Mining strength offsets worries over Greek deal – London Report BRITAIN’S top share index turned lower after touching a three-week high yesterday although it still outperformed Eurozone shares with strength in the mining sector insulating the index from the Greek debt standoff.The blue-chip FTSE 100 index hit 6,873.43 in morning trade, its highest level since June 4.It turned lower to trade up just 9.93 points, or 0.2 per cent, at 6,844.80 points by the close, after Greece said that international lenders had rejected its latest proposals to avert default.With firmer commodity prices supporting mining and energy stocks and a rally in retailers, the index outperformed euro zone indexes, which traded lower.Miners were in demand, with the UK sector index rising 1 per cent, tracking rises in major industrial metals such as copper and aluminium.“A rise in metals prices and recent data showing an improvement in Chinese manufacturing are providing a tailwind to the market, but investors will continue to be cautious as we haven’t yet seen a firm direction for commodity prices,” said Keith Bowman, equity analyst at Hargreaves Lansdown.The UK oil and gas index gained 1.5 per cent, the top sectoral gainer, after oil prices rose on hopes for stronger-than-expected US crude demand, while doubts over the prospect of reaching an agreement on Iran’s nuclear programme by a 30 June deadline eased oversupply concerns.Royal Dutch Shell rose 2.3 per cent, also benefiting from a target price upgrade from Deutsche Bank, who said that its dividend was sustainable and that they expected a deal to buy BG to be completed.Investors also showed interest in retailers after a positive sector note from Societe Generale. J. Sainsbury rose 2.3 per cent to 276p, the top gainer in the FTSE 100 index, after the bank raised its stance on the stock to “buy” from “hold” and lifted its target price to 315p from 260p.“We think that the group’s profile is more resilient than many fear, thanks to its strong differentiation (clear focus on quality and in-store services) and efficient marketing policy,” Societe Generale analysts said in the note. Shares in fellow grocer Morrisons rose 2.6 per cent.Sage Group was the biggest faller, down 6 per cent, after it said it would cut its general and administrative costs to reallocate funds to investment plans. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailInvestment GuruRemember Cote De Pablo? Take A Deep Breath Before You See Her NowInvestment GuruMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesComedyAbandoned Submarines Floating Around the WorldComedyzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorEliteSinglesThe Dating Site for Highly-Educated Singles in ScottsdaleEliteSingles Share whatsapp whatsapp Express KCS Wednesday 24 June 2015 8:25 pm Show Comments ▼ Tags: NULL
National Technology Correspondent Casey covers the use of artificial intelligence in medicine and its underlying questions of safety, fairness, and privacy. He is the co-author of the newsletter STAT Health Tech. Kate Sheridan Departure of top Haven executive creates void at a crucial stage Business Casey Ross Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED Jack Stoddard left Haven after eight months as its chief operating officer. Businesswire By Casey Ross and Kate Sheridan May 17, 2019 Reprints Log In | Learn More About the Authors Reprints Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Tags BostonHealth ITinsurance [email protected] [email protected] General Assignment Reporter Kate covers biotech startups and the venture capital firms that back them. STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Jack Stoddard was the executive who understood how technology can fix health care services. He was a crucial early hire for Haven, the company formed by Amazon, Berkshire Hathaway, and JPMorgan Chase to lower costs and improve medical services for employees.But Stoddard’s departure this week, after only eight months as Haven’s chief operating officer, is a tough blow for a company still getting its legs underneath it in a cutthroat and complicated industry, business experts said. What is it? @caseymross @sheridan_kate What’s included? GET STARTED
Electric Picnic RELATED ARTICLESMORE FROM AUTHOR Twitter Electric Picnic By Alan Hartnett – 23rd May 2020 Facebook WhatsApp Pinterest TAGSCoronavirusCovid-19 Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Twitter Pinterest Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role Facebook Home News BREAKING: 13 more Coronavirus deaths and 76 new cases as 2 metre… News 1,604 people have now died from Coronavirus in Ireland – an increase of 13 from yesterday.Not all of these people passed away today – this is the number that were reported to the Department of Health today.These people will have passed away in recent days and not just today.While there has been a total of 76 new cases of Coronavirus have been diagnosed in Ireland today.This is an increase on the 24,506 cases from yesterday and takes the overall total to 24,582.Today’s data from the HPSC, as of midnight, Thursday 21 May (24,451 cases), reveals:· 57% are female and 43% are male· the median age of confirmed cases is 48 