first_imgPresident Barack Obama today signed legislation to provide $350 million in emergency assistance for hard-pressed dairy farmers. US Senator Bernie Sanders (I-VT) sponsored an amendment that added the dairy funds to the Department of Agriculture appropriations bill. He joined the president at the White House for the Oval Office bill-signing ceremony. The measure provides $290 million for direct support to dairy farmers.  Another $60 million will be used to purchase cheese and other dairy products for food banks and nutrition programs.Sanders and Sen. Patrick Leahy (D-Vt.) and Rep. Peter Welch (D-Vt.) said additional measures are needed to bring price stability to the dairy industry and to help preserve family farms.“Dairy farmers are in desperate need. We must help them as soon as possible,” said Sanders.Leahy, a senior member of the Senate Appropriations Committee, called the bill “another timely lifeline for dairy farmers who are struggling just to stay afloat through this crisis.”Rep. Peter Welch, cochairman of the Congressional Dairy Farmers Caucus, said the measure will provide “much-needed temporary support to these hardworking, dedicated members of our community.”The average price farmers received for their milk fell this year to $11.30 per hundredweight, down from $19.30 in July 2008.  It costs farmers at least $18 per hundredweight to produce milk. As prices plunged, family dairy farms in Vermont and around the country went out of business.Dairy farmers got a temporary boost from the Agriculture Department last July 31 when Agriculture Secretary Tom Vilsack – after meeting with the senators from Vermont and other dairy states – approved a  three-month price hike that was expected to increase farmers’ revenue nationwide by $243 million.Source: Vermont Congressional Delegation. WASHINGTON, October 21, 2009 –last_img read more

first_imgAnalysis shows U.S. shale drillers still not profitable FacebookTwitterLinkedInEmailPrint分享 the hype of lower breakeven prices, and despite the hype around longer laterals, energy digitalization, and other technological breakthroughs, most shale companies are still not profitable.In fact, roughly 9 out of every 10 U.S. shale companies are burning cash, according to Rystad Energy. The Oslo-based consultancy studied 40 U.S. shale companies and found that only 4 of them had positive cash flow in the first quarter of 2019. In fact, the number of companies with positive cash flow was lower than it was previously, and total cash flow from the group fell from $14 billion in the fourth quarter to just $9.9 billion in the first.“The gap between capex and [cash flow from operating activities] has reached a staggering $4.7 billion. This implies tremendous overspend, the likes of which have not been seen since the third quarter of 2017,” Alisa Lukash, Senior Analyst on Rystad Energy’s North American Shale team, said in a press release.U.S. shale drillers have historically loaded up on debt in order to continue to finance their cash burn. But investors have soured on the sector, finally waking up to the fact that shale drillers by and large are money losers. According to Rystad, no shale company has made a public offering since the collapse of oil prices last year, the longest stretch of time with no public capital issuance since 2014. “Recently released data, which confirmed dismal first quarter earnings, only served to cement negative market sentiment,” Lukash said. Investors are fed up and are “leaving no room for undisciplined spending in 2019.”Smaller shale companies are in a particularly tough position. Even as investors demand capital discipline and an end to reckless spending, small drillers are unable to sit still because of the treadmill of declining shale wells. Rapid declines in output require constant drilling, which, if you are an unprofitable company, requires constant reinjections of capital. For years, that was not too much of problem as long as Wall Street kept the taps open.However, financing is becoming less abundant as tightfisted investors become more demanding. Instead, in order to survive, small shale companies are under pressure to either grow their way out of the problem or find a buyer, Robert Kaplan, president of the Federal Reserve Bank of Dallas said in an interview with the FT.More: Shale drillers keep on falling into the same traplast_img read more

