The Finding Neverland Team Flies to Broadway.com Headquarters

first_img View Comments Related Shows How do you get to Broadway.com’s NYC offices? Follow the second star to the right and straight on ‘til morning! Finding Neverland stars Matthew Morrison and Kelsey Grammer, and director Diane Paulus and producer Harvey Weinstein stopped by the website’s headquarters on February 25 to chat about the new musical with the Group Sales team. Featuring music and lyrics by Gary Barlow and Eliot Kennedy and a book by James Graham, Finding Neverland follows J.M. Barrie and his relationship with the family of widow Sylvia Llewelyn Davies, who became the inspiration to write Peter Pan. Check out these shots of the magical visit, then see Finding Neverland beginning March 15 at the Lunt-Fontanne Theatre. Finding Neverland Show Closed This production ended its run on Aug. 21, 2016last_img

Greg Mullavey & Kate Wetherhead Tapped for Clever Little Lies

first_img Clever Little Lies Stage alums Greg Mullavey and Kate Wetherhead will join the previously announced Marlo Thomas in Joe DiPietro’s Clever Little Lies off-Broadway. The three reprise their roles as Bill Sr., Jane and Alice from the world premiere at New Jersey’s George Street Playhouse in 2013. Performances will begin on September 18, with opening night set for October 14. David Saint will direct. Tickets are now on sale.Clever Little Lies follows a family with a mother who always knows what’s happening among her flock. As their son struggles under pressure from his overbearing mother, a confidence is shared between father and son that escalates into an unexpected family disclosure that could change their entire dynamic.Mullavey appeared on Broadway previously in Romantic Comedy and Rumors. His numerous additional stage credits include his one-man A Christmas Carol, Exit Entrance and White Woman Street. He is perhaps best known for playing Tom in the ‘70s series Mary Hartman, Mary Hartman.Wetherhead returns to the New York stage after appearing in The 25th Annual Putnam County Spelling Bee and Legally Blonde on Broadway and The Other Josh Cohen, Ordinary Days and Tatjana in Color off-Broadway. She is the co-creator of the series Submissions Only and co-author of the Jack & Louisa series.The production will end its limited engagement on January 3, 2016. Show Closed This production ended its run on Jan. 24, 2016 View Comments Related Showslast_img read more

Temps to Rise on Long Island During Weekend

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Nine-year-old Kevin Grix measures and takes the temperature of the snow piled up in front of his North Babylon home on Friday, Jan. 3, 2014. (Photo credit: Tom Grix)The brutal cold that arrived with Thursday night’s nor’easter was still lingering Saturday morning, but the temperature is expected to rise during the day, the National Weather Service said.Saturday’s forecast calls for sunny skies and temperatures approaching 30 degrees as the day progresses. Sure, it will still be cold, but the forecast is nothing like what the Island has seen over the last two days with plummeting temperatures in the single digits.David Stark, a meteorologist at the Upton-based National Weather Service, said Friday that it’s unusual to see frigid temperatures produced by a storm such as the nor’easter that slammed Long Island. The storm, he said, funneled in cold air, contributing to the falling temperatures.The weather will warm up Sunday with forecasters predicting a 40-degree day, which will contribute to melting the large packets of snow outside, Stark said.Rain is also in Sunday’s forecast.The brief reprieve from the frigid temperatures will continue during the day Monday before quickly dropping in the evening.Forecasters are calling for a high of 14 degrees on Tuesday.last_img read more

