BP to write down oil and gas assets, expects quicker ‘transition to a lower carbon economy’

first_imgBP to write down oil and gas assets, expects quicker ‘transition to a lower carbon economy’ FacebookTwitterLinkedInEmailPrint分享Bloomberg:BP Plc will make the biggest writedown on the value of its business since the Deepwater Horizon disaster a decade ago, as the coronavirus pandemic hurts long-term oil demand and accelerates the shift to cleaner energy.In a dramatic revision that prompted questions about the affordability of its dividend, the British giant cut its estimates for oil and gas prices in the coming decades between 20% and 30%. It also expects the cost of carbon emissions to be more than twice as high as before.Under its new Chief Executive Officer Bernard Looney, BP has been quicker than many of its peers to plan for a low-carbon world. Yet moves toward a more sustainable future are bringing financial pain today, and investors are asking fundamental questions about the value of oil majors.BP is reviewing its projects against those new price assumptions, which could result in some oil discoveries being left in the ground. The risk of so-called stranded assets is just one of many challenges the industry faces as trends in energy consumption shift and policymakers pursue green targets.The company will take non-cash impairment charges and write-offs in the second quarter, estimated to be in a range of $13 billion to $17.5 billion post-tax. That could increase gearing — the ratio of net debt to equity — toward 50%, by far the highest in the industry, said RBC analyst Biraj Borkhataria.“BP now sees the prospect of the pandemic having an enduring impact on the global economy, with the potential for weaker demand for energy for a sustained period,” the company said in a statement on Monday. “The aftermath of the pandemic will accelerate the pace of transition to a lower carbon economy.”[Laura Hurst and Amanda Jordan]More: BP writes off billions as Covid redraws rules of oil demandlast_img read more

Today: NAFCU at NCUA on small-dollar lending, PACE meeting on robocalls

first_img continue reading » NAFCU today will be at NCUA headquarters for a meeting on small-dollar lending and credit unions’ involvement in such programs. It will also represent credit unions during a Professional Association for Customer Engagement (PACE) meeting regarding robocalls.NAFCU Senior Regulatory Affairs Counsel Michael Emancipator will be at the NCUA today to discuss various small-dollar lending program initiatives. Earlier this month, NAFCU hosted a small-dollar lending working group discussion on the CFPB’s payday lending rulemaking, among other provisions, with representatives from several NAFCU-member credit unions, Pew Research Center, Center for Financial Services Innovation and Filene Research Institute.NAFCU Regulatory Affairs Counsel Ann Kossachev will attend the PACE Communication Protection Coalition meeting. PACE has organized a coalition of stakeholders to address best practices to mitigate the negative impacts of robocall processing for legitimate communications. Today’s meeting will include representatives from the financial services industry. NCUA headquarterscenter_img 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Credit unions, community banks can pool resources to fight money laundering

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Federal regulators ruled Wednesday (October 3) that credit unions and community banks can pool resources for anti-money laundering compliance so that they can protect against financial crimes and at the same time keep their costs down.The Wall Street Journal, citing a statement from the Federal Reserve, the Federal Deposit Insurance Corp., the Treasury Department, the Office of the Comptroller of the Currency and the National Credit Union Administration, reported the decision was borne out of a working group the agencies created to improve anti-money laundering processes. Sigal Mandelker, the Treasury undersecretary for terrorism and financial intelligence, told the Wall Street Journal that the decision is part of a broader effort to strengthen money laundering defenses in the financial system in the U.S. “Sharing resources in no way relieves a bank of this responsibility,” the statement said. “Nothing in this interagency statement alters a bank’s existing legal and regulatory requirements.” The statement noted that while banks could benefit from pooling resources, they should approach sharing resources as they would any other business relationship. continue reading »last_img read more

