More Women Elected to Nova Scotia Legislature

first_imgMore women than ever will sit in the next session of Nova Scotia’s legislature. The nine women elected on Tuesday, June 13, make up 17 per cent of the members of the Legislative Assembly, and the Advisory Council on the Status of Women is celebrating the achievement. “I’m excited about this accomplishment for our province,” said Sonja Power, chair of the Advisory Council on the Status of Women. “We still need more women in the House of Assembly, but we’re starting to see improvement.” Women contribute to public decision-making in many ways, including being elected to public office. They volunteer for provincial agencies, boards, and commissions and for municipal boards and committees; they voice their opinions in public consultations; they support candidates in elections; and they become informed about issues and vote. Ms. Power says women’s participation in public decision-making is vital for two reasons. First, without women, half the talent pool is being missed. Second, when women are not adequately represented at the table, their perspectives and concerns can be lost. The United Nations estimates that at least 30 per cent of a decision-making body must be women in order for women’s concerns to be adequately represented. “We’re fortunate that so many women offered to run in this election,” said Ms. Power. “Standing for political office is hard work, and it’s not a sure thing.” She also thanked the Nova Scotians who supported women candidates: all the political parties, many riding associations, and countless individuals who worked behind the scenes during the election. The Advisory Council on the Status of Women has held two non-partisan campaign schools for women and will hold workshops in two more communities this year. It also works with the Union of Nova Scotia Municipalities, the YWCA, and Service Nova Scotia and Municipal Relations on a project to encourage more women to take part in municipal government. More information is available on the council’s website at www.gov.ns.ca/staw .last_img read more

Province Provides 3 Million for Infrastructure Improvements in Sydney

first_imgPeople in Cape Breton Regional Municipality can look forward to better roads and infrastructure in and around Harbourside Commercial Park thanks to $3 million from the province. Work is underway to add tree-lined sidewalks and other pedestrian walkways that will improve the links between the park and downtown Sydney, and promote healthy, active living. “Harbourside Park is becoming an integral part of Cape Breton Regional Municipality,” said Justice Minister Cecil Clarke on behalf of Murray Scott, Minister of Transportation and Infrastructure Renewal. “Infrastructure investments like this help spur economic activity within the municipality and give residents opportunities to be more active.” The work will expand the road system at the former Sydney Steel site from Spar Road to the former dock at the north end of the site. It will also re-open a walkway through the site from the Railroad Street area in Whitney Pier to Inglis Street. In addition, portions of Inglis Street will be repaved and sidewalks will be extended to the park. The street serves as one of the main entrances to the park. Cape Breton Regional Municipality will also repave roads that it owns, including a section of Inglis Street as far as Prince Street, as well as Terminal Road. The upgrade will provide a quality connection between Harbourside Park and downtown Sydney. The project will be cost-shared between the municipality and Nova Scotia Lands Inc., a provincial Crown corporation. The province’s investment represents its ongoing commitment to revitalize the former Sydney Steel site and is part of a multi-phased improvement plan including the new sports field announced in June.last_img read more

Swearingin Ceremony to be Webcast

first_imgNova Scotians will be able to watch the province’s new Executive Council being sworn in live by webcast. The private ceremony, will be held at the King’s Theatre, Annapolis Royal, at 11 a.m., Tuesday, Oct. 22. Premier-Designate Stephen McNeil and his cabinet will be sworn in by Lt.-Gov. J.J. Grant. The event can be viewed online at http://gov.ns.ca/stayinformed/webcast/ . The swearing-in will be followed by a public reception at the Port Royal Legion, Victoria Street, Annapolis Royal, at noon and an invitation-only reception at Province House, 1726 Hollis St., Halifax at 4 p.m. -30-last_img read more

15 killed in Barrel Bomb Attack in Aleppo

Beirut – At least 15 civilians have been killed on Saturday in a barrel bomb in the rebel-held Syrian city of Aleppo, the Syrian Observatory for Human Rights said.The strikes hit “near a tent where people were receiving condolences for those killed this week in the neighboring district of Bab al-Nayrab,” Observatory director Rami Abdel Rahman said.Hospital officials said suspected government helicopters dropped bombs in the Bab al-Nairab area, and it is feared the death toll will increase. Mohammed Khandakani, a hospital volunteer, said one of those injured told him a barrel bomb was dropped as people paid their respects to 11 children killed on Thursday in an air strike in the same area.Minutes later, another barrel bomb was dropped, injuring an ambulance driver and hampering rescue efforts.The Syrian government and its Russian ally are the only ones operating helicopters over Aleppo. The government denies it uses barrel bombs read more