Credit union industry, hotel rooms and gatekeepers

first_imgNew thinking is scary, but old thinking is truly dangerous. Old thinking is safe; grounded in sensible logic that advises you to stick with what’s worked in the past. Historic business paradigms and pricing schemes that are the bread and butter of your revenue model are hard to give up.History shows that major technology breakthroughs (e.g., the PC and the Internet) create the impetus for new business models, and it’s rare that existing companies are willing to cannibalize their income. Often a new company, with no existing stream of revenue to protect, introduces a new way to provide value and monetize the shift in power created by such breakthroughs. These revolutionary pricing models or customer acquisition systems shift the balance of power, and billions of dollars, away from established companies. The path is usually the same; incumbents cling to the past while the disrupters give away that service and instead charge for something new.With 20/20 hindsight, we can point to hundreds of examples of disrupted businesses from the PC and Internet eras and criticize the impacted players that failed to see what is now obvious. But we also know that three current technology breakthroughs are happening as we speak; search, social media and mobile. We also know that in the not too distant future these important developments will impact other industries. Must we watch helplessly as a new wave of established companies suffer a predicable fate? Is our industry doomed for history to repeat while we take no action? In many ways it’s unavoidable as much as it is predicable. It’s easy to watch dispassionately how another industry is shaken to the core but be convinced it can’t happen to us. Even if you correctly fear the consequences of these shifts in power, and you rightly anticipate the changing business model paradigm, you’re often helpless to act because you’re in a fragmented market where you join thousands of your peers who may be dynamic leaders in our industry but we simple can’t move the needle on our own.Many billions of dollars of investment capital is pouring into financial technology investing, and most are targeting disrupters; software players that directly market financial services to consumers versus business to business (B2B) software companies that offer white-label services under the financial institution’s brand. Examples of top funded companies include Acorns, Wealthfront, Betterment, Blender, Colu, Moula, Osper, Lending Club, Prosper, and many more. These companies and their venture investors are betting that a train wreck of disruption is arriving in the banking industry. Some leading banks and credit unions are attempting to answer the threat by hosting hackathons, participating in start-up incubators, and awarding prizes to software developers with exciting, new potential products or services. Most big banks with an innovation program work in isolation and the results are underwhelming. The number of truly game-changing new product innovations that have come out of banking in the past 25 years is minimal. Contrast that with the number of innovative products and services introduced by entrepreneurs. I can personally attest (as the co-founder of Digital Insight in 1995) to the real-world innovators dilemma that exists, and how most revolutionary companies could have only been created as a startup.Let’s watch the train wreck as it’s happening in another industry sector with a number of daunting parallels to banking; hotel booking and distribution. There are 4.88M hotel rooms in the U.S. (over $115B in annual room revenue with 60% occupancy and $110 average daily room rate). In 2001 the vast majority of rooms were booked directly at a hotel (walk-in, call center reservation) and the rest were through intermediaries (travel agent, tour operator, online travel agency, known as OTA). Per a 2011 Oxford Economics Study, 1.4% of total room revenue was from Online Travel Agencies in 2001. It would be hard to find a respected industry expert or analyst that didn’t believe the mix would continue to shift in the future, along with the balance of power from hoteliers to online distribution agents. The percentage of online bookings from companies such as hotels.com predictably grew to 45% in 2015, representing over 15% of total industry room revenue.Recently, Marriott and Starwood agreed to merge, creating the largest hotel operator in the world, with a combined market capitalization of $25B. Hilton is now the second largest chain with a $17B valuation, Intercontinental is $7.5B, Wyndham is $7B and Hyatt is $5B. These dominant hotel chains control 70% of the US hotel inventory and collectively have over $61B in market value as of February 8, 2016.Conrad Hilton purchased his first hotel (The Mobley in Cisco, Texas) effectively launching Hilton Corp in 1919. Priceline, was founded in 1997, Expedia was founded in 1996 and they have a combined market cap of $59B.Let this sink in. Demand did not shift (hotel room occupancy rates in the U.S. was 61% in 2005 and 65% in 2015). Supply did not materially change (the number of hotel rooms in the U.S. grew from 4.1M in 2000 to 4.9M in 2015, or 1.3% annually). No new competitive threat was introduced (unlike disruption in other industries; e.g. Amazon grew revenue from zero in the first half of 1994 to $107B in 2015, creating an equal revenue decline from traditional brick and mortar retailers, forcing several prominent chains into bankruptcy).What shifted was the consumer experience for booking. The balance of power shifted from brand and operator to online marketing and customer acquisition agents, creating a new gatekeeper. This new intermediary between the guest and the hotel extracts between 15–30% of the total cost of the room. These OTA gatekeepers outspend hotels 2 to 1 in TV advertising and 4 to 1 in online search advertising. The model is very familiar and has been used by Uber, who charges drivers 20% of the total fare in exchange for marketing, lead generation, sales and payment processing.These third party distribution channels have effectively created their own “soft brand” with features such as loyalty, social reviews and quality metrics, and substantial contribution in reservation automation. Their entry has led to price transparency, lower room rates, lower advance reservations (get lower rates if you wait, making it more difficult for hotels to forecast), and commoditization between hotel brands.In order to make up for lost revenue, hotel operators invented new ways to charge customers to artificially lower the published room rate (such as resort fees and charging exorbitant rates for phone and internet access), further angering consumers (similar to how airlines introduced baggage fees), making the OTA look like the good guys. These intermediaries provide consumers what they want: greater choice, lower prices, price transparency, convenience, time