Tag Archives: services

The future of startup cryptocurrency Ripple hangs on the SEC’s case | Instant News


Brad Garlinghouse, Ripple’s chief executive, last year publicly contemplated at the World Economic Forum in Davos, Switzerland, the initial public offering for the San Francisco startup.

The company recently raised about $ 200 million in a venture funding round led by Tetragon Financial Group, with a valuation of $ 10 billion. The value of its flagship product, a cryptocurrency called XRP, has fallen over the previous year. But Ripple is poised to rebuild the infrastructure for cross-border trade, said Garlinghouse, promising that its future is bright.

A year later, the IPO was canceled. Instead, Ripple’s future hinges on the judge’s decision in a civil suit filed in December by the Securities and Exchange Commission.

Regardless of the outcome, this case is expected to set a major precedent for how US regulators create rules and laws covering cryptocurrencies. It also highlights a broader truth about most digital currencies: Beyond the two largest, bitcoin and ether, most of the hundreds of others have struggled to find utilitarian value beyond speculation.

At the heart of the SEC’s suit is the debate about XRP, a bitcoin-like digital asset created by the founder of Ripple that will grow to become the world’s third-largest cryptocurrency. It is designed to be part of a network that will help banks cut costs in cross-border transfers. The related software, however, never gained traction, the SEC accused, leaving XRP with no apparent purpose, other than to funnel sales to Ripple.

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New Year’s Award: Rob Fyfe, companion of the New Zealand Order of Merit – for services to business and tourism | Instant News


Business

Rob Fyfe was previously CEO of Air New Zealand and CEO of Icebreaker. Photo / Doug Sherring

Veteran entrepreneur and pride Kiwi Rob Fyfe has been recognized for his service to business and tourism.

Fyfe, who over the past nine months has played an important role in terms of Government-private sector relations during the Covid-19 response, has been appointed as the Companion of the New Zealand Order of Merit (CNZM).

The former chief executive of merino wool clothing company Kiwi, Icebreaker and national airline Air New Zealand has been credited for helping develop the New Zealand brand and the country’s clean, green tourism image.

Fyfe was CEO of Air New Zealand between 2005 and 2012, and his leadership helped develop the “New Zealand brand”. As CEO, he was a key driver in recognizing those who lost their lives in the Erebus 1979 and Perpignan 2008 tragedies, as well as their families. Following the 2011 Christchurch earthquake, he oversaw the provision of low-cost and flexible Air New Zealand flights into and out of Christchurch.

Between 2013 and 2018 he was CEO and chairman of Icebreaker, focusing sustainable and future manufacturing efforts for New Zealand merino farmers.

Fyfe said the awards were “a great way to round out a very tumultuous year”.

He said he would celebrate the achievement with his family, and acknowledge the sacrifices they have made during his career.

“I feel very honored [have] playing roles in some very important New Zealand companies and getting this recognition means a lot to me because it has a lot to do with my sense of identity as a New Zealander, “Fyfe told the Herald.

When Fyfe left school at 17, he spent the first nine years of his working life in the Air Force, and has since worked in a number of industries and sectors.

He was previously the general manager of Bank of New Zealand and chief operating officer of ITV Digital. He has also been director of jewelry for Michael Hill International since 2014, director of Air Canada since 2017, independent director of Trilogy International, chair of the Star Alliance CEO Board, member of the Board of Governors at the International Air Transport Association (IATA), director of Antarctica New Zealand, and currently a director. Hammerforce and Craggy Range advisors.

Fyfe continues to be the Government’s Covid-19 advisor to the private sector, which acts as a link between the Government and business. She was approached for the role by Prime Minister Jacinda Ardern during the lockdown.

He is now focused on New Zealand’s “strategic future” and rebuilding the country and has been contracted to work through 2021.

This is not the first time Fyfe has been appointed as a government advisor. In 2018, he became an independent advisor to the Pike River’s re-entry plan.

Reflecting on the last 35 years in business, Fyfe says it has become a “collection of adventures” as he forges his own path in life.

