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Societe Generale deputy chief executive exits over Libor disagreement

Wednesday 14 March 2018 12:10 pm Two of its bankers were indicted over Libor manipulation last year by the US Department of Justice.Read more: A decade on, banks still haven’t learnt from the Kerviel fraud caseIn 2009 Jean-Pierre Mustier, former head of SocGen’s investment bank, stepped down following massive losses caused by rogue trader Jerome Kerviel.Kerviel, who was part of Mustier’s divison, lost €4.9 bn (£4.3bn) in unauthorised trades in 2008. Share Societe Generale deputy chief executive exits over Libor disagreement by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeRest WowThe Most Successful Female News Anchors On Fox NewsRest WowGotGravy.comThese Yachts Cost Fortunes. Celebrities Love ThemGotGravy.comDaily Sport XWhat This Family Found In Their Backyard Will Leave You In AweDaily Sport XMiaw StoreSome acts from your cat may be a sign for alarm. Get to know it nowMiaw StoreCleverstAlways Place A Bag On Your Car Mirror When Traveling Alone, Here’s WhyCleverstHistory 10Box Office Flops That Destroyed Careers And Cost Hollywood MillionsHistory 10Car NovelsCop Pulls Over A Car, But When The Driver Rolls Down His Window, His Life Changes ForeverCar NovelsSoolide9-Year-Old Boy Gives Police Officer A Note, Changing His Mom’s LifeSoolideCookingAmour12 Unexpected but Great Uses for Vicks VapoRubCookingAmour whatsapp The statement said that Valet “resigned in order to preserve the bank’s general interests”.Read more: Two former Societe Generale bank managers charged in US over Libor riggingHe will be replaced on an interim basis by chief executive Frederic Oudea.“The board of directors, and the general management wish to warmly thank Didier Valet for the quality of his commitment and his career within the group. Didier Valet succeeded in transforming the corporate and investment banking activities, building a profitable and sustainable model,” the statement said.The French bank is one of a number of banks caught up in the investigation into the rigging of Libor by US authorities. James Booth Societe Generale deputy chief executive Didier Valet has resigned following a “divergence of approaches”, the bank said in a statement today.The disagreement was related to “the management of a specific legal matter”, which is understood to be the investigation into the rigging of the London interbank offered rate (Libor). whatsapp read more


Bond yields fall as Trump calls for cut and ECB hints at stimulus

first_imgIn the UK, yields on 10-year government bonds, called Gilts, dropped 1.1 basis points to 0.457 per cent. Yields on two-year gilts fell 1.6 basis points to 0.474 per cent. Yields move inversely to prices. Tuesday 20 August 2019 9:49 am Harry Robertson European stock markets rose slightly in early trading, following their American counterparts upwards as investors hoped for more stimulus from two of the world’s biggest central banks. If interest rates fall, bond prices rise because their coupon – the amount paid out at regular intervals to the holder – is more attractive. Investors pile into the bond markets when they think rates are about to fall to try and cash in on the price rise and secure higher yields. whatsapp Investors’ attention has turned to both the release of the Fed minutes tomorrow, which will be parsed for signs of willingness to drop rates, and to chair Jay Powell’s speech at Jackson Hole, Wyoming on Friday, where he is expected to signal more stimulus ahead. Investors have bought up ultra-safe government bonds following the interventions. The yield on the 10-year US government bond, called a Treasury, dropped 2.7 basis points (0.027 percentage points) to 1.583 per cent. In Germany, yields on 10-year Bunds fell 2.2 basis points to minus 0.67 per cent. MANCHESTER, NEW HAMPSHIRE – AUGUST 15: President Donald Trump speaks to supporters at a rally in Manchester on August 15, 2019 in Manchester, New Hampshire. The Trump 2020 campaign is looking to flip the battleground state of New Hampshire with the use of a strong economy and appeals to his core voters on immigration and guns. (Photo by Spencer Platt/Getty Images) Read more: Danske Bank thinks US Fed will slash rates to one per cent by March “We believe that recession fears are overdone. But investors should prepare for a more sustained period of lower interest rates.” Trump yesterday evening called for a 100 basis point (one percentage point) interest rate cut from the Federal Reserve “over a fairly short period of time”.center_img Finland’s central bank governor Olli Rehn said yesterday evening that the ECB was determined to act if inflation stays stubbornly low. Eurozone inflation came in at just one per cent in July, well below the Bank’s target of close to two per cent. Bond yields fall as Trump calls for cut and ECB hints at stimulus He said: “A significant degree of monetary stimulus continues to be necessary to ensure that financial conditions remain very favourable and to support euro area growth and domestic price pressures.” Share Yields on global bonds have fallen following a renewed call for interest rate cuts from US President Donald Trump and dovish words from European Central Bank (ECB) board member Olli Rehn. Read more: Eurozone inflation falls to well below ECB target in July “The bond markets are signalling increasing concern over the economic outlook,” said UBS global chief investment officer Mark Haefele. “Alongside the aforementioned structural factors, the trade conflict is contributing to a period of sub-par economic growth. We therefore see a further 75 basis points of easing by the Fed.” whatsapplast_img read more