savings, and better, more current travel information (independent ratings, reviews, location guides and travel tips).How and why did hotel operators allow this to happen? We know what they wanted; higher occupancy, higher average daily room rates, brand loyalty, and ability to up-sell other hotel services (such as bar / restaurant).Cindy Estis Green and Mark V. Lomann published a report in 2012 that summarized the industry threat (An AH&LA and STR Special Report. Distribution Channel Analysis: A Guide for Hotels); “Power is in the hands of the gatekeepers who control consumer access, and many are vying for that position. This doesn’t bode well for a fragmented industry such as lodging. There are many powerful online media interests that are well positioned to control the traffic leading to the demand for hotel rooms. They have deep pockets, centralized product and marketing strategies. To compete effectively and retain control of pricing, inventory, and brand value, the industry has to make a substantial commitment to manage a burgeoning array of transactional and marketing channels and harness its customer relationships, the asset it controls best, more effectively than any third party intermediary. Three greatest emerging trends are; search, social media, mobile. Greatest threat to business in next 2–3 years; Google, Facebook and Apple.”In spite of decades of time advantage, valuable customer records and control over a customer experience that can never go ‘digital’, hoteliers gave away their customer relationships, allowing these new gatekeepers.Other participants in the travel industry also faced threats and opportunities. Consumer-focused offline travel agents were not able to make the transition to online (travel agent retail locations are down from 34,000 in mid-nineties to 13,000 in 2012). Airlines leveraged two key pieces of data; travel dates and destination city, to tap into hotel inventory and car rentals by offering bookings via their own branded online and mobile experience. They provide a valuable customer experience, using their data to act as gatekeeper in order to generate ancillary income.What about the banking industry? Simply replace the words lodging with banking, hotel rooms with banking services, and the threats are the same; disintermediation (inviting gatekeepers), shifting economic model (from interchange to leveraging consumer demand and data), fragmented industry, and powerful new market entrants (Apple, Google, Facebook) in an industry that is increasingly going digital. Consumers would much prefer to have banks provide the plumbing and have their favorite mobile interface handle the user experience.We can also draw powerful corollaries between hotel inventory and the payments industry. The shift for online commerce started twenty years ago but is still in its infancy (according to the St. Louis Fed, e-commerce accounted for $87B in online sales in Q3 2015, or 7.4% of total retail sales in the U.S.). The shift for offline commerce (in-store retailing) is just beginning and the winners have the potential to create trillions of dollars of value each year. Consumers will continue to buy gas, food, clothes etc. in brick and mortar stores, but the way they find, compare and pay for these goods and services has already started to change significantly due to search, mobile and social media capabilities. How will the power shift for the banking industry? What’s the role of current payments industry forces?Total payments interchange is estimated to be $60B each year, shared by several layers of intermediaries who move information and money from the bank of the consumer to the bank of the merchant. As this dated business model continues to decline, leading banks like Chase are accelerating the decline in payment processing fees by leading the shift in power to enabling commerce in their own branded mobile payment system (via Chase Pay, anticipated to debut later in 2016). Chase Pay has partnered with several companies, including LevelUp and Merchant Customer Exchange (MCX), to offer over-the-top settlement services. This means that merchants are able to pay significantly less for ‘on-us’ Chase payment transactions, where payment is initiated via mobile, with zero fraud liability. Chase understand that their customer relationships, their consumer payment and past consumption data, and their position as gatekeeper based on their banking relationships is the true value in payments.The power will not be in the hands of the retailers, but will be with the consumer. Let’s look at merchant funded offers networks (card linked offers, group buying sites, coupons, and other incentive systems). Once a hotel chain partners with an OTA, the power shift has occurred and now that chain has opened a new customer acquisition channel. The chain (e.g., Hyatt and Hilton) will provide their inventory to every other OTA (e.g., hotels.com and Expedia) and create a ‘jump ball’ whereby whoever books the room gets the commission. For merchants, providing consumer savings and incentives via card-linked offers or merchant funded rewards works the same way. If a big box chain makes pricing and other incentives available to consumers, they will make the offer available to all shopping apps that enable discovery, search, comparison, purchase and rewards. The mobile device and software platform that presents the offer and provides the best consumer value and experience will win.Financial institutions have significantly more consumption and demographic data then other industries. Financial institutions are currently gatekeepers in the card issuance and card acceptance model, and have the opportunity to become the gatekeeper in the future data and customer purchase model.Fortunately for credit unions, a visionary group of 38 credit unions and CU service organizations understood the risks associated with in-action, along with the opportunities that exist in this rapidly changing space, and founded and invested in CU Wallet in 2013. As a CUSO, CU Wallet collaborated to create a platform to provide credit unions with an alternative to inviting new gatekeepers into our industry. The first product, introduced in January 2016 for a handful of progressive credit unions, provides a credit union branded mobile app with in-store payment capabilities and a merchant funded offers network. It’s not often that credit unions are able to beat big banks like Chase to market with innovative new services, but thanks to a group of investors and subscribers, in partnership with entrepreneurial leadership, new thinking is being applied to ensure our industry’s success. 40SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Paul Fiore Paul Fiore co-founded Digital Insight which offers Internet based services to financial institutions. As founder, Board of Director and CEO, Mr. Fiore performed all tasks necessary to successfully grow the … Web: www.cuwallet.com Detailslast_img read more