“I’m interested in challenging things, often quite risky things for me personally in terms of job opportunities – most of them here in New Zealand, but sometimes working overseas too; it’s a collection of adventures. outstanding . “

The first 20 years are about continuing to learn and overcoming challenges, and the last 10 years have focused on giving back and mentoring young people starting their own business journeys, he said, adding that it was “just as fun” as what he was doing. has achieved itself.

The next decade of his life will be dedicated to helping others realize their ambitions and dreams, says Fyfe, through investing in start-ups and providing guidance.

His time at Air New Zealand, including when he was recognized as the best airline in the world for two consecutive years, was a highlight of his career. When she joined the company, she was tasked with getting Kiwi to fall in love with the airline again.

“We are working really hard to try and re-create the loving relationship between New Zealanders and the national airline, and we are making a lot of progress. We are reviving the Air New Zealand personality and it feels like a real sense of accomplishment in time.”

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Prison drama: Police are still in Waikeria Prison where 19 inmates burn mattresses on the roof | Instant News


View of the Waikeria Prison where the inmates are on the roof mattress that had been burning since last night. Photo / Provided

Emergency services remain at the Waikeria Prison this morning after arriving yesterday to negotiate with inmates out of control on the burning mattress on the roof.

The Specialist Advanced Control and Control Team, made up of staff from various prisons, has been in the prison where inmates rioted since Tuesday afternoon.

It is understood that the situation is ongoing this morning, but Correction has not provided an update. Photos emailed to NZME late at night showed huge smoke clouds visible from neighboring farmland.

Police, firefighters and St. John were at the scene yesterday as Correction officers continued to try to negotiate with the inmates and ensure the safety of everyone in the prison.

A spokesman said 19 detainees had been seen on the roof of the building. This includes those who were involved in lighting the fire on the previous page today, along with several other people who were able to get out of their cells with assistance.

“Prisoners can access some parts of the building by penetrating the roof space, but their movement inside the building is restricted by internal gates, barriers and secure doors.

“There was a large amount of smoke around the building coming from the mattresses burned by the prisoners.”

Although there is no threat to public safety, Corrections staff have transferred 49 inmates from one unit to another in the prison while the incident continues.

“There are about 230 prisoners in total in the ‘top prison’ facility and we will not hesitate to evacuate further detainees if necessary to keep them safe.”

FENZ was initially summoned to Waikeria after inmates lit several fires in the prison’s practice yard on Tuesday afternoon.

About 20 prisoners were using the courtyard at the time.

The situation was thought to be under control before the nine detainees refused to comply with the instructions, Newshub reported.

The perpetrators allegedly removed the toilet door from their hinges and used it as a weapon against staff.

Correctional Association President Alan Whitley said the union is offering support.

“We are always concerned about people when situations like this occur, but we have a special team that has special training, they are professional people and they will do a professional job to control the situation,” Whitley told RNZ.

St John’s staff treated a number of staff and inmates for smoke inhalation. Earlier in the evening, it was thought that at least one inmate was bleeding after an argument with guards.

One detained inmate said riots in the prison were imminent, with inmates protesting for human rights. They claim there are problems in the prison, including toilet paper that is taking days, Newshub reports.

Last year, two Waikeria Prison Correction officers were punched in the face within days, while clashes between prisoners have also been reported.

An inmate punched an officer in the face and another officer was also injured when he stepped in to help.

The fight occurred after an officer was threatened and punched a few days earlier.

There have also been previous reports of inmates fighting amongst themselves.

The Waikeria Prison is one of New Zealand’s largest prisons, located on a 1,200ha site south of Te Awamutu in the Waikato region.

The ‘top prison’ where convicts currently reside were built in 1911 and are the oldest part of the prison. It was replaced by a new facility under construction at the prison and which is slated to open in 2022.

