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Brewers love crafting a wide array of beers, but over time, beer drinkers have gravitated dramatically toward two key factors – hoppiness and drinkability.Saint Joseph’s storybook run to the NCAA field hockey final culminated in dream finish for Northwestern on Sunday. The second-seeded Wildcats scored three times in the first quarter to blitz St. Joe’s, 5-0, in the NCAA Final, denying the Hawks their first title. Northwestern wasted little time jumping all over the fourth-seeded Hawks, who had upset previously unbeaten North Carolina in the semifinals. American Olympian Maddie Zimmer rifled a sharp-angled drive home 6:25 into the game. She would add a second, off a penalty corner, in the second quarter, her 10th of the season. Zimmer’s shot 11 minutes in was deflected home by Olivia Bent-Cole for a 2-0 lead. Ilse Tromp, who set up Zimmer’s first goal, rocketed home a shot on a penalty corner with 35 seconds left in the opening frame to make it 3-0. The secondary assist on that goal went to Ashley Sessa, the Episcopal Academy All-Delco and American Olympian who triggered the corner. Sessa added a secondary assist on Zimmer’s second goal. Tromp tucked away another corner goal with seven minutes left in a thoroughly dominant first half. Lauren Hunter tallied three assists. Northwestern (22-1) won for the second time in its four consecutive trips to the final. It beat Liberty in 2021, then lost to UNC each of the last two years. The lopsided score ties North Carolina in 2019 (6-1 over Princeton) and Old Dominion in 1990 (5-0 over UNC) for the largest margin of victory in a national field hockey final. Five first-half goals is an NCAA finals record. St. Joe’s (20-4) was outshot 15-3. It had four penalty corners to Northwestern’s seven. Northwestern goalie Annabel Skubisz had to make just one save, off a shot from Celeste Smits.
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By DEVNA BOSE One of the country’s largest health insurers reversed a change in policy Thursday after widespread outcry, saying it would not tie payments in some states to the length of time a patient went under anesthesia. Anthem Blue Cross Blue Shield said in a statement that its decision to backpedal resulted from “significant widespread misinformation” about the policy. “To be clear, it never was and never will be the policy of Anthem Blue Cross Blue Shield to not pay for medically necessary anesthesia services,” the statement said. “The proposed update to the policy was only designed to clarify the appropriateness of anesthesia consistent with well-established clinical guidelines.” Anthem Blue Cross Blue Shield would have used “physician work time values,” which is published by the Centers for Medicare and Medicaid Services, as the metric for anesthesia limits; maternity patients and patients under the age of 22 were exempt. But Dr. Jonathan Gal, economics committee chair of the American Society for Anesthesiologists, said it’s unclear how CMS derives those values. In mid-November, the American Society for Anesthesiologists called on Anthem to “reverse the proposal immediately,” saying in a news release that the policy would have taken effect in February in New York, Connecticut and Missouri. It’s not clear how many states in total would have been affected, as notices also were posted in Virginia and Colorado . Related Articles National News | The next census will gather more racial, ethnic information National News | As data centers proliferate, conflict with local communities follows National News | NASA’s stuck astronauts hit 6 months in space. Just 2 more to go National News | Imprisoned Proud Boys leader balks at answering a prosecutor’s questions about Capitol attack National News | 7.0 earthquake off Northern California prompts brief tsunami warning People across the country registered their concerns and complaints on social media, and encouraged people in affected states to call their legislators. Some people noted that the policy could prevent patients from getting overcharged. Gal said the policy change would have been unprecedented, ignored the “nuanced, unpredictable human element” of surgery and was a clear “money grab.” “It’s incomprehensible how a health insurance company could so blatantly continue to prioritize their profits over safe patient care,” he said. “If Anthem is, in fact, rescinding the policy, we’re delighted that they came to their senses.” Prior to Anthem’s announcement Thursday, Connecticut comptroller Sean Scanlon said the “concerning” policy wouldn’t affect the state after conversations with the insurance company. And New York Gov. Kathy Hochul said in an emailed statement Thursday that her office had also successfully intervened. The insurance giant’s policy change came one day after the CEO of UnitedHealthcare , another major insurance company, was shot and killed in New York City.Fears for needy as uncertain charities face cash crunch{ "@context": "https://schema.org", "@type": "NewsArticle", "dateCreated": "2024-12-03T23:21:46+02:00", "datePublished": "2024-12-03T23:21:46+02:00", "dateModified": "2024-12-04T05:49:40+02:00", "url": "https://www.newtimes.co.rw/article/22325/news/economy/rwanda-has-successfully-met-its-imf-commitments-envoy", "headline": "Rwanda has successfully met its IMF commitments – envoy", "description": "In October 2022, the International Monetary Fund (IMF) approved $319 million for Rwanda as the first African country and the third in the world to...", "keywords": "", "inLanguage": "en", "mainEntityOfPage":{ "@type": "WebPage", "@id": "https://www.newtimes.co.rw/article/22325/news/economy/rwanda-has-successfully-met-its-imf-commitments-envoy" }, "thumbnailUrl": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/03/65498.png", "image": { "@type": "ImageObject", "url": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/03/65498.png" }, "articleBody": "In