9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » The Department of the Treasury released a report Monday outlining more than 100 changes to financial regulations. CUNA is analyzing the report.“We are carefully reviewing the Treasury’s report. Based on our initial review, the report appears to reflect input that we gave the administration in meetings and other engagements, and it shows that that the administration understands that credit unions need common-sense regulations,” said CUNA President/CEO Jim Nussle. “For too long, the one-size-fits-all rules meant for Wall Street have been hurting Main Street’s financial sector. We appreciate that the Treasury Department recognizes that credit unions know how to lend and promote economic growth in their communities, and we will continue to work with policymakers to improve the operating environments for credit unions and their members.”The majority of the changes would be made at the regulatory level, not through legislation.
Oct 28, 2005 (CIDRAP News) – The US government has awarded Chiron Corp. a $62.5 million contract to make a vaccine for H5N1 avian influenza as part of efforts to prepare for a possible human flu pandemic.Meanwhile, the World Health Organization (WHO) said today that recent isolates of the H5N1 virus from birds and humans in Asia show slight genetic changes from the isolate on which current experimental H5N1 vaccines are based. However, the WHO is not recommending changing the prototype strain used for vaccines at this point.Chiron, based in Emeryville, Calif., said it would supply the vaccine to the government in 2006. It is not yet known how many people the vaccine would protect, because the dose size has yet to be determined in clinical trials, officials said.The Department of Health and Human Services (HHS) has a stated goal of stockpiling enough H5N1 vaccine to vaccinate 20 million people. In September the agency awarded Sanofi Pasteur a $100 million contract to supply an H5N1 vaccine. The dose size for that vaccine also remains to be determined.”An influenza vaccine effective against the H5N1 virus is our best hope of protecting the American people from a virus for which they have no immunity,” HHS Secretary Mike Leavitt said in announcing the contract yesterday.Chiron said it would make the vaccine at its plant in Liverpool, England, where the company’s seasonal flu vaccine is made, but production of the H5N1 vaccine will not affect production of the seasonal vaccine.Chiron won a contract from the National Institute of Allergy and Infectious Diseases (NIAID) in May 2004 to produce small amounts of an H5N1 vaccine for use in clinical trials. In yesterday’s announcement, the company said it would provide the vaccine for NIAID studies “later this year.”The vaccine to be tested by NIAID and the one to be produced under the HHS contract are the same, Chiron spokeswoman Alison Marquiss told CIDRAP News. However, the vaccine for HHS will be in bulk form, whereas the vaccine for the NIAID will be in “filled and finished form.” The NIAID will test various doses and formulations of the vaccine, she said.Marquiss said plans call for making the HHS vaccine after production of this year’s seasonal flu vaccine is finished, which should permit delivery of the experimental vaccine in the first half of 2006.WHO cites changes in H5N1The WHO said its monitoring of H5N1 viruses has revealed recent changes in the hemagglutinin (HA) genes of viruses from birds in several countries and from humans in Indonesia. HA is a surface protein on flu viruses that enables them to attach to and enter host cells; it also serves to identify the viruses to the human immune system. (In virus names like H5N1, “H5″ signifies the hemagglutinin type.)”Recent investigations have indicated that H5 haemagglutinins (HA) genes of viruses from birds in China, Indonesia, Japan, Mongolia, Russia, South Korea and Turkey, and 3 viruses from humans in Indonesia are genetically distinguishable from the prototype strains selected last year for influenza pandemic vaccine development,” the WHO said. “There is also evidence of antigenic variation among the HA of recent viruses. However, their geographical spread and pathogenicity in human populations remain unclear.”The WHO said it does not recommend changing the H5N1 prototype strains chosen previously for vaccine development. But the agency said its “H5 Reference Laboratory Network” has begun developing H5N1 vaccine prototype strains from the recent viruses.There is no guarantee that the experimental H5N1 vaccines now under development would work in the event of a pandemic, since the virus is likely to evolve further before that happens. But experts hope that the vaccines would be close