Google+ WhatsApp Main Evening News, Sport and Obituaries Tuesday May 25th Pinterest By admin – May 4, 2011 Previous articleTaoiseach hits out at people responsible for firesNext articleICSA back calls for compensation for those affected by fires admin Man arrested on suspicion of drugs and criminal property offences in Derry Soccer – Finn Harps confirm new management team Donegal to get 50 tickets for Armagh but not for spectators Felix HealyThe Board of Directors of Finn Harps have confirm that Felix Healy and Peter Hutton will take over as Harps’ management team with immediate effect. Felix Healy returns to the club he led to the First Division title in 2004 as Director of Football, while Peter Hutton arrives at Finn Park as Manager. In addition, ‘A’ Team Manager Paddy Foy will combine his current role by becoming Assistant Manager to Peter Hutton.Harps Chairman Joey O’Leary was delighted to welcome the pair to Harps. “I’m sure that news of Felix and Peter’s appointments as our new Management Team will receive a very positive reaction from our Supporters. Both men are big names in Irish Football who will bring with a wealth of experience and knowledge to Finn Harps FC. “Peter HuttonFelix Healy is a former player and manager with the club. He played the first seven games for Harps during the 1978/79 season, including both legs of the UEFA Cup 1st Round fixture against English side Everton, before leaving Finn Park to sign for Port Vale. Healy returned to Finn Park in 2004 after Noel King’s resignation as Manager. He led Harps to the First Division title in his first season in charge, recording a record haul of points in the process. Although he never played with the club, Peter Hutton has strong links to Finn Harps. His father, Peter senior, played 228 games for the club during it’s first decade in the League of Ireland, and was a member of the 1974 FAI Cup winning team. Twitter Facebook Pinterest Facebook Google+ RELATED ARTICLESMORE FROM AUTHOR O’Kane and McCarter take up coaching rules 365 additional cases of Covid-19 in Republic Twitter NewsSportx Adverts WhatsApp Further drop in people receiving PUP in Donegal
The world is unlikely to reach the international goals set to reduce malnutrition or maternal and child mortality by 2015, authorities on global health and nutrition say. They believe that improving child nutrition is a key way to lessen all three.Experts gathered at the Harvard School of Public Health Wednesday (April 14) for a symposium presented by the Harvard Nutrition and Global Health Program at the Harvard Initiative for Global Health. The daylong session drew authorities from around the world to discuss how to improve nutrition and how that would influence areas beyond public health, such as education and the economy.The event was hosted by Wafaie Fawzi, professor of nutrition and epidemiology, and Christopher Duggan, associate professor of nutrition and of pediatrics.Nutrition Department chair Walter Willett introduced the session by outlining the eight Millennium Development Goals, adopted at a United Nations summit in 2000. The symposium focused on three of the eight goals: halving extreme malnutrition and poverty, and reducing child and maternal mortality. The other goals include guaranteeing universal primary education; gender equality; fighting AIDS, malaria, and other diseases; protecting the environment; and developing a global partnership for development.Willett said each goal tackles an area of enormous challenge, but nutrition plays a role in achieving all of them. Though some nations, particularly those in East Asia and Latin America, have made progress toward achieving the goals, nations in Africa and South Asia have made little progress.“It’s pretty clear we’re headed for a major shortfall on many of these goals,” Willett said.In sub-Saharan Africa, for example, the percent of the population that is hungry slipped from 1990-92 to 2004-06, falling from 32 to 28 percent. But that number rose again, to 29 percent in 2008. In 1990, more than half of the children in South Asia were underweight. That number fell a bit by 2007, but still stood at 48 percent.Willett cautioned, however, that improving nutrition in the early years is not the end of the battle. Mexico, he said, successfully reduced its childhood mortality from undernutrition and infectious diseases, but has seen a rise in chronic diseases to the point where diabetes is the leading cause of death.Mickey Chopra, chief of health for UNICEF, said the Millennium Development Goals were adopted not out of some concept of charity flowing from rich to poor countries, but rather out of a broader sense of social justice. Today, 195 million children under age 5 in the developing world have stunted growth. Not surprisingly, he said, countries with high levels of child malnutrition also have high levels of child mortality.Chopra said that the first 1,000 days of life — roughly from conception through age 2 — are the most critical in avoiding malnutrition. Knowing that fact means interventions can be designed and prioritized to the best effect. Some countries such as Nepal and Malawi, though they have continued to experience economic and political hardships, still have been able to make progress toward the goals, through shifting priorities and targeted programs.But while some countries have progressed without major infusions of cash, Chopra said that most will need to increase spending on health care to improve their situations. Fifty-seven countries have critical shortages of doctors, nurses, and midwives.“It’s going to be extremely difficult, if not impossible, to achieve the goals without increasing money spent on health,” Chopra said.Meera Shekar, lead health and nutrition specialist at the World Bank, said India is a particularly troublesome spot. It appears unlikely that India will achieve the malnutrition development goal by 2015. But even if it did, it would only reach the level where many African countries are today, she said. Malnutrition rates in South Asian countries, she said, are nearly double those in some African countries. Statistics show that many underweight children in South Asia were already small when born, meaning that interventions in the womb might be important.It is generally accepted that poverty can lead to malnutrition, but malnutrition, in turn, can lead to poverty, Shekar said. Malnutrition leads to an average .7 grade loss in schooling and a seven-month delay in entering school. It eventually leads to a 10 percent or greater loss in lifetime earnings.
Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Federal Reserve Chair Janet Yellen has indicated that the Fed will consider raising interest rates at its December meeting for the first time since 2006. Her confidence appears to stem primarily from strong, consistent employment growth, though other key factors such as global market performance and terrorism threats are in the decision-making mix. Market players and market makers are watching closely, knowing the stock market ride might be coming to a close. One caveat to whatever reaction to a rate hike ensues is that investors have historically taken gains off the table in December only to drive the market upward in January, so I wouldn’t place too much credence in market behavior, assuming Yellen decides to test the waters with an increase tomorrow. Click here for a guide to the Federal Reserve powers and what happens when rates move. While some market reactions are more predictable than others, the relatively new phenomenon of marketplace (peer-to-peer) lending has yet to weather a rate hike. As a practical matter, we’re likely only talking about 25 basis points, which is hardly a shock to the system. This should be seen as more of a test, with the understanding that Yellen can halt further increases or even reverse her decision at the next meeting in the event of a sustained negative reaction in the markets or unforeseen external threats to the US economy. Most economists and market players appear to believe the ramifications of a slight increase can be effectively sustained. Goldman Sachs has even ventured to predict multiple increases in 2016.But it’s worth exploring the issue of liquidity, and where exactly capital in marketplace lending is being derived. Marketplace (Alternative) Lending OverviewFirst, it’s important to draw a distinction between the major players in this arena. Companies such as Prosper and Lending Club are the most well-known among the peer-to-peer lenders in the consumer loan space. (Click here for a list of marketplace lending definitions.) These companies are essentially exchanges that pair investors—both private and institutional—and borrowers. Think of it as “crowd-funding” consumer loans. Borrowers on these exchanges submit an application through an automated decisioning process that runs their credit and identifies certain risk factors before placing their requests on the exchange. Portions of their loan request, or in some cases the entire loan, can be purchased by an investor on the other side of the exchange. OnDeck, the largest US company in the small business space, provides a similar borrowing experience for small business owners in need of capital. There are hundreds of companies that have entered both the consumer and small business lending space but are considered “direct lenders.” These are companies that evaluate applications and decide whether or not to fund them directly. Here again, many are using institutional funds from banks, hedge funds or investment pools to fund loans. Some loans move entirely to the investors or are “participated” out in packaged investments. There are, however, “balance sheet lenders” who maintain the entire portfolio, thereby assuming all of the investment risk. Because the lending criteria is more automated and unsecured, rates on these investments are typically much higher than rates offered by traditional lenders. Consumers with compromised credit looking to pay down student loans or credit card debt are typically the prime targets for the consumer exchanges and direct lenders. Likewise, small businesses that have been locked out of the capital markets, regardless of their creditworthiness, have found a haven in this type of lending arrangement. Searching For YieldThe growth of marketplace lenders such as Prosper, Lending Club and OnDeck has caught the attention of Wall Street in a major way. Projected returns for loans on the exchanges are typically in the high teens, and reported default rates (though there is debate about the efficacy of these numbers) hover between 4 percent and 8 percent. We know that consumer default rates are the lowest in a decade, since the run-up to the banking crisis beginning in 2008. Recent reports indicate this trend may be in jeopardy, but the numbers are still remarkably low compared to the height of the crisis. Given the low cost of capital and relatively stable consumer default environment, investors have been able to toy with marketplace lending with relative comfort. The same logic has applied to the dramatic recovery in the stock market, as institutional investors have been able to essentially participate in quasi-riskless arbitrage, borrowing cheap money and investing for substantial gains in equities. Yet because the equity market is still highly volatile compared to the seemingly consistent yields in marketplace lending, investors have been willing to provide liquidity to the exchanges. Now that the Federal Reserve is emboldened enough by the employment recovery and is testing the waters with a rate increase, it calls the above strategy into question. The increase the Fed is considering is on the interbank lending rate, which is the cost at which banks borrow funds. While 25 basis points isn’t likely to disrupt very much, it will give pause to some institutional investors and cause them to re-evaluate their strategies going forward. Because the consumer exchanges rely so heavily on institutional investment dollars and the space is relatively new, there’s a chance that some of the more conservative investors will pull back and seek higher ground. Hedge funds will no doubt continue to play a significant capital role on the exchanges, however. Perhaps the more important trend to watch is consumer default rates. Employment growth has certainly been good for the economy and lower daily costs, such as gas prices, have provided some spending flexibility. But wage growth remains frustratingly low, which means the consumer is far from out of the woods. The UpshotThe combination of higher borrowing costs and increasing default rates will challenge the marketplace lending model over the next 18 to 36 months. It’s likely that direct lenders with stricter underwriting policies will be better positioned to withstand market forces than the exchanges.Tags & Sources: Federal Reserve Rate Increase, Janet Yellen, New York Times, Financial Times, Marketplace Lending, Prosper, OnDeck, Lending Club, Mayava Capital, Goldman Sachs, Peer-to-peer lending, alternative online lending, Consumer lending bubble, business loan consolidation, Business Loan Today, credit card lending, student debt, small business loans, consumer lending(Photo: Federal Reserve Chair Janet Yellen)