October 2022, the International Monetary Fund (IMF) approved $319 million for Rwanda as the first African country and the third in the world to benefit from the Resilience and Sustainability Facility (RSF). The facility was a three-year arrangement that the IMF launched to help countries tackle long-term challenges, such as climate change. As the arrangement comes to an end, The New Times’ Business Editor Julius Bizimungu spoke to Gabor Pula, Resident Representative for IMF in Rwanda to discuss lessons learnt, how the facility has enabled Rwanda to embark on reforms that will shape the economy, and how the country can strike a good balance between financing its ambitious economic agenda and managing rising debt levels. Below are the excerpts: The RSF under which the IMF approved $319 million for Rwanda in 2022 is coming to an end. What lessons have you learnt? Rwanda’s early access to the RSF was made possible by the country’s preparedness and already existing climate policies. For example, at the time of the RSF approval, Rwanda already had a comprehensive climate diagnostic, which identified priority areas for reforms that could be supported by the RSF facility. Such a detailed climate strategy ensured a head-start to RSF reform implementation. Overall, the Rwandan authorities’ performance under the RSF programme has been exceptionally strong. To demonstrate their unwavering commitment to the RSF-supported climate agenda, the authorities even accelerated the implementation of the originally agreed reform measures. As a result, Rwanda has now successfully completed all its RSF commitments, six months ahead of the initial timeline (of December 2024). Rwanda is the first and only country among our members that managed to do this, and it highlights Rwanda’s ability to accelerate reforms ahead of schedule. Close cooperation with development partners has been also key to this success. Climate investments require complex technological and financial considerations, which – due to their novelty – are challenging even in the most advanced economies of the world. Rwanda has been particularly successful in absorbing external technical expertise provided by its development partners and integrating it with home grown solutions. As a result, Rwanda has managed to develop a unique approach to catalyze climate private financing, which could serve as a blueprint for other developing countries. This unique approach combines three main components: the advanced infrastructure of Private and Public Climate Investment Facilities (Ireme and Intego) that were established already before the RSF, the transparency frameworks, such as the climate budget tagging, green taxonomy and adoption of international climate reporting standards that were developed in the context of the RSF. Finally, it includes the use of innovative climate finance instruments, which ensure affordability of climate finance for Rwandan green entrepreneurs by blending concessional resources with market-based funding. Rwanda has a climate action plan that requires $11 billion through 2030. Do the reforms being undertaken enough to enable Rwanda raise this necessary funding? Given its limited fiscal space, Rwanda needs to rely on concessional and private climate financing to implement its ambitious climate agenda. Indeed, the overall cost of implementing Rwanda’s Nationally Determined Contributions (NDCs) strategy is estimated at $11 billion, which would imply investments amounting to 7 per cent of GDP each year during the 2020-2030 period. Given Rwanda’s already elevated debt level, room for public sector borrowing is limited. Domestic efforts to mobilise revenue and improve spending efficiency will help, but they take time. This puts the focus on efforts to mobilise private climate investment. Rwanda successfully leveraged the RSF and managed to secure an extra EUR 300 million with the help of bilateral and multilateral partners, on top of the RSF’s $319 million contribution. However, this amount is still only a small portion of the total financing needed to implement Rwanda’s climate agenda. In this context, Rwanda must continue its efforts to mobilise concessional and private climate resources. The IMF has said that Rwanda needs to accelerate the development of green projects and lending operations. What are these projects and why is it important to accelerate them? The RSF-supported reform measures helped address impediments to concessional and private climate flows to Rwanda. Private climate inflows to Rwanda, similar to other low-income countries, have been constrained by low risk-adjusted returns, persisting information asymmetries, and market size disadvantage. To overcome these obstacles and establish incentives for private capital, Rwanda needs strong legal frameworks, governance and data disclosure standards guiding its climate investments. As an example, Rwanda’s new climate budget tagging system and green taxonomy will strengthen investor confidence by mitigating their concerns about greenwashing. In the next step, these newly developed taxonomies will be used to identify private and public investment projects that can strengthen the economy’s resilience to climate shocks. Rwanda is also a pioneer in this area among developing economies. Ireme Invest has started its lending operations with a total value of its green projects pipeline estimated at about $30 million over the 2024-25 period. The scaling up of the pipeline is challenging, as both the Rwanda Development Bank and businesses need time to strengthen their understanding of the technical requirements for climate