Myanmar cyclone victims to benefit from UNItalian plan to boost livelihoods

The United Nations Food and Agriculture Organization (FAO) and the Italian Government have agreed on a $5.2 million programme to improve long-term food security for 32,000 poor fishing and farming families in Myanmar whose livelihoods were disrupted by last year’s Cyclone Nargis.The Italian-sponsored, FAO-managed programme will help small-scale farming and fishing communities improve production through the introduction of modern technology, according to a news release issued by the Rome-based UN agency. In addition, new employment should be generated and incomes improved by increasing the availability of quality seeds and community-based water management and reviving ecosystems.“These households join the over 112,000 households that FAO assisted between June 2008 and May 2009, as part of its $17 million cyclone Nargis assistance project and the hundreds of thousands of other families in various parts of Myanmar that FAO is working with and has worked with during its 30 years in this country,” said Shin Imao, FAO’s Representative in Myanmar.Cyclone Nargis hit Myanmar on 2 May 2008, killing nearly 150,000 people, and leaving many more homeless and without livelihoods. Giuseppe Cinti, Italy’s Ambassador in Myanmar, said Italy had already contributed $8 million to Myanmar’s recovery effort, with $6 million going to FAO-implemented projects. The new programme “will be implemented with the aim of giving the people of Myanmar the tools for their empowerment,” he said. 28 May 2009The United Nations Food and Agriculture Organization (FAO) and the Italian Government have agreed on a $5.2 million programme to improve long-term food security for 32,000 poor fishing and farming families in Myanmar whose livelihoods were disrupted by last year’s Cyclone Nargis. read more

Tories feast on Liberal BLTs

(Update)The New Democratic Party showed up at Queen’s Park Tuesday morning ready to grill the premier on the gas plant scandal — but they were preempted by the Progressive Conservatives, who say they have extensive details of the budget the Liberals plan to unveil next month.Tory leader Tim Hudak says disgruntled public servants leaked details about how the Liberals plan to reveal their upcoming budget plan. “They’ve drafted senior civil servants in what they call a budget leaking team. It’s unprecedented abuse and civil servants don’t like it. It’s not their job. That’s why we have whistleblowers.”The documents say the budget will include money for in vitro fertilization, school nutrition programs, incentives for businesses and the end of the hydro debt retirement charge on residential bills.“We’re talking about 39 spending announcements totalling $5.7 billion dollars. We can’t afford it.”He says the budget is to be presented to the legislature May 1st. But finance minister Charles Sousa won’t confirm any details.“The document will be released and I will release the date in the coming weeks. I have not finalized anything at this point.”Premier Kathleen Wynne also shrugged off the leak, saying it’s normal to have a communication plan before a budget. “It’s unfortunate those confidential plans may have been released, but the substance is exactly what I have said we are going to do.”The Liberals need the NDP to support the budget to avoid a spring election, but leader Andrea Horwath was non-committal. “There could be all kinds of speculation, all kinds of leaks. what people expect us to do at this time is dig into the cover-up of the gas plant scandal, and make sure we get answers we deserve.”New Democrats want a public inquiry into the gas plant relocation cover-up and they’re also trying to get Peter Faist to testify at the committee hearings; they say they haven’t been able to get hold of him. Faist is the computer tech named in court documents and alleged to have wiped Liberal hard drives clean of any evidence.The Tories want to know whether Faist had security clearance before he was given access to those computers. Wynne distanced herself, saying her involvement was very limited, and that it all happened before she was premier. read more

At UN debate Turkmenistan leader proposes international legal framework on energy security

