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Beijing may have slowed housing bubble — for now

first_imgShare via Shortlink China’s domestic housing sector was entering bubble territory last summer. (Getty) The Chinese government’s recent efforts to temper unsustainable growth in the country’s housing market seem to be working, at least for now.The price of new homes in the country’s largest cities was up 3.7 percent year-over-year in December, the slowest rate of growth since 2016, according to the Financial Times.China’s domestic housing sector was entering bubble territory as of last summer. Buyers were more heavily leveraged than ever, homes were flying off the shelves, and investors had put $1.5 trillion into the market between June 2019 and 2020.That growth was slowed only temporarily by the coronavirus pandemic, and by the end of the year, the government stepped in.“The government doesn’t want property prices to keep rising and rising,” said a researcher at a government-run think tank, who called that “politically not acceptable.”In August, the government adopted tighter lending requirements for developers, including a 70 percent ceiling on liabilities to assets and a 100 percent cap of debt to equity. Developers also had to have enough cash on hand to meet their short-term obligations in full.Still, it’s unclear how effectively the market can be kept under control.Orient Capital Research’s Andrew Collier said the government is better at controlling credit today than 5 or 10 years ago, but that banks and non-traditional lenders had ways to “game the system.”The government has since targeted lenders, limiting loans to developers and allowing mortgages to make up only 32.5 percent of a bank’s outstanding credit.[Financial Times] — Dennis Lynch Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlinkcenter_img TagschinaHousing Marketlast_img read more

Continental rift to back-arc basin: Jurassic-Cretaceous stratigraphical and structural evolution of the Larsen Basin, Antarctic Peninsula

first_imgThe Larsen Basin developed in Jurassic times as a result of continental rifting during the early stages of Gondwana break‐up. Lower‐?Upper Jurassic non‐marine sedimentary and volcanic rocks constitute a syn‐rift megasequence recording initial largely amagmatic extension and subsequent widespread extension‐related silicic volcanism. A succeeding, Kimmeridgian–early Berriasian transgressive megasequence, consisting largely of anoxic‐dysoxic hemipelagic mudstones, is thought to have been deposited during a thermal subsidence phase when relative magmatic quiescence and peak Jurassic eustatic sea levels served to maximize sediment starvation. The fragmentary record for late Berriasian–Barremian times suggests that a ?regressive megasequence may have developed in the earlier part of this period, recording increased sediment yield to the Larsen Basin from the increasingly emergent Antarctic Peninsula arc. Subsequently, strata in the southern, but not the northern, part of the basin underwent relatively intense eastward‐verging deformation, possibly during the formation of a retro‐arc fold‐thrust belt. Where exposed, the lower part of the succeeding Aptian–Eocene megasequence consists of a deep‐marine clastic wedge deposited along the fault‐bounded western basin margin during a phase of arc uplift and related differential subsidence. Following partial basin inversion in Late Cretaceous times, regression took place as reduced basinal subsidence rates allowed shallow marine facies to prograde basinward.last_img read more

Report: J.J. Watt has received offers from multiple teams

first_imgFebruary 25, 2021 /Sports News – National Report: J.J. Watt has received offers from multiple teams Written by Beau Lundcenter_img FacebookTwitterLinkedInEmailAllen Kee / ESPN ImagesBy JEANETTE TORRES-PEREZ, ABC News(NEW YORK) — It’s been nearly two weeks since the Houston Texans released J.J. Watt and already, the defensive end has reportedly received offers from multiple teams.Citing league sources, ESPN reports that the biggest deal is believed to be worth between $15 million and $16 million.Among the teams interested in Watt are the Cleveland Browns, according to ESPN, although it is not yet known if the Browns have submitted an offer to the 31-year-old.Watt, who was drafted by the Texans in 2011, requested to be released from the team and his wish was granted earlier this month. In his 10 years in Houston, he won three NFL Defensive Player of the Year awards (2012, 2014 and 2015) and became the team’s all-time sacks leader.Copyright © 2021, ABC Audio. All rights reserved.last_img read more

