The unemployment tax is expected to be the highest this year in the United States. Wayne Rydzy, president of Pauway Corp., an aerospace and medical equipment manufacturer in Wallingford, is resigned to the tax. “Here’s another one. You send a check,” he said. “There’s no plan B. There’s no appeal.” The once-a-year tax, in addition to quarterly payments by employers, is down to $7.50 per employee from a high of $25.50 in 2011, said a spokeswoman for the state Department of Labor. It’s due Aug. 29. Thirteen states and the Virgin Islands owe the federal government $14.33 billion for unemployment insurance funding borrowed to help millions of unemployed workers during the 2007-09 recession and the weak recovery that followed. California accounts for more than half, $7.92 billion, and Wisconsin owes the least, $3.9 million, according to the U.S.
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Federal Home Loan Bank here eyes merger with Midwest counterpart | Business & Technology | The Seattle Times
Please enter a valid phone number. Please enter your Phone Number. Send Thanks! A link has been sent. Done IMF approves $154 mln loan program for Georgia 7 hours ago Content preferences Done WASHINGTON, July 31 (Reuters) – The International Monetary Fund on Thursday signed off on a $154 million loan program for Georgia, meant to help the ex-Soviet republic shore up its economy amid greater geopolitical tensions affecting neighboring countries. The IMF said the approval of the three-year loan program means Georgia gets an immediate disbursement of about $62 million. The program is meant to help shore up reserves and address economic vulnerabilities that still remain after the country’s last $386 million IMF loan program from 2012 to 2013. “Regional geopolitical tensions and potential spillovers from neighboring countries may affect the prospects for the economy, especially for trade, remittances and potentially foreign direct investment,” the IMF said in a statement. (Reporting by Anna Yukhananov; Editing by Meredith Mazzilli) Politics & Government
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Puerto Rico’s electric power authority gets extension from creditors – Yahoo Finance
Post a comment The Federal Home Loan Bank of Seattle and its larger sister bank in Des Moines, Iowa, said Thursday they are exploring a merger that would create the national finance networks largest cooperative by membership. Chartered by Congress in the 1930s in response to the Great Depression, the Federal Home Loan Bank system is made up of 12 regional cooperative banks. The systems primary purpose is to provide stable funding to member institutions that they in turn use to make loans to families, farms and businesses. As of June 30, the Federal Home Loan Bank of Seattle had $36.5 billion in assets. It is owned by more than 330 financial institutions in eight Western states and several Pacific territories. The Seattle-based funder of mortgage loans fell short of required capital in 2009 during the recession, its second bout of financial trouble in less than a decade. The FHLB of Des Moines had $82.2 billion in assets and serves about 1,200 members in five states in the Midwest. The merger requires approval from the Federal Housing Finance Agency and the membership of both banks. If approved, the combined cooperative would be based in Des Moines, said Michael Wilson, president and CEO of FHLB Seattle in a letter to its members. Sanjay Bhatt: 206-464-3103 or email@example.com On Twitter @sbhatt Want unlimited access to seattletimes.com?
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IMF approves $154 mln loan program for Georgia – Yahoo Finance
Send Thanks! A link has been sent. Done Puerto Rico’s electric power authority gets extension from creditors 2 hours ago (Adds analyst quote, reaction from governor to NY Fed report) By Edward Krudy NEW YORK, July 31 (Reuters) – Banks gave Puerto Rico’s electric power authority a two-week extension on $671 million in revolving loan facilities on Thursday as the troubled authority negotiates with creditors over its vital near-term cash needs. The reprieve was not enough to stop another downgrade from ratings agency Standard & Poor’s, which cut its view on the authority, known as PREPA, two notches deeper into junk. S&P said whether PREPA met its obligations was dependent on factors ultimately beyond its control. Under the new deal with creditors, PREPA received an extension until Aug. 14 on credit lines it uses to pay for operating expenses. Of that, $146 million was due to Citigroup Inc on Thursday. Scotiabank is owed about $525 million. PREPA said creditors had agreed not “to exercise remedies” as a result of credit downgrades.
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I-Minerals Inc. Issues Additional Bonus Shares and Bonus Warrants Pursuant to Loan Agreement, and Announces Debt Settlement – Yahoo Finance
Please enter a valid phone number. Please enter your Phone Number. Send Thanks! A link has been sent. Done Arsenal defender Jenkinson loaned to West Ham 2 hours ago . View photo Arsenal’s English defender Carl Jenkinson celebrates scoring during the English Premier League football match between Norwich City and Arsenal at Carrow Road on May 11, 2014 (AFP Photo/Lindsey Parnaby) London (AFP) – West Ham signed Arsenal defender Carl Jenkinson on a season-long loan on Thursday becoming the Hammers’ sixth new face this summer. Jenkinson, 22, joined Arsenal from Charlton in 2011 and earned his only England cap against Sweden 18 months later. “I’m clearly seen as a big part of things here and hopefully I can prove my worth because it is an important year for me,” said Jenkinson, who joins Mauro Zarate, Enner Valencia , Cheikhou Kouyate, Aaron Cresswell and Diego Poyet in a new-look West Ham squad. “I was flattered to have a lot of options but deep down, if I was being honest with myself, West Ham was always the place I wanted to go to. “It’s one of them where I wanted to do the right professional thing and consider all the options, but in the back of my mind it was always West Ham and I’m just so glad it’s all worked out how I wanted it to in the end.” Carl Jenkinson
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Arsenal defender Jenkinson loaned to West Ham – Yahoo Sports
1 hour ago 0 shares Content preferences Done VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jul 31, 2014) – I-Minerals Inc. (TSX VENTURE:IMA)( IMAHF ) (the “Company”) announces that it has issued an additional 412,193 bonus shares and an additional 412,193 non-transferable bonus warrants to a company controlled by a director in respect of cash advances totaling $1,200,000 U.S. pursuant to a loan agreement announced on September 20, 2013, as amended in January 2014. The bonus shares were issued at deemed prices ranging from $0.1725 to $0.2175 Cdn. per share. The bonus warrants are exercisable at prices ranging from $0.276 to $0.305 Cdn., and will expire on the earlier of December 1, 2016 and the date the amount of the individual advance pursuant to which the bonus warrants were issued, together with all accrued interest thereon, has been repaid in full. All of the bonus shares, and any additional shares which may be issued pursuant to the exercise of the bonus warrants, are subject to a hold period in Canada until December 1, 2014. The Company also announces that the company to which the bonus shares and bonus warrants disclosed above have been issued has elected to have accrued interest in the amount of $211,937.08 U.S. settled by the issuance of 741,233 common shares in the capital of the Company at a deemed price of $0.2859 U.S. per share, subject to regulatory acceptance, as provided for in the loan agreement pursuant to which this interest has been accrued. All of these shares will be subject to a hold period in Canada for a period of four months and one day from the date of issuance.
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