Co-operative Bank to speed up toxic loans sell off after failing Bank of England stress tests

first_img Tags: Bank of England The Co-operative Group More From Our Partners Fort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Share whatsapp whatsapp Tuesday 16 December 2014 8:58 pm center_img The Co-operative Bank was the only lender to fail the Bank of England’s stress tests yesterday. As a result, it is accelerating its plan to sell off or run down a £6.6bn book of bad loans from the pre-crash era.Eight high street institutions’ finances were tested to see how they would cope with a hypothetical apocalyptic economic crash, in which house prices dive 35 per cent and unemployment soars to 12 per cent.This means it was intensely focused on the UK-focused banks, rather than those with global operations.Despite fears over the health of RBS and Lloyds in such a scenario, both banks scraped through. And when the authorities added in the cost-cutting measures the banks would implement, both passed comfortably.“The results show that the core of the banking system is significantly more resilient, that it has the strength to continue to serve the real economy even in a severe stress, and that the growing confidence in the system is merited,” said Bank of England governor Mark Carney. Lenders had to show the prudential regulation authority (PRA) that they would still have a core capital ratio of above 4.5 per cent in the scenario.HSBC and Standard Chartered performed best – the banks have big overseas operations, and recorded capital buffers of above eight per cent each.Barclays, Santander and Nationwide maintained ratios of 7.5 per cent, 7.9 per cent and 6.7 per cent respectively. Lloyds’ ratio fell to 5.3 per cent and RBS’ to 5.2 per cent. Lloyds is safe from being ordered to do more as it is now building capital through profits, while RBS has already announced plans to issue bonds to raise funds.But the Co-op more than used up its buffers in the test, falling to a ratio of minus 2.6 per cent. After nearly collapsing 18 months ago, it has already got a recovery plan in place.But regulators ordered it to accelerate that plan yesterday, and the Co-op has hired Bank of America Merrill Lynch to help it sell off and run down its £6.6bn book of bad mortgage loans, inherited from the Britannia Building Society. Co-operative Bank to speed up toxic loans sell off after failing Bank of England stress tests Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHero WarsThis game will keep you up all night!Hero WarsMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory Express KCS last_img read more

The CRISPR’d twins controversy upended the world of science. Wall Street? Not so much

first_img What is it? This week’s announcement that two Chinese children were born with CRISPR-modified genes exploded onto the global stage. Experts joined Good Morning America and took to Twitter, sharing their fears for the future and for the children’s health and discussing their concerns about the ethical quandaries realized sooner than some had expected.Wall Street, however, was unfazed. GET STARTED Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED General Assignment Reporter Kate covers biotech startups and the venture capital firms that back them. Biotech Log In | Learn More About the Author Reprints 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. Ruby Wallau for STATcenter_img The CRISPR’d twins controversy upended the world of science. Wall Street? Not so much What’s included? 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. Kate Sheridan By Kate Sheridan Nov. 30, 2018 Reprints [email protected] @sheridan_kate Tags biotechnologyChinaCRISPRdrug developmentgeneticsgenomicsSTAT+last_img read more

Covid-19 may change banking for good: Moody’s

first_imgModern urban skyscrapers in downtown Chicago from below to the blue summer sky. Sun reflecting in the glass facades of the urban futuristic buildings. Chicago, Illinois, USA iStock Related news The banking business will likely be permanently changed by the shift to remote working amid the Covid-19 outbreak, says Moody’s Investors Service.In a new report, the rating agency said that social distancing requirements, which pushed banks to operate remotely, have accelerated customer adoption of digital services. James Langton Share this article and your comments with peers on social media Facebook LinkedIn Twitter Ontario unlikely to balance budget by 2030: FAO A deadly first wave, followed by a tsunami of excess deaths Keywords Pandemics,  Coronavirus,  Banking industryCompanies Moody’s Investors Service G7 tax pledge may be upstaged by CBDC work “We expect some of this shift to be permanent,” it said.Moody’s found that Europe’s 35 largest banks have reported “a surge in the use of digital services from new and existing clients.”It said that most banks reported growth in both the use of mobile apps and online banking platforms in the first quarter of 2020.“They experienced increased customer interactions via online chats and emails as well as higher percentages of new clients on-boarded digitally. Digital payments, sales of digital products as well as mobile application downloads also rose,” it said.At the same time, Moody’s said the banks were quick to develop new digital products.“Banks rapidly developed and rolled out online services to support clients — small businesses in particular — through the unprecedented liquidity squeeze caused by the crisis,” it said.“Many banks have offered end-to-end digital applications for payment moratoriums, digital processing of loan applications including loans benefiting from government guarantee programs. Some banks upgraded their digital platforms and broadened use of e-signature projects.”At the same time, the requirement for social distancing has revealed the potential for cost savings at banks that are currently heavily reliant on real estate.“Several banks reported their intention to continue an extensive ‘work from home’ program once the pandemic has passed,” it said. “This follows successful implementation of remote working for a large percentage of their staff.”The report added: “At most large European banks, at least 60% of employees worked remotely during the lockdown. This could translate into appreciable cost reductions in coming years in terms of reduced office space and smaller branch networks as business is increasingly conducted digitally.”A continued shift to digital services will also require heavier investments in IT infrastructure and may increase cyber risk, Moody’s noted.last_img read more