years· 3,211 cases (13%) have been hospitalised· Of those hospitalised, 393 cases have been admitted to ICU· 7,813 cases are associated with healthcare workers· Dublin has the highest number of cases at 11,830 (48% of all cases) followed by Cork with 1,420 cases (6%) and then Kildare with 1,387 cases (6%)· Of those for whom transmission status is known: community transmission accounts for 60%, close contact accounts for 38%, travel abroad accounts for 2%Taoiseach says 2 metre social distance is here to stay Taoiseach Leo Varadkar has reaffirmed that the two-metre social distancing rule “stands”, and there has been “no change” to the public health advice.Mr Varadkar made the remark this morning after it was revealed that several Cabinet ministers advocated yesterday for the adoption of World Health Organization guidance, which states that a one-metre distance is considered to be safe.See Full Report HereImportant information Symptoms of Covid-19 include:CoughShortness of breathFeverBreathing difficulties.Further resources:The HSE: Official advice on the coronavirus in Ireland. This is being updated based on the number of confirmed cases and how the virus spreads in Ireland.The Department of Foreign Affairs: Official advice on where to avoid travelling to. Also a resource for those who are abroad.The World Health Organization (WHO): The UN agency on global public health publishes statements and daily situation reports based on the latest data.European Centre for Disease Prevention and Control (ECDC): The EU agency on the number of cases, deaths and how it’s spreading in Europe.The Johns Hopkins University map: A heat map of the confirmed cases across the world.A helpline for older people who are concerned about the coronavirus has been launched by Alone. The number is 0818 222 024, and it’s open Monday to Friday, 8am-8pm.SEE ALSO – WATCH: Young Laois boy takes on the ‘Patience Challenge’ and smashes it WhatsApp News BREAKING: 13 more Coronavirus deaths and 76 new cases as 2 metre social distance rule set to stay Previous articleWomen on maternity leave ‘being penalised’ says local senatorNext articleMoment in Time: New dawn for Timahoe NS in 2008 Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. Electric Picnic organisers release statement following confirmation of new festival date
News North Korea’s network of General Markets continues to proliferate while the leadership collects fees from vendors. Recently, the authorities have ramped up their pursuit of those running cottage industries from within their own homes, illustrating the increasingly important role these funds play in sustaining the regime. Since 2012, the North Korean authorities have sought to expand the number of market stalls across the country in order to bring in more revenue for the regime. The markets have even been permitted to remain open on national holidays such as Kim Il Sung’s birthday, something that would have been deemed unacceptable in the past.“Ministry of People’s Security (MPS) personnel have been visiting residents’ homes with the head of the People’s Unit and threatening them, saying, ‘You will be arrested if you continue to do business at home from April; only sell in the markets.’ Merchants who refuse to follow or complain are threatened with being handed over to the MPS,” a source in South Hamgyong Province told Daily NK on March 7.A source in Ryanggang Province added, “The officers are visiting private homes that have previously been used for business in some regions, repeatedly telling them to do their business at the markets.” To catch vendors avoiding fees, the General Market management offices are working in conjunction with district administrative bodies to compile relevant data for each MPS unit in a given area. The steady increase in home-based entrepreneurs has risen in tandem with the proliferation of state-sanctioned General Markets. Home business has its merits because people can avoid paying fees to the market management office and also cut transport costs.This is especially true in the more destitute provincial regions. For example, a separate source in Ryanggang Province reported that in some General Markets in the province, approximately one-third of the stalls are vacant due to the prevalence of active home businesses.“Residents [who are confronted by MPS officials in their homes] complain that they should receive state rations if they are prohibited from selling at home. The officials respond that they should cease ‘trying to turn a profit only for themselves.’ ‘Just pay the [market fees],’ they say, ‘and you’re free to do as you please,’” she explained.“MPS officials keep trying to appease them by reiterating that doing business at the market is entirely permissible, but for many, it just feels like another form of exploitation [at the hands of the regime].” By Kang Mi Jin – 2017.03.14 9:23pm RELATED ARTICLESMORE FROM AUTHOR Facebook Twitter North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) SHARE Cottage industries under fire as regime seeks to boost revenue NewsEconomy There are signs that North Korea is running into serious difficulties with its corn harvest North Korean merchants trading in Chinese renminbi at Rajin Market in North Hamgyong Province. Image: Daily NK US dollar and Chinese reminbi plummet against North Korean won once again Kang Mi JinKang Mi Jin is a North Korean defector turned journalist who fled North Korea in 2009. She has a degree in economics and writes largely on marketization and economy-related issues for Daily NK. Questions about her articles can be directed to [email protected] News News