“One of the basic conditions for a stable and conflict-free development of the world today is energy security,” said Vice President Meredov, who is also his country’s Minister for Foreign Affairs.“We consider it appropriate to prepare a draft resolution of the General Assembly on the establishment of an expert group to development an appropriate UN multilateral document,” he added.Turkmenistan, he noted, is one of the leading suppliers of energy resources and possesses the fourth largest reserves of hydrocarbon resources. It has “responsibly and consistently” called for the establishment of a stable and reliable system of international energy supplies and the elaboration of schemes and patterns of interaction in the global energy markets.“We believe that today there is a need for the adoption of UN-level consensus decisions, which would serve as a basis for the creation of universal political and legal mechanisms governing global energy cooperation,” said Vice President Meredov.He recalled that his country launched a number of initiatives related to energy security and mutually beneficial cooperation in the energy sector. “As a step forward with regard to these initiatives, Turkmenistan suggests that the UN member countries consider in great detail the idea of creating an international legal framework that would govern the functioning of energy supply systems, taking into due consideration the interests of hydrocarbon producers, transit and recipient nations,” he said. Vice President Meredov is one of scores of world leaders and other high-level officials presenting their views and comments on issues of individual national and international relevance at the Assembly’s General Debate, which ends on 1 October. read more

Humanitarian situation in Iraq deteriorating and growing more complex UN relief wing

The number of Iraqis requiring humanitarian assistance has grown to over 8.6 million people, including over 3.2 million people who have fled their homes since January 2014, according to OCHA. The International Organization for Migration’s most recent tracking of displacement shows that there are now 3,206,736 internally displaced people in Iraq, while military operations and insecurity have triggered new displacement in Salah al-Din and Anbar governorates. Cholera has spread across the country, with over 1,600 confirmed cases and two deaths one month after the outbreak was first declared, according to the Ministry of Health and the World Health Organization (WHO). The main causes for the current outbreak are broken water supply systems and the lack of sufficient chlorine in the country to provide clean water. Insecurity and military operations continue, as Iraqi security forces and its allies continue military operations to retake areas from the Islamic State of Iraq and the Levant (ISIL). Amidst unverified reports of an escalation of military operations there have been reports of civilians seeking to leave Ramadi and Falluja, but access to safety for civilians in conflict areas remains a concern, according to the OCHA report. The UN Assistance Mission for Iraq reported that at least 537 Iraqi civilians were killed and 925 civilians injured nationwide in September 2015. This includes civilian police and casualty figures from Anbar. International assistance has alleviated the suffering of over two million Iraqis during the past year, but funding is still short of growing needs, said OCHA. Overall global funding to Iraq in 2015 is $618 million, of which $237 million has been received outside the UN and its partners’ joint appeals. On 4 June, the Government of Iraq and the UN launched a revised and prioritized Iraq Humanitarian Response Plan seeking $498 million, 41 per cent of which has currently been received. read more

Severe delays for Dublin rail commuters due to fault at Howth Junction

first_img Short URL Friday 2 Dec 2016, 8:01 AM Share18 Tweet Email IRISH RAIL HAS said commuters should expect “severe delays” due to a fault at Howth Junction.Services through the station were halted about an hour ago due to a points problem. Both Dart and commuter services have been affected.Though Irish Rail said services had started moving back through the station, in the last few minutes the company said Howth services have now been suspended. http://jrnl.ie/3115237 Commuters are being advised that services are subject to “severe delays”. Dublin Bus is accepting rail tickets. ‘Severe delays’ for Dublin rail commuters due to fault at Howth Junction Dublin Bus is accepting rail tickets this morning. Dec 2nd 2016, 8:01 AM center_img Source: Iarnród Éireann/Twitter 19 Comments 10,937 Views Update: Howth Howth Jct services now suspended. Malahide DART & Northern Commuter operating through Howth Jct, but subject to delays— Iarnród Éireann (@IrishRail) December 2, 2016 By Michelle Hennessy Tweet thisShare on FacebookEmail this articlelast_img read more

