Trump, GOP commit a special robbery

first_imgCategories: Letters to the Editor, OpinionLines from an old Woody Guthrie song seem to apply to the tax bill recently passed in Congress. Speaking of different forms of thievery, the song goes:“Yes, as through this world I’ve wandered I’ve seen lots of funny men; some will rob you with a six-gun, and some with a fountain pen.”With our dear Donald signing the tax bill, we have a perfect example of fountain pen robbery. The thieves are some of the rich and very rich, including many members of Congress.The victims are the rest of us.Arnold SeikenSchenectadyMore from The Daily Gazette:EDITORIAL: Find a way to get family members into nursing homesMotorcyclist injured in Thursday afternoon Schenectady crashAnderson starts, but Dodgers finish off NLCS winEDITORIAL: Urgent: Today is the last day to complete the censusSchenectady High School senior class leaders look to salvage sense of normalcylast_img read more

London mews heritage lives on in landed estates

first_imgLondon’s three settled estates – the Cadogan, the Grosvenor and Howard de Walden – have combined to sponsor an estate agent, Sebastian Dekker, to compile a book on London’s mews houses.Dekker, who works for the Chelsea firm of Bective Davidson, visited more than 1,000 mews houses, while Bill Burlington photographed them.Dekker made the point that mews houses – originally for horses and grooms – were always let on short leases. The leases extended to 99 years in the 18th century.By the 1920s, people converted them to homes, not because they no longer used horses and carriages, but because they could no longer afford servants. Today more than 60 mews homes are listed buildings.‘There is a tendency to be over nostalgic about the mews,’ Dekker wrote.‘Yet the mews have had to constantly adapt to keep pace with the new demands of their occupants… [They] can be as architecturally current and influential as any form of building.’ Mews Style is published by Quiller Press and costs £20.last_img read more

Planning

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Bill to Bulldoze CPO injustice

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Deutsche auction

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Charity begins at home as Dudley redevelops

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Jetting in to Luton

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On the one hand, he was plastered …

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Indonesian stocks soar by 3 percent as authorities’ measures calm market players

first_imgRead also: IDX, BI cushion virus-battered financial markets as investors dump Indonesian assets“The market players seem to have calmed themselves down from their self-induced panic last week,” Jasa Utama Capital equity analyst Chris Apriliony told The Jakarta Post. “That’s why the JCI rebounded really high.”The government and the central bank’s effort to maintain the rupiah’s stability and the Financial Services Authority (OJK) and the IDX measures and proposed policies to anchor the stocks helped the index bounce back, he added.Bank Indonesia (BI) announced five measures to stabilize the rupiah on Monday while the bourse halted short-selling transactions to prevent the stock market from falling deeper after President Joko “Jokowi” Widodo announced Indonesia’s first two confirmed cases of COVID-19. Indonesian stocks jumped by more than 3 percent on Tuesday morning, reversing deep losses in recent days due to the spread of COVID-19, as market players regain confidence following authorities’ efforts to calm the market down.The Jakarta Composite Index (JCI), the main gauge of the Indonesia Stock Exchange (IDX), soared 1.31 percent to 5,431.30 when Tuesday’s session was opened. The uptrend then continued as the index climbed to 3.09 percent to 5,527.2 at 11:52 p.m. Jakarta time.The benchmark index ended Monday with a deep correction of 1.68 percent, sending it to its lowest level since February 2017. Over the last week, the benchmark stock index has fallen 7.3 percent. The OJK previously said to allow companies to buy back their shares without approval from a shareholders meeting.The JCI’s bullish movement on Tuesday morning was in line with regional stock market indices. Tokyo increased 0.2 percent, Shanghai jumped 1.36 percent, Hong Kong strengthened by 0.69 percent and Seoul soared 1.83 percent.Read also: BI cuts reserve ratio, frees up $3.2b liquidity in local banks amid market sell-offThe consumer sector index led the JCI strengthening on Tuesday morning, recording a jump of 3.54 percent as share prices of consumer stocks at pharmaceutical firm PT Kimia Farma and food manufacturing giant PT Indofood Sukses Makmur jumped 9.8 percent and 6.4 percent respectively.Chris said one of the reasons for the sector index’s jump was the public’s panic buying on Monday, causing food products and supplies to fly off the supermarket shelves.“However, if we look closely, the share prices of several consumer goods stocks have become very cheap due to the rout and prompted investors to buy more of the stocks,” he said. center_img Topics :last_img read more