Back to school in the COVID-19 era: How to protect members against rising online fraud

first_imgBack to school season is upon us, and this year is shaping up to be radically different. Consumer behaviors have changed significantly since the onset of the pandemic crisis, and families are now doing much of their shopping online as they prepare for learning at home. Unfortunately, fraudsters are primed to capitalize on the ongoing uncertainty.Mid-summer, most public school systems across the country were still assessing their plans for the fall semester. As of August 11, 2020, seven states plus Puerto Rico and the District of Columbia had statewide school closures in effect, and 17 of the 20 largest school districts had decided on remote learning as their back-to-school instructional model, affecting over 4 million students[1].In response, families’ traditional back to school shopping patterns have been upended. According to the Federal Trade Commission, consumers are expected to increase their purchasing this season, and will spend significantly more on electronics like laptop computers to meet students’ distance learning needs. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

40 million new internet users in 2020, report finds

first_imgSINGAPORE — Southeast Asia saw a surge in the use of digital services like e-commerce, food delivery and online payment due to the coronavirus pandemic, according to a new report from Google, Temasek Holdings and Bain & Company.As many as 40 million people in six countries across the region — Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Thailand — came online for the first time in 2020, the report said. That pushed the total number of internet users in Southeast Asia to 400 million. It added that many of the new users came from non-metropolitan areas in Malaysia, Indonesia and the Philippines.Global growth is facing an unprecedented challenge this year due to stringent lockdown measures that have affected businesses and employment across the world.- Advertisement – “When we ask consumers why they chose to use e-commerce, as just one example, during coronavirus, they share with us that yes, it was to avoid potential exposure to coronavirus. But really importantly, near the same percentage of people state it is because it is efficient and they found it to be helpful,” Davis said.Some of the main findings from this year’s report includes:1. Digital financial services are gaining momentum as more small-and-medium-sized businesses have become receptive to accepting online payments. Digital payments are set to grow from $600 billion in 2019 to $620 billion in 2020 as the average number of cash transactions fall and could reach $1.2 trillion by 2025.2. Health technology and education technology sectors received a boost from the pandemic as many people turned to online health consultations while schools shifted to remote learning. Investments into those sectors are growing.3. Online travel and transport sectors were hit the hardest as the pandemic ground international travel to a halt while many people began to work from home. Still, the report predicts online travel to rebound to $60 billion by 2025.4. Regional technology investments rose 17% in the number of deals between the first half of 2019 and first half of 2020 but total deal value fell from $7.7 billion to $6.3 billion. Investors put more money into the financial technology space where deal value rose from $475 million to $835 million in the first half of 2020. Customers and drivers for Grab Holdings Inc.’s GrabFood line up to collect orders at a Pisang Goreng Bu Nanik store in Jakarta, Indonesia, on Monday, July 15, 2019. Globally, the online food order industry has grown into a hyper-competitive field, which has led to consolidation as companies claw for a bigger slice of more than $300 billion in restaurant deliveries. Photographer: Dimas Ardian/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty Images – Advertisement –center_img – Advertisement – Still, the report predicted Southeast Asia’s internet sectors could witness strong growth and hit $100 billion in 2020, with e-commerce registering a 63% growth while the online travel segment contracted 58%. Overall, the region’s internet sectors remain on track to cross $300 billion by 2025.“We’ve been profoundly impacted by the global coronavirus but it has been heartening and encouraging to see that the resilience still exists in Southeast Asia’s digital economy,” Stephanie Davis, vice president for Southeast Asia at Google, said on CNBC’s “Squawk Box Asia” on Tuesday before the report was officially released.Davis explained that Covid-19, which has infected more than 50 million people worldwide, drove a lot of the decision-making for consumers across Southeast Asia. She added that there was encouraging evidence that much of that shift to digital consumption is here to stay.- Advertisement –last_img read more

