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Showing posts with label 2017 at 10:53PM. Show all posts
Showing posts with label 2017 at 10:53PM. Show all posts

Sunday, June 11, 2017

Saturday, June 3, 2017

Oracle steps on cloud Accelerator to woo start-ups

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Oracle, one of the world’s biggest technology companies, is betting big to engage with innovative start-ups in India. From sourcing ideas to influencing …

June 03, 2017 at 10:37PM

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Inside Odyssey: The Decline of a College Media Empire

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Just nine months earlier, the little-known media startup had raised $25 million in capital from seasoned venture capitalist Michael Lazerow, who led …

June 03, 2017 at 10:37PM

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Monday, May 29, 2017

Kenya maintains rate as inflation seen above target

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By CentralBankNews.info
    Kenya’s central bank kept its Central Bank Rate (CBR) at 10.0 percent, as expected, saying its current policy stance had reduced the threat of demand-driven inflation, which is still expected to remain above the government’s target in the near term due to higher prices of some food items.
    The Central Bank of Kenya (CBK), which has maintained its rate since cutting it to the current level in September 2016, added recent rains and intervention by the government are expected to provide some relief to the recent rise in food prices, with non-food, non-fuel inflation stable at 5.0 percent, suggesting that demand pressures and pass-through of higher food prices are muted.
     Kenya’s headline inflation rate rose to 11.5 percent in April from 10.3 percent in March to the highest level since May 2012 as drought pushed up prices of maize flour, sugar, kales and tomatoes.
     Kenya targets inflation of 5.0 percent, plus/minus 2.5 percentage points.
     But Kenya’s shilling has remained stable this year, supported by a narrower current account deficit as tourism, coffee exports and remittances from abroad have remained strong. Tea and horticulture has remain resilient despite lower export volumes from adverse weather in the first quarter.
     The shilling was trading at 103.3 to the U.S. dollar today, down 1 percent this year.
     The CBK added its foreign exchange reserves were at all-time high levels and currently at US$8.239.9 billion, or 5.4 months of imports, up from $7.716.4 billion end-March. Together with IMF arrangements of $1.5 billion, this continues to “provide a buffer against short-term shocks.”
     In September last year Kenya’s government imposed a cap on banks’ interest rates and the CBK said a May private market perception survey showed marginally weaker expectations for economic growth from its March survey due to the impact of drought and a slower private sector growth.
     Data shows that the number of loan applications rose by 23.4 percent from August 2016 to April 2017, but the value of the applications fell by 18.3 percent. Loan approvals rose 35.7 percent while their value fell by 16.3 percent, the central bank said.
     However, the central bank added that credit to private households, manufacturing, and real estate had picked up in March and April this year.
     Kenya’s economy expanded by 5.8 percent in 2016, up from 5.7 percent in 2015.

   
      The Central Bank of Kenya issued the following statement:

“The Monetary Policy Committee (MPC) met on May 29, 2017, to review the outcome of its policy decisions and recent economic developments. The meeting was held against a backdrop of improved weather conditions, expectations of lower food prices, and general macroeconomic stability.
  •   Month-on-month overall inflation rose to 11.5 percent in April from 10.3 percent in March 2017, due to increases in food prices, notably sifted maize flour, sugar, kales (sukuma wiki) and tomatoes. Nevertheless, the recent rains and interventions by the Government are expected to provide some relief. Non-food-non-fuel (NFNF) inflation remained stable below 5 percent, suggesting that demand pressures and pass-through effects of high food prices are muted.
  •   The foreign exchange market has remained stable, supported by a narrower current account deficit. Receipts from tea and horticulture are resilient despite lower export volumes due to adverse weather conditions in the first quarter of 2017. Additionally, receipts from tourism, coffee exports, and diaspora remittances have remained strong.
  •   The CBK’s foreign exchange reserves are at all-time high levels. They currently stand at USD8,235.9 million (5.4 months of import cover) compared to USD7,716.4 million (5.1 months of import cover) at the end of March 2017. These reserves, together with the Precautionary Arrangements with the International Monetary Fund (IMF), equivalent to USD1.5 billion, continue to provide a buffer against short-term shocks.
  •   The predictability in government domestic borrowing has continued to support a stable yield curve, and the domestic target for FY 2016/2017 remains achievable.
  •   The banking sector remains resilient. The average commercial banks’ liquidity and capital adequacy ratios stood at 44.4 percent and 18.8 percent, respectively in
    April 2017. The average liquidity ratio rose in April partly due to increased deposits. The ratio of gross non-performing loans to gross loans decreased marginally to