Deaths in Laois – Tuesday, March 24, 2020

first_img Deaths in Laois – Tuesday, March 24, 2020 Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role By LaoisToday Reporter – 24th March 2020 Twitter WhatsApp WhatsApp Home Deaths Deaths in Laois – Tuesday, March 24, 2020 Deaths Below are the recent deaths in Laois.Ar Dheis De go raibh a anam.Joe RyanAbbeyleix Rd, Portlaoise, LaoisRyan, Joe, Abbeyleix Rd, Portlaoise, 22nd March 2020. Peacefully, at his residence, surrounded by his loving family. Beloved husband of Eillen, and dearly loved father to Martin, Eileen, Catherine, Caroline and Siobhan. Deeply regretted by his loving family, brother Donnacha, sons-in-law John McCourt and Kenneth Glynn, daughter-in-law Mary, grandchildren Karen, Shauna, James, Hollyrose, Stephen and David, great-grandchildren Kian and Mia, nephews, nieces, relatives and a large circle of friends.Rest in PeaceA family requiem Mass at 12 noon on Tuesday, followed by interment in SS Peter and Paul’s Cemetery, Portlaoise. Covid-19 protocol will be observed. House strictly private. Memorial mass will take place at a later date.Michael McEvoyMountrath rd, Portlaoise, LaoisMcEvoy, Michael, Mountrath Road, Portlaoise, March 21 2020. Peacefully, in the loving care of Oakdale Nursing Home, Portarlington. Deeply regretted by his loving sisters Peggy Kelly and Kitsie Phelan, brothers-in-law, sisters-in-law, nephews, nicees, grandnephews, grandnieces, relatives and friends.Family Mass will take place at 12 noon on Monday, followed by interment in SS Peter and Paul’s Cemetery, Portlaoise. Covid-19 protocols apply. Social distancing shall be observed.James McMahonClopook, Stradbally, Laois, R32 N5T3 / Tulla, ClareFormerly of Tulla Co Clare. Beloved husband of Mary and much loved father of Maretta, Deirdre and Veronica. Deeply regretted by his loving family, sons in law, James and Simeon, grandchildren Ava, Sarah, Molly and Eliza, brother John, sisters Kathleen and Theresa, sister in law, Marie, predeceased by his brother Paddy and sister Mary, nieces, nephews, extended family relatives and friends.A private funeral will take place, due to goverment advice regarding public gatherings. A memorial Mass will take place at a later date.Joe WhiteRapla, Rathdowney, LaoisWhite, Rapla, Rathdowney, Co. Laois. March 21st, 2020. Peacefully in the wonderful care of Brookhaven Nursing Home, Ballyragget. Joe, predeceased by his brothers William and Palk and his sister Mary and brother-in-law Joe. Deeply regretted by his sister-in-law Peg and her family, Catherine, Julie-Anne, Mary, Mairead and Thomas, his brother Tommy, sisters-in-law Mary and May, nephews, nieces, grandnephews, grand-neices, neighbours, relatives and friends.As per the COVID-19 directive, Funeral and House Strictly Private.SEE ALSO – Deaths in Laois – Monday, March 23, 2020 Pinterest Electric Picnic TAGSDeaths in Laois Facebook Facebook Twitter Previous articleFr Paddy: Spiritual Nuggets of Hope in difficult timesNext articleWomen in Sport: From underdog to a guiding light in Irish women’s rugby, it’s Alison Miller LaoisToday Reporter News Electric Picnic Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Pinterest RELATED ARTICLESMORE FROM AUTHOR Electric Picnic organisers release statement following confirmation of new festival datelast_img read more


