The activist fund with a taste for court action

first_imgMonday 4 April 2011 8:28 pm whatsapp Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Share KCS-content The activist fund with a taste for court action Show Comments ▼ Tags: NULL The hedge fund currently terrorising companies including National Express and Actelion is a fearsome opponent in boardroom battles.Elliott Advisors is the UK arm of Elliott Management, one of the oldest hedge funds in the world with $17bn (£10.5bn) of assets.Founded by Harvard law graduate Paul Singer in 1977, it has turned defending shareholder rights into an art form. It is also frequently termed a vulture fund thanks to its history of buying distressed debt and hauling the issuer through the courts to receive payment in full. Its targets notoriously include impoverished countries such as Peru and Congo-Brazzaville.Elliott is highly litigious and uses courts as a weapon to ensure companies and governments respect its claims on stock or bonds. In 2003, for instance, it successfully fought Proctor & Gamble over its takeover of hair care company Wella. P&G offered Wella shares to voting investors at a preferential rate while non-voting shareholders such as Elliott received a far poorer offer. Elliott sued the German financial regulator for approving the deal – forcing P&G to raise its offer.Elliott is happy to hold shares in its targets for lengthy periods – it has held National Express stock since 2009 – but always ends with a demand for change that will enable it to sell at a considerable profit. whatsapplast_img read more

Pretoria Portland Cement Co.Ltd (PPC.zw) 2010 Presentation

first_imgPretoria Portland Cement Co. Ltd (PPC.zw) listed on the Zimbabwe Stock Exchange under the Building & Associated sector has released it’s 2010 presentation For more information about Pretoria Portland Cement Co. Ltd (PPC.zw) reports, abridged reports, interim earnings results and earnings presentations, visit the Pretoria Portland Cement Co. Ltd (PPC.zw) company page on AfricanFinancials.Document: Pretoria Portland Cement Co. Ltd (PPC.zw)  2010 presentation Company ProfilePortland Holdings Limited, trading as PPC Zimbabwe, manufactures and markets quality cement and cement by-products for the construction industry in Zimbabwe, producing up to 1.8 million tons of cement per annum. Established in 1913, PPC Zimbabwe supplies customers in Zimbabwe, Botswana, Zambia and Mozambique. The company has three manufacturing plants that are regarded as the most modern operations in southern Africa; located in Colleen Bawn, Bulawayo and Harare. The company has interests in limestone mining, and manufacturing and distributing metallurgical-grade limestone, burnt lime and burnt dolomite; as well as the supply of ready-mix concrete, dry mortars and fly ash. Well-known PPC products available in Zimbabwe include SureBuild, Sureroad, Unicem and PMC. PPC Zimbabwe is listed on the Zimbabwe Stock Exchangelast_img read more

Kenya Airways Limited (KA.ug) HY2018 Interim Report

first_imgKenya Airways Limited (KA.ug) listed on the Uganda Securities Exchange under the Transport sector has released it’s 2018 interim results for the half year.For more information about Kenya Airways Limited (KA.ug) reports, abridged reports, interim earnings results and earnings presentations, visit the Kenya Airways Limited (KA.ug) company page on AfricanFinancials.Document: Kenya Airways Limited (KA.ug)  2018 interim results for the half year.Company ProfileKenya Airways Limited is the flag carrier airline of Kenya. It was wholly-owned by the government of Kenya until 1995 when the airline was privatised. Kenya Airways is now a public-private partnership with the largest shareholder being the government of Kenya (48.9%) and the balance owned by KQ Lenders Company 2017 Ltd (38.1%), KLM (7.8%) and private owners (5.2%). Kenya Airways offers domestic and international flights, ground handling services and handles import and export of cargo. Subsidiary companies of Kenya Airways include JamboJet Limited which provides local passenger air transport services, and African Cargo Handling Limited which provides cargo handling services. Kenya Airways Limited is listed on the Uganda Securities Exchangelast_img read more