Tenant Fees Bill – MPs unanimously vote through second reading

first_imgHome » News » Tenant Fees Bill – MPs unanimously vote through second reading previous nextRegulation & LawTenant Fees Bill – MPs unanimously vote through second readingThe legislation that will bring in the tenant fees ban next year sailed through its latest stage in the Commons with few MPs dissenting from the accepted line that the ban is a good idea.Nigel Lewis21st May 201804,164 Views Letting agents hoping for a miracle defeat for the Tenant Fees Bill last night in the Commons during its second reading were disappointed when it was passed unanimously by MPs following a three-hour debate.Although 123 MPs are landlords, only two pointed out any failings in the legislation that might have given letting agents hope.These were Labour’s Andrew Lewer and Conservative Alex Chalk, both of whom asked that not all agents should be tarred with the same ‘rogue’ brush and that the bill could prompt higher rents.“There are hard-working people in this sector and we shouldn’t punish the unscrupulous at the expense of the far more numerous hard-working ones,” said Lewer (pictured, right).Default feesBut all of the dozen or more other speakers were in support of the bill’s aims, many on both sides of the political divide calling for it to be tightened up particularly in relation to ‘default fees’.“Rogue letting agents have for too many years been able to profit from unsecure tenancies,” said Dr Paul Williams.Default fees are one of the few fees agents will be able charge soon and will be permissible only when a tenant prompts work, for example if they ask for changes to a contract, leave a tenancy early or lose their keys.DepositsOne other area of intense debate during the second reading was the six-week deposit ceiling; many speakers said it would persuade agents and landlords to ‘go to the max’ above the current average industry standard of four weeks.Also, many of those involved in the debate worried that any ‘grey areas’ would be exploited by unscrupulous or rogue letting agent to generate replacement fees.Free marketOne sign of how far the Tory party has come on fees reform was free marketeer John Stevenson MP (right), who said that although he preferred markets to be unfettered, it was now the right time to introduce reform.But he warned it should not prevent competition between agents – a point ARLA has often made.Letting agents hoping that MPs would accept industry arguments that agents do a lot of work for tenants and should therefore charge them were dashed.“The good letting agents will accept this legislation and comply with it,” said Clive Betts, who is also chair of the housing select committee.He also called for the government to look into the growing provision of insurance-based deposits services such as Zero Deposit and others.BrightonThe most contentious speech was made by Brighton MP Lloyd Russell-Moyle (pictured, right), who claimed “most” agents in his city are involved in ‘sharp practices’ and that all holding deposits in Brighton start at £500.But one glimmer of hope for agents came from MP Richard Graham, who said he believed the legislation mirrored existing changes within the lettings industry.“The role of agents is changing from one of intermediary in an analogue age to a landlord’s compliance department in the digital age,” he said.Industry reaction so far“The tenant ban is a positive move by the government and removes unnecessary costs to tenants at a time where they are outlaying large costs” says Mark Readings, MD of online agent House Network (pictured, right).“We do not charge tenants fees [and] if the majority of the industry follows suit, then it is the letting agents who suffer the revenue loss rather than the landlords, and as such, should not result in rent increases.“Letting agents work in an extremely competitive marketplace and the tenant ban legislation will enable new business models to come into the market – the high street agents will have to overcome a revenue shortfall and this could boost the market share of online agents further.“The government have admitted that it could cost letting agents between £1bn – £4bn over the first 10 years and as such could effect job losses within the industry – however, the most productive letting agents will overcome this change and the market will be a fairer place for the consumer, which we fully support.”Read more about the Tenant Fees Bill.Watch the debate in full.parliament Clive Betts Commons tenant fees ban Tenant Fees Bill May 21, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