enough to the pandemic strain to provide at least some cross-protection. The viral changes reported by the WHO seem to suggest that the vaccines now in development would be less likely to work well, though the WHO didn’t say that.The agency said it urgently needs analyses of more recent H5N1 viruses from both animals and humans “in order to obtain a better understanding of the evolution of the viruses and their antigenic relationships.” The statement called on countries to quickly share viral isolates and specimens with the WHO lab network.Progress on other avian flu vaccinesIn other news, Chiron today announced promising preliminary results in a clinical trial of a vaccine for another avian flu virus that has been known to infect humans, known as H9N2. The virus caused serious illness in three people in Hong Kong in 1999 and 2003 and is viewed as capable of evolving into a pandemic strain.Four different doses of Chiron’s experimental H9N2 vaccine were tested in 96 people. Some of the doses contained an adjuvant (a substance that stimulates the immune system) called MF59. All the formulations containing MF59 generated antibody levels believed high enough to protect a person from the virus, the company said. The lowest dose used was 3.75 micrograms, only a quarter of the amount used in seasonal flu vaccines.Vaccine formulations without MF59 generated significantly lower levels of antibodies, the company said. The trial was supported by the NIAID, which awarded Chiron a contract in August 2004 to make up to 40,000 doses.Progress on still another avian flu vaccine was reported by the European Union (EU) Commission yesterday. Researchers from several countries have developed an experimental vaccine for the H7N1 virus, which is viewed as another potential pandemic strain, the EU statement said.H7N1 caused deadly outbreaks in Italian poultry in 1999 and was related to the H7N7 virus, which devastated Dutch poultry flocks in 2003, the EU said. European researchers reported recently that antibodies to H7 viruses were found in Italian poultry workers in 2003.The H7N1 vaccine was developed by the “FLUPAN” consortium, including flu experts from the United Kingdom, Italy, Norway, and Sanofi Pasteur in France, the EU statement said. They used reverse genetics to create the vaccine, called RD-3.”The risk of H7 emerging as a pandemic influenza strain is considered to be lower than H5N1,” the EU statement said. “Nonetheless, it is expected that the H7 FLUPAN research will be a valuable resource for pandemic vaccine development in the future.”See also:Oct 27 HHS news releasehttp://archive.hhs.gov/news/press/2005pres/20051027.htmlOct 15 Journal of Infectious Diseases article on H7 viruseshttp://www.journals.uchicago.edu/doi/full/10.1086/444390
Read also: Indonesia taxes tech companies through new regulationTax office spokesperson Hestu Yoga Saksama said the Finance Ministry was now drafting a regulation to implement the Perppu’s provisions. The regulation will allow the government to instruct the digital companies, such as streaming giant Netflix and Swedish music streaming platform Spotify, to collect, pay and report charged value added tax (VAT).“We have started communicating with some of their [digital companies’] representatives in Indonesia. We hope that it [tax collection] will start taking effect in several months,” he told The Jakarta Post recently, citing the examples of similar practices conducted in Singapore, Malaysia and Australia.In Singapore, starting from Jan. 1, customers subscribing to overseas digital services have to pay a 7 percent goods and services tax after the Goods and Services Tax Act was passed in November 2018. The government’s move to roll out the legal basis for imposing taxes on digital companies operating in Indonesia might just be the beginning of its struggle going forward, with concerns surfacing over perceived unfair practices and the enforcement of the regulation.Government Regulation in lieu of law (Perppu) No. 1/2020 issued last week serves as the legal basis for the government to tax foreign companies with a “significant economic presence” that provide digital services and intangible goods from outside the country.The significant economic presence will be determined through the companies’ gross circulated product, sales and/or active users in Indonesia, the regulation reads. Indonesia has yet to gain significant state revenue from mushrooming digital companies offering and selling services in the country to date. One of the main reasons is that many of the digital companies operate from abroad, with no legal entity in Indonesia.The home screen for the Netflix Inc. original movie Two Popes pictured in this undated photo. (Bloomberg/Gabby Jones)Under the Perppu, the government is able to declare digital companies with a significant economic presence as permanent establishments, obliging them to comply with domestic tax regulations.Yoga confirmed the high state earning potential from the digital tax, which is expected to increase in the future. He, however, declined to give specific details with regard to potential income.Finance Minister Sri Mulyani Indrawati said recently that the government decided to tax the digital companies because their sales soared during the pandemic.