first_img 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr You got the notification: the regulator wants to sit down and sort through your loan portfolio to check its compliance with fair lending laws and regulations.What now?Don’t scream.  That’s a common first reaction among credit union executives – although perhaps some curse instead.  Let off a little steam if you wish. But know that there is preparation to be doneA first question on most minds: Why us?Getting selected for an examination does not mean a credit union is suspected of running afoul of fair lending laws.  Not at all. There is no presumption of guilt here.But the National Credit Union Administration is vague about what triggers an exam: “NCUA uses multiple factors to determine whether a federal credit union demonstrates the potential for higher fair lending risk which could lead to a fair lending exam or an off-site supervision contact, including Home Mortgage Disclosure Act (HMDA) reports, fair lending violations or complaints, general compliance risk, and other factors.” continue reading »last_img read more

first_img Comment Advertisement Coral BarrySunday 29 Mar 2020 8:51 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link4.5kShares Jovic has had a difficult debut season at Real (Picture: Getty)Mikel Arteta wants to sign Luka Jovic this summer if Real Madrid put the striker up for sale, according to reports.Jovic has landed himself in hot water with his club for breaking lockdown rules in Serbia after he was given permission to fly him during the coronavirus pandemic.Real is prepared to offload Jovic after less than a season at the club following a £50million transfer move last summer.Read the latest updates: Coronavirus news liveADVERTISEMENTChelsea and Tottenham tried to sign Jovic before he joined Real and the La Liga giants were going to offer the Premier League duo the chance to secure his signature.AdvertisementAdvertisementJovic has scored just twice in all competitions for Real this season, but the Daily Star claim Arteta is a fan of the 22-year-old.The Serb was one of the most prolific strikers in Europe when Real signed him and Arteta thinks Jovic is an excellent option to lead Arsenal’s frontline.With uncertainty surrounding the future of Pierre-Emerick Aubameyang, Arsenal have been tipped to sign another striker. Jovic cost Real big money last summer (Picture: Getty)Arteta likes to play Alexandre Lacazette in the central forward role, but the Spanish coach also thinks Jovic could take on that position at Arsenal. The Gunners are set to face competition from Chelsea and Tottenham who are in the hunt for new frontmen when the transfer window opens.Chelsea want someone to challenge Tammy Abraham, while Tottenham’s season has been derailed following an injury to usual No.1 Harry Kane.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityIt is currently unclear when the next transfer window will open as the Premier League aims to play postponed games during the summer.The coronavirus pandemic has forced football in Spain and the UK to be suspended and clubs are growing increasingly concerned about if the season will be finished.MORE: Chelsea to be offered Luka Jovic transfer after coronavirus self-isolation rowMORE: Manchester City convinced Arsenal leading push to have Champions League ban upheldFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram. For more stories like this, check our sport page. Arsenal boss Mikel Arteta orders transfer raid on Real Madrid for Chelsea target Luka Jovic Advertisementlast_img read more

first_imgEuropean pension funds have held initial talks on their class action lawsuit against the Lloyds Banking Group over the botched takeover of Halifax Bank of Scotland (HBOS) in 2008.Law firm Harcus Sinclair has amassed 6,000 claimants against the UK banking firm, including 300 pension funds and institutional investors from Canada, Europe, the UK and the US.The potentially £300m (€424m) class action suit is in reference to Lloyds TSB bank’s directors allegedly misleading shareholders into approving a takeover of HBOS despite the latter’s finances not being in order.Shareholders approved a takeover of HBOS in November 2008. However, the group now claims Lloyds TSB directors breached their legal duty in recommending the takeover, and in the information provided.Harcus Sinclair said the bank’s directors failed to disclose to Lloyds TSB shareholders that it made a secret £10bn loan facility to HBOS, or that HBOS received £25.7bn from the Bank of England and $18bn (€12.5bn) from the US Federal Reserve.The merged firm – renamed Lloyds Banking Group – then received significant bailouts from the UK government, which still retains a 21.8% stake.Claimants – which include the Royal Borough of Kensington and Chelsea Pension Fund, among other local government schemes – said the takeover was not in their best interest.They said it diluted holdings in combined banking group and included a “gross over-valuation” of HBOS.“It was a breach of the directors’ duties to the Lloyds TSB shareholders to permit the extraordinary general meeting to take place, on the basis of what they knew to be incomplete and misleading information, statements and advice,” Harcus Sinclair said.In a case management conference held yesterday, the claimants – whose lawsuit is being funded by Therium Capital Management – demanded that defendant Lloyds Banking Group reveal all legal advice provided to directors on the takeover.Claimants – which owned around 300m shares in Lloyds TSB at the time, estimated to be around 5% of market value – believe the bank’s legal advice would have included informing shareholders of the private loan facility and HBOS’s other financial assistance.Mr Justice Nugee, the presiding judge, ruled in favour of the claimants and said both parties must provide budgets to mitigate excessive costs in the case.The case is expected to continue, with pre-trial hearings this year, before beginning towards the end of 2016.The suit is among many class action cases launched against UK banks in the aftermath of the 2008 financial crisis.Five UK institutional investors, including the Universities Superannuation Scheme, are challenging the Royal Bank of Scotland over a £12bn share issue in 2008 used to fund the controversial takeover of Dutch bank ABN AMRO.last_img read more