Hill Announces $220K Fundraising Haul, But Not Re-Election Bid

first_img Dave Stafford for FacebookTwitterCopy LinkEmailShare Thomas E. McInerney, CEO of Bluff Point Associates, a private equity firm and venture capital company in Westport, Connecticut, who donated $25,000 on June 17.The Republican Attorney Generals Action Fund, which gave $20,000 on May 24.John Catsimatidis, New York billionaire, CEO of Manhattan grocery chain Gristedes Foods, and radio talk show host who recently purchased radio station WABC (AM) in New York, donated $12,500 on May 31.Ginger Myers, co-owner with her husband, Keith, of Louisiana-based in-home health care services provider LHC Group and Coteau Grove Thoroughbred horse farm in Sunset, Louisiana, donated $10,000 on June 6.Additionally, Brian J. Smith, a financial/investment professional from Bristol, Indiana, gave $10,000 on April 29.Hill’s PAC had a balance of about $121,000 as of January 2019, according to online records. Hill raised and spent about $1.5 million in his 2016 campaign for AG, financial disclosures show. His Democratic opponent in the AG’s general election race that year, Lorenzo Arredondo, raised and spent about one-tenth that amount.center_img Whether Indiana Attorney General Curtis Hill is officially running for re-election next year has yet to be announced, but the embattled AG claimed his political action committee scored a record fundraising haul in the past two months.In an email Wednesday, the Curtis Hill for Indiana PAC announced what it called “a record at this point in the cycle for an Indiana Attorney General” — more than $220,000 in recent months. A significant amount of the contributions are from large, out-of-state donors.At the same time, Hill has yet to officially announce whether he will seek a second term as AG amid a sexual misconduct scandal that has overshadowed his term with calls for his resignation from Gov. Eric Holcomb and Statehouse leaders of both parties. Spokespeople for Hill’s campaign also refused to answer a direct question from Indiana Lawyer Wednesday about whether Hill would run for re-election as AG.“Will stick with statement campaign emailed out,” a campaign aide said in an email.The Hill campaign’s three-paragraph statement did not say whether Hill was a candidate for re-election, but instead touted his fundraising prowess, attributing those results to his actions as AG.“From challenging the constitutionality of ObamaCare to fighting illegal immigration to defending the right to life, I have taken on the tough fights as Attorney General. It’s been one of the highest honors of my life to serve and I am just getting started,” Hill said in the statement.  “I look forward to continuing to work to defend the rule of law, our conservative values and our way of life.”But Hill faces legal and ethical obstacles to a potential re-election bid. He and the state are being sued by a lawmaker and three legislative aides who claim he groped them at the 2018 legislative sine die party and then used the resources and platform of his office to retaliate against them. Hill in October also must answer to a Disciplinary Commission complaint about those accusations, which may jeopardize his license to practice law and continue serving as AG.But Hill also faces a political obstacle: an announced rival for the Republican AG nomination that will be decided by delegates to the party convention next year, not by voters in a primary election. Bose McKinney & Evans LLP attorney John Westercamp kicked off his campaign for the GOP nomination for attorney general last month with a campaign-style statewide swing.Westercamp also has established a PAC — Friends of John Westercamp — chaired by Bose partner Brantley H. Wright. Bose partner Kevin Andrew Halloran is listed on campaign disclosures at the PAC’s treasurer. Westercamp has yet to report any contributions.While announcing a total of $220,000 raised in the last two months, Hill’s campaign has not yet reported the source of those all those contributions. However, several of the donations are large enough to require immediate reporting, and more than one-quarter of the amount Hill has raised has comes from large, out-of-state contributors. According to the Indiana Elections Division of the Secretary of State’s office, those donors are:last_img read more

Vanderburgh County Drug Symposium set for April 18

first_imgThe Vanderburgh County Prosecutor’s Office will be hosting a Drug Symposium on April 18 to bring awareness and prevention perspectives to the increase of prescription drug abuse and heroin.We invite you to join us to hear from the three panels of medical experts and addiction specialists from around the state and the local area on how to better understand, treat and enforce the issue.The day-long event will be held at the Old National Events Plaza with a light breakfast and lunch provided. Please arrive by 7:30 a.m., so the program can begin around 8 a.m.If you are part of the media and plan to attend (even if it’s just for half of the day), please register. All attendees must be signed up by April 5. You can do so by calling or emailing our office.Drug Symposium Invitation.jpgFacebookTwitterCopy LinkEmailSharelast_img read more