“They will be the government’s tax base, especially such as today when we use Zoom or Netflix. The companies are not present in Indonesia so they can’t be taxed. But their economic activities are huge,” Sri Mulyani told a teleconferenced briefing.Netflix recorded US$20 billion of revenue globally in 2019, up by 31 percent from the previous year, of which more than $1 billion came from the Asia Pacific region. Meanwhile, Spotify clocked up $1.85 billion in 2019 globally, up by 24 percent from the previous year.Data website Statista has estimated Indonesian Netflix subscribers to number around 481,000 in 2019, a figure that has not been confirmed by Netflix. Statista also estimates the number of music streaming users in Indonesia to be 26.7 million, a 3.3 percent increase from the previous year.“Ultimately, it’s for governments to decide the rules on tax – and in every country in which we operate, Netflix respects those rules,” Netflix has said previously. “Taxation is an important and much-debated issue in Indonesia – and we’ve had conversations over the last few months with the tax authorities.”Read also: Indonesia accelerates tax reforms, cuts corporate income tax in COVID-19 playbookHowever, the upcoming digital tax has been met with caution by both digital service users and experts. Institute for Development of Economics and Finance (Indef) expert Andry Satrio Nugroho voiced concerns about a level playing field in the digital business landscape after the tax was imposed.“The government needs to establish a similar level playing field and convince business players that the government as a regulator will not use a regulation to hinder specific parties from competing,” he said, citing state-owned telecommunications company PT Telekomunikasi Indonesia’s (Telkom) decision to block Netflix services on its internet network.Telkom has contended that Netflix does not yet fully comply with Indonesian regulations regarding media content.“If the government plans to impose the tax on OTT [over the top companies], the government needs to also grow trust in the digital sector that discriminatory practices will not be not used by the regulator or state enterprises,” he stressed.Meanwhile, Indonesia ICT Institute executive director Heru Sutadi highlighted the concern over sanctions in the case of noncompliance by OTT companies in the future. “It’s not very easy to enforce the rules if the OTT headquarters are elsewhere,” he said.Read also: State revenue to contract 10% as businesses suffer, tax incentives take effect: Sri MulyaniBased on the Perppu, the sanction for tax regulation noncompliance could be a block on access to the digital service, after a warning. The Finance Ministry has pledged to work with the Communications and Information Ministry and Statistics Indonesia (BPS) in supervising the data exchange and employing sanctions.Heru also questioned the government’s coordination among ministries on enforcing the digital tax sanction, especially with the recent $1 million partnership between Netflix and the Education and Culture Ministry.“The strategy of foreign OTTs in Indonesia is always like that. If there is an institution that presses them, they will go to another institution to collaborate,” he said.Topics :
“These wrongful actions were personal actions, and do not involve our customers.”Bloomberg first reported the news earlier in the day.Last month, JPMorgan Chase & Co dismissed several employees who allegedly misused funds that were supposed to help businesses dealing with the COVID-19 pandemic, the Financial Times reported. Topics : Wells Fargo & Co has fired about 100 to 125 employees for unethically availing themselves of coronavirus relief funds, according to a source familiar with the matter.The bank believes some of its staffers made “false representations in applying for coronavirus relief funds for themselves”, defrauding the US Small Business Administration, David Galloreese, head of Human Resources, said in an internal memo seen by Reuters.The abuse was tied to the Economic Injury Disaster Loan program and outside the employees’ roles at the bank, the memo said, adding Wells Fargo will cooperate fully with law enforcement.