Related news S&P/TSX composite hits highest close since March on strength of financials sector Sunny Freeman Share this article and your comments with peers on social media Facebook LinkedIn Twitter The Canadian dollar shed 0.75 of a cent to 100.03 cents US after earlier falling below parity as investors retreated to the perceived safety of the greenback. Investors took in disappointing data on Canadian retail trade and employment insurance claims from January and a report showing an improving jobs situation in the U.S. along with the weak manufacturing data from China and Europe. “Now it really is all about China,” as fear of European debt contagion fades to the background, said Allison Mendes, a money manager at Manulife Asset Management. HSBC said Chinese industrial activity dropped to a four-month low in March. A similarly weak eurozone survey from financial information company Markit only added to concerns. Earlier this week, soft Chinese housing data and a warning from miner BHP Billiton stoked concerns about the outlook in the world’s second-largest economy, which has shored up the global economy over the past few years. “With that brings the potential for additional earnings downgrades and that’s also going to continue to drive the rotation of the commodities stocks and we’re continuing to see that rotation into other sectors of the markets,” Mendes said. Gold bullion lost $7.80 to US$1,642.50 an ounce, while copper fell eight cents to US$3.77 a pound. Oil for May delivery was down $1.92 to US$105.35 on the New York Mercantile Exchange. The energy sector was the biggest decliner on the TSX, down, two per cent with shares in Canadian Natural Resources (TSX:CNQ) down $1.17 cents to $33.80. The mining sector was down 1.8%, with shares in Teck Resources (TCK.B) off 65 cents at C$35.05. The main TSX index is skewed toward the energy and materials sectors, which have taken a hit since China announced it wants to focus future growth on consumer spending rather than infrastructure building — meaning a decline in demand for materials, Mendes said. That’s why the TSX could continue to underperform the U.S. indexes this year, as the U.S. markets are less weighted toward resource stocks and have a bigger exposure to retail and consumer staples with global reach, she added. Meanwhile, Statistics Canada said the number of people receiving regular employment insurance benefits increased by 2.3% or 12,400 in January to 561,100. In another report, it said retail sales rose a modest 0.5% against expectations for a 1.8% gain, with sales excluding autos falling 0.5%. However, the Conference Board of Canada said consumer confidence continued to rise in March, its third consecutive month of gains. The board’s index of consumer confidence was up 4.3 points to 79.5, but most of the gains in March were due to a single factor — attitudes towards major purchases. Wall Street also closed lower on anxiety over China’s slowing growth, with the Dow Jones industrial average falling 78.5 points to 13,046.1, the Nasdaq index down 12 points to 3,063.3 and the S&P 500 index down 10.1 points to 1,392.8. The U.S. Labour Department said Thursday that weekly applications dropped 5,000 to a seasonally adjusted 348,000, the lowest level since February 2008. The four-week average of applications, a less volatile measure, dipped to 355,000. That’s also a four-year low. The Conference Board in the U.S. said its measure of future U.S. economic activity rose 0.7% in February. The increase pushed the index to its highest point since June 2008. U.S. President Barack Obama announced he would order federal agencies to expedite the approval process for the southern leg of TransCanada’s (TSX:TRP) $7.6-billion Keystone XL pipeline. The company’s shares added 76 cents to $43.56 in early trading on the TSX. The announcement came just a few weeks after Obama rejected the entire length of Keystone XL, a pipeline that would transport Alberta oilsands bitumen from the northern reaches of the province through six U.S. states to Texas. The president said there was not enough time to review a new route around a crucial aquifer in Nebraska in order to meet a tight deadline imposed by congressional Republicans. Meanwhile, Canadian earnings season has largely come to a close, but there was a positive report from one of the country’s fastest growing companies. Lululemon Athletica Inc. (TSX:LLL) posted net income of US$73.5 million or 51 cents per share for the three months ended Jan. 29, beating analyst expectations by two cents per share. That compared with earnings of $54.8 million or 38 cents per share in the year-earlier period. However, it also revised its 2012 earnings guidance to a range of $1.50 to $1.57 cents per share, lower than what analysts had been expecting. Lululemon stock