first_imgEverton sold Lookman in the summer for a fee reported to be in the region of £22.5 million.It came after Lookman had spent a successful spell on loan in Germany at the end of the 2017-18 campaign. After that stint, Leipzig aggressively pursued a permanent deal. As reported by Sky Sports, Everton rejected a £25 million bid for the player.The hope was that Lookman could replicate his German form in England. However, with plenty of competition Lookman struggled under Marco Silva at Everton and eventually, Everton ended up selling him anyway.Everton will, therefore, be fully aware of how success on loan does not automatically equate to a similar run of form back at the parent club.At the same time, Everton appear to have a decision to make in the summer regarding the future of Jonjoe Kenny. The England under-21 international has been in fine form for Schalke since joining the German side on loan at the start of the season. Loading… As reported by the Daily Mail, his form has seen the Bundesliga side develop an interest in a permanent deal.Kenny’s form has also attracted the interest of other Premier League teams. Arsenal, Chelsea and Tottenham Hotspur are all credited with an interest in the 22-year-old, according to the Mail.Kenny will need to adapt to Carlo Ancelotti’s style whilst also convincing the Everton hierarchy to either sell a club legend in Coleman or not pay the permanent option fee on the World Cup winner Sidibe.Read Also:Everton fans celebrate Yobo’s appointment, want Alex Iwobi to improve under his guidanceWith Lookman still raw in the minds of the Everton decision-makers, it might just be the Toffees pull the trigger on Kenny while his market valuation is at an all-time high.FacebookTwitterWhatsAppEmail分享 Promoted ContentThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreWho Is The Most Powerful Woman On Earth?What Is A Black Hole And Is It Dangerous For Us All?6 Most Breathtaking Bridges In The World2020 Tattoo Trends: Here’s What You’ll See This Year9 Facts You Should Know Before Getting A Tattoo7 Train Stations In The World You Wish To Stay At LongerStunning Wedding Looks From Around The World8 Fascinating Facts About Coffee8 Ridiculously Expensive Things Bought By Keanu Reeves7 Universities Where Getting An Education Costs A Hefty PennyBest & Worst Celebrity Endorsed Games Ever Made Everton are still counting their loses over the selling of a prolific star, Ademola Lookman to a German side, RB Leipzig.Advertisementlast_img read more

first_imgBatesville’s Bicentennial Bison. You can see it in front of the memorial building.BATESVILLE, Ind. — Indiana’s Bicentennial finale is set for this weekend.Communities across the state are planning their own celebrations.There will be a big celebration in Indianapolis at the State Fairgrounds.The free event will take place on Sunday from 10:00 AM until noon.The towns of Batesville and Greensburg are also planning their own Bicentennial celebrations.Batesville invites the public to the Memorial Building at 11:30 AM on Sunday.The program will feature Mayor Mike Bettice and local torchbearers.Meanwhile, the Historical Society of Decatur County is hosting their celebration at the Historical Society Museum.The museum will host its annual open house on Sunday from 1 to 4 PM. The Historical Society will take a look at Indiana’s Bicentennial with a look back through local history.last_img read more