BMO found AI, climate change and diversity opportunities in pandemic: CEO

first_img Share this article and your comments with peers on social media TD getting new head of private wealth, financial planning Related news Providing funding and inspiration for Black entrepreneurs Canadian Press plan idea iStockphoto.com / alexsl “We entered 2020 with strong momentum, we adapted quickly to the changing environment, continued making progress throughout the year and came out of it even stronger,” said White, during the bank’s annual general meeting, which was held virtually for the second time.White attributed some of that strength to artificial intelligence, which he said allowed BMO to model more lending scenarios and access deeper and increasingly sophisticated pools of data.The technology helped customers make quicker and better decisions as they grappled with layoffs, lower investment rates and mortgage deferral needs.White and the bank didn’t just see opportunities in AI. The pandemic also delivered chances to increase the bank’s diversity and commitments around climate change.“Our bank has long believed in sharing the gains of social and economic well-being and that belief has only intensified during the pandemic,” White said.BMO recently introduced a series of targets aimed at increasing the representation of women, employees with disabilities and workers who are Black, Latino, LGBTQ+ or Indigenous by 2025.The company pledged to raise the representation of Black employees in senior leadership roles to 3.5% in Canada and 7% in the U.S., increase the number of Indigenous workers to 1.6% across the whole company and maintain a gender equity position between 40% and 60% in senior positions.In its most recent proxy circular, the bank said women make up 54% of the bank’s employees and about 41% of its senior leadership roles.BMO zeroed in on environmental commitments too because of the “urgent” need to address climate change, White said.“In more and more company boardrooms, climate action is no longer seen as a sustainability pledge,” he said. “It is a business imperative.”The bank recently committed $300 billion to achieve net-zero carbon emissions by 2025, endorsed the United Nation’s principles for responsible banking and released a sustainability report with a climate-specific section, he said.BMO’s AGM also saw the appointment of two new board members, Stephen Dent and Madhu Ranganathan.Canadian Imperial Bank of Commerce and Royal Bank of Canada will host AGMs on Thursday while the Bank of Nova Scotia will hold its next week. BMO Financial Group’s chief executive says the Covid-19 pandemic has pushed his bank to get more serious about artificial intelligence, diversity and climate change.BMO spent the first year of the health crisis focused on helping customers facing unprecedented challenges, but Darryl White said Wednesday that it also sought opportunities to “grow the good.” Fed plays limited role in assessing climate risks for banks Facebook LinkedIn Twitter Keywords Banking industry,  Artificial intelligence,  Diversity last_img read more