added $2.44 to $74.95. The Ontario government has selected an SNC-Lavalin (TSX:SNC) consortium as the preferred bidder to build and maintain the first phase of the eastern extension of Highway 407. Shares in the company shed five cents to $38.60. Iamgold Corp. (TSX:IMG) said it’s business as usual at its joint venture mines in Mali despite a military coup in the country’s capital city. Shares fell 16 cents to $13.17. And Canadian Pacific Railway Ltd. (TSX:CP) has included Pershing Square Capital Management’s Bill Ackman in its recommended director nominees in its proxy circular. Ackman wants to replace CEO Fred Green. CP shares fell 37 cents to $78.16. Keywords Marketwatch TSX gets lift from financials, U.S. markets rise to highest since March Toronto stock market dips on weakness in the energy and financials sectors The Toronto Stock Exchange closed with a big double-digit drop Thursday as resource stocks sank on reports of slower growth in the eurozone and China, fuelling fears that demand for Canadian commodities will shrink. The S&P/TSX composite index fell 74.7 points to 12,361.8, with the energy, mining and materials sectors leading the way lower. The junior TSX Venture Exchange was down 36.9 points to 1,540.8.
Share this article and your comments with peers on social media Lauren Krugel Keywords Oil Facebook LinkedIn Twitter Three quarters of oil and gas sector could be displaced in move to cut emissions OPEC and allies to slowly turn on the taps Related news Global GDP forecast gets big boost from U.S. stimulus: Fitch From Alberta oilfields to Bay Street boardrooms to the gas station on the corner, the precipitous drop in crude prices is expected to have far-reaching impacts across the country heading into 2015, making it The Canadian Press Business News Story of the Year. The abrupt turnaround in oil markets was chosen by half of the 50 editors and news directors across the country who participated in the annual survey. In explaining their pick, many respondents noted the story’s ripple effects beyond the oilpatch. Richard Dettman, business editor at News 1130 in Vancouver, said the halving in crude prices over a six-month span created a “gusher of stories” — the hit to federal and provincial government coffers, the plunging loonie and the benefit to consumers, to name a few. Lynn Moore, assistant city editor, business at the Montreal Gazette, highlighted several ways in which oil’s decline will reverberate across Canada. “A sustained period of low oil prices will throw a big wrench into the works of the Canadian economy and collective psyche. Beyond the shifting fortunes of governments and companies that have benefited from high oil prices — or suffered from them — the change will surely play a role in climate-change concerns, pipeline expansions and all manner of consumer choices, notably air travel and vehicle purchases. Investors, as well as governments, may also be more interested in portfolio diversification.” After hitting US$107 a barrel around mid-year, the closely watched U.S. benchmark crude plunged steeply throughout the latter half of 2014. The drop intensified in late November when the Organization of Petroleum Exporting Countries, facing increasing competition from surging U.S. shale deposits, chose to maintain its output rather than put a floor under prices. By the end of December, West Texas Intermediate crude was at its cheapest since the Great Recession, closing Monday at under US$54 a barrel. From the vantage point of consumers, it’s largely a good-news story. The price-tracking website Gasbuddy.com announced earlier this month that the national average for a litre of gasoline had plunged below a dollar for the first time in four and a half years. “The reality is, outside of the oil and gas industry, the implications of a dramatic drop of the oil price serve as a massive stimulus to the economy,” said Barry Munro, leader of consulting firm EY’s Canadian oil and gas practice. On a gloomier note, the governments of oil-producing provinces are facing big revenue shortfalls as taxes and royalties from the energy sector shrink. The Toronto Stock Exchange, heavy on energy stocks, has taken it on the chin. Budgets throughout the oilpatch will be thinner in 2015, with most firms choosing to shore up their balance sheets rather than spend big on new projects. Some are slashing dividends. Troubled Calgary-based explorer Talisman Energy, which was close to hitting a financial wall in the face of plunging crude, agreed earlier this month to be taken over by Spanish energy giant Repsol in a US$13-billion deal, including debt. Observers expect to see more such deals as struggling energy firms seek an exit strategy. There are differing views on how sustained the latest rout will be. Munro calls it a “new price paradigm” triggered by the massive shift in the U.S. energy equation. Oil deposits once thought inaccessible are being tapped with fracking technology, enabling the U.S. to rely on less imported crude to meet its own energy needs. “I believe that structural changes are underway in the oil and gas business as we move from this world of scarcity to abundance,” said Munro. Edward Jones analyst Lanny Pendill, on the other