For Artists and Poets, the East End Is No Dead End—Just Another ‘Hole in the Ocean’

first_imgTo the rich vacationersour lives meant nothing.We kept investing them with meaninguntil the enterprise broke us.…I see these same sights,bleared now.  Wordsbroken into stony syllables,blackened in remembrance. Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York By Sandy McIntoshAt the Los Angeles Convention Center this March, 12,000 to 15,000 writers, members of the nation’s graduate creative writing programs, will meet in workshops and networking parties at the annual Association of Writers and Writing Programs gathering. They’ll be representing thousands of fellow writing students, many of whom will shortly graduate as fully qualified poets.That’s a lot of fully qualified poets!Given the lack of openings for poets in the job market, one question they must ask themselves is: “What will happen to me outside the walls of academia? Has there ever been a real, vital life out there for the serious writer?”My new memoir, A Hole In the Ocean, a Hamptons’ Apprenticeship, offers an answer.Back in 1970, when the East End of Long Island was a quiet, difficult-to-access refuge for painters and writers who’d washed up on its shores from cities and towns around the world, I enrolled as an English major at Southampton College. The college, now Stony Brook/ Southampton, was then the furthest outpost of Long Island University. It had been founded to teach the children of the year-round residents, the workers living in the towns along the East End shore.What I found were teachers unlike any I’d met. Not merely scholars, these professors were the real thing: writers and artists of national, even international repute, quietly spending their winters in a warm and collegial place.These were artists such as Willem de Kooning, Ilya Bolotowsky and Ibram Lassau, and award-winning writers such as H. R. Hays, David Ignatow and Charles Matz.Why had these accomplished artists gathered at a small, rural college? De Kooning once explained it to me: “We’re here in the wintertime. We work in our studios all day and some of us want to get together at night, usually at some bar. Then people get drunk and into fights and the police come. But now we can meet at the college and talk, and we don’t get into too much trouble.”A Hole In the Ocean is my recollections of these unique artists I got to know on campus and off. Instead of classroom instruction, these craftsmen offered me their criticism, as well as their friendship, for many years to come. In return I played unofficial chauffeur, therapist, straight-man and witness to their successes and foibles.And I learned that it was possible to live as a writer and as a member of a supportive—if  incessantly quirky—artists’ community.One summer evening in 1970, after my shift pumping gas, I was driving home along Springs Fireplace Road in East Hampton when I had to brake suddenly to avoid hitting a tall, thin man on a bicycle.  He had swerved out of a side road, and crossed in front of me without looking. I pulled over to catch my breath.  As I drew closer, I recognized Willem de Kooning, whom I had met at Southampton College during my first year. I watched as he rode along, pedaling uncertainly, his bike weaving figure eights from right to left.  At one point he seemed to lose interest in pedaling. The bike came to a stop, stayed motionless for a moment, then pitched over to the right, its rider falling gently into the thick, uncut brush and rolling two or three times until coming to rest under some trees.  I shut off my car and ran over to him.  He didn’t seem hurt; in fact, he was smiling pleasantly, his eyes closed as if dreaming. I touched his arm and he looked up.  He was okay, he told me, but could I give him a ride home? It was getting dark and he had no light on his bike.I helped him into my car and loaded his bicycle into the back seat. He told me to continue east, then take the right fork before Barnes’ grocery store.  He was living in a farmhouse opposite the Green River cemetery, he said, but this was only temporary, until they finished building his new studio.  “I don’t want them to finish the damn thing,” he said with some bitterness.  I asked why not? “Because when it’s finished, I think I will be finished, too.”We drove on for a few minutes until he told me to stop. “I live right here,” he said.  He looked in the direction of the cemetery and pointed: “All my friends are buried over there.”I was curious. I helped him out of the car and to his front door, and when he was safely inside, I crossed the road to the cemetery.It seemed a conventional graveyard with moldering tombstones.  