    9.6 percent in April from 9.7 percent in February 2017.
  •   On the slowdown in private sector credit growth, which was largely due to factors in
    trade, manufacturing, real estate, and private households, the Committee noted that credit to private households, manufacturing, and real estate had picked up in March and April 2017.
    •   The Committee evaluated available data on the impact of capping interest rates. The number of loan applications increased by 23.4 percent between August 2016 and April 2017, but the value of loan applications decreased by 18.3 percent, suggesting smaller size of loan applications. The number of loan approvals increased by
      35.7 percent while their value decreased by 16.3 percent. Moreover, commercial banks’ lending to Micro, Small and Medium Enterprises (MSMEs) fell by an estimated 5.7 percent between August 2016 and April 2017, but with small banks recording an increase on average.
    •   The MPC Private Sector Market Perception Survey conducted in May 2017, showed marginally weaker growth expectations relative to the March survey on account of the impact of drought in the first quarter of 2017, and the slowdown in private sector credit growth. Nevertheless, the respondents expect the ongoing public infrastructure development to continue to support growth.
    •   Although a modest pick-up in global growth is expected in 2017 there are considerable risks to the outlook. Uncertainties remain on the economic policies of the U.S. administration, the Brexit outcome, and normalization of monetary policy in the advanced economies. These risks also have potential implications on global financial market stability.
      The Committee concluded that overall inflation is expected to remain above the Government target range in the near term due to elevated prices for some food items. Nevertheless, the prevailing policy stance had reduced the threat of demand driven inflation. The MPC therefore decided to retain the Central Bank Rate (CBR) at
      10.0 percent. The Committee will continue to closely monitor developments in the domestic and global economies, and stands ready to take additional measures as necessary.”

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May 29, 2017 at 10:39PM

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from Forex Contributor

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Why valedictorians rarely become rich and famous — and the average millionaire’s college GPA is 2.9

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graduation

If you opened this article thinking you’d find evidence of why students who graduate at the top of their high-school class go onto become lazy bums, well, you won’t find it.

A Boston University researcher who followed valedictorians and salutatorians into adulthood found that most did in fact achieve the traditional markers of success. Nearly everyone graduated from college, where their average GPA was 3.6; the majority went on to earn a graduate degree; and nearly half landed in top-tier professional jobs.

So far, so expected.

“But how many of these number one high-school performers go on to change the world, run the world, or impress the world? The answer seems to be clear: zero.”

The above is a quotation from Eric Barker’s new book, “Barking Up the Wrong Tree,” where he cites the Boston University research.

Barker’s point is that while top students generally go on to be successful, few of them go on to achieve the kind of wild success most of us dream of.

Instead, kids who struggle with, or don’t particularly enjoy, formal education are more likely to get there. In fact, a study of 700 American millionaires found that their average GPA was just 2.9.

There are two potential reasons for this phenomenon, Barker writes:

1. “Schools reward students who consistently do what they are told” — and life rewards people who shake things up.

Karen Arnold, the Boston University researcher, told Barker: “Essentially, we are rewarding conformity and the willingness to go along with the system.”

In other words, the valedictorians found out exactly what the teachers wanted and delivered it consistently.

But if you think about the world’s most influential thinkers and leaders, most came up with an out-of-the-box solution to some political or scientific issue. Going along with what was already working moderately well never made anyone famous.

When he visited the Business Insider office in May, Barker explained: “In school, rules are very clear. In life, rules are not so clear. So a certain amount of not playing by the rules is advantageous once you get out of a closed system like education.”

Man Studying2. “Schools reward being a generalist” and the real world rewards passion and expertise.

Barker explains that, even if you’re fascinated by history in high school, you can’t spend all your time studying the European Renaissance. At some point, you’ve got to stop and move onto your math homework.

But once you’re in the working world, you’ll need to excel in a particular domain — and other knowledge or skills won’t matter so much.

And here’s the real shocker: Arnold found that intellectual students who genuinely enjoy learning tend to struggle in high school. They find the education system “stifling” because it doesn’t allow them to pursue their passions deeply.

Barker summed up all the research nicely in the interview with Business Insider: “Valedictorians often go on to be the people who support the system — they become a part of the system — but they don’t change the system or overthrow the system.”

None of this is to say, of course, that if you were your high-school valedictorian, you’ll never achieve big-time success. You might very well.

But you’ll have to keep in mind that playing by the rules won’t get you as far as it once did. Taking risks and going against the grain — “sticking it to the man,” if you will — is harder to do, but it’ll get you farther.

SEE ALSO: Ask yourself 4 questions to figure out if you’re successful

Join the conversation about this story »

NOW WATCH: A Stanford neuroscientist reveals something ‘puzzling’ in people who are extremely successful

May 29, 2017 at 10:40PM

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from Shana Lebowitz

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Friday, May 26, 2017

BNC Bancorp Investor Sues Over $1.9B Pinnacle Merger Docs

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A putative class of BNC Bancorp shareholders slapped the bank and Pinnacle Financial Partners Inc. with a suit in North Carolina federal court on Thursday, alleging that key details of the bank holding companies’ proposed $1.9 billion merger weren’t adequately disclosed in shareholder materials.