hand, sees the imbalances in oil markets sorting themselves out over the next several months, with prices averaging between US$75 and US$95 in the long term. The latest slowdown in activity should curb supplies to the point where prices eventually start to firm up again, he said. In other words, as the oft-repeated oilpatch cliche goes, the cure for low oil prices might just be low oil prices. The latest oil downturn is not expected to be as painful as the last one, which was coupled with global banking crisis and frozen credit markets, said Pendill. “I think people have short-term memories and what they’re failing to remember is we went through a much tougher test back in ‘08, ‘09.” The business news story that garnered the second-most votes also hit on an energy theme: the challenges facing new pipelines that aim to carry Alberta crude to coastal waters, and from there lucrative global markets. Of the 18 votes for pipelines, the lion’s share were from news outlets based in Quebec, where pipeline proposals by both Enbridge Inc. (TSX:ENB) and TransCanada Corp. (TSX:TRP) to move western crude eastward though the province grabbed headlines. In March, Enbridge got the green light from the National Energy Board to reverse the flow and carry more crude in its Line 9 pipeline between southwestern Ontario and Montreal. Though work on that project is complete, the NEB has said it will not allow Enbridge to open the pipeline until it’s convinced water crossings will be protected in the event of a spill. Meanwhile, TransCanada filed an application this fall to build what would be the largest project in its history. The $12-billion Energy East pipeline between Alberta and New Brunswick aims to connect western crude with eastern refineries and new markets across the Atlantic. It would make use of under used natural gas pipe already in the ground for about two thirds of the way, with new pipe being constructed in Quebec and New Brunswick. Five survey participants chose Burger King’s acquisition of iconic Canadian coffee and doughnut purveyor Tim Hortons as the top business story of the year. One vote was cast for the projected federal surplus for 2015-2016 and what that means heading into an election year. For Dave Barry, news director at CKPG – Radio & TV in Prince George, B.C., the biggest business news story of the year wasn’t one of the options presented by The Canadian Press: the Tsilqhot’in Supreme Court ruling in June, which recognized for the first time aboriginal right and title over a specific tract of land in the B.C. Interior. “The landmark ruling is a game changer for First Nations and natural resource industries in British Columbia and beyond,” he said.
Keywords RegtechCompanies British Columbia Securities Commission As tech’s role in compliance grows, so do concerns: FSB The British Columbia Securities Commission (BCSC) will sponsor a regulatory technology (regtech) hackathon planned for later this month in Vancouver. The one-day event will be part of a conference hosted by the National Crowdfunding Association of Canada (NCFA) on Nov. 28. Singapore’s financial regulator invests in innovation The competition will focus on several major areas where tech-driven solutions could help industry firms meet their regulatory requirements, or improve the quality of regulation itself, including: > using smart contracts and blockchain technology in equity crowdfunding; > improving the quality, efficiency and integrity of customer due diligence processes; > enhancing know-your-client (KYC) processes; > deploying the blockchain in investor protection and literacy initiatives; and > creating solutions to monitor and track developments in securities regulation and their impact on registration and compliance requirements. Submissions will be judged based on innovation, user experience, pitch, and viability, the BCSC says in its announcement. “The BCSC is a strong supporter of industry-led innovations and solutions. We are excited to be a part of this event, because we believe it has the potential to generate some truly novel and exciting ideas to help advance regulatory technologies,” says Mark Wang, director capital markets regulation, BCSC, in a statement. “We encourage entrepreneurs and regulatory experts, innovators, data analysts, designers, and developers to join us in helping discover and launch some amazing B.C. regtech-focused projects,” adds Craig Asano, founder and CEO, NCFA. The Ontario Securities Commission hosted a regtech hackathon last year in Toronto. Read: OSC considering use of emerging technologies Related news BIS names finalists in regtech hackathon Share this article and your comments with peers on social media Facebook LinkedIn Twitter
