bill, on the 47th anniversary of the U.S. Supreme Court Roe v. Wade decision that legalized abortion across the country.The state already has a law requiring that parents of a minor be notified before an abortion is performed. However, bill sponsor Republican Senator Kelli Stargel says, “I believe that parental notification is basically a child just saying, ‘This is what I’m doing,’ I think that consent requires a little bit more of a conversation between the child and the parent — requires a conversation of the ramifications, the pros and the cons, and they can talk through the discussion.”With the new bill, a parent or guardian would have to sign a notarized document consenting to the abortion. In addition, any doctor who performs the procedure on a minor without consent would be found guilty of a third-degree felony, an offense punishable by up to five years in prison.Democrats say the new law is an attempt to further erode abortion rights.“The bill continues a chipping away of women’s rights and that is something we shouldn’t trample on,” according to Democratic Senator Audrey Gibson.There is a provision in the new law that would allow a girl to receive a waiver from a judge in order to have an abortion without a parent’s permission in cases such as abuse, incest, or when obtaining permission is not in the child’s best interest.According to Republican Senate President Bill Galvano, the bill will be heard on the Senate floor next week and will be voted on the following week. A similar House bill is ready for a vote, with Republican Governor Ron DeSantis saying he supports the legislation.last_img read more

Gunman posing as a delivery driver opens fire inside federal judge’s home killing son and injuring husband

first_imgThe FBI is currently searching for a suspect who posed as a FedEx delivery driver before fatally shooting the 20-year-old son of a federal judge and injuring her husband.The incident was reported at the home of Judge Ester Salas in North Brunswick, New Jersey on Sunday.According to a judicial official who spoke anonymously about the incident, Salas’ son was shot after he answered the door for the suspect. The suspect then shot Salas’ husband who is a defensive attorney before fleeing the scene.Officials says Salas was in the basement at the time and was not injured.The FBI is currently searching for one suspect.last_img

Playing 2023 World Cup a definite goal of mine: Aaron Finch

first_imgMumbai: Australias limited-overs captain Aaron Finch is focussing on playing till the 2023 World Cup and said he would look to realise that “goal” if form and fitness permit.“I’d love to be, no doubt. At 33 now, I think my game is in as good a place as it’s ever been. That’s (playing 2023 World Cup) a definite goal of mine. That will come down to form and fitness; the desire won’t be any less than it is,” Finch was quoted as saying by the ‘Sydney Morning Herald’.“I know it’s a cliche, taking it one tour at a time, but that’s 100 per cent a goal of mine down the track,” he added.Finch has been a regular member of Australia’s limited-overs squad. However, he has featured in just five Tests for Australia and the 33-year-old is still hopeful of playing the longest format of the game.“It might be more of a dream now than a reality. I still have ambitions of trying to work my way back in there (Tests), but the tough part is trying to get enough four-day cricket to push your case. I missed one game with the Vics (Victoris) through injury, one game was called off, missed one with the T20 series,” Finch expressed.“Some of the young kids coming through, they’re so bloody good. I’d love to play. I suppose the next tour of Bangladesh, that’s probably, who knows, that would be up in the air. It’s still my No. 1 goal to try and get back into the Test side,” he added. IANSAlso read: We need to keep improving away from home: Aaron Finch Also Watch: Protesters, who walked all the way from Tinsukia-Guwahati to protest against CAA 2019, Detained!last_img read more