Trading halted for first time since 2008 over pandemic

first_imgThe Indonesia Stock Exchange (IDX) suspended equity trading 30 minutes before Thursday’s session ended as the main gauge dropped deeper than the bourse’s new auto rejection level to a figure unseen in almost four years.The Jakarta Composite Index (JCI) crashed more than 5 percent to 4,895.75 amid a global market rout following the World Health Organization’s declaration of COVID-19 as a pandemic.“Stock trading was halted for 30 minutes, but because this occurred 30 minutes before the close of trading, trading is technically closed now,” said Fakhri Hilmi, deputy commissioner for capital market supervision at the Financial Services Authority (OJK). “Today has closed; it’s all done.” The pneumonia-like illness has spread to hundreds of countries around the world, disrupting business activity in economic giants, such as China, the United States, Japan and South Korea.Tokyo dropped 4.4 percent on Thursday, while Hong Kong fell 3.7 percent, Singapore plunged 3.8 percent. London fell deep in the red at 7.7 percent on early trading while S&P 500 futures on Wall Street indicated a 7-percent fall at the opening.“[Market players] are concerned that the pandemic will disrupt the global supply chain and eventually slow global GDP [gross domestic product],” said Indonesia Equity Analyst Association (AAEI) chairman Edwin Sebayang on Thursday.The IDX has been rolling out policies to anchor the index, which has been volatile in the past weeks.On Monday, the IDX issued a new auto-rejection regulation that capped stock prices falling to a maximum of 10 percent for stocks at all price ranges from a variation of 20 percent to 35 percent depending on the price range. It also decided to temporarily halt short selling on Monday until further notice to help anchor the index.On Tuesday evening, the bourse issued a new trading suspension regulation. It stipulates that the IDX will halt stock trading for 30 minutes if the main gauge falls by more than 5 percent.If the index keeps falling to more than 10 percent after the first suspension is lifted, the bourse will halt trading for another 30 minutes. Trading will halt for the whole session if the JCI continues to plunge deeper than 15 percent.Previously, the bourse only suspended trading when the index fell by 10 percent.Analysts, however, said the new auto rejection policy did little to prevent the index from falling far deeper.“It’s not effective. It instead adds panic to market players who probably think that tomorrow [Friday] the index will drop deeper so they conduct selling sprees,” said Panin Sekuritas equity analyst William Hartanto. He expected the JCI to move between 4,600 and 5,000 this month.“It’s hard to predict where the bottom is,” said Trimegah Securities head of research and foreign institutional equity Sebastian Tobing. “Cash is king for now.”Topics : This is the first time the IDX suspended stock trading since the 2008 financial crisis. On Oct. 8, 2008, the JCI free fell 10.38 percent to 1,451.67, prompting the bourse to halt trading for two days before resuming activity on Oct. 13.On Thursday, foreign investors dumped Rp 256.6 billion (US$17.5 million) worth of stocks more than they bought, resulting in Rp 7.2 trillion of net sells so far this year. The index itself lost 22.28 percent of its value as of Thursday, the third-worst among its Southeast Asian peers after Thailand and the Philippines.Circuit breakers were also triggered in Thailand and the Philippines after each of their benchmark gauges slumped 10 percent, the most in Asia, Bloomberg reported.The rupiah exchange rate against the greenback depreciated by more than 1 percent to 14,552 on Thursday. Bank Indonesia recorded foreign outflows of Rp 31.76 trillion worth of government bonds and Rp 4.87 trillion worth of stocks so far this year as foreign investors flock to safe-haven assets.last_img read more