Need to Examine Unregulated Choices Available to Young People…Says PM Golding

first_imgRelatedNeed to Examine Unregulated Choices Available to Young People…Says PM Golding RelatedNeed to Examine Unregulated Choices Available to Young People…Says PM Golding FacebookTwitterWhatsAppEmail Prime Minister the Hon. Bruce Golding is of the view that there is a need to examine the expanded, unregulated and distracting choices available to young people and in particular boys.He said there are too many impulses coming at youngsters from too many directions. “Where are they going to find time to focus on their academic learning?. Where are they going to find time to be trained in a particular way? I think that this myriad of alternatives that are now available to young people and particularly our boys require far greater parental guidance and intervention than it did when I was a youngster. I don’t think it is getting that response”, Mr. Golding said.The Prime Minister was addressing this morning’s (May 6) session of a World Bank regional conference on ‘Keeping Boys out of Risk’ at the Rose Hall Hotel in Montego Bay St. James.Mr. Golding said Government is addressing the situation in a number of ways, including expansion of the Programme of Advancement Through Health and Education (PATH). He said there is also the establishment of a parenting commission which is an attempt to provide a legislative framework that would encourage institutional support with legal authority to make the kind of intervention that Government feels is necessary. He said that Bill should be before Cabinet next week.Prime Minister, the Hon. Bruce Golding, makes a point to Vice President of the World Bank, Pamela Cox during today’s (May 6) session of the Regional Caribbean Conference on ‘Keeping Boys out of Risk’ at the Rose Hall Resort in St. James. The three-day conference, which opened yesterday (May 5), is a joint initiative between the World Bank and the Commonwealth Secretariat, and is aimed at addressing the problem of boys at risk in Latin America and the Caribbean.Mr. Golding said another intervention made with the support of the World Bank, is designed to address that cohort in targeted areas of health, education and nutrition. The Prime Minister noted that up to last year there was a fixed amount but the allocation for boys was increased in an attempt to encourage greater participation by boys at school.“What we are trying to do is influence them (boys) to come to school.” He has called for a report to determine how effective this programme has been.The World Bank and the Commonwealth Secretariat have joined forces to address the emerging problem of boys at risk in Latin American and Caribbean countries. This is being treated as a gender issue related to development challenges such as alienation of boys from education, drop-outs of schools, crime and violence, alleged male marginalisation, access to labour market and poverty alleviation.This morning’s session was addressed by the Vice President of the World Bank Pamela Cox, and was followed by a private meeting between Prime Minister Golding and executives of the World Bank. Need to Examine Unregulated Choices Available to Young People…Says PM Golding CultureMay 6, 2009center_img Advertisements RelatedNeed to Examine Unregulated Choices Available to Young People…Says PM Goldinglast_img read more