investments. To address this obstacle, Ireme Invest has established a Project Preparation Facility managed by the Rwanda Green Fund (FONERWA). Rwanda’s Public Green Investment Facility (Intego) has also identified public investment projects at the total value of $34 million. A well-developed project pipeline should play a critical role in mobilising additional resources to finance Rwanda’s ambitious climate agenda. The IMF has a 3-year Policy Coordination Instrument that ends next year. The aim was to support the government to build on the progress in macroeconomic, fiscal, and financial reforms. Have any of these reforms happened? Under the Policy Coordination Instrument (PCI), the Rwandan authorities put together a medium-term reform plan for the 2022-25 period to ensure macroeconomic stability, advance fiscal consolidation, strengthen monetary policy transmission and deepen financial markets, and build socioeconomic resilience. The PCI is a non-disbursing arrangement, which means that the IMF does not provide financial support related to the programme. We support the authorities in the design of their reform plan, provide technical assistance to build institutional capacity, monitor the implementation of the reforms and report on their progress. The benefit of such a non-disbursing arrangement for the authorities is what we call the IMF’s “seal of approval” of their policies. It provides assurances for development partners and financial markets that Rwanda’s macroeconomic policies are sound. Rwanda’s performance under the PCI has been broadly strong. Key achievements under the PCI include the introduction of more efficient and transparent frameworks to manage public investments, formulation of a medium-term spending rationalisation strategy, gradual deepening of the interbank and foreign exchange market to strengthen monetary policy transmission and the launching of the dynamic social registry, which is a state-of-the-art system that will allow for better targeting of social protection benefits. In December 2023, the authorities also requested a 14-month financing arrangement under the so-called Stand-by Credit Facility (SCF) to help them preserve foreign exchange reserves, which came under pressure following an increase in the import bill, due to high food imports and the reconstruction after the devastating floods last year. As a result of the recalibration of macroeconomic policies, the $260 million total financing under the SCF, and its catalytic effect that allowed Rwanda to secure additional concessional financing mainly from the World Bank, foreign exchange reserves have now stabilised at comfortable levels. The IMF has previously indicated that Rwanda faces fiscal risks from state-owned enterprises. What are these risks and how can they be mitigated? Besides raising more revenues, fiscal consolidation can be achieved via more efficient spending. Rwanda has limited resources, and it is critical that those limited resources are not wasted and put in the most productive use possible. Enhanced transparency is key to scrutinise the use of resources, and so it is an important achievement that the Ministry of Finance started to publish the list of major public projects and their selection criteria on its website. In a similar vein, state-owned enterprises (SOEs) need to be managed efficiently. This means several considerations. First, the authorities need to revisit which SOEs are critical for the functioning of the economy, and which are the SOEs that could possibly be replaced by the private sector. Second, the corporate governance of remaining SOEs needs to be improved. Finally, it is important that any financial support provided by the budget to SOEs, in the form of direct subsidies and guaranteed loans for example, are fully accounted for. At the end of the day, the authorities will need to ensure that budget resources are not subsidising loss-making activities in SOEs. What about the forex exchange market, has Rwanda made reform progress? With regard to the exchange rate, the central bank did a good job so far in managing pressures on its FX reserves. The exchange rate was allowed to depreciate since early 2023, which was necessary to facilitate the much-needed external adjustment. Similar to most developing countries, Rwanda’s imports exceed its exports, which implies that the demand for foreign currency is larger than its supply. The trade deficit puts the exchange rate under pressure, unless it is fully financed by capital inflows, such as remittances, foreign direct investment, or concessional borrowing. Continued exchange rate flexibility will be critical to help absorb external shocks and support the current account adjustment.", "author": { "@type": "Person", "name": "Julius Bizimungu" }, "publisher": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/", "sameAs": ["https://www.facebook.com/TheNewTimesRwanda/","https://twitter.com/NewTimesRwanda","https://www.youtube.com/channel/UCuZbZj6DF9zWXpdZVceDZkg"], "logo": { "@type": "ImageObject", "url": "/theme_newtimes/images/logo.png", "width": 270, "height": 57 } }, "copyrightHolder": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/" } }