But then I caught sight of a grave marker that was odd.  It was an obsidian monolith standing about four feet high. Engraved on its face was a man’s signature: the painter Stuart Davis.  Looking around in that section of the cemetery, I found other oddly shaped stones, each with the name of an artist or a writer I had heard of.  In front of Stuart Davis’ grave was a white marble square that marked the grave of Ad Reinhardt.  I discovered the flat slate grave maker of Frank O’Hara, the New York School poet who had been run over by the only vehicle on Fire Island. Inscribed on it was his quotation: “Grace to be born and live / as variously as possible.” Just north of O’Hara’s grave was that of the writer A. J. Liebling, the war correspondent, boxing expert, world-class eater, and, for many years at The New Yorker, a critic of the press.  Finally, at the end of the cemetery, almost in the woods, a great boulder with a bronze plaque marked Jackson Pollock’s grave.  I continued on, following the horseshoe road until I came to a fence. On the other side were objects—gravestones, I thought—that were extremely weird, even grotesque, resembling Native totem poles.  I wondered about that section of the cemetery for a long time. (In fact, I learned eventually, the odd objects were not grave markers but rough carvings in the side yard of the sculptor Albert Price’s house.)  Later I described the little graveyard to my friends as a place “with dead people on one side and artists on the other.”  I visited the place often, even picnicking and napping on an artist’s plot that was behind some trees, out of public view.The cemetery was a quiet place in all seasons, and from Labor Day to Memorial Day around 1970 the noisy Hamptons’ main streets were quiet, too. The only businesses open after 8:00 p.m. were the bars and cafes, each town supplied with one or two of each. Standing  on Main Street you could actually hear the crashing of ocean waves a half-mile away, a sound reverberating against the empty sidewalks and closed summer stores, surprisingly primitive and frightening.——Green River Cemetery has been expanded by at least an acre or two behind Pollock’s boulder.  Artists and writers continue to be buried there, and who they were and what they are famous for reflects something of the upscale attraction of the modern Hamptons. Filmmakers such as Stan Vanderbeek and producer Alan Pakula are buried there, as is the celebrated French chef, Pierre Franey, to name three.  The cost of graves, I understand, is prohibitively expensive, except for the very wealthy—as is everything else thereabouts. Even so, the cemetery was silent at my last visit as all of the Springs had once been, even at the height of summer.  I reflected on my encounter with de Kooning long before, and had the sobering thought that in subsequent summers a tipsy artist wobbling on his bicycle in a Hampton’s road would have little chance of surviving the tourist traffic, which is grim, relentless and unforgiving.  In fact, I realized, the easy access I had in my time to the wonderful artists and writers living there may no longer be possible.  These days they all seem to remain cloistered in their compounds, their public appearances protected by bodyguards.At Canio’s bookstore in Sag Harbor some years ago, Harvey Shapiro  read a poem called “For Armand and David” that touched on feelings shared by those of us who have considered the Hamptons a refuge for our poetic selves.“When we were young,” Shapiro’s poem begins:And our children were young—the water was such a mystery,the sky so blue.  Everythingbreathed promise.  The languagewould blaze forth,did blaze forth… At the end of 1970—and as we did each year back then—Armand Schwerner, David Ignatow, Harvey Shapiro, Hoffman Hays, Allen Planz, Sy Perchick and others of us gathered during November or December to celebrate some last event before winter. A few times I remember Armand grunting a kind of benediction to end the season.“And now,” he’d pronounced in his ominous tones, “for four months of shit.”We’d look up into the grey sky, and that would be it till we’d meet again in spring.Sandy McIntosh is the author of eleven volumes of poetry, as well as books on business, cooking, and a best-selling computer software program, Mavis Beacon Teaches Typing! He taught creative writing at Hofstra University and Long Island University. He was managing editor of LIU’s Confrontation magazine. He is publisher of Marsh Hawk Press.(Featured photo illustration: Ken Robbins)last_img read more