Statement from Chief Public Health Officer of Canada on April 11, 2021

first_imgStatement from Chief Public Health Officer of Canada on April 11, 2021 From: Public Health Agency of CanadaOn April 11, 2021, Dr. Theresa Tam, Canada’s Chief Public Health Officer, issued the following statement on COVID-19. April 11, 2021 Ottawa, ON Public Health Agency of CanadaThe COVID-19 pandemic continues to create stress and anxiety for many Canadians, particularly those who do not have ready access to their regular support networks. Through the Wellness Together Canada online portal, people of all ages across the country can access immediate, free and confidential mental health and substance use supports, 24 hours a day, seven days a week.As COVID-19 activity continues in Canada, we are tracking a range of epidemiological indicators to monitor where the disease is most active, where it is spreading and how it is impacting the health of Canadians and public health, laboratory and healthcare capacity. At the same time, the Public Health Agency of Canada is providing Canadians with regular updates on COVID-19 vaccines administered, vaccination coverage and ongoing monitoring of vaccine safety across the country. The following is the latest summary on national numbers and trends, and the actions we all need to be taking to reduce infection rates, while vaccination programs expand for the protection of all Canadians.Since the start of the pandemic, there have been 1,052,539 cases of COVID-19, including 70,619 active cases and 23,287 deaths reported in Canada; these cumulative numbers tell us about the overall burden of COVID-19 illness to date. They also tell us, together with results of serological studies, that the vast majority of Canadians remain susceptible to COVID-19. As vaccine delivery ramps up at an accelerated pace, there is cause for optimism that widespread and lasting immunity can be achieved through COVID-19 vaccination. We now have multiple safe and effective COVID-19 vaccines with unique advantages that are authorised for use in Canada. Vaccine coverage is increasing across Canada, with benefits being seen in prioritized high-risk populations. Ramp up of vaccine supply and acceleration of vaccination programs will return further benefits to protect more Canadians, over the coming weeks and months.However, with the current acceleration of COVID-19 activity, approaching the peak of the second wave, and a concerning rise in the proportion of cases that involve more contagious variants of concern, strong public health measures and individual precautions must be sustained where COVID-19 is circulating. The latest national-level data show a 7-day average of 6,873 new cases daily (Apr 2-8). For the week of March 28 to April 3, there were on average of 115,654 tests completed daily across Canada, of which 5.1% were positive for COVID-19, an increase from 4.3% the week prior. Sustained high infection rates are also impacting COVID-19 severity indicators, which are levelling off (deaths) or increasing (hospitalization), particularly in areas with elevated disease activity. The rise in severe and critical illnesses is placing renewed strain on the health system and healthcare workforce. Provincial and territorial data indicate that an average of 2,560 people with COVID-19 were being treated in Canadian hospitals each day during the most recent 7-day period (Apr 2-8) representing a 7% increase over last week, including 860 of whom were being treated in intensive care units, which is 23% higher than last week. During the same period, there were an average of 30 COVID-19-related deaths reported daily.While COVID-19 continues to impact people of all ages in Canada, infection rates are highest among those aged 20-39 years of age. As well, we are seeing an increased number of adults under the age of 60 years being treated for COVID-19 in hospital, including in intensive care units. The Canadian Nosocomial Infection Surveillance Program (CNISP) tracks incidence rates of patients hospitalised with COVID-19 from 151 sentinel acute-care hospitals in 10 provinces and one territory. The latest CNISP data (Mar 21-27) shows an increasing number of hospitalisations among adults 40-59 years of age. These data also show that an increased number of adults in this age group were admitted to intensive care units (ICU) and received mechanical ventilation in March 2021. During the same month, patients aged 18-39 years made up 15% of new COVID-19 admissions to ICUs, which is double compared to January (7.4%) 2021.This is a reminder that serious illness can occur at any age and evidence indicates that variants of concern can be associated with more severe illness and increased risk of death. In addition, circulation of COVID-19 in younger, more mobile and socially-connected adults is an ongoing risk for spread into high-risk populations and settings. As of April 8, a total of 24,995 variant of concern cases have been reported across Canada, including 23,611 involving B.1.1.7 variants, 1,039 P.1 variants and 345 B.1.351 variants. Although B.1.1.7, which is now confirmed in all provinces and two territories, continues to account for the majority of variants of concern in Canada and has likely replaced the original virus in some areas, there has been a concerning rise in P.1 cases in recent weeks. Early evidence suggests that the P.1 variant may reduce the effectiveness of vaccines, making it even more important to control its spread.Several jurisdictions have highlighted social gatherings as an important driver for spread. Yet, amid a rising proportion of cases involving variants of concern, escalating infection rates in many areas of the country, and increasing severity trends, a high degree of caution must be maintained until vaccination programs are further expanded. A combination of strong and sustained community-based public health measures and strict adherence to individual precautions is crucial in order to suppress rapid epidemic growth.Canadians are urged to remain vigilant, continue following local public health advice, and consistently maintain individual practices that keep us and our families safer: stay home/self-isolate if you have any symptoms, think about the risks and reduce non-essential activities and outings to a minimum, avoid all non-essential travel, and maintain individual protective practices of physical distancing, hand, cough and surface hygiene and wearing a well-fitted and properly worn face mask as appropriate (including in shared spaces, indoors or outdoors, with people from outside of your immediate household).Aiming to have the fewest interactions with the fewest number of people, for the shortest time, at the greatest distance possible, while wearing the best-fitting mask is a simple rule that we can all apply to help limit the spread of COVID-19, as vaccine programs expand to protect all Canadians.Canadians can also go the extra mile by sharing credible information on COVID-19 risks and prevention practices and measures to reduce COVID-19 in communities and by downloading the COVID Alert app to break the cycle of infection and help limit the spread of COVID-19. Read my backgrounder to access more COVID-19 Information and Resources on ways to reduce the risks and protect yourself and others, including information on COVID-19 vaccination. /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:Canada, Government, health, healthcare, infection, intensive care, intensive care unit, mental health, optimism, Ottawa, prevention, public health, resources, surveillance, vaccination, Vaccines, workforcelast_img read more