Board of Education Candidate Profile: Dale Braun

first_imgWhat you would like voters to know about you and your vision for the board?A strong school district is an important ingredient to the continued success of a community. Since this school district was an important reason for our family to relocate here permanently, I hope to continue the great work that our board has achieved. Three issues you think are most important:Decisions being based and weighed on what is best for the children, best for the parents, and best for the taxpayers of Ocean City.Decisions ensuring that Ocean City remains a strong, viable community with a great school system, which in turn, attracts families, the next generation of residents.Continue the working partnership with the city and various organizations to achieve common, desired goals in a cost-effective manner. Ocean City Board of Education candidate Dale BraunFour candidates will vie for three seats on the Ocean City Board of Education in the general election on Tuesday, Nov. 4.The following candidates will be on the ballot:Dale F. Braun Jr. (see below)Joseph S. Clark Jr. (see profile)Cecelia Gallelli-Keyes (see profile)Michael Allan James (see profile)Clark and Gallelli-Keyes are incumbents. The other vacant seat is currently held by Tiffany Prettyman, who will not run in the election.The school board includes nine members from Ocean City, who are elected to three-year terms in staggered years, and three members from Upper Township, who are appointed to one-year terms.Traditionally held in the spring, school elections moved to November in Ocean City in 2012. The ballot will include Congressional and Cape May County candidates, as well as school board candidates.The following is a candidate profile for Dale F. Braun Jr. Profiles for other candidates will appear in subsequent days. The candidates were asked to complete biographical and brief platform information in their own words.______Name: Dale F. Braun, Jr.Age: 50Education: B.S. in Business Administration/Accounting, Drexel University, Class of 1987No. of years lived in Ocean City: 4.5 years after vacationing here for 17 yearsFamily in school system: Emily, grade 4; Victoria, Ocean City High School Class of 2013Occupation: Stay-at-home father. Retired after 25 years in banking, as an executive officer, SVP and controller.Public service: Currently — Shore Medical Center volunteer, St. Damien religious education program, St. Damien eucharistic minister, Primary School Book Fair, OCHS after-prom., OCPTA.  Previously, all with Bishop McDevitt High School in Glenside, Pa — Member of Financial Development Advisory Board, chairman of the Annual Giving Campaign, founding member of the Alumni Association, first Treasurer of Association, chairman of various committees, including By-Laws, member of Alumni Hall of Fame..last_img read more

Bakers profit from LOW-GI mix

first_imgCapitalising on the vogue for seeded breads, ingredients supplier Bakels’ low Glycaemic Index (GI) Multiseed Bread Mix has been one of the most successful launches in the company’s history, says MD Paul Morrow. He claims that its customers are profiting from the trend towards low-GI products and the point-of-sale promotion conducted by the firm.And the brand is being endorsed by bakers around the country. Multiseed Bread Mix may be aimed at the healthy-eating market, but the reason it sells so well is its taste, according to award-winning Wrexham baker Dawn Van Rensburg. She is the sixth-generation family member to be involved in running Gerrards Confectioners in North Wales, which has 10 retail outlets and six custom-made sandwich and snack delivery vans, all supplied from the central bakery in Wrexham. She claims that Gerrards’ success in its sixth generation is based on a reputation for quality. “Our family business is well-known for producing only the best. My husband Dirk started ‘Gerrards Direct’ quite recently to provide a direct delivery service of our products to company workplaces and it has been very successful, mainly due to the fact that people recognise our name and like our goods.”Gerrards introduced multiseed bread about a year ago and it has already become the bakery’s top-selling bread line, accounting for 20% of wholesale bread sales and 13% of retail bread sales. And with the retail price of a 400g loaf at £1.24, Van Rensburg says she is making a healthy profit. “We’ve never had a single customer complaint over price – the product tastes good, which is what our customers have come to expect.”With low-GI diets now having a major impact on the healthy eating market, Bakels mix means that bakers can produce low-GI bread with reduced salt, suitable for dieters and diabetics. By using the concentrate, bakers can also produce bread and rolls that will appeal to health-conscious customers while boosting profit margins, claims Bakels. “Gerrards is achieving a good price for a 400g loaf,” adds Morrow, “but some of our customers are selling bread [made with the mix] for as much as £1.40.”While the product may be aimed at the health-conscious consumers, one Yorkshire baker is selling 1.2 tonnes a month of baked goods using the mix – from just one shop and a tearoom. Gordon Nicholson, the fourth generation of the family, now runs the business with his father David. “It has been a fantastic success,” says Nicholson. “Customers have been known to drive more than 20 miles from Leeds and Halifax to purchase low-GI bread.”He puts the success of the mix down to a series of factors. “Firstly, we never launch a product unless our staff is 100% behind it, so we tried it out on them first and they loved the taste. That means they have recommended it to our customers and sales have soared. Secondly, we made good use of Bakels’ point-of-sale material, which includes a leaflet explaining how low-GI bread may help consumers lose weight as part of a calorie-controlled diet. And thirdly, it is proving extremely popular with students at the nearby sports college and with parents of schoolchildren for lunchboxes.”As well as selling rolls, baguettes and 400g loaves, Nicholson’s has a thriving sandwich trade with tuna & sweetcorn, crab & prawn and ham salad being the most popular fillings.Bakels says that more than one million bakery customers have now been given the facts behind low-GI bread, thanks to the company’s point-of-sale campaign. The promotion, entitled “Great taste, great waist”, explained how a GI diet works and how low-GI multiseed bread can contribute to that. According to Bakels, more than 1,300 bakery shops – most of which are in the craft sector – took advantage of the promotion and Bakels has now distributed more than one million information leaflets to support the campaign.“It has been extremely well received in the craft sector,” adds Morrow. “It offers bakers a huge opportunity to capitalise on the GI trend. All the indications are that low-GI products will continue to grow in popularity.”Bakels’ Low Gi Multiseed Bread concentrate contains pumpkin, linseed and sunflower seeds which, together with wheat bran and oat flakes, produce a darker-style bread with a coarse, open texture. The concentrate is used in a ratio of 1kg to 1kg flour and is available in 16kg bags.Bakels is planning a new consumer campaign for the mix, due to break in the autumn.What is the Glycaemic Index?The GI ranks carbohydrates on how fast they raise blood sugar levels. A low-GI food is absorbed slowly, maintaining more even blood glucose levels.last_img read more