“We will work to develop a minor in pensions for our many master students in finance and/or economics at CBS,” he said.These courses – and perhaps the minor – will also be available for masters students at other universities, Sørensen said.Funding has been pledged by the pensions sector to the tune of DKK2m per year for the first five years, and CBS will top this up with an extra 25%, or DKK500,000 a year, for five years.The centre aims to put on a “flagship” conference once a year, as well as workshops and possibly other activities to bridge ideas, knowledge and learning between practitioners and academics interested in pension issues, Sørensen said.The first flagship event will be held in June, focusing on the pension sector investing in a low interest-rate environment.Right now, this is one of the two main challenges Sørensen sees facing the Danish pensions industry, the other being the increasing number of people becoming pensioners who will need to sustain their level of living based on pension savings.The centre already has a number of research projects in progress, including one on forecasting stock returns for long-term investors, one on the implications of credit constraints on retirement saving decisions and another on the macroeconomic effects of longevity adjustment of the retirement age and pension benefits.The three directors – all professors at CBS – are Sørensen, Svend Erik Hougaard Jensen from the department of economics and Jesper Rangvid from the department of finance.“Other academics involved in the centre are mostly other researchers from the department of economics and the department of finance at CBS,” Sørensen said.“But there will also be a few academics from other universities – both in Denmark and outside Denmark – involved.”Besides Lærernes Pension and PensionDanmark, the centre’s list of sponsors from the industry includes ATP, Danica Pension, Industriens Pension, Nykredit Livsforsikring, Topdanmark, SEB Pensionsforsikring and Skandia Livsforsikring.Though the centre will work closely with the pension sector, including people working at pension funds and providers on its advisory board, Hougaard Jensen stressed it would maintain academic objectivity.“The cooperation with the pension sector is an essential part of PeRCent,” he said. “It provides us with a direct dialogue so we can coordinate our work with the sector continuously.“But, of course, we are not in the sector’s pocket, and the research we do is independent.”Torben Andersen, professor at Aarhus University – who is currently chairman of the Pension Commission in Denmark – will chair PeRCent’s advisory board.Other members of the advisory board are Peter Løchte Jørgensen, also a professor at Aarhus University; Susan Christoffersen, professor at the University of Toronto; Möger Pedersen; Brüniche-Olsen; Per Bremer Rasmussen, chief executive of industry association Forsikring & Pension; Danica’s chief executive Per Klitgaard; ATP chief executive Carsten Stendevad; and Laila Mortensen, chief executive of Industriens Pension. A new research centre on pensions has begun work in Copenhagen with DKK12.5m (€1.7m) in funding over the next five years, with the aim of increasing knowledge of the subject through research and helping develop the industry sector in Denmark.The Pension Research Centre (PeRCent) started up in January at Copenhagen Business School (CBS), having secured funding from the industry, as well as the business school itself.CBS professor Carsten Sørensen, one of the centre’s three leaders, told IPE: “We hope to provide excellent research output in the period so that the centre may continue receiving external funding from the pension sector in Denmark also, in continuation of this five-year period.”As well as producing this research, the centre will develop pension courses for CBS students.
Loading… Barcelona are plotting to offload several ‘heavyweight’ players and will attempt to enforce pay cuts on those who refuse to leave. The details are outlined in a report from Cadena Ser, who say that incoming boss Ronald Koeman and sporting director Eric Abidal have been placed in charge of ‘cleaning up’ the first-team squad at Camp Nou. Striker Luis Suarez, left-back Jordi Alba and central midfielder Ivan Rakitic are among three of the highest earners who the club are hopeful of moving on this summer, although there are doubts on any other clubs being able to afford their wages. Promoted ContentYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime5 Of The World’s Most Unique Theme Parks6 Secret Origin Stories Of Modern FoodsBest & Worst Celebrity Endorsed Games Ever Made6 Extreme Facts About Hurricanes5 Of The World’s Most Unique Theme Parks8 Superfoods For Growing Hair Back And Stimulating Its GrowthMost Appreciated First Ladies In The History Of AmericaInsane 3D Spraying Skills Turn In Incredible Street ArtWho Is The Most Powerful Woman On Earth?Which Country Is The Most Romantic In The World?Fantastic-Looking (and Probably Delicious) Bread Art Read Also: Europa League: Inter set up Sevilla final after thrashing Shakhtar It is claimed that the club will encourage all three to leave the club and if they refuse an exit, the club will then manoeuvre to impose a salary cut – although there are no indications as to how this could occur. Barcelona transfer news looks likely to be increasingly focused on selling players rather than buying this summer as they aim to reduce their wage bill. FacebookTwitterWhatsAppEmail分享