Historic Mercedes-Benz rally driver inspires a toy car for girls

first_img After marrying motorsport enthusiast Ingve Rosqvist in 1954, she began driving in rally competitions, and became a works driver first for Volvo, and then for Mercedes-Benz.Through Mattel’s Dream Gap Foundation, which supports organizations that help girls to reach their full potential, the automaker and toy manufacturer will give thousands of the cars to young girls in the U.S. through a non-profit partner. A teaching toolkit will also be provided.They will also be sold in stores beginning in 2020, with proceeds from the sale used to make and distribute more toys to children.“Through Ewy’s story, we saw an opportunity to inspire young girls to ‘play outside the box’ and imagine all the different opportunities open to them, without the restrictions of traditional stereotypes,” said Mark Aikman, general manager of Mercedes-Benz USA’s marketing services.“We realized that these pioneering women from our past could serve as valuable role models for young girls today.” Mercedes-Benz has partnered with Mattel on a toy meant to challenge gender stereotypes.The Matchbox model is a copy of a Mercedes-Benz 220SE that Swedish-born rally driver Ewy Rosqvist drove to victory over male drivers in the 1962 Argentinian Touring Car Grand Prix.Born in 1929, Rosqvist became a veterinary assistant and had to drive 150 to 200 kilometres each day between farms, a commute she used to constantly improve her driving speed and technique. 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” Trending Videos Rosqvist famously quipped, “They said I could never finish, so I finished first.” That’s a key to a short film clip, No Limits, that Mercedes-Benz USA has put together for the project. We challenge you to watch it without getting a little lump in your throat. The Rolls-Royce Boat Tail may be the most expensive new car ever Trending in Canada ‹ Previous Next ›center_img See More Videos advertisement RELATED TAGSMercedes-BenzNews 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 We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. COMMENTSSHARE YOUR THOUGHTSlast_img read more

The Polestar 2 starts at just under $70,000 in Canada

first_img Swedish electric performance car brand Polestar has revealed its Canadian pricing for its first all-electric vehicle, the 2021 Polestar 2.And no, it will not qualify for any government EV rebates, at least as they are written today. The electric performance fastback will start at $69,900, with deliveries to Canadian reservation holders beginning in late summer.  The Polestar 2 is available for purchase now on polestar.com.There are also a number of optional add-ons, including a Performance Pack ($6,000), a Nappa leather interior ($5,000), 20-inch alloy wheels ($1,200) and metallic paint colours ($1,200). Trending in Canada “We are proud to offer a premium electric vehicle at such a competitive price,” said Hugues Bissonette, Head of Polestar Canada. “Based on the extremely positive reaction from the market, we expect strong sales throughout Canada.”RELATED COMMENTSSHARE YOUR THOUGHTS 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” RELATED TAGS2PolestarHatchbackElectricLuxuryElectric CarsElectric VehiclesLuxury VehiclesNew Vehicles We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. The Polestar Precept is an (almost) totally vegan automobile Based on current rates, Polestar is targeting a lease price of $899/month, and financing as low as 0.9 per cent.The Polestar 2 is an all-wheel drive, five-door electric performance fastback with an output of 408 hp and 487 lb.-ft. of torque. It is also the first car in the world with an infotainment system powered by Android, with Google Assistant, Google Maps and the Google Play Store built in.Bissonette said the company will soon open Polestar Spaces in Toronto, Montreal and Vancouver. These physical retail showrooms will host non-commissioned Polestar Specialists to assist customers with product information and test drives. 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 center_img Trending Videos Created with Raphaël 2.1.2Created with Raphaël 2.1.2 The Polestar 2 is an all-wheel drive, five-door electric performance fastback with an output of 408 hp and 487 lbs.-ft of torque.  Andrew McCredie advertisement See More Videos The Polestar 2 is taking EV safety measures to a whole other level The Rolls-Royce Boat Tail may be the most expensive new car ever ‹ Previous Next ›last_img read more