Tourism events to drive local economies Another cash lifeline is being rolled out to the regions after the approval of funding towards a wide range of events and activities to stimulate domestic tourism.Contracts have now been signed with all nine regional tourism groupings to enable the $50 million Regional Events Fund to be distributed around the country.“Event organisers and tourism operators from Northland to Southland will benefit from the events outlined in the plans from their regional organisations,” said Tourism Minister Stuart Nash.“Events drive visitors, which brings economic spin-offs across the accommodation, hospitality and wider tourism and retail sectors. The Regional Events Fund was part of the government’s $400 million Tourism Recovery package.“As well as stimulating local economies, the Regional Events Fund will also strengthen regions’ event management expertise and event strategy development,” said Stuart Nash.“Before COVID19 around 60 percent ($24 billion) of tourism spending was from domestic travellers getting out and experiencing their own backyard. Kiwis also spent a further $9 billion on overseas trips every year. We are working to catch a portion of that spending while our borders remain closed to keep us safe from the global pandemic.“Recent research by Tourism NZ also highlighted that a regional event, such as a festival, concert, exhibition, sports fixture, or food and beverage experience, is a major drawcard for Kiwis planning a domestic holiday.“Now that tourism events funding has been approved to all regions, each regional grouping can get on with the job of planning and putting their proposal into action. Regions decide how to spend their own funds and will collaborate to avoid competing against each other.“The first investment plan was approved in December, which confirmed $3.75 million for four regional tourism organisations collaborating as the Thermal Explorer Highway group.“Already the Southern Lakes group, which received $8.5 million, is calling for tourism operators to apply for support from their contestable fund. This means there are even more reasons to visit Queenstown, Wanaka, Central Otago and Fiordland.“Northland and Auckland, which received the largest investment, will use their $19 million by allocating funding for significant major and business events that will supplement existing programmes and strategies across Auckland and Northland.“Foodies might find themselves flocking to Hawke’s Bay as the region aims to develop a seasonal calendar for food-focused events.“Wellington and Wairarapa are also working together to give Kiwis more reasons to visit year round. Nelson and Marlborough are looking to increase visitor numbers by offering multi-day events.“Overall, we can expect to see a range of exciting activities and events to tempt New Zealanders to travel between regions from autumn onwards. Work to support and rebuild the tourism and hospitality sectors remains ongoing.“The Government is investing heavily in both increased promotion of domestic tourism, and direct support to tourism businesses to help drive the economic recovery,” Mr Nash said.The Regional Events Fund funding is allocated to nine groups of Regional Tourism Organisations based on each region’s share of international visitor spending prior to COVID19.Each group submitted an investment plan outlining their target audiences, how funding would stimulate visits from outside their region, and how they will collaborate rather than compete with other regions.An overview of the Regional Events Fund investment plans will be available on each regional group’s website. More information and links to these websites can also be found on MBIE’s Regional Events Fund webpage.Regional allocations are as below:Northland & Auckland marketing alliance: Auckland Unlimited, Northland Inc.$19 millionThe Regional Events Fund (REF) will be used to develop a significant programme of Major Events and Business Events that supplement existing programming and strategies to drive economic recovery in the region.The REF will make targeted investment in strategically relevant events, develop growth plans with events over the period of the fund, and provide an opportunity for the event sector to propose new opportunities through contestable funds.Thermal Explorer Highway marketing alliance: Destination Rotorua, Destination Great Lake Taupō, Visit Ruapehu, Hamilton & Waikato Tourism$3.75millionThe region is working together to create a contestable fund to focus on developing, securing or enhancing new and existing events to become long term sustainable “iconic” or “anchor” events for the regions. It will also support capability development of the wider ecosystem of events in the Thermal Explorer area.Pacific Coast Highway marketing alliance: Western Bay of Plenty Tourism and Visitors Trust, Hawke’s Bay Tourism, Trust Tairāwhiti, Destination Coromandel$2.00millionAs each of the sub-regions are at differing stages with their event strategies, funding will be split based on international visitor spend to the year ending January 2020 and utilised to support each RTOs goals and key focus areas.Destination Coromandel will build a stronger calendar of eventsTourism Bay of Plenty is developing the region’s major events strategy and strengthening a calendar of regional eventsTairāwhiti Gisborne aims to use events as a lever to grow visitor spend over the next five yearsHawke’s Bay Tourism aims to enhance their current offering and support new activations to develop a seasonal calendar of food-focused eventsWestern North Island marketing alliance: Venture Taranaki, Whanganui & Partners, Central Economic Development Agency$1.00millionThe funding is