CI partners with DoubleLine

first_img Toronto-based CI Financial Corp. announced on Thursday that DoubleLine Capital LP will serve as subadvisor for CI’s yet-to-be-released lineup of fixed income ETFs and mutual funds.Based in Los Angeles, DoubleLine manages more than US$150 billion in assets. Its U.S. funds include the DoubleLine Total Return Bond Fund, the DoubleLine Core Plus Fixed Income Fund and the DoubleLine Fixed Income Fund. Related news Facebook LinkedIn Twitter Keywords Fixed-income funds IE Staff “This new relationship is the latest step in delivering on CI’s strategic priorities of modernizing our asset management business and expanding our wealth management platform,” CI CEO Kurt MacAlpine said in a statement. Share this article and your comments with peers on social media It’s a buyer’s market for corporate bond ETFs, insiders say Close up of businessman hands making handshake - greeting, dealing, merger and acquisition concepts kritchanut/123RFlast_img read more


Council working on water project for future jobs growth

first_imgCouncil working on water project for future jobs growth East Gippsland Shire Council is facilitating an upgrade of the South Bairnsdale Industrial Estate’s water supply to meet higher firefighting standards for large buildings, after advocating the importance of the project to the Victorian Government.Development in the estate is being limited by a firefighting water supply that is not designed to cater for buildings over 500m2.Council is working with the region’s urban water corporation, East Gippsland Water, and the Victorian Government on the project which will support economic growth and jobs in Bairnsdale.The Building Code of Australia requires buildings over 500m2 to have firefighting standard water pressure and flow rates much greater than currently provided to the estate.Anyone in the estate wanting to construct a building over 500m2 of floor space currently needs to install a private firefighting service.This private service can add an estimated $50,000-$150,000, depending on scale, to the cost of building at the owner’s expense. This is an impediment to development; reducing land values and limiting development, economic growth and jobs in East Gippsland.Council’s proposed solution has an estimated total project cost of $2.4 million.East Gippsland Water has already committed $1.1m to water upgrades for part of the estate, which are now underway to help meet potential growth. The Victorian Government has provided a grant of $500,000 and Council is considering providing another $400,000 contribution to the project.Council’s General Manager Bushfire Recovery Stuart McConnell said Council is proposing to raise the extra $400,000 needed to fund the project through a special charge scheme.“The special charge scheme would require a one-off payment from lot owners for blocks that can accommodate buildings over 500m2 floor space and will benefit from this scheme. The costs will be spread out across the significant number of lots in the area,” Mr McConnell said.Any landowner with a block smaller than 550m2, or who has already installed a private fire service will not be required to contribute to the scheme.”Council is consulting property owners in the estate and will hold information sessions in late January 2021.If you would like to discuss this project further, please contact Stephen Kleinitz, Senior Economic Development Officer on 5153 9500. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, Bairnsdale, building, bushfire, council, East Gippsland, East Gippsland Shire Council, Economic Development, fire, future, Government, jobs, local council, meet, project, property, space, Victoria, Waterlast_img read more


UK’s new Information Commissioner formally appointed

first_imgUK’s new Information Commissioner formally appointed Update on 25 January 2021: Following a request from the Secretary of State for the Department of Digital, Culture, Media and Sport, the Information Commissioner Elizabeth Denham has agreed to extend her term of office by just over three months ending on 31 October 2021 while the recruitment process for her successor is completed.Ms Denham will take up the role from 18 July 2016 for a period of five years, replacing Christopher Graham whose term of office ended on 28 June 2016.This follows approval by the Culture, Media and Sports Select Committee after a pre-appointment hearing on the 27 April 2016.Ms Denham was previously the Commissioner at the Office of the Information and Privacy Commissioner for British Columbia, Canada.The Information Commissioner’s Office (ICO) is the UK’s independent body set up to uphold information rights. The Department /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:British, Canada, Commissioner, culture, Denham, digital, Government, Media, Secretary, secretary of state, sports, UK, UK Governmentlast_img read more