Man who attacked good Samaritan with a jagged beer can jailed for

first_img By Liz Farsaci Jun 15th 2017, 8:19 PM Source: Richard WoffendenA MAN WHO furnished a weapon during an assault on a ‘good Samaritan’ was today handed down a prison sentence.John McDermott (24), with an address at River Valley, Swords, Co Dublin, pleaded guilty at Dublin Circuit Criminal Court to assault causing harm to Russ Hogan at Talbot Street on 10 July 2014.The court heard that at about 8pm on that date, Hogan was walking along Talbot Street. He noticed two young men, McDermott and another youth, who was 16 at the time, who appeared to be observing a woman taking money from an ATM.John Byrne, BL, prosecuting, said McDermott shouted “What the fuck are you looking at?” to Hogan. Both McDermott and his friend moved towards Hogan to threaten him but Hogan tried to talk to them and defuse the situation.Garda Fergus Grant said that a young woman, who was also with McDermott, then began to kick and punch out at Hogan.Hogan said he saw what he later described as a “flash of silver” in the 16-year-old’s hands, which was slashed at his face. Hogan received two wounds to his right cheek as well as other cuts.At this point McDermott, who was across the road, came towards Hogan with an improvised weapon made out of a beer can.Beer canMcDermott had taken the beer can out of his pocket and bit into it. He twisted it so the edge became jagged and moved towards the victim.McDermott then began to assist his friend in punching and kicking Hogan. A member of the public alerted gardaí, and both young men were arrested.When McDermott, who has 103 previous convictions, arrived at Store Street Garda Station, he himself was suffering from injuries, having a broken nose and cuts on his face. He was under the influence of alcohol and tablets.He said he had brandished the can to help his friend get away from Hogan and did not injure anyone with it.Hogan attended the Mater hospital that evening, where he was treated for two moderately deep wounds on his right cheek, as well as other more minor cuts.Byrne said McDermott pleaded guilty to the assault causing harm, on the understanding that it was not him who slashed Hogan’s face.McDermott is currently serving a sentence for two robberies committed last year.Anne Marie Lawlor BL, defending, told the court that McDermott had asked Garda Grant to convey his apologies to Hogan, which Hogan “graciously” accepted.Lawlor said McDermott, who has a long-term partner and young child, had struggled with a “chronic addiction” to various substances, and that many of his offences had been made under the influence of a substance, or in an attempt to procure money in order to purchase them.She said that what McDermott did in relation to Hogan was “absolutely inexcusable” but that her client was not the one whose actions caused the laceration on Mr Hogan’s face, and that “his role was on the periphery of an event”.Describing Hogan as a “good Samaritan” who was set upon by McDermott and his friend, Judge Cormac Quinn sentenced McDermott to 18 months in prison, with the final six months suspended.Read: Brothers who pocketed €8,000 in cash from bartending at Dublin charity concert given community serviceRead: Care worker who locked out woman with intellectual disability awarded €15,000 for unfair dismissal Short URL Share58 Tweet Email Tweet thisShare on FacebookEmail this article https://jrnl.ie/3446827 26 Comments Man who attacked ‘good Samaritan’ with a jagged beer can jailed for 12 months John McDermott attacked Russ Hogan after he caught him observing him watching a woman take money from an ATM. 16,969 Views Thursday 15 Jun 2017, 8:19 PMlast_img read more

Icelands Pirate Party Is Polling In First Place Ahead Of Elections

first_imgThe political landscape is vastly different in Iceland than it is in the US. While both countries are on the verge of elections, they’re historic for very different reasons. In the US, we have two candidates with high unfavorability ratings vying for the presidency. In Iceland, the Pirate Party is currently polling in first place. 2016 is weird. The newspaper Morgunblaðið and the Icelandic Social Science Research Institute just released a poll showing the Pirate Party running at 22.6% in advance of the October 29th election. That’s a point and a half better than the ruling Independence Party and four points ahead of the Left-Greens. This is an impressive increase in support — in the 2012 election the Pirates got just 5.1% of the vote. Iceland uses proportional representation, which encourages multiple parties to compete in an election. The party with the most support in the 63-member Althingi (national parliament) typically controls the government, but only if it controls a majority of seats or can put together an alliance to get majority support. The Pirate Party is currently on track to get 15 seats on the Althingi. That’s not enough to take the government outright, and party leaders have already said they will not ally with the Independence Party.If the Pirates do get enough support to take control, it intends to implement policies in support of privacy and the right to online anonymity. Copyright reform, once a pillar of the Pirate Party, is strangely absent from the stated platform. The party wants to make Iceland a safe data haven where information cannot be disclosed without authorization and open data formats are strongly supported. That gets at some of the same problems, but it doesn’t make any direct changes to copyright.last_img read more