Barry Callebaut posts solid full-year figures

first_imgCocoa and chocolate supplier Barry Callebaut has reported solid volume and value growth in the past 12 months.In its full fiscal year results between 2010 and 2011, the Swiss-based global company reported an overall 7.2% increase in sales volume, with an increase in Western Europe by 1.8% to 671,424 tonnes. Its sales revenue, however, outperformed volume growth at 7.5%.This is despite the company announcing the sale of Stollwerck, its European Consumer Products business, to Belgian Baronie Group in July. As a result of this move, Barry Callebaut has refocused on serving the business-to-business markets supplying its premium chocolate, fillings and decorations to artisan bakers and food manufacturers. Juergen Steinemann, CEO of Barry Callebaut, said: “We saw another year where we delivered on our targets. We again outperformed the global chocolate market, both with our Food Manufacturing Products and our Gourmet business. “With the sale of our European Consumer Products business we confirmed our strategy. I am proud of our performance in the emerging markets and the fact that we were able to also sign four new strategic partnership agreements. This proved once again the attractiveness of our business model.”The company’s Food Manufacturers Products business and Gourmet & Specialties Products division, which includes confectionery, bakery, pastry and the HORECA (hotels, restaurants and catering) business, also showed good growth during the 12-month period.last_img read more

Press release: Cruel electric shock collars for pets to be banned

first_imgThe consultation attracted over 7,000 responses. Around 50% of respondees specifically pointed out that they did not want containment fences banned.A considerable number of responses, whether supportive of a total ban or supportive of invisible fencing, also expressed concern at the number of people who use the hand-held devices incorrectly and without proper training.For further information please see the Government’s full response to the consultation. Cruel electronic training collars which are used for dogs and cats are to be banned under new legislation, the Government has announced today.Remote controlled electronic training collars (e-collars) have a remote device that triggers an electronic pulse, which can be varied in strength, while others may spray a noxious chemical. As well as being misused to inflict unnecessary harm and suffering, there’s also evidence e-collars can re-direct aggression or generate anxiety-based behaviour in pets – making underlying behavioural and health problems worse.The action follows a public consultation on a proposed ban for all e-collars.However, after listening closely to the views of pet owners and respondents, the Government will not extend the ban to invisible fencing systems which can keep pets away from roads and potential traffic accidents. These devices are particularly useful for cat owners and animals often respond well to invisible fencing and quickly learn to stay within a boundary without receiving a static pulse.Secretary of State Michael Gove said: We are a nation of animal lovers and the use of punitive shock collars cause harm and suffering to our pets. This ban will improve the welfare of animals and I urge pet owners to instead use positive reward training methods.last_img read more