For those Americans who put us through this hell, nothing will be forgiven, or forgotten

first_imgBut this is a guy who intentionally turned his back on Americans in the face of a national emergency. A quarter million Americans are dead, and hundreds of thousands more are likely to die, because he prioritized his own reelection prospects over saving American lives. He lied about the danger of COVID-19, over and over, causing other people to lie as well. That’s not forgivable—it’s actually beyond any reasonable capacity to forgive, or forget.And yet 70 million or so Americans supported that, tried to rationalize it, and they went right back and voted for Trump. That’s what I can’t get past. Is there anything, in fact, that this person could have done that would have been a bridge too far for them?And what he’s doing right now is unforgivable as well. There’s nothing unusual about this election, other than the fact that it’s occurring during a pandemic. There has been no “fraud” or any cause for bringing 10 lawsuits to try to stop votes from being counted. It’s simply anti-American behavior. If it weren’t so dangerous, it would actually be embarrassing.- Advertisement – – Advertisement – One thing I noticed about the campaign was the preponderance of the “in-your-face” element of Trumpism. From the flags draped on pickup trucks to the obnoxious, oversized signs in their yards, to the fact that half of the voters in my precinct showed up in some type of Trump garb, whether it was a stupid hat or a T-shirt, it made me realize that these people were making known their aggression toward me. Whereas Joe Biden voters certainly supported their candidate, it was evident that Trump supporters wielded their allegiance like a bludgeon. It was intended to offend, to threaten; not only to hurt others, but to negate their existence.In other words, it was just what you’d expect by taking a magic marker out and scrawling the word “FASCIST” across huge swaths of the country. And like spoiled, full-grown infants, they were proud of themselves, as they basked in their imagined power. But there was another type, too, like the GOP poll observers I worked next to on Tuesday. Buttoned up in Oxford shirts and sweaters, they kept their nature well-disguised. Gay also talks about these types, the doctors, the lawyers, the so-called educated among Trump’s base of support.The ones who want to seem urbane. The ones who want to be invited to all the good parties. They lie to pollsters. They lie to family and friends. And when they fill out their ballots, they finally tell the truth.The truth, as Gay observes, is that what we’re seeing is all about identity politics—just not the kind conservatives would prefer to talk about. As she puts it, “There is no greater identity politics than that of white people trying to build a firewall around what remains of their empire as this country’s demographics continue to shift.”So we continue to have two Americas: one which respects democratic institutions and is willing to work for the betterment of society as a whole; and one willing to dispense with those same institutions for their own gain, by surrendering whatever shred of decency and integrity they have to someone like Donald Trump.And as Gay notes, the past few days have proved they’re still out there. They’re not going anywhere, no matter what words of solace or unity are offered.They are not concerned with the collective, because they believe any success they achieve by virtue of their white privilege is achieved by virtue of merit. They see equity as oppression. They are so terrified, in fact, that as the final votes were counted in Detroit, a group of them swarmed the venue shouting, “Stop the count.” In Arizona, others swarmed a venue shouting, “Count the votes.” The citizens of this version of America only believe in democracy that serves their interests.It will be a relief to have a president who I can comfortably refer to as a “President.” Who actually works for the good of the American people, and who doesn’t spend all his time trying to divide us all with hatred. It will be a relief not to wake up each day to some new horror or angry, monstrous  tweet from an unbalanced sociopath.But I won’t have any more illusions about my fellow citizens. I won’t forget this or forgive them for putting the rest of us through this nightmare. As Gay says, by now, I know exactly who they are. And yet, people are supporting him in this.I guess I’m wondering—and I’ve wondered this a lot over the past four years—what the hell happened to these folks?  Did they learn nothing in high school? Or college, if they went?  Didn’t their parents give them some sense of what it means to be an American citizen?Roxane Gay, writing for The New York Times, is shaking her head at this naive white boy.This is America. This is not an aberration. This is indeed our country and who the proverbial “we” are. The way this election has played out shouldn’t be a surprise if you’ve been paying attention or if you understand racism and how systemic it really is. Polling can account for a great many factors, but unless they ask about the extent to which racism motivates voters — and find a way to get honest answers on this topic — they will never be able to account for this.Some Trump voters are proud about their political affiliation. They attend his rallies. They drive around with their cars draped in Trump posters and flags and other paraphernalia. They proudly crow about America and pride and nationalism. They are the subjects of fawning profiles that aim to explain their voting tendencies as the result of “economic anxiety,” as if they are tragically misunderstood. They aren’t. We know exactly who they are.- Advertisement – This was a close election, far closer than it should have been, and there is simply no excuse for that. Yes, suburban women turned against Trump and so did a smaller group of college-educated white men, but by and large, in the face of record-shattering turnout, most of the same people who voted for him in 2016 voted for him again. And that is just sick—there is no other word for it.I can understand people voting for a scumbag like Trump because their 401ks did well over the past four years. I get the fact that most Americans don’t give a damn about anything but themselves; that’s been true forever, and it isn’t news.- Advertisement –last_img read more