first_imgRelatedPosts Italy introduces compulsory virus testing for travellers from France Suarez agrees Atletico terms Nigeria records new COVID-19 infections, more deaths as figures rise to 57,242 Netherlands coach Ronald Koeman was admitted to hospital with a heart problem on Sunday, the daily De Telegraaf reported on its website.The 57-year-old was taken from his home by ambulance but after surgical intervention was in a stable condition, his wife Bartina told the newspaper. Koeman has been the Dutch coach for just over two years and helped the country to qualify for Euro 2020, which has been postponed to next year due to the coronavirus pandemic.The former international defender, who as a player won the European Cup with both PSV Eindhoven and Barcelona, managed Everton before he took charge of his native country’s national team.Tags: CoronavirusDe TelegrafNetherlandsPSV Eindhovenronald koemanlast_img read more

first_imgA Florida Keys teenager who is wanted for murder jumped in front of a moving vehicle on Thursday night in Islamorada, according to the Monroe County Sheriff’s Office.The driver ran over 17-year-old Daniel Weisberger, who is the prime suspect in the murder of his 14-year-old brother, Pascal, according to Adam Linhardt, a spokesman for the Monroe County Sheriff’s Office.Helicopters, tactical teams and K-9 units from the Sheriff’s Office and neighboring law enforcement agencies searched for Weisberger on Thursday morning and afternoon.Sheriff’s Office Spokesman Rick Ramsay says a neighbor heard a disturbance inside the family’s apartment around 4 a.m. About two hours later, the father, 43-year-old Ariel Poholek, came running out of the apartment and asked a neighbor to call for help.Ramsay explains that when the attack on the younger teen took place, the father tried to investigate, when he, too, was attacked.Update: Murder suspect injured after struck by vehicle on U.S. 1:— Florida Keys Sheriff (@mcsonews) May 7, 2020 Sheriff’s deputies arrived within two minutes of the receiving the call, but Daniel Weisberger had already fled by then.“The father relays he was held hostage in that room for approximately two hours while he had multiple injuries to his neck — the (older) son, still holding a butcher knife, would not let him leave,” Ramsay states.“His injuries were described as severe,” Linhardt wrote about the father.The younger brother was pronounced dead at the scene.Detectives are still investigating the crimes, while Florida Highway Patrol troopers are investigating the crash.last_img read more

first_imgCampus crime in 2014 declined slightly from previous years according to the Annual Security and Fire Safety report released Wednesday by the Department of Public Safety,  which contained crime data from both USC campuses for the past three years.According to the report, there were 31 sex offenses reported on or around the University Park Campus in 2014 including 18 cases of rape and 13 cases of nonconsensual fondling, down from 33 cases reported in 2013. Crimes reported under the Violence Against Women Reauthorization Act of 2013, including stalking and domestic violence, fell from 26 reports in 2013 to 17 last year.Vice President for Student Affairs Ainsley Carry said that since the University has implemented policies to make sexual assault reporting easier for students, he expected the number of reported assaults to increase before decreasing.“We want people to feel comfortable coming forward to report,” Carry said. “I hope that number reflects more people coming forward to report and fewer incidents of sexual assault.”Arrests for liquor law violations fell by half, from 15 reports in 2013 to seven in 2014. Alcohol related disciplinary referrals remained relatively constant with 555 reports in 2014, down from 563 the previous year.The report also showed a marked decline in drug violations, both arrests and disciplinary violations. There were 41 disciplinary violations for drug violations in 2014, down from 114 in 2013. The number of drug related arrests went from 40 to 18 over the same period.Carry said there was no change in University policy that may have contributed to the decrease in drug violations.Robberies declined from 17 cases in 2013 to 11 in 2014 while aggravated assaults increased from eight to 10. Grand theft auto instances fell sharply from 21 reports to six.The report is published annually to comply with the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, which requires colleges and universities that receive federal aid to report campus crime data.last_img read more