FDA approves West Nile test to screen blood

first_imgDec 2, 2005 (CIDRAP News) – A test to screen blood and organ donors for West Nile virus (WNV) has won approval by the Food and Drug Administration (FDA) after 2 years of trial use.The FDA yesterday announced approval of the Procleix West Nile virus assay, developed by Gen-Probe Inc., San Diego, and marketed by Chiron Corp., Emeryville, Calif. The test detects West Nile RNA in blood.The test has been used to screen more than 29 million units of donated blood since June 2003 and has detected the virus in more than 1,500 cases, preventing transfusion of contaminated blood into as many as 4,500 people, Gen-Probe officials said in a news release.The test is intended to help protect recipients of donated blood and organs from the virus. The FDA said there have been 30 cases in which people probably acquired WNV from a blood transfusion, and nine of the patients died.”This approval is the result of a tremendous cooperative effort among FDA, other public health agencies, the test kit manufacturers and the blood industry,” Jesse Goodman, MD, MPH, director of the FDA’s Center for Biologics Evaluation and Research, said in a news release.”To develop an investigational test to screen blood, tissue and organ donors, and to get this test in blood banks throughout the country, and then licensed this quickly is a remarkable achievement for public health and patient safety,” Goodman added.Another blood test is available to help doctors diagnose WNV, but it must be used in tandem with other laboratory tests, according to a Reuters report published yesterday. Procleix is the first approved test that stands alone, making it suitable for use by blood banks, the story said.Another WNV blood test, developed by Roche Molecular Systems, Inc., is still being used experimentally, Reuters reported. An FDA official said the agency is allowing Roche to use the test on a trial basis until it has enough data to apply for approval, the story said.Efforts to develop a WNV blood test began in 2002 when it was discovered that the virus could be transmitted in blood, the FDA said. With help from the FDA and other federal health agencies, biotechnology firms developed investigational tests that were quickly adopted on a trial basis. A total of about 1,600 infected donations were detected by the investigational tests, the FDA said.Close to 20,000 cases of WNV illness, with 762 deaths, have occurred in the United States since the virus first arrived in 1999, the FDA said.See also:FDA news release about WNV blood testhttp://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/2005/ucm108523.htmApr 8, 2004, CIDRAP News story “Six West Nile cases in 2003 linked to donated blood”last_img read more