being allocated across the regions to determine their own complementary focus areas to drive visitation through an enhanced events offering.Taranaki is concentrating on event development, ‘supercharging’ existing successful events and continuing support for events affected by COVID-19.Manawatu is focusing on building capability and capacity to deliver existing strategies, supercharging events that build on key regional strengths and developing one key iconic event for the region.Whanganui is strengthening relevant existing events and developing one new iconic event, primarily through a contestable fund.Wellington & Wairarapa marketing alliance: WellingtonNZ, Destination Wairarapa$3.5millionThe Regional Events Fund Investment Plan will support the goals of the region by;Strengthening the annual calendar of events across the region that complements the existing events sector, providing the New Zealand market with more reasons to visit year-round.Exploring new ideas through event development and feasibility that showcase the region’s best assets and continues to hold the region’s position as a leader in live experiences.Strategically investing in events to maximise the economic, reputational, and social benefits to the region.Nelson & Marlborough marketing alliance: Nelson Regional Development Agency, Destination Marlborough$1.5millionThe fund will be used to expand existing events and develop new opportunities. It will drive visits for multi day events, and leverage local strengths and competitive advantages for this region.Events may work together to create a ‘total package’ around a central theme for a multi-day event, leveraging off each other and generating a more attractive proposition for tourists. An accelerator programme will also support event organisers, lift capability and build sustainable legacy events.Canterbury & West Coast marketing alliance: ChristchurchNZ, Venture Timaru, Hurunui Tourism, Development West Coast, Destination Kaikōura, Mackenzie Tourism$7millionThe tourism investment will be used to develop and grow a focused portfolio of events that attracts visitors throughout the year. The tourism events will be designed to express the spirit of the region and its people, and leave a positive legacy for its community. It is also key opportunity to enhance regional collaboration.The key focus areas are:Showcase the region and encourage collaboration on any shared event themes and regional strengths such as food & wine, agriculture, adventure, wildlife, culture, as well as business events and family friendly eventsCapability building, so that events are set up in a way to successfully attract visitors and deliver an increased contribution to the regional economiesIdentify synergies and intra-regional leverage opportunities with new or existing events that can complement touring routes within the regionCollaborative programming of events across the region.Southern Lakes marketing alliance: Destination Queenstown, Lake Wanaka Tourism, Tourism Central Otago, Destination Fiordland$8.5millionThe key focus of the Southern Lakes funding will be to ensure tourism events bring maximum economic benefit to the region, and make the most of tourism assets and venues. It will address a current lack of sponsorship and domestic visitors from outside the region, to help compensate for the lack of international visitors. This supports the immediate goal of supporting the wider business community and local event operators and suppliers who have felt the full impact of border closures. This aligns with longer term strategic goals to develop the region as an event friendly destination that encourages and supports the development of a balanced portfolio of events that reinforce key economic, community and strategic directions of the region.Pure Southern Land marketing alliance: Enterprise Dunedin, Great South, Tourism Waitaki, Development Clutha$1.5millionThis group aim to stimulate new domestic visitors travelling to their regions to attend an event. There is a range of suggested support for existing events that might need support to grow domestic visitor numbers, new events that fill a potential gap in the market, or support for the development of new event strategies.The key focus areas for this group include investment for:Premier Events (new and existing)Major events (new and existing)Business Events (new and existing)Eligible Community Events not otherwise fundedDeveloping Regional Event Strategies Developing and supporting events across the calendar year and seasons including building capability.Sub Total: $47.75millionTRENZ Conference: $2.00millionFund management: $0.25millionTotal fund: $50.00million /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Auckland, Bay of Plenty, Canterbury, Coromandel, Gisborne, Government, Hamilton, Marlborough, New Zealand, Northland, NZ, Queenstown, southern, tourism, Wellington, West Coast, Whanganui