“There should be no room for such intolerance and racism in sports and we expect that the English Premier League officials as well as the police will give Anelka the appropriate punishment. “We know that English football officials have a very low tolerance for racism at football matches and we hope that all concerned will abhor and show zero-tolerance for this hateful Nazi salute.” Kantor, describing the ‘quenelle’ as “merely a lesser known Nazi salute”, added: “Furthermore, we hope that this gesture is banned in all places of Europe where Nazi salutes are banned. “Merely inverting the traditional Nazi salute should not allow anti-Semites to spread and display their hate with impunity.” West Brom caretaker manager Keith Downing played down the prospect of disciplinary measures immediately after the match. Downing said of Anelka: “He is totally unaware of what the problems were or the speculation that has been thrown around, he is totally surprised by it.” Press Association Sport understands the Football Association will be looking into the matter, while anti-racism campaign group Kick It Out has offered its assistance to the national governing body. Earlier this month FIFA handed Croatia international Josip Simunic a 10-match international ban for leading fascist chanting following his team’s World Cup play-off victory over Iceland. The defender was captured leading songs with associations to Croatia’s former pro-fascist regime. West Brom striker Nicolas Anelka has denied his goal celebration at West Ham on Saturday had any racial or anti-Semitic connotations and asked people not to be “duped by the media”. The former Arsenal and Real Madrid striker caused a storm in his native France by performing the ‘quenelle’ salute made famous in his homeland by comedian Dieudonne M’Bala M’Bala after scoring the first of his two goals at Upton Park in the 3-3 draw. The gesture has been linked to anti-Semitism in France and The European Jewish Congress has demanded action, claiming Anelka should be subjected to the same punishment handed out to those who perform a Nazi salute. Press Association French minister for sport Valerie Fourneyron also condemned the gesture as “shocking” and “disgusting”. But Anelka is adamant it was nothing more than a “special dedication to his friend Dieudonne”. He expanded on Twitter: “I do not know what religion has to do with this story. “This gesture is a dedication to Dieudonne. With regard to the ministers who give their own interpretations of my quenelle, they are the ones that create confusion and controversy without knowing what the gesture really means. “I ask people not to be duped by the media. “And of course I am neither racist nor anti-Semitic.” Dr Moshe Kantor, president of The European Jewish Congress, believes Anelka should be punished, however. “It is sickening that such a well-known footballer would make such an abusive and hateful gesture in front of tens of thousands of spectators,” Kantor said.
Chelsea manager Jose Mourinho has admitted he is taking a risk in selecting Diego Costa for Sunday’s Premier League clash at Manchester City, but that the Blues cannot do without their star striker. “Let’s hope he comes in the right direction and becomes available to play every game.” After 13 years with Chelsea, Frank Lampard is now part of Manchester City’s squad, having joined on loan from New York City FC. Lampard has made just one appearance for City so far – he was hauled off at half-time at Arsenal – and may not feature against his former club. Mourinho does not believe Chelsea’s record goalscorer has burnt his bridges with west London by moving to City and will return in future. “I believe that nothing has been lost. His place in Chelsea’s history is untouchable,” Mourinho added. “I still believe that what this club proposed to him, which is to be back when he wants and to do what he wants. These were the words from Mr Abramovich (Roman Abramovich, the Chelsea owner). I think it’s not in any danger. “We thought he was going to play for New York. He decided to play for Man City. It was just an option, and he had that right to do that. “I cannot wish him good while he’s playing for a direct rival, especially when he’s playing against us, but he will always be one of my favourite ever players.” Chelsea, with a 100 per cent record, are already five points clear of City, who have not won in three matches, including the midweek loss at Bayern Munich. But Mourinho played down the significance of the contest on a title race which is only just beginning and which, he says, also features Arsenal, Liverpool and Manchester United. “We play against 19 other teams and for the title it’s not just City,” he added. “We are in September, we have a long run and we need to try to improve.” Mourinho has analysed last season’s matches at the Etihad Stadium, when Chelsea won, ending City’s 61-game run of scoring at home in the Premier League, before 12 days later falling to a 2-0 loss in the FA Cup. Mourinho continually spoke of City having the best squad in the Premier League last term, but he declined the opportunity to appraise them against his bolstered Chelsea this term. “I don’t want to compare,” he said. “I just want to say that I feel our squad is better than last season.” The Portuguese also insisted his relationship with City boss Manuel Pellegrini is good, despite some verbal barbs last term. “We don’t spend holidays together,” Mourinho said. “I respect the person and the manager. I will be on the bench. If he comes, at his house (stadium) and gives me his hand, I will be more than happy give him mine. “I don’t have a problem. Far from it, no problems.” His relationship with Abramovich also appears good, with the Russian billionaire seen in jubilant celebration during last week’s defend of Swansea. Mourinho said: “I work for him. I cannot call him or knock on his door and ask: ‘Mr Abramovich, are you happy?’ “But my feeling is, yes. My feeling, as every Chelsea fan – and he’s not just a fan, he’s the fan and he’s the owner – is happy.” Press Association Asked if Costa was so important to Chelsea that Mourinho had to pick him, the Blues boss said “yes” before answering in the affirmative when asked if it was a risk. “Diego is not in the best conditions, but he will start the game,” said Mourinho, who reported no other injury problems. “He plays this game, he cannot play against Bolton (in the Capital One Cup next Wednesday). It’s as simple as that. “I know clearly that we have to try to protect him until he gets completely fit.” Only rest will resolve the problem, but Mourinho, Costa and Chelsea’s medical staff have discussed the issue as they bid to find a solution during a challenging period of fixtures. The City trip is the first of four key domestic games in Champions League weeks for the Blues. The trip to Sporting Lisbon is followed by a home clash with Arsenal, Manchester United away follows the Maribor home tie and a date at Liverpool is immediately after the trip to Slovenia. “In this moment I don’t have this problem,” Mourinho said. Mourinho opted to select the Spain striker, who has scored seven times in four Premier League matches this term, only as a substitute in Wednesday night’s 1-1 draw with Schalke in Champions League Group G. The £32million summer signing from Atletico Madrid is not ready to play more than one game a week, according to Mourinho, after a hamstring problem recurred while on international duty earlier this month.
The young Bournemouth manager, widely considered among the most promising in the country, observed Brendan Rodgers’ methods while the Northern Irishman was in charge at Swansea before his appointment at Liverpool. As a young player he also worked under Sean O’Driscoll, one of his predecessors at Bournemouth who this summer became Rodgers’ new assistant, and there is little question he has been strongly influenced by the two. Eddie Howe will be competing against two of his “role models” when Bournemouth face Liverpool at Anfield on Monday. Press Association “I thought it was nothing more than he deserved, really, because he’s an outstanding coach. It’s great to see the good guys do well in football. I’m delighted for him but when we meet up it’ll be purely work. “[O’Driscoll was] probably hugely influential, without me really directly knowing it, in a sense that you’re moulded by experiences and people that you work with and work for. “I was associated with Sean for a long time, way back to my youth team days. Naturally, when you look at someone and observe them closely you inherit their beliefs and some of the ways that they work. “I certainly believe Sean had a huge part in my management style. Obviously he’s moved on and I haven’t seen or worked with him for a long time, but I think that stays with you. I was very lucky, as a young professional, to have such a forward-thinking coach as Sean.” Howe also said Bournemouth are not at present bidding for any players, including reported targets Charlie Austin or Jonathan de Guzman. The three share similar philosophies on how football should be played, preferring creativity and possession to pragmatism or being direct. “[Rodgers has] been a role model, really, for me,” said Howe, 37. “Someone you look up to and admire. I admired watching his Swansea teams play. “When you try and analyse games and analyse systems, and philosophies, he’s certainly someone that I’ve looked at. I respect the way he conducts himself as well. “I think he’s now building another Liverpool team, a new Liverpool team, this year, so it’ll be interesting to see how they do. “Liverpool are going to be up there competing in the top places in the league, there’s no doubt about that. That’s why it’s going to be one of our toughest games of the season. [It’s] Liverpool’s first home game of the season, making it even more special. For us, we’ve got to make sure we turn up.” O’Driscoll was appointed to replace Liverpool’s previous assistant manager, Colin Pascoe, after Rodgers controversially chose to reshape his coaching staff at the end of a disappointing season. His arrival at Anfield surprised many observers but Howe was not among them because, as with Rodgers, O’Driscoll taught him so much. “It won’t mean anything to me during the game because you’re working and you’re there to do a job and get a result, but it’s great to see Sean doing so well and at a great club like Liverpool, so congratulations to him on that move,” said Howe.