Norhouse / Aaksen Responsible Aarchitecture

first_imgManufacturers: Dulux, Panasonic, Fumira, Jatilog, Roman Ceramics Project gallerySee allShow lessChaoyang Future School / CrossboundariesSelected ProjectsBright House / HAO DesignSelected Projects Share Lead Architects: Norhouse / Aaksen Responsible Aarchitecture Construction:ASEPDEV (Aesthetical in Engineering Process)Construction Team:Agusti Salman Farizi, Gun Gun Yuliansyah, Arif RahmansyahFurniture:JatilogVideo:QrimsonCalligraphy And Graphics:MonoponikCity:BandungCountry:IndonesiaMore SpecsLess SpecsSave this picture!Courtesy of Aaksen Responsible AarchitectureRecommended ProductsDoorsStudcoAccess Panels – AccessDorDoorsC.R. LaurenceCRL-U.S. Aluminum Entice Series Entrance SystemFiber Cements / CementsULMA Architectural SolutionsPaper Facade Panel in Leioa School RestorationDoorsGorter HatchesRoof Hatch – RHT AluminiumText description provided by the architects. Urban residential development increases rapidly with the advancement of life expectancy in urban areas. Aside from expensive land prices and low quality of life, it is not difficult to find dense settlements in the middle of the city. Most of those have no access to big vehicles, even though there is a road nearby.Save this picture!AxonometricLocated in a dense settlement with a narrow alley as the only access, precisely in Jalan Pahlawan, Bandung, West Java – Indonesia, NOR House is a residence of a couple, Sisca, and Ovian. The two-floor house was completed in early 2018. The name of NOR House itself is taken from their children, Adara Kaila Eleanor and Sophia Cyrilla Eleonora, who have the word nur or light in Arabic as part of their name.Save this picture!© KIESave this picture!Section ASave this picture!© KIEThe name inspired us to put the element of the sun into the design. Since millions of years ago, the sun consistently rises dawn and set in the early dusk. In Islam, the communication between humans and God is called the five times of obligatory ritual prayer in which the five times indicate the transition of the sun. The obligatory ritual prayer was also our inspiration to design a house with the sun and light as the narrative of the architecture.Save this picture!© KIEThe number of openings in the building maximizes the natural light and good air circulation. The use of artificial light, in the form of a hidden lamp and indirect lighting, accentuates the detail in some areas. The example is indirect light used on parahyba tree in the garden to emphasize its trunk standing upright as though it has pierced and made a hole in the main building mass. In the prayer room, a window was installed to make an impression as though it trimmed the main building’s mass. The window also provides the light during daytime. The strong lighting coupled with the word of Allah (God) on the window surface create the writing’s shadow in the prayer room’s interior.Save this picture!© KIEWith a total area of 105 m2, NOR House has a contemporary tropical architectural concept with white-colored, zinc-coated roof surface and facade. Its building mass and the white color make the NOR House very tidy and distinctive compared with the surrounding buildings when viewed from the air. For the building interior, ivory-colored ceramic combined with parquet flooring and white wall give a simple and clean touch in all residential area.Save this picture!© KIENOR House maximizes the space for its residents in two floors. The first floor has an area of 57 m2 consists of living room, dining room, kitchen, toilet, prayer room, drying room, and garden. The second floor, with an area of 48 m2, has a master bedroom, kid bedroom, and a bathroom. Ultimately, in addition, to address the needs of the owners and the challenges of dense settlement, NOR House presents the interpretation of connections among humans and the greatness of the Creator through its appreciation on sunlight that always accompanies us every day. Area:  104 m² Year Completion year of this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/889730/norhouse-aaksen-responsible-aarchitecture Clipboard Photographs:  KIE Manufacturers Brands with products used in this architecture project Projects CopyHouses•Bandung, Indonesia Houses Photographs Indonesiacenter_img Yanuar Pratama Firdaus, Gea Sentanu “COPY” “COPY” ArchDaily Norhouse / Aaksen Responsible AarchitectureSave this projectSaveNorhouse / Aaksen Responsible Aarchitecture CopyAbout this officeAaksen Responsible AarchitectureOfficeFollowProductsWoodGlassSteel#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesCibeunying KalerBandungIndonesiaPublished on March 01, 2018Cite: “Norhouse / Aaksen Responsible Aarchitecture” 28 Feb 2018. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogPartitionsSkyfoldVertically Folding Operable Walls – Zenith® SeriesVinyl Walls3MExterior Vinyl Finish – DI-NOC™ StoneShowerhansgroheShowers – Croma SelectDoorsRaynorGarage Door – Advantage SeriesConcreteSika3D Concrete PrintingSignage / Display SystemsGoppionDisplay Case – Bre-ClassSkylightsVELUX CommercialModular Skylights in Atelier Zimmerlistrasse OfficeWindowsswissFineLineSliding Windows in Villa LakesideSuspension SystemsMetawellAluminum Panels for Smart CeilingsGlassDip-TechDigital Ceramic Printing in Roofs & CanopiesSound BoothsFrameryMeeting Pod – Framery Q – Flip n’ FoldWall / Ceiling LightsAsaf WeinbroomLighting – Linestra 110 BrassMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Year:  Save this picture!© KIE+ 30Curated by Fernanda Castro Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/889730/norhouse-aaksen-responsible-aarchitecture Clipboard 2018 Architects: Aaksen Responsible Aarchitecture Area Area of this architecture projectlast_img read more