NITI Aayog hasn’t rejected offer to bring medical devices under CDSCO: Govt

first_imgNITI Aayog hasn’t rejected offer to bring medical devices under CDSCO: Govt Responding to a question in the Rajya Sabha, Minister of State for Health Ashwini Choubey said that no proposal has been approved regarding establishment of a separate statutory body on the lines of the Food Safety and Standards Authority of India (FSSAI) for the regulation of medical devices Add Comment Menopause to become the next game-changer in global femtech solutions industry by 2025 WHO tri-regional policy dialogue seeks solutions to challenges facing international mobility of health professionals Read Article News Share Indraprastha Apollo Hospitals releases first “Comprehensive Textbook of COVID-19” Comments (0) The missing informal workers in India’s vaccine story Phoenix Business Consulting invests in telehealth platform Healpha It also proposes a penalty of up to Rs 1 crore on the manufacturers or importers for faulty medical devices having adverse impacts on patientsThe NITI Aayog has not rejected the proposal to bring medical devices under the Central Drugs Standard Control Organisation (CDSCO), the government informed the Parliament recently.The CDSCO under the Ministry of Health regulates the safety, efficacy and quality of notified medical devices under the provisions of Drugs and Cosmetics Act, 1940 and Rules made thereunder.Responding to a question in the Rajya Sabha, Minister of State for Health Ashwini Choubey also said that no proposal has been approved regarding establishment of a separate statutory body on the lines of the Food Safety and Standards Authority of India (FSSAI) for the regulation of medical devices.In order to bring all the non-notified medical devices under the regulation, the ministry has prepared a roadmap and published draft rule dated October 18.Further, a notice has been issued seeking the comments of the stakeholders on a proposal to notify all the medical devices under sub section (b) of section (3) of the Drugs and Cosmetics Act, 1940 to regulate them as per the provisions of the said Act and Medical Devices Rules, 2017 framed thereunder, Choubey said.The Centre’s response comes in the backdrop of the NITI Aayog proposing a new framework for regulating all locally-made and imported medical devices.The draft legislation, titled Medical Devices (Safety, Effectiveness and Innovation) Bill, 2019 proposes a separate regulator under the Directorate General of Health Services (DGHS) to monitor the medical devices sector.It also proposes a penalty of up to Rs 1 crore on the manufacturers or importers for faulty medical devices having adverse impacts on patients.It has suggested a jail term extending up to three years or fine up to Rs 50 lakh or both for placing a medical device in the market without a valid certificate of conformity, obtaining a registration and without complying with conditions as may be specified under the proposed Act.Also, under the draft law, patients suffering from adverse effects of faulty medical devices and implants will soon be able to demand compensation from the manufacturer or the firm importing them.At present, there are no legal provisions to compensate patients facing health problems due to faulty implants or medical devices. MaxiVision Eye Hospitals launches “Mucormycosis Early Detection Centre” By Press Trust of India on November 25, 2019 Related Posts Heartfulness group of organisations launches ‘Healthcare by Heartfulness’ COVID care app Ashwini Kumar ChoubeyCDSCOFood Safety and Standards Authority of IndiaFSSAImedical devicesNITI AayogParliamentRajya Sabha last_img read more

Employers urged to Create Environment that will Motivate Staff

first_imgFacebookTwitterWhatsAppEmail Minister of Labour and Social Security, Hon. Derrick Kellier, is imploring employers to create a comfortable work environment, that will motivate employees to perform at their optimum, in an effort to increase productivity in the country. “What this implies is the need for employers and their managers to devise operational frameworks, that will enable active participation with regard to the decision making process, and will help to boost productivity in organisations,” he said. The Minister was speaking at the opening of the ‘Make Your Mark’ Middle Managers conference, on April 19, at the Wyndham Hotel, in Kingston. The two-day conference, themed: ‘The Heart and Hub of Enterprise’, exposes businesses to numerous learning opportunities that will assist individuals to become agents of change in this technological age. “If each individual (sitting here today) wants to be the ‘Heart and Hub’ of your respective businesses, then I beseech you to recognise that today’s employees are not ‘workers’ who, in  the traditional sense, readily stand for a command-and-control business environment. They have, instead, evolved into sophisticated collaborators at the heart of our business enterprises, in both the public and private sectors,” the Minister argued. He emphasised that if persons want to become successful middle managers, then they must be prepared to evolve, in the same way the workforce has evolved. Highlighting the theme, Mr. Kellier said that the issue of productivity is under the radar, because of the lack of synergy among employers and employees, observed in many organisations in Jamaica. “Not so long ago, Jamaican Managers measured their success by how well they reinforced bureaucracy. In today’s society, this has changed, as a result of technology and the need for collaboration. Bureaucracy has somewhat been eradicated, thus enabling employees to be more involved and adaptable to change,” he pointed out. Mr. Kellier said that managers should always involve employees in organisation planning, which promotes a smooth operation, and paves the way for effective communication, “because if you can’t work along with your employees, then the productivity level will gradually decrease.” “As managers, you are powerful players in the density of your respective organisations, and by extension, this country. You have the power to make an employee’s job satisfying or frustrating,” the Minister pointed out. He urged managers to change the way they operate, and find new meanings, solutions, and rules of engagement, to address the problems facing companies. The conference will feature guest speakers from several local and international  organisations. RelatedEmployers urged to Create Environment that will Motivate Staff By Jeneva Gordon, JIS PRO Employers urged to Create Environment that will Motivate Staff LabourApril 20, 2012 RelatedEmployers urged to Create Environment that will Motivate Staff RelatedEmployers urged to Create Environment that will Motivate Staff Advertisementslast_img read more