Vancouver school board hears praise and frustration during listening session on distance learning

first_imgVancouver school board hears praise and frustration during listening session on distance learningPosted by ClarkCountyToday.comDate: Wednesday, September 23, 2020in: Newsshare 0 Work loads and technological limitations lead the list of frustrations for parents, while burnout is a major concern for teachersVANCOUVER — Better, but not ideal.That seemed to be the primary takeaway from an hour-long listening session held by the Vancouver Public Schools Board of Directors on Tuesday, part of a series of sessions aiming to hear from parents and teachers throughout an unparalleled start to the year.Shortly before that meeting, school districts across Clark County learned that their hopes of beginning to transition to at least some in-person classes would likely have to wait another month, at least. Vancouver Public Schools Board of Directors held a community listening session over Zoom this week to hear experiences with Distance Learning 2.0. Image via Vancouver Public SchoolsVancouver Public Schools Board of Directors held a community listening session over Zoom this week to hear experiences with Distance Learning 2.0. Image via Vancouver Public SchoolsVancouver Public Schools Superintendent Steve Webb said they had hoped to begin transitioning elementary grade students before the end of September. The move back into a high risk category would delay that until Oct. 20, at the earliest, assuming COVID-19 cases slow back into the moderate risk category by next week.Moderate risk was defined by the state Department of Health as fewer than 75 new cases per 100,000 residents over a 14-day period. Clark County’s rate is currently at 76.15 and trending upwards.“I know, obviously, that this is disappointing news for many,” Webb said Tuesday. “We know the very best place for students are in our schools and classrooms. Unfortunately, the COVID metrics are dictating otherwise.”The district is finalizing a first survey of families, asking a series of questions related to how Distance Learning 2.0 is going.The majority of nearly 4,500 families who had responded as if this week said they felt as if things were going more smoothly this time around. Seventy-three percent said they felt as if their child’s needs were being responded to either all or most of the time.“Our staff, students, families all should be applauded for standing up a significantly better version of remote learning this fall, and I just want to take this moment to thank them,” said Webb. “It’s clear, however, that remote learning is not working for everyone equally well, and the feedback received identifies some of those challenges.”A major improvement, noted several teachers, has been with attendance. While some educators say 30-50 percent of their students fail to log in regularly for classes last spring, most said attendance is almost 100 percent now, several weeks into the new school year.“Five year olds and iPads were a little bit worrisome,” said Jennifer, an elementary school teacher in the district, “but their families have jumped right in. Today, I had a little boy showing his mom how to do the apps.”The downside, she added, is that young children are sitting at a computer much more under the current system than they would be if in-person classes were a possibility.“If we were in class we would be using materials, using hands-on things and playing, which is not something that we can do over Zoom,” she said. “We’ve tried our best to get materials to them, but it’s just not like it is in the classroom.”Other students who struggle with social skills are not getting to interact with their peers, potentially putting them further behind the curve when they can return to class.Nate Young, a teacher at Walnut Grove Elementary, said he’s seen an increase in burnout for educators who are scrambling to try and fill every gap and reach out to students who might be struggling.“I would say that the reason that things are going well is because teachers have moved heaven and earth over the last four weeks to make things work,” Young told the board. “It’s been a struggle. We’ve had to relearn our jobs as teachers in a pretty substantial way.”Parents with older students said they appeared to be coping with the changes better, as could be expected, due to their quicker grasp of the technology and ability to interface with other students more easily.Rebecca Royce has a senior and a 2nd grader in the district, and said the younger child likely would be struggling much more if her husband wasn’t able to stay home and act as essentially a teacher’s assistant.“I also have my father living with me,” she added. “So the thought of going back to school and putting my second grader inside the petri dish is absolutely terrifying to me, because that is putting my dad’s life at risk.”Melissa Gonzalez is a paraeducator and a parent of four students in the district, two in high school and two in middle school. Her observation was that the workload for the younger students actually seemed to be larger than the older ones.“In my elementary school that I work in, our second grade class is doing more work than my middle and high schoolers have done the entire three weeks of distance learning,” she said. “It’s really difficult having two different lunchtimes, trying to keep my kids at the table focused on what they need to be doing, while the high schoolers are in the kitchen, cooking. And then vice versa.”Anne Vallee, an occupational therapist in the district, said it has been extremely stressful keeping up with 27 case managers for 85 different students across five schools.“Just attempting to come up with some kind of a workable schedule has been a really big challenge for me,” she said. “And then learning multiple platforms, because depending on what level you’re working with, and I’m working pre-K through high school, I have to learn everything.”All of that comes as the district put hundreds of classified employees, including a number of paraeducators and teacher’s assistants on furlough, unsure about their upcoming budget situation and how much time the hourly employees would actually be putting in.“We need to start bringing some of these paras back into the buildings, or into the Zooms even, if they work from home, and help support these teachers,” said Gonzalez, who was not put on furlough. “There’s no way one single teacher can do his or her entire schedule throughout the day, and hold small groups, and still teach these kids like they’re supposed to be doing.”Another teacher said she had heard from parents who sent an email to an address set up to respond to tech-related questions, and some had taken ten days to receive a response.“So many of my friends are teachers, and they have been working so hard to make this work for kids,” said Director Kathy Decker. “Hours and hours every day, and then weekends, and to the detriment of their own health in COVID.”The board’s newest member, Camara Banfield, added that many teachers have come to her in tears wondering if they even wanted to continue their career due to the difficulty of the transition.“Everything we’re trying to do is to support you, and there will be mistakes along the way,” she told the group of more than 100 people listening in to the Zoom session. “And having people like you that are willing to speak out, talk to us, let us know where we’re missing the boat. That’s what’s going to help us move forward.”“There are definitely challenges that need to be addressed, and I imagine there’ll be even more challenges that we haven’t yet heard, or that haven’t yet arisen,” concluded Board President Wendy Smith, who is also an educator. “I’m optimistic in the sense of there were a lot of things to celebrate here tonight, as well.”The Board plans to hold further listening sessions as the school year moves along. Anyone wishing to send along their own feedback and suggestions can do so by sending an email to [email protected] is placeholder textTags:Clark CountyLatestVancouvershare 0 Previous : WATCH: Clark County TODAY LIVE • Wednesday, September 23, 2020 Next : Two Prairie High School employees test positive for COVID-19AdvertisementThis is placeholder textlast_img read more