New development worker at Parkinson’s Disease Society

first_img Howard Lake | 18 March 2003 | News About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Marion Rodgers has been appointed as Development Worker, South East, with the Parkinson’s Disease Society.She will be supporting the work of the Society’s branches in Hampshire and the Isle of Wight, helping them to organise information days and public events. She was also look at forging relationships with other organisations, and developing the Society’s branch network within the area.The Society has Development Workers throughout the UK, and they play a key role in advising and supporting members of the 300 Parkinson’s Disease Society local branches. Advertisement  23 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis New development worker at Parkinson’s Disease Society Tagged with: Recruitment / peoplelast_img read more

2018 #UKCharityWeek launches today

first_imgMore information, including the campaign magazine is available on the UK Charity Week site, and people are encouraged to follow the #UKCharityWeek hashtag on Twitter, Facebook and Instagram.  160 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis10 Tagged with: Events fundraising events Melanie May | 3 December 2018 | News #UKCharityWeek founder, Lee Rayment said:“We want everyone to put their differences and their brand egos to one side to come together and get behind our nation’s charities. Whether you are an individual, a charity, a business or governmental organisation, this is the week to collectively say thank you to those people in society giving their all for their respective good causes.“No organisation is too big or too small. Charity comes in many forms and sizes, but the human race is one, let’s come together and proudly celebrate our efforts if only for a week.”Numerous charity fundraising and awareness events are taking place all across the country this week with charities also encouraging people to support them through events of their own with some themes for each of the days established to help, including Charity Big Bake, on 5 December, and Christmas Jumper Day on 7 December, with the first day a celebration of all things charity. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis10center_img 2018 #UKCharityWeek launches today Charities UK-wide are taking part in this year’s #UKCharityWeek, which starts today (3 December).#UKCharityWeek is always held within the first full week of December, which this year runs from 3-9 December. Partner charities for this year include Cure Leukaemia, Age UK North Tyneside, The Big Cat Sanctuary, and Noah’s Ark Children’s Hospice. It is sponsored by For Good Causes, with ambassadors including Stephanie Millward MBE, and Anna Kennedy MBE.Last year the campaign achieved 92,999,791 timeline deliveries, which it says made it the most successful charity social media campaign the country has ever had.  159 total views,  1 views today About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com.last_img read more