OICAC completes investigation into alleged unsatisfactory conduct by NTG public officers Office of the Independent Commissioner Against CorruptionThe Office of the Independent Commissioner Against Corruption (OICAC) has completed an investigation into a Northern Territory Government procurement and has made no findings of improper conduct.The OICAC commenced an investigation into the conduct of public officers in a Northern Territory Government department following allegations that those officers may have engaged in unsatisfactory conduct while undertaking a select tender procurement.The investigation found that there was insufficient evidence of unsatisfactory conduct, but that the public officers had failed to adhere to best practice and that Northern Territory Government procurement guidelines were either not fit for purpose and/or poorly understood by public officers.Independent Commissioner Against Corruption Kenneth Fleming QC said, “Procurement is an area of significant risk for the Northern Territory Government. Approximately 20 percent of reports to my office concern procurement.“Given that the Northern Territory Government procures $1 billion of goods and services annually, there is a serious risk of improper conduct if fraud and corruption controls; and procurement legislation, policies and rules are not fit for purpose, out of date, or not complied with.”The OICAC has made a number of corruption prevention recommendations around procurement reform.The matter is now closed and the OICAC will not take any further action.icac.nt.gov.au/publications /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:AusPol, Australia, Commissioner, corruption, fraud, Government, investigation, legislation, Northern Territory, prevention, reform
Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” Created with Raphaël 2.1.2Created with Raphaël 2.1.2 Matthew Riese’s DeLorean-replica hovercraft eBay Trending in Canada ‹ Previous Next › Earlier this year, race car driver Daniel Abt smashed a world record for speed while driving backwards. Now, he’s making headlines again, this time hopefully with fewer resulting neck cramps. His latest feat: completing the most perfect donut we’ve ever seen. We could describe it in words, but we’d just be going in circles. Watch the video for yourself here. London is the supercar capital of the world, according to InstagramCreated with Raphaël 2.1.2Created with Raphaël 2.1.2The lobby of the hyper-exclusive FFF Automobile shop/sales centre is adorned with over $3.1 million dollars worth of supercars in Beijing on Wednesday, April 16, 2014. FFF is located in a nondescript brick garage building on a grungy street in Beijing. The exact address is not easily available to keep the shop a secret from those without the means to afford such machinery. Trending Videos Handout We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. You probably won’t spot a Royal while sightseeing in London, but there’s a good chance you’ll glimpse an Aston Martin or a Pagani. A new “survey” (it’s marketing, tbh) put together by Activity Superstore, a UK gift experience business, claims that London is the supercar capital of the world. This according to the number of times certain luxury car brands were hashtaged on Instagram. Driving.ca contributor and British car chap James Gent has a thing or two to say about this. VIDEO: Ride shotgun as the TURBINATOR II unofficially breaks 500 mphIn a feat that would make Ricky Bobby pee a little, the speed freaks at Team Vesco have recorded a new run in the TURBINATOR II, the official fastest wheel-driven car in the world, besting their previous top speed of 482.646 mph (over 776 km/h) by over 20 mph. Unfortunately, however, the team had to call off the second run that would have made the record official. Here’s why. This DeLorean hovercraft just sold for US$45,000 on eBayThe Delorean has been known to float through time, but it’s never been a seafaring vehicle until this San-Francisco-based Back to the Future fan got a hold of it. Matthew Riese used funds raised on Kickstarter to build this buoyant beaut, opting to save weight (but probably not money) by moulding together a shell from fibreglass and Styrofoam and then painstakingly styling it to look like metal. Judging by the aquatic donuts the craft now does, it appears to have been money well spent. Got $45,000 US and an obsession for 1980s pop culture? The Rolls-Royce Boat Tail may be the most expensive new car ever RELATED TAGSFordNews COMMENTSSHARE YOUR THOUGHTS advertisement Clayton Seams / Driving PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca The Cold Start is a round-up of automotive news to get you up to speed in the mornings, because it’s hard keeping pace in a digital traffic jam. Here’s what you missed while you were away.Waymo CEO ruins our self-driving-car fantasy with realistic expectationsIf you’ve been imagining your not-so-future self eating a bowl of oatmeal and watching YouTube in the back seat of your fully autonomous SUV, first off, good for you for getting your fibre, future you, and second, stop fantasying about that, it’s stupid. According to the CEO of Waymo, Alphabet Inc.’s autonomous vehicle squad, this fantasy will remain a fantasy for some time. At a Wall Street Journal conference he called the tech “really, really hard.” Reality is such a buzzkill. Read more.Behold, the perfect donut!Created with Raphaël 2.1.2Created with Raphaël 2.1.2Daniel Abt’s electric Audi RS3 performing a donut See More Videos