You can now buy a ‘brand-new’ 1978 Range Rover

first_img advertisement Many people regard the first-generation Range Rover to be one of the best-looking SUV designs of all time. Admittedly, it’s not typically a segment known for outward beauty, but the early Range Rovers do have an austere elegance to them. Especially when they’re painted in 1970s hues of mustard yellow, drab green or even gold.Old Range Rovers have a strong enthusiast following, but many have long ago succumbed to rust and deferred maintenance. No matter, because you can now buy a “brand-new” 1978 Range Rover thanks to Land Rover‘s new Range Rover Reborn program.Created with Raphaël 2.1.2Created with Raphaël 2.1.21978 Range Rover Classic three-door, as restored by the Land Rover Reborn program We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. COMMENTSSHARE YOUR THOUGHTS The Rolls-Royce Boat Tail may be the most expensive new car ever RELATED TAGSLand RoverRange RoverSUVAWD / 4x4Vintage / ClassicClassic CarsClassic Cars & TrucksNew Vehiclesall-wheel driveCars and Car DesignCulture and LifestyleLand Rover Group Ltd.Land Rover Range RoverSUVs and Crossovers Trending Videos Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca See More Videos Trending in Canada Created with Raphaël 2.1.2Created with Raphaël 2.1.21978 Range Rover Classic three-door, as restored by the Land Rover Reborn program.Handout, Land Rover Created with Raphaël 2.1.2Created with Raphaël 2.1.21978 Range Rover Classic three-door, as restored by the Land Rover Reborn program.Handout, Land Rover Created with Raphaël 2.1.2Created with Raphaël 2.1.21978 Range Rover Classic three-door, as restored by the Land Rover Reborn program.Handout, Land Rover Created with Raphaël 2.1.2Created with Raphaël 2.1.21978 Range Rover Classic three-door, as restored by the Land Rover Reborn program.Handout, Land Rover Created with Raphaël 2.1.2Created with Raphaël 2.1.21978 Range Rover Classic three-door, as restored by the Land Rover Reborn program.Handout, Land Rover Created with Raphaël 2.1.2Created with Raphaël 2.1.21978 Range Rover Classic three-door, as restored by the Land Rover Reborn program.Handout, Land Rover Created with Raphaël 2.1.2Created with Raphaël 2.1.21978 Range Rover Classic three-door, as restored by the Land Rover Reborn program.Handout, Land Rover Created with Raphaël 2.1.2Created with Raphaël 2.1.21978 Range Rover Classic three-door, as restored by the Land Rover Reborn program.Handout, Land Rover Created with Raphaël 2.1.2Created with Raphaël 2.1.21978 Range Rover Classic three-door, as restored by the Land Rover Reborn program.Handout, Land Rover Created with Raphaël 2.1.2Created with Raphaël 2.1.21978 Range Rover Classic three-door, as restored by the Land Rover Reborn program.Handout, Land Rover The program takes original classics, strips them down and rebuilds them flawlessly to as-new condition. The price is an unsurprisingly high $220,000 Canadian, and if that’s pocket change to you, hurry and get your order in – Land Rover is restoring just 10 classics for the initial run. It remains unknown how many they’ll make in future, if any at all. Mechanically, the specs are purely 1978, right down to the anemic 3.5L V8 with 132 horsepower. Land Rover’s team works with prospective buyers to track down original Range Rovers that have desirable and rare options, as well as interesting factory colours.While it’s refreshing to see junky old trucks get restored, there’s a very slim chance any of these trucks will be used like real 4x4s after restoration. ‹ Previous Next ›last_img read more


Racial ‘hierarchy of bias’ drives decision to shoot armed, unarmed suspects, CU study finds