Raymond van Barneveld insists he’s refreshed and hungry as he plots competitive PDC comeback | Darts News

first_img 5:31 Take a look at all of Raymond van Barneveld’s nine-darters captured by the Sky Sports cameras! – Advertisement –

Darren Bent urges Liverpool to sign former Arsenal transfer target David Raya to replace Adrian

first_imgLiverpool manager Jurgen Klopp has been urged to sign David Raya (Picture: Getty)Darren Bent has urged Liverpool to sign Brentford goalkeeper David Raya to replace back-up goalkeeper Adrian.Reds’ No. 1 Alisson is currently sidelined with a shoulder injury and his deputy, Adrian, made another mistake during last weekend’s incredible 7-2 defeat to Aston Villa.While the summer transfer window closed last week, domestic deals can still be completed up until October 16.Former England striker Bent believes Premier League champions Liverpool ‘need to address’ their goalkeeping situation and says they should target Raya.ADVERTISEMENTThe 25-year-old has impressed for Championship club Brentford over the past 18 months, with his performances attracting interest from Arsenal before they signed Alex Runarsson as Bernd Leno’s deputy.AdvertisementAdvertisementBent told Football Insider: ‘For me, I think it is an issue that they [Liverpool] need to address. But where can you find a backup goalkeeper now? Metro Sport ReporterSaturday 10 Oct 2020 11:18 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link3.2kShares Advertisement The goalkeeper has impressed for Championship club Brentford (Picture: Getty)‘We are talking about the Premier League champions so it shouldn’t be that hard but where do you get a goalkeeper that is going to be happy coming into the team to play for six weeks until Alisson comes back and then you’re back on the bench.‘It has to be a concern because they have seen first-hand what happens when you don’t have an adequate backup goalkeeper.‘The only one who I can think of as a potentially good back-up goalkeeper is David Raya, maybe him. At the highest level now you can’t just rely on your one goalkeeper. Darren Bent urges Liverpool to sign former Arsenal transfer target David Raya to replace Adriancenter_img Advertisement Comment Klopp speaks after Liverpool demolished 7-2 by Aston VillaTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 9:25FullscreenKlopp speaks after Liverpool demolished 7-2 by Aston Villahttps://metro.co.uk/video/klopp-speaks-liverpool-demolished-7-2-aston-villa-2262886/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.‘The days of Brad Friedel or David James where you can go so long without getting an injury, seasons without getting an injury, seem to be a thing of the past.‘I think you need two very good goalkeepers now. They need to find one whose close to Alisson, he’s never going to be as good as Alisson.’Meanwhile, Liverpool have also been urged to address their goalkeeping situation by signing Jack Butland from Stoke City.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page.MORE: Man Utd slammed over ‘desperate’ deadline day signings by Liverpool legendMORE: Gin Wijnaldum rates new Liverpool signings Thiago, Jota and Tsimikaslast_img read more