Communal attacks aimed at destroying relations with India Quader

first_imgObaidul QuaderRuling Bangladesh Awami League (AL) general secretary Obaidul Quader on Sunday alleged that a certain communal force carried out attacks on the Rangpur Hindu community in a bid to destroy Bangladesh’s “good relations” with India.“An evil force launched the brutal attack ahead of the next general elections. The communal force launched the attack on Hindu community and looted their property. They want to destroy good relations with India,” said Quader, also the road transport and bridges minister.The AL general secretary made the allegation while talking to newsmen after visiting the Hindu people who came under attack of local Muslims on 11 November following a Facebook post by a Hindu man which, the Muslims claim, contained derogatory remarks about Muslims’ prophet Muhammad.A man was killed when police opened fire to ward off the angry mob that turned violent and launched arson attacks on Hindu homes in Rangpur’s Gangachara upazila following the Facebook post.“Those who want to destroy relations with India are living in a fools’ paradise,” said the AL leader.He said those who were involved in the attack must be brought to justice no matter how much powerful they are.He said the incidents of Nasirnagar, Ramu and Rangpur are all connected. “This is a part of a plot.”The road transport minister handed over Tk 25,000 to 11 affected Hindu families each, Tk 10,000 to ten affected Hindu families each, and gave Tk 10,000 for a Hindu temple.last_img read more

Bangladeshi peacekeepers renovate S Sudan football fields

first_imgUNMISS is contributing to the third National Unity Day in Juba by means of its Bangladeshi Engineering Contingent, which is renovating football fields in the capital.Bangladesh’s engineering contingent in South Sudan has been tasked with renovation of football fields to be used for a variety of National Unity Day activities.The Bangladeshi peacekeepers are contributing to youthful festivities, under the umbrella of the United Nations Mission in South Sudan (UNMISS).The mission said it is supporting this year’s annual National Unity Day by renovating four football fields in Juba.”Hundreds of youths from across the country will get together for sports and other activities to promote inter-ethnic interaction and a spirit of fair play and peace.,” the mission said in a news release.The opening ceremony of the event will be held at the Juba Football Stadium on 27 January and it will end on 4 February.According to the news release, work has already begun on the pitch in Juba-One, with the fields of Buluk, Zahra and St. Paul’s to follow.Officer-in-charge of some of the engineering work, Lieutenant Masud, says the tasks of the contingent will include the grading and levelling of the football grounds, as well as digging drains along their perimeters.Lemor William Joseph, assistant director for youth, training and innovation, a component of the culture, youth and sports ministry of that country, appreciated the efforts of the UN peacekeeping mission.“Actually it is a very great work that UNMISS is doing for us, because really to renovate these fields would have been very expensive,” he said.The Japan International Cooperation Agency, JICA, will finance the logistics of bringing the participating youths to the National Unity Day.During the 2017 edition of the National Unity Day, approximately 500 boys and girls from twelve towns from across South Sudan and Abyei participated in football and athletics competitions.This year youths from all of the states of the country are expected to take part.last_img read more

ER achieves growth rate of 608 passenger count earnings increase

first_imgKolkata: Eastern Railway has achieved a growth of 6.08 percent in suburban passenger earnings for the period — April to December, 2018 — in comparison with the corresponding period of last year.Eastern Railway secured the first position in suburban passenger earnings among all zonal railways in the country and the growth rate is the highest achievement in the Indian Railway System. It has earned a mammoth additional amount of Rs 29.59 crore by inducting additional suburban passenger traffic of 3.45 crore in this period. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killedThe overall growth of passenger earnings of Eastern Railway has also achieved a remarkable figure of 6.32 percent for the period from April to December, 2018, in comparison with the corresponding period of last year. In absolute figure, the additional earnings amount to Rs 127.59 crore from carrying additional passenger traffic of 3.83 crore. ER has achieved huge success in passenger traffic and earnings through a number of passenger-friendly initiatives resulting in the increase of purchase of journey tickets. Passenger awareness campaigns towards usefulness of ATVM, POS, and mobile ticketing etc. are constantly and continuously going on. Also Read – Bose & Gandhi: More similar than apart, says Sugata BoseEastern Railway has installed 232 ATVMs in the period from April to December, 2018, in addition to the previously existing 178 ATVMs and looks to introduce another 148 at different stations shortly. Besides reducing the waiting time, the intending passenger can get journey tickets from these ATVMs with 3 percent bonus. For providing easier access to purchase journey tickets, ER has also appointed 154 more JTBS (Jansadharan Ticket Booking Sevaks) up to December, 2018. For extending the facilities of cash less transactions, ER has installed 596 POS machines at the PRS and UTS counters in different areas up to December 2018. Purchasing of unreserved tickets through mobile phone from any station to any station has also been implemented. QR based mobile-ticketing facility has also been implemented through which passengers can easily purchase journey tickets after reaching the station.last_img read more