first_imgShare Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: Oct. 24, 2012 Police officers and students exhibit an apparent “hierarchy of bias” in making a split-second decision whether to shoot suspects who appear to be wielding a gun or, alternatively, a benign object like a cell phone, research conducted by the CU-Boulder and San Diego State University has found.Both the police and student subjects were most likely to shoot at blacks, then Hispanics, then whites and finally, in a case of what might be called a positive bias, Asians, researchers found.In the first study of its kind, Joshua Correll, Bernadette Park and Charles M. Judd of CU-Boulder’s Department of Psychology and Neuroscience and Melody Sadler of San Diego State University examined how police and a group of undergraduate subjects decide whether to shoot or not to shoot “suspects” in a multi-ethnic environment.“Most studies on the subject of stereotyping and prejudice look at two (ethnic) groups, usually in isolation. It’s always one group against another group,” said Correll, a CU graduate who joined the faculty in August after a stint at the University of Chicago.“But as the country becomes more ethnically diverse, it’s more and more important to start thinking about how we process racial and ethnic cues in a multicultural environment,” he said.As with previous studies into the question, data were gathered from subjects playing a “first person shooter” video game, in which figures of varying ethnicity — Caucasian, Asian, Hispanic and African-American — pop up, either “armed” with a weapon or another benign object, such as a cell phone.Participants — 69 CU-Boulder undergraduates and 254 police officers — had to make quick decisions as to which figures posed a “threat” and shoot them. The police officers were recruited from two-day training seminars in Florida, New Mexico and Washington and represented numerous jurisdictions from 11 states.The research demonstrates how persistent cultural stereotypes are, Correll said. Even students who displayed little bias when interviewed demonstrated otherwise when faced with a split-second decision.“I may not believe it personally, but I am exposed to stereotypes constantly through media or social networks … (such as) the idea that young black men are dangerous,” he said. “Those associations can have an influence on my behavior even if I don’t believe them.”The study found that police were considerably more accurate than students at correctly identifying a genuinely threatening suspect, as opposed to those brandishing a cell phone or wallet, perhaps a reflection of training. But officers were still influenced by the target’s race — an influence that may derive from the officers’ “contacts, attitudes and stereotypes,” Correll said.For example, police who endorsed more violent stereotypes about Hispanics and those who overestimated the prevalence of violent crime in their districts demonstrated more bias to shoot Hispanic targets. That raises the question of whether police are responding to real-world threats — and whether that means some ethnic groups really are more likely to be armed and dangerous than others.“That is a very sensitive question, whether or not (police officers’) reactions are based on some kind of truth. Is this police officers responding to reality on the ground? The short answer is, we don’t know,” Correll said. “But this research almost demands that we ask that question.”The researchers’ recent findings were published in the Journal of Social Issues. The work was funded by a grant from the Russell Sage Foundation.In 2007, Correll (then at the University of Chicago), Sadler (then at CU-Boulder), Park and Judd collaborated with the Denver Police Department on a widely cited study that found police officers were less influenced than the general public by racial bias and less likely than the general population to make a decision to shoot at African-American suspects wielding a benign object.center_img Categories:AcademicsScience & TechnologyCampus CommunityNews Headlineslast_img read more