May 26, 2017 at 10:43PM

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Wednesday, May 24, 2017

BMO Financial Group Reports Net Income of $1.25 Billion for Second Quarter of 2017 – Canada NewsWire (press release)

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BMO Financial Group Reports Net Income of $1.25 Billion for Second Quarter of 2017
Canada NewsWire (press release)
Unless otherwise indicated, all amounts are in Canadian dollars and have been derived from financial statements prepared in accordance with International Financial Reporting Standards (IFRS). References to GAAP mean IFRS. They are also presented on …

and more »

May 24, 2017 at 10:47PM

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Monday, May 22, 2017

Ready, Set, Go! Rematch of Man vs. Machine in Ancient Game

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AlphaGo, Google DeepMind’s artificial intelligence program, will compete against the Chinese world champion Go player Ke Jie in a three-game series.

May 22, 2017 at 10:48PM

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Saturday, May 6, 2017

Why ‘Shark Tank’s’ Mark Cuban invested in a veterans start-up with product from Afghanistan

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Chicago-based Rumi Spice made a deal with the Dallas tech entrepreneur on the hit show.

May 06, 2017 at 10:47PM

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Facebook exec Sheryl Sandberg: ‘Marry the nerds’

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The self-made billionaire says the right partner can help you advance your career.

May 06, 2017 at 10:47PM

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Silver Speculators sharply reduced bullish net positions, down for 3rd week

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By CountingPips.comGet our weekly COT Reports by Email

Silver Non-Commercial Positions:

Large speculators and traders decreased their bullish net positions in the silver futures markets last week for a third consecutive week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of Comex silver futures, traded by large speculators and hedge funds, totaled a net position of 71,367 contracts in the data reported through May 2nd. This was a weekly drop of -22,246 contracts from the previous week which had a total of 93,613 net contracts.

Silver net speculative positions have now declined by over -34,000 contracts over the past three weeks after speculators built a record high bullish position on April 11th (+105,515 net bullish contracts).

Silver Commercial Positions:

The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -86,574 contracts last week. This is a weekly change of 21,515 contracts from the total net of -108,089 contracts reported the previous week.

Silver ETF:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SLV ishares ETF, which tracks the price of silver, closed at approximately $15.93 which was a decline of $-0.75 from the previous close of $16.68, according to ETF financial market data.

*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://ift.tt/1BFu6fQ).

Article by CountingPips.com

 

May 06, 2017 at 10:44PM

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from CountingPips Forex

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Copper Speculators raised bullish net positions for 1st time in 5 weeks

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By CountingPips.comGet our weekly COT Reports by Email

Copper Non-Commercial Positions:

Large speculators and traders increased their bullish net positions in the copper futures markets last week following four weeks of declines, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of copper futures, traded by large speculators and hedge funds, totaled a net position of 18,538 contracts in the data reported through May 2nd. This was a weekly rise of 6,080 contracts from the previous week which had a total of 12,458 net contracts.

Copper positions had fallen for eleven out of the previous twelve weeks and to a new low level since November 1st before last week’s rebound brought net positions to the best level since early April.

Copper Commercial Positions:

The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -19,482 contracts last week. This is a weekly change of -7,492 contracts from the total net of -11,990 contracts reported the previous week.

Copper ETN:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the JJC iPath Bloomber Copper ETN, which tracks the price of copper, closed at approximately $30.02 which was a gain of $0.51 from the previous close of $29.51, according to financial market data.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the previous Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://ift.tt/1BFu6fQ).

Article by CountingPips.com

 

May 06, 2017 at 10:44PM

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from CountingPips Forex

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Friday, May 5, 2017

Amazon’s Twitch wants to stream some ‘choose your own adventure’ TV shows

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“Will it happen? There’s a high probability.”

May 05, 2017 at 10:38PM

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Seth Bernstein steps into the breach at AllianceBernstein

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New chief executive installed at fund manager as part of shock leadership shake-up

May 05, 2017 at 10:51PM

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SEC’s Chief Accountant: Issuers Must Address ‘Other Reporting’ Risks

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Disclosing supplemental information like key operating metrics and forecasts requires controls and procedures, says the SEC’s Wesley Bricker.

May 05, 2017 at 10:47PM

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from Vincent Ryan

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Cohn Suggests More Inclusive Approach To Tax Reform

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SS2-dnc8-072816-sm.jpg

President Donald Trump’s chief economic adviser Gary Cohn suggested Friday the administration will take a more inclusive approach to crafting a tax reform bill. Cohn suggested that the approach will make it easier to pass tax reform than the healthcare bill.

May 05, 2017 at 10:37PM

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