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NEW YORK , Dec. 3, 2024 /PRNewswire/ -- Nicsa , a prominent asset and wealth management industry association, awarded its 2024 NOVA "Innovation in Operations" award to Broadridge Financial Solutions, Inc. (NYSE: BR ), for its Tailored Shareholder Reports solution designed to address complexities introduced by the SEC's TSR ruling, which came into effect in July 2024 . The awards recognize best-in-class initiatives, technologies and leadership in the asset and wealth management industry. "Since the Tailored Shareholder Reports rule took effect in July 2024 , Broadridge's solution has empowered 342 fund companies by processing more than 14,000 CUSIPs, delivering more than 140 million emails and executing approximately 57 million mailings," said Jane Kirkland , Head of Mutual Fund Regulatory Communications at Broadridge. "This industry recognition underscores Broadridge's commitment to being the trusted and transformative partner for shareholder communications." Broadridge's end-to-end solution for funds and fund administrators offers composition, iXBRL tagging, SEC-compliant layered web hosting, and comprehensive SEC filings, along with a personalized communication experience for fund investors that efficiently combines and delivers TSRs just for the funds and share classes investors hold within their accounts. Far more than a simple redesign, the SEC's requirements demanded intricate summarized disclosures aimed at helping individual investors better understand and manage their mutual fund and ETF investments with greater clarity and transparency. In addition, Broadridge's solution facilitated effective oversight of the regulatory reporting process by incorporating robust workflow and approval capabilities About Broadridge Broadridge Financial Solutions (NYSE: BR ), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries. For more information, please visit www.broadridge.com . About Nicsa Nicsa is a not-for-profit trade association striving to connect all facets of the global asset and wealth management industry in order to develop, share, and advance leading practices. For over sixty years, Nicsa has promoted a collaborative environment where members come together to help strategically address the industry's most vital issues. Broadridge Contacts: Investors: Edings Thibault Head of Investor Relations, Broadridge [email protected] Media: Gregg Rosenberg Global Head of Corporate Communications [email protected] SOURCE Broadridge Financial Solutions, Inc.In a bold move aimed at hitting the company where it hurts most, Amazon workers are striking just in time for Christmas, its busiest, most profitable time of year. On Friday, thousands of workers at Amazon authorized a strike, saying Amazon refused to recognize their union and negotiate a contract at a New York City facility, per ABC News . Amazon workers in New York gave the tech giant until Sunday, December 15, to begin negotiations for a union contract; otherwise, they said workers at the JFK8 warehouse in Staten Island along with other Amazon workers around the country would strike, according to The Guardian . (In 2022, workers at the JFK8 warehouse became the first Amazon warehouse to unionize, and the International Brotherhood of Teamsters currently represents roughly 5,500 workers there.) It’s a shining example of how many American workers are not only organizing, but also getting bolder and more assertive in their demands for higher wages and better working conditions in a tight labor market with high inflation. (This year, countless layoffs have plagued many industries, particularly media and technology: Here’s a comprehensive list of 2024 tech layoffs .) | As Amazon workers prepare to strike when the iron is hot, they follow a growing trend among American workers who are boldly timing their strikes at critical times when their employers need them most. In just the last few months, we’ve seen the New York Times Tech Guild walk out on election night, when media coverage is critical; airline workers refuse to fly ahead of Thanksgiving, the busiest travel day of the year; and now, an Amazon strike when workers must deliver a huge volume of holiday gifts. And for some, the strategy seems to be paying off. The New York Times Tech Guild reached a tentative deal with the newspaper for a three-year contract that will guarantee wage increases and “just cause” job protections after members ratify it, according to the Washington Post . Not too shabby. Meanwhile, as Americans’ collective anger and frustration with big corporations grows, as seen by the surprising social media outpouring against UnitedHealthcare after the December 5 shooting of CEO Brian Thompson, it would seem many Americans are more likely to align their sympathy with Amazon’s workers’ demands, especially since Amazon founder Jeff Bezos is one of the richest men in the world. Bezos has consistently opposed unionizing campaigns in his own shop and Amazon’s anti-union efforts have been well documented . In another blow to workers, Bezos recently pledged to donate some $1 million to President-elect Donald Trump ’s inaugural fund, to, as The Wall Street Journal puts it, “shore up ties with the incoming administration,” which many expect will be unfriendly to labor unions. On top of that, the Journal reported Amazon plans to stream Trump’s inauguration through Prime Video, a separate, equally expensive in-kind donation that will cost another $1 million. That may not be a good look for Bezos or Amazon’s leadership leading up to its workers’ strike.
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JHVEPhoto Iron ore miner Rio Tinto Group ( NYSE: RIO ) is down by 12% since I wrote about it two months ago. This isn't surprising. Even at that time, upside was unlikely going by the state of the commodity market. But -- Manika is a macroeconomist with over 20 years of experience in industries including investment management, stock broking, investment banking. She also runs the profile Long Term Tips [LTT], which focuses on the generational opportunity in the green economy. Her investing group, Green Growth Giants , takes the theme a step further from LTT with a deeper dive into opportunities presented by the segment. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Rio Tinto: Further Downside Likely