Minister Says JDIP Funds Almost Spent

first_imgFacebookTwitterWhatsAppEmail Minister of Transport, Works and Housing, Dr. Omar Davies, told Parliament Tuesday (January 24) that over US$398 million of the US$400 million allocated to the Jamaica Development Infrastructure Programme (JDIP) has already been used. In a statement to the House of Representatives, Dr. Davies said that, up to December 2011, payments under the project, coupled with the value of the work orders certified for payment, amounted to US$209.6 million. He stated that, in addition to the work orders certified for payment, information presented to him by the National Works Agency (NWA), indicated that additional funds totalling US$188.5 million have been committed, but not spent. “Simply put, as at December 2011, the combination of funds actually disbursed, works order certified for payment and the value of works committed amounts to just over US$398 million,” Dr. Davies said. “This means that if, as Minister, I accept the status quo, all but US$1.8 million of the US$400 loan, which was scheduled to be expended over a five year period, would have been completely committed before the end of the second year of the programme. Let me make it abundantly clear, we will not accept this situation,” the Transport Minister warned. He also stated that the Ministry of Finance, which was required to find US$15 million as the Government’s counterpart for the US$100 million budgeted to be spent in 2011/12, has to find an additional US$15 million to deal with the over-expenditure in this fiscal year. “I have issued instructions, through the Permanent Secretary and the Acting Chief Executive Officer of the NWA, that a thorough examination of this last set of commitments be carried out to determine the instances where the work has not yet been started,” Dr. Davies said. He added that the objective of the instruction was to allow the government an opportunity to address the deficiencies identified in the implementation of the project. Dr. Davies gave a commitment that the forensic audit of the JDIP will be executed. He noted that the terms of reference are being finalised, and will incorporate comments and suggestions from the Auditor General. The request for proposals is also being prepared and, very soon, the invitation to tender will be advertised. JDIP will be formally listed in the Estimates of Expenditure for financial year 2012/13. He said that the project provided “clear evidence of how easy it was to undermine the systems which have been instituted to increase accountability in, and transparency of public expenditure”. “How could it be that projected expenditure on a project could have been arbitrarily doubled within a fiscal year, without alarm bells being set off in the parent Ministry and the Ministry of Finance,” Dr. Davies stated. Opposition Spokesperson on Transport and Works, Karl Samuda, argued that the projected increases in expenditure on certain projects were due to increases in the price of oil. “Those variations impacted on the sub-contractors who were engaged on the project,” Mr. Samuda explained. Dr. Davies admitted that the government recognised that the fluctuation in the price of oil could have played a part in the increase in expenditure for certain projects.       In the meantime, the Ministry has initiated the process of filling the position of Chief Executive Officer at the National Works Agency. The post was advertised on Sunday. “Our expectation is that the person chosen will take up office on March 1. With the appointment of the new CEO, we intend to ensure that she/he will be held accountable for the implementation of the systems and procedures that adhere to best practices,” Dr. Davies said. RelatedMinister Says JDIP Funds Almost Spent By Latonya Linton, JIS Reporter RelatedMinister Says JDIP Funds Almost Spent RelatedMinister Says JDIP Funds Almost Spent Minister Says JDIP Funds Almost Spent TransportJanuary 25, 2012 Advertisementslast_img read more