Younger buyers dominate sales at Gold Coast development

first_imgThe Jefferson, Palm Beach.“While The Jefferson has wide appeal, young professionals and families, along with empty nesters, have been quick to secure an apartment that represents excellent value in a sought-after suburb,” he said.First-home buyers Scott Johnstone and Sarah Major have been renting in Palm Beach since 2015. The pair had been looking at older apartments but soon discovered The Jefferson, signing a contract just two days after seeing the plans. The Jefferson, Palm Beach.“We started looking for places that fitted our budget but could only find older-style apartments with two bedrooms and one bathroom,” Mr Johnstone said.“Just as we thought we would have to settle for a second-hand place, we heard about The Jefferson.”The couple have secured a two-bedroom, two-bathroom apartment on the fifth floor.Lacey Group director Adam Lacey said The Jefferson was designed to capture the style and elegance that justified its premier position.“In partnership with BDA Architects, we have created apartments that are functional in their design while paying homage to their beachside location,” he said.The Jefferson will be constructed by Stokes Wheeler, and is expected to be completed by early next year. First home buyers Scott Johnstone and Sarah Major have bought a two-bedroom apartment at The Jefferson, Palm Beach.The lure of a beachside lifestyle has seen younger buyers flocking to a new Palm Beach apartment development.Almost 50 per cent of sales at The Jefferson – a collection of 46 one, two and three-bedroom apartments located on Jefferson Lane – have gone to buyers under the age of 45, with more than $21 million in sales to date.center_img The Jefferson, Palm Beach.The strong figures prompted the developer, Lacey Group, to start construction last week.Tony Holland, of McGrath Estate Agents, said 14 of the 33 apartments sold were to buyers between ages 25-45, proving The Jefferson had resonated with the new wave of residents now calling Palm Beach home.More from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus21 hours agolast_img read more

Global cancer cases reach 14 million

first_img Share X-ray showing lung cancerThe number of people being diagnosed with cancer in the world each year has leaped to more than 14 million, the World Health Organization says.The data for 2012 shows a marked rise on the 12.7 million cases in 2008.In that time the number of deaths has also increased, from 7.6 million to 8.2 million.The rising burden of cancer is being driven by a rapid shift in lifestyles in the developing world to more closely reflect industrialised countries.Rising rates of smoking and obesity as well as people living longer are contributing to the rise.Lung cancer, which is mainly caused by smoking, was the most common cancer globally, with 1.8 million cases – about 13% of the total.The WHO also described a “sharp rise” in cases of breast cancer. Both the incidence and mortality have increased since 2008. The disease in now the most common cancer in women in 140 countries.Dr David Forman, from the WHO’s International Agency for Research on Cancer, said: “Breast cancer is also a leading cause of cancer death in the less developed countries of the world.“This is partly because a shift in lifestyles is causing an increase in incidence, and partly because clinical advances to combat the disease are not reaching women living in these regions.”The WHO said there was an “urgent need” for the advances made in detection, diagnoses and treatment of breast cancer to be implemented in developing nations.The WHO predicts the number of cancer cases will soar to more than 19 million a year by 2025.BBC News 18 Views   no discussions Share Sharing is caring!center_img HealthLifestyle Global cancer cases reach 14 million by: – December 12, 2013 Tweet Sharelast_img read more

Search still ongoing for missing four year old

first_img 10 Views   no discussions Sharing is caring! Share Tweet Photo credit: dlt90s.comThe search for missing four year Nicoli Joseph of Layou who went missing last week is still ongoing.Police Public Relations Officer Inspector Claude Weekes reports that there has been no new development relating his whereabouts.“There is no new development with respect to four year old Nicoli Joseph. Last week Thursday, somewhere about five in the afternoon he went to the Layou River. Of course, his house is close enough to the river and it would appear that he was unsupervised and when the mother wasn’t seeing him she raised the alarm” Weekes said.Inspector Weekes also reports that there has been a search ongoing including villagers and the Police Coast Guard, however the boy has not yet been found.“The Police Coast Guard and other police personnel including a few of the villagers, the fishermen they went diving and have been looking all around but as I speak with you the four year old has not been found.”The search for the Nicoli continues as the Police Department continues their investigations into this matter.Dominica Vibes Newscenter_img LocalNews Search still ongoing for missing four year old by: – July 19, 2011 Share Sharelast_img read more