Journalist freed after finally agreeing to pay bail

first_img“Kuwait was the first Arab country to decriminalise press offences in 2006 and was the leading Middle Eastern country in the 2009 Reporters Without Borders press freedom index, but now more and more lawsuits are being brought against journalists because of internal political tension,” Reporters Without Borders said. Courts uphold newspaper’s closure, increase blogger’s jail term As Kuwait’s media legislation has decriminalised defamation, Al-Jassem maintains that he cannot legally be detained for refusing to pay bail in this case. New Cyber Crimes Law restricts free expression and targets online activists September 5, 2014 Find out more Al-Jassem told Reporters Without Borders on 1 October that he had also referred to the prime minister’s readiness to file lawsuits and his “fondness for the courts.” He added: “The prime minister knows he is in a tough spot domestically. He is trying to survive despite the absurd way he has handled things, and to this end he is trying to control the media. He owns four newspapers and two TV stations, and yet he is even ready to pay for favourable stories. I don’t need his money and I say what I think about Kuwaiti politics.” News to go further Follow the news on Kuwait January 21, 2016 Find out more After being held by police for 12 days at the headquarters of the criminal investigation department in Kuwait City, journalist Mohammed Al-Jassem appeared in court again this morning and was able to challenge the legality of his detention and the way the investigation has been conducted.At the end of a hearing of more than two hours, the court ordered his release on bail of 1,000 dinars (2,300 euros) and set another hearing for 10 December. This time he paid the bail and was released. He had previously refused to pay bail on the grounds that his detention was illegal.————————————-24.11.09 – Journalist held as a result of libel action by prime ministerKuwait’s prosecutor general yesterday ordered the police to continue holding journalist Mohammed Abdel Qader Al-Jassem at the headquarters of the criminal investigation department after he was take in for questioning the day before in connection with a libel suit by the prime minister and then refused to pay bail of 1,000 dinars (2,345 euros). Al-Jassem has asked his lawyer, Hammoud Al-Hajeri, to file a complaint accusing the prosecutor general of illegal detention. February 23, 2015 Find out more News Help by sharing this information Prime Minister Nasser Mohammed filed his libel action before prosecutor general Hamid Al-Othman on 2 September. It names Al-Jassem and Abdelhamid Da’ass, the editor of the daily Al-Alam Al-Yaoum, and concerns a 16 August article accusing the prime minister of encouraging religious tension in order to hold on to his job. Receive email alerts News Organisation KuwaitMiddle East – North Africa News “The 2006 press law reform abolished imprisonment for journalists but defamation actions are often being dealt with under the criminal code,” the press freedom organisation continued. “Some politicians are taking advantage of this to paralyse criticism. We urge the prosecutor general to release Al-Jassem.” December 3, 2009 – Updated on January 20, 2016 Journalist freed after finally agreeing to pay bail KuwaitMiddle East – North Africa When question by the prosecutor general a week later, the prime minister’s lawyer, Imad Al-Saif, maintained that Al-Jassem’s article had defamed his client. Defamation can still be punished under the criminal code by up to two years in prison and a heavy fine. Popular blogger charged with blasphemy RSF_en last_img read more

Editor of weekly harassed by court in libel case

first_img News January 20, 2005 – Updated on January 20, 2016 Editor of weekly harassed by court in libel case RSF calls for a fully transparent investigation after mine kills two journalists in Azerbaijan Receive email alerts “We’ll hold Ilham Aliyev personally responsible if anything happens to this blogger in France” RSF says AzerbaijanEurope – Central Asia News Help by sharing this information Follow the news on Azerbaijan News Reporters Without Borders today condemned an Azeri court for hounding an opposition weekly newspaper by ordering it to pay a 15,000 euros fine in a libel case or face criminal charges.Editor Elmar Husseynov, of the weekly Monitor, was told by a court in Nizami (Baku) on 18 January to pay the sum awarded three years ago for insulting the Azeri autonomous republic of Nakhitchevan (an enclave between Armenia and Iran) “This effort to put the paper out of business is part of a plan by the authorities to silence all dissident voices,” Reporters Without Borders said.The paper had been ordered to pay the fine on 19 October 2003 for “insulting the honour and dignity of the people of Nakhichevan” in an article comparing them to the Sicilian mafia. The case was brought by the republic’s representative in Baku, Hasan Zeynalov.The editor had refused to pay and the judge, Farhad Agamirzoyev, made the new order.The printing and distribution firm Gaya received an official but illegal order on 10 December last year to freeze all proceeds from the sale of Monitor.The plight of the opposition media in Azerbaijan sharply worsened last year, with their circulation falling by 10-15 %, partly due to official pressure. center_img June 4, 2021 Find out more June 8, 2021 Find out more AzerbaijanEurope – Central Asia to go further RSF_en Organisation News Russian peacekeepers deny foreign reporters access to Nagorno-Karabakh April 9, 2021 Find out morelast_img read more