How would you describe the strength of your relationship

first_imgeTN Chatroom for Readers (join us) Copyright © 2011-2018 Gay Star News. All Rights Reserved. This Website uses Cookies – Learn more. Designed by CK Creative GAYSTARNEWS- Registered office: 15 Pages Walk, London, SE1 4SB, UK. See full contact details.Share this:TwitterFacebookLike this:Like Loading…center_img Gay Star News Ltd is a company registered in England and Wales (7719609). LGBT tourism: 10th edition of GNETWORK 360Istanbul LGBT Pride Parade and tourism: A violent NO by Dictator ErdoganLet Hawaii Happen – A Surprise LGBT Wedding videoRead the full article on Gaystarnews:  :https://www.gaystarnews.com/article/describe-strength-relationship/last_img read more

Airlines commit to Qld

first_imgSource = e-Travel Blackboard: P.T Queensland has experienced a flurry of new international and domestic flights and increased flight frequencies, which will develop tourism and improve visitor numbers, according to Queensland Tourism Industry Council (QTIC) chief Daniel Gschwind.Increased flights to Cairns, Brisbane and the Gold Coast are planned for China Southern Airlines, China Eastern Airlines, Etihad and Qantas.China Southern Airlines will employ three non-stop services from Guangzhou, while China Eastern will offer three direct flights from Shanghai.From February 2013 Etihad will run a daily service between Brisbane and Abu Dhabi.Qantas have also responded to a rise in demand for both leisure and business travellers by announcing a return to three daily services to the Gold Coast.“We are thrilled with these airlines’ decisions to further commit to Queensland, and I know Queenslanders and tourism operators are ready to show off our state to visitors,” Mr Gschwind said.“It’s a real vote of confidence for the state’s tourism industry and provides a real impetus for visitor number growth.”These new flights and increased frequencies will provide thousands of extra inbound seats to the sunshine state each week.“By committing to these flights we will also see these airlines market Queensland as a destination to their respective markets, further spreading the word that our state is where Australia shines.”last_img read more