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American Express lags behind as travel and entertainment fail. What awaits us for the stock in 2021. | Instant News


Text size A sign displaying the American Express logo can be seen outside a restaurant Justin Sullivan / Getty Images With the year almost over, we take a look at the 30 stocks in the Dow Jones Industrial Average, starting with the worst performing – Boeing and Walgreens Boots Alliance – and we’re making our way to the highest stock in the benchmark – Apple. Rankings may change before the close of trading 2020, but the stories behind the stocks shouldn’t. American Express (AXP), which caters to affluent individuals and small businesses, is likely looking forward to closing the books in 2020. Shares are down 5.1% on the year, marked by a sudden and steep decline air travel, hotel stays and entertaining dining. Businesses are letting people work from home, leisure travel is at an all-time low, and small businesses are struggling to survive public health shutdown mandates. The Dow Jones Industrial Average index gained 6.3% while the S&P 500 index is up 15.4% this year. American Express derives 60% of its revenue from merchant discount fees, 20% from interest on loans and 20% from card fees, says Lisa Elllis, analyst at MoffettNathanson, who initiated the action on a purchase earlier this month, with a price target of $ 155. . The company has a market capitalization of $ 95 billion. The year has started well for American Express, hitting a high of $ 138.13 before stumbling 51% to a low of $ 67 on March 18. It’s the same pattern as the other stocks – since mid-March, stocks have steadily gained ground. But the pandemic took a toll on results. First-quarter earnings per share of 41 cents are well below expected $ 1.46, with second-quarter earnings per share even lower, at 29 cents, according to FactSet. Profit for the full year is expected to be $ 3.31 per share compared to $ 7.99 last year. Sales for the year 2020 are estimated at $ 36.2 billion compared to $ 43.5 billion in 2019. Vaccines and the return to more normal activities can make American Express stock a good deal for those. who seek to join the trend of reopening. It trades at a forward multiple of 17 compared to Mastercard’s 40 and Visa’s 38, according to FactSet. Write to Liz Moyer at [email protected]



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Income from goods and services increased 9 percent in 5 months | Instant News


KARACHI: Collection of withholding taxes on sales of goods and services increased 9 percent over the first five months of fiscal 2020, as economic activity began to recover in the period following the sluggish first wave of the COVID-19 pandemic, data showed on Friday.

Withholding income tax collection increased to Rs14,154 billion during the first five months of the current fiscal year compared to Rs13 billion in the same period last fiscal year, according to official data from the Karachi Large Taxpayer Office (LTO).

However, a source at the tax office said the second wave of the pandemic was already starting to have an impact on economic activity, adding that although the government did not impose a strict lockdown, service providers faced challenges due to adherence to anti-virus SOPs (Standard Operating Procedures).

According to statistics, the collection of income tax on goods grew 15 percent to Rs5.84 billion during July – November 2020 compared to Rs5.07 billion in the same period last fiscal year.

Officials attributed this growth during the period to increased manufacturing and trading activity following the easing of coronavirus restrictions.

Large-scale manufacturing (NGOs) during the July-October period increased 5.46 percent, according to the Pakistan Bureau of Statistics (PBS).

Withholding tax levies on sales of services fell 9 percent to Rs6.2 billion during the first five months of the current fiscal year compared with Rs6.75 billion in the same month last fiscal year.

Sources said the service sector had to experience this decline due to mandatory compliance with SOPs, which require them to arrange for staff to work from home.

However, tax collection on contract payments grew 58 percent to Rs1.23 billion during the period under review compared to Rs782 million in the same period last fiscal year. This growth is likely due to increased disbursement of funds under the public sector development program (PSDP).

Income tax collection on sales of goods and services during November 2020 grew 7 percent to Rs2.81 billion compared to Rs2.63 billion in the same month last month.

Sources said that the prospects for revenue collection for the remainder of the current fiscal year are uncertain. The finance ministry in its monthly economic outlook released a day earlier said the effect on the economic outlook will depend on the intensity of the pandemic and the duration of restrictions.

The ministry added that the uncertain outlook was due to the resurgence of a new wave of infections around the world and also in Pakistan, which required the imposition of new restrictions on social contact which could impact economic expansion.

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