US Crosses 1 Million Mark in COVID-19 Cases

first_img Community News Subscribe As new symptoms arise and the US infection number crosses 1 million, experts say they still have things to learn about the Coronavirus.The Centers for Disease Control and Prevention (CDC) expanded its list of possible symptoms of the virus to include: chills, repeated shaking with chills, muscle pain, headache, sore throat, and new loss of taste or smell.The new symptoms reflect the varying ways the virus continues to attack patients.“So far, researchers have been able to note enough mutations among COVID-19 lineages to track the movement of a particular type, from country to country, for example,” said the Pasadena Public Health Director Ying Ying Goh. “Because of these mutations, researchers can track where the virus came from by looking at how the genetic sequence matches. However, this does not tell us if there are mutations significant enough to cause new clinical symptoms or cause reinfection in someone who was already ill with COVID-19. In fact, we do not know if someone with COVID-19 can become re-infected again, or if they will likely be immune.”According to the World Health Organization, people infected in early hotspots such as South Korea and China, appear to have suffered a relapse of the disease.“I think that the larger the population infected, and the more data collection researchers do, the more we will know about COVID-19,” Goh said. “That is why there is now more information about the symptoms associated with the virus.”When asked how long it takes for doctors and scientists to understand a virus, Goh said it was a ‘tall order.’“We have known about influenza virus for a very long time,” she said. “But what we can learn about a virus depends on the technology we have. For example, from a quick search, it appears that the first viral genome was sequenced in the late 1970s. We started the Human Genome Project in 1990 and finished in 2003. Viruses mutate. Flu mutates enough for us to require a new vaccine every year, so there is always more to learn about viruses.”On Monday, the US passed a horrific milestone when officials announced that there have been 1 million cases of the virus in the United States, and more than 58,000 people have died.Los Angeles County Health Officials announced that 1,000 people have died locally.The increasing number of cases have forced officials to update their prediction model from 67,000 to 74,000 deaths by Aug. 4.County officials fear those numbers could skyrocket if the state reopens too soon.This past weekend, residents packed local beaches in Orange County, stoking fears that numbers could spike if people do not continue to practice Safer at Home orders and practice social distancing. EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Your email address will not be published. Required fields are marked * More Cool Stuff Community News US Crosses 1 Million Mark in COVID-19 Cases Despite 3 Million Cases Worldwide, There’s Still Much to Learn About the Coronavirus By DAVID CROSS Published on Tuesday, April 28, 2020 | 2:45 pm Community News faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes HerbeautyHe Is Totally In Love With You If He Does These 7 ThingsHerbeautyHerbeautyHerbeauty8 Easy Exotic Meals Anyone Can MakeHerbeautyHerbeautyHerbeautyThis Trend Looks Kind Of Cool!HerbeautyHerbeautyHerbeauty7 Things A Man Will Do Only If He Really Loves YouHerbeautyHerbeautyHerbeautyCostume That Makes Actresses Beneath Practically UnrecognizableHerbeautyHerbeautyHerbeauty15 Countries Where Men Have Difficulties Finding A WifeHerbeautyHerbeauty Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m.center_img CITY NEWS SERVICE/STAFF REPORT Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Business News STAFF REPORT First Heatwave Expected Next Week STAFF REPORT Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy 9 recommended0 commentsShareShareTweetSharePin it Name (required)  Mail (required) (not be published)  Website  Make a comment Top of the News Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