Mortgage Activity is On the Move for Banks in Q2

first_img“We had a good second quarter against a backdrop of global uncertainty.”William S. Demchak, chairman, president, and CEO of PNC in Daily Dose, Headlines, News Banks Citigroup Earnings PNC Profits U.S. Bancorp Wells Fargo 2016-07-15 Seth Welborn July 15, 2016 879 Views Mortgage Activity is On the Move for Banks in Q2center_img PNC Financial Services Group’s net income for Q2 was $989 million, up from $943 million in the first quarter but down from $1.04 billion from Q2 of 2015. Residential mortgage banking net income accounted for about $43 million of Q2’s net income, more than double the total from Q2 2015 ($19 million). Residential mortgage banking noninterest income increased by $65 million over-the-quarter and by $1 million over-the-year in Q2 up to $165 million, driven by net hedging gains on mortgage servicing rights of $35 million. U.S. Bancorp passed the Fed’s stress tests, the results of which were released in June.“We had a good second quarter against a backdrop of global uncertainty,” said William S. Demchak, chairman, president, and CEO of PNC. “We grew fee income, along with average loans and deposits, and we announced plans to return additional capital to our shareholders in the coming year. In the wake of the Brexit vote, as lower interest rates weigh on future performance, we remain focused on executing against our strategic priorities to create long-term shareholder value without compromising our risk profile or balance sheet.”Citigroup, however, was not as lucky as the other three, posting a net income of $4 billion in Q2—down from $4.8 billion in the same quarter a year earlier, a 14 percent decline. According to Citi, the decline in net earnings was driven by lower revenues and a higher effective tax rate, partially offset by lower cost of credit and lower operating expenses.Citigroup’s loans totaled $634 billion as of the end of Q2, which was unchanged over-the-year. According to the bank, the 6 percent growth in Citicorp loans was offset by continued declines in Citi Holdings—which was driven mostly by continued reductions in the bank’s North America mortgage portfolio. The Fed did not object to Wells Fargo’s capital plan in the stress testing.“These results demonstrate our ability to generate solid earnings in a challenging and volatile environment, again highlighting the resilience of our institution. Nearly all of our net income came from our core businesses and we continued to reduce non-core assets in Citi Holdings,” said Michael Corbat, CEO of Citi. “We significantly improved our efficiency ratio, return on assets and return on tangible common equity from the first quarter. We also grew loans in both our consumer and institutional businesses, reduced expenses, and utilized additional deferred tax assets, bringing the total utilized to $10 billion over the last four years. This utilization fuels our ability to generate regulatory capital and, with the Fed’s non-objection to our capital plan, I am pleased that we will significantly increase the amount of capital returned to our shareholders over the next year.”Click here for Wells Fargo’s Q2 earnings report.Click here for U.S. Bancorp’s Q2 earnings report.Click here for PNC’s Q2 earnings report.Click here for Citigroup’s Q2 earnings report. Wells Fargo, U.S. Bancorp, and PNC Financial Services Group all continued what JPMorgan Chase started, reporting increased mortgage activity for the second quarter of 2016 as demand for mortgage loans rises and underwriting standards slowly ease, according to the banks’ Q2 earnings reports released Friday.On the other hand, Citigroup, which also released its Q2 earnings statement on Friday, reported continued reduction in its mortgage portfolio as well as overall net income.Wells Fargo reported a slight decline in net income year-over-year in Q2 (from $5.7 billion down to $5.6 billion, of $1.01 per share) but did report an uptick in net income from Q1 ($5.5 billion) and a 4 percent increase in revenue up to $22.2 billion. Though overall mortgage banking revenue was down, residential mortgage loan originations increased by 43 percent over-the-quarter, up to $63 billion. Residential mortgage applications shot up over-the-quarter from $77 billion up to $95 billion in Q2, and total loans were up by 1 percent over-the-quarter to $957.2 billion, partially driven by the growth in single-family first mortgage loans. The rise in first mortgages can be attributed to the launch of Wells Fargo’s Your First Mortgage during the quarter to help more first-time buyers and low- to moderate-income families achieve sustainable homeownership.“Wells Fargo’s second quarter results demonstrated our ability to generate consistent performance during periods of economic, capital markets and interest rate uncertainty,” Chairman and CEO John Stumpf said. “Compared with a year ago, we had solid growth in loans, deposits and customers, which are our fundamental drivers of long-term value. We also improved our efficiency ratio while continuing to reinvest in the franchise. We returned more capital to our shareholders in the quarter and were pleased to have received a non-objection to our 2016 Capital Plan from the Federal Reserve. We remain well positioned to continue to meet the financial needs of our customers.”U.S. Bancorp reported records for both net income ($1.52 billion) and earnings per share ($0.83). Residential mortgage originations jumped to $55.5 billion, an increase of 2.4 percent over-the-quarter and 8.6 percent over-the-year. The bank’s Q2 mortgage banking revenue in Q2 was $238 million, which was an increase of 27 percent over-the-quarter and 3 percent over-the-year. Also, the Fed did not object to U.S. Bancorp’s capital plan as part of the annual stress testing released in June.“U.S. Bancorp reported strong second quarter results, delivering record revenue and net income in an economy that continues to be challenged by global concerns and low interest rates,” said U.S. Bancorp Chairman and CEO Richard K. Davis. “Despite these economic headwinds we continued to effectively execute on our strategy to be the most trusted choice and to unify the customer experience. The second quarter was a record quarter for us as we once again delivered industry-leading returns, steady loan growth and strength in our fee-based businesses. Steady loan growth, demonstrated by continued strength in commercial loans and momentum in consumer loans, led to increased net interest income despite a decline in net interest margin.” Sharelast_img read more

The violent death of

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