As Stocks Tumble, Lenders Take a Hit

first_imgHome / Daily Dose / As Stocks Tumble, Lenders Take a Hit Bank of America Federal Reserve Interest rates Janet Yellen Jerome Powell JPMorgan Chase Stock Market Wells Fargo 2018-02-05 David Wharton Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Headlines, Journal, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Dow Jones industrial average closed down 1,200 points on Monday, after having dropped 1,500 points earlier in the day. This came on the heels of a 666-point drop in the Dow last Friday. With the Standard & Poor’s index down in four out of the last five sessions and Nasdaq won the last six out of eight, what’s causing this level of investor skittishness, and what does it mean for the housing industry?The Washington Post throws the stock turmoil into stark relief, pointing out that the Dow “has swung more than 2,100 points in the last two sessions, a decline pushing more than 8 percent and shattering long-term momentum.” The Post cites changes at the Fed as one likely contributing factor, with new Fed Chair Jerome Powell having just taken over from the departing Janet Yellen. While Powell, who was officially sworn in on Monday, is widely expected to continue many of the cautious policy approaches championed by Yellen during her time in the role, a new Fed Chair can nevertheless contribute a level of uncertainty into the economic landscape.The Post cites investor concerns that Powell and the Fed will accelerate interest rate hikes, which could slow the economy. The Fed increased their benchmark interest rates to a range of 1.25 percent to 1.5 percent in December, but left them unchanged at last week’s meeting of the Federal Open Market Committee. Analysts expect another rate hike to come in March, following the first FOMC meeting under Powell, with several more rate hikes being widely predicted throughout 2018. Further interest rate hikes would drive up mortgage rates, which, when combined with widespread affordability and inventory issues throughout many parts of the country, could make the difference between many potential homebuyers choosing to purchase a home or stick with the rental market.In a video posted to the Fed’s website Monday, Powell said, “Today, unemployment is low, the economy is growing, and inflation is low. Through our decisions on monetary policy, we will support continued economic growth, a healthy job market and price stability.” Powell also stated his belief that the financial system is now stronger and more resilient than in the days of the housing crisis. “We intend to keep it that way,” Powell added. “My colleagues and I will remain vigilant, and we are prepared to respond to evolving risks.”During an appearance on CBS Sunday Morning, Yellen praised Powell, saying, “I’ve worked with Gov. Powell for five years, very constructively,” Yellen said. “He is thoughtful, balanced, dedicated to public service. I’ve found him to be a very thoughtful policymaker.”As one of Yellen’s final acts, the Fed announced on Friday that it would restrict Wells Fargo’s growth due to “widespread consumer abuses.” The Fed is limiting Wells Fargo from growing any larger than its total assets at the end of 2017 until such time as “sufficient improvements” have been made. In response, Wells Fargo announced that it would be replacing four directors by the end of the year. Shares of Wells Fargo stock fell 9.2 percent on Monday, as of this writing.During an appearance on CNBC’s Power Lunch, veteran banking analyst Dick Bove downplayed the impact of the Fed’s actions, saying, “There will be no reduction in the ability of this company to lend money, take in deposits, or operate the way they have historically.”Investors are likely also watching the yield on 10-year Treasury bonds. As the Post explains, “Bond yields are rising as the Federal Reserve trims its U.S. bond holdings. The U.S. Treasury is also having to borrow more money, partly because of the tax cuts, and issuing more debt tends to raise yields.”There are other potential landmines on the horizon as well. After a brief government shutdown followed by a stopgap agreement in late January, the government is once again poised to shut down unless the House and Senate can come to terms. Last week, the Congressional Budget Office announced that if the debt ceiling is not raised by mid-March, “the government would be unable to pay its obligations fully, and it would delay making payments for its activities, default on its debt obligations, or both.”David Kelly, Chief Global Strategist for JPMorgan Asset Management, told ABC News, “It’s like a kid at a child’s party who, after an afternoon of cake and ice cream, eats one more cookie and that puts them over the edge.”On Monday, Wells Fargo shares sank $5.91 to $58.16, a drop of 9.22 percent. Bank of America closed at $30.26, down 5.29 percent. JPMorgan Chase dropped 4.80 percent to close at $108.80. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Previous: Top 5 Cities to Rent and to Own a Home Next: Bracing for a Sea of Change in Mortgage Servicing Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Bank of America Federal Reserve Interest rates Janet Yellen Jerome Powell JPMorgan Chase Stock Market Wells Fargo As Stocks Tumble, Lenders Take a Hit Related Articles  Print This Post Share Save About Author: David Wharton Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago February 5, 2018 2,166 Views Subscribelast_img read more