Plava Laguna is investing HRK 2019 million in 300

first_imgIn Poreč, Plava Laguna will also invest in the camping segment in 2019 (AK Puntica, AK Zelena Laguna, AK Bijela uvala and AK Ulika), and more intensive investment in expanding and arranging the existing capacities for accommodation of workers in Poreč and Umag to ensure high quality employee accommodation.  In 2019, Plava Laguna will continue with large investments in its facilities, and will thus invest HRK 300 million in the destinations of Poreč, Umag and Rijeka. Key investments include the construction of a new administrative building of the company in Poreč and the thorough arrangement of the Savudrija camp, which includes new, additional facilities in the camp.  The largest part of this investment is the construction of a new pool complex of 3.200 m2, which will improve the level of service and quality and significantly extend the season and the days of occupancy of the camp. Also, with this investment, the camp will get a completely new atmosphere and provide guests with an extraordinary experience of the destination as well as provide conditions for a top vacation.  Looking at the total of 2018 and 2019, the investments of Plava Laguna amount to more than 750 million kuna, which are the highest amounts in the recent history of the company.  BLUE LAGOON INCREASES INCOME FOR WORKERS ON AVERAGE 8,85% The estimated value of the investment in the camp is 46 million kuna, and it will be the largest investment of Plava Laguna in Umag during 2019. Thus, Camping Savudrija will become a camp for families and couples with the offer of “active vacation”, whereby the existing pitches will be arranged and mobile homes and glamping tents will be introduced.  This year, the investment in Park Resort in Porec amounted to 245 million kuna, and it is a family product consisting of 309 accommodation units, of which 154 hotel rooms and suite, 91 garden suites, 43 apartments and 21 villas. In Umag, among other things, investments were made in the complete reconstruction of the Stella Maris camp, worth 84 million kuna, and in Garden Suites & Rooms Sol Umag in the amount of 35 million kuna. center_img Next year, Plava Laguna is also investing in the Park Umag camp. The value of arranging plots and setting up our own glamping tents amounts to a total of 6,2 million kuna of investment.  In addition, in 2019, Plava Laguna will invest in an administrative building in Poreč, which will be located in the Facinka business zone at the very entrance to the city. The value of the investment is HRK 86 million. The company will also invest in an additional six villas in the Bellevue resort in the Blue Resort. Six newly renovated accommodation units, landscaping, as well as the completion of the process of renovating villas in 2019 will amount to 6 million kuna. Park Resort in Porec This year, Plava Laguna achieved the largest capital budget in its history – half a billion kuna.  RELATED NEWS:last_img read more

Australia opens pop-up coronavirus test clinic at Bondi Beach

first_imgTopics : “We can’t let our foot off the pedal, we can’t relax,” New South Wales (NSW) state Premier Gladys Berejiklian said in Sydney. “It doesn’t take long for things to get out of control.”NSW, the country’s most populous state, is responsible for almost half of the national cases and has imposed the strictest penalties for anybody found breaching the rules restricting movement.At Bondi Beach, health workers wearing masks and plastic gloves greeted people at the pop-up testing clinic. NSW officials said earlier this week the virus may have been transmitted in the Bondi community via an infected backpacker who was not aware they were carrying the disease.”Bondi is one of those places where we are seeing local transmission, and we have seen cases among backpackers in recent days,” NSW Health director Jeremy McAnulty said in Sydney on Wednesday. Bondi made headlines in March when thousands of people were seen ignoring social distancing rules at its world-famous beach.Official data showed that young people aged 20-29 account for the highest rates of coronavirus infections across the country, followed by those in their early 60s. Experts told local media the former were most likely to travel or socialize in groups, while the latter represented the cruise ship demographic.The rate of growth in new infections across Australia has slowed to just under 10% over the past three days, from 25-30% a week ago, raising hopes that Australia is starting to “flatten the curve”.”Whilst there are still more cases each day, we’re not seeing the scenes and the kind of growth in cases that so many other parts of the world are experiencing right now,” Daniel Andrews, the premier of Victoria, the country’s second most populous state, said in Melbourne.The federal government has planned for up to 100 pop-up clinics across the country to ramp up testing in transmission hot spots.In South Australia, the Barossa Valley wine region has closed schools and facilities this week due to a localized outbreak, while six baggage-handlers working at the state’s Adelaide airport have also tested positive to COVID-19.Barossa council mayor Bim Lange said that put pressure on vineyards and related businesses at the height of the grape-picking season.”We’ve had three years of drought, and now this,” Lange told Reuters.A single aged-care facility in Sydney accounts for a quarter of the national death toll.Economic fallout The Reserve Bank of Australia warned on Wednesday the country’s A$2 trillion ($1.23 trillion) economy would likely experience a “very material contraction” in economic activity that would spread across the March and June quarters and potentially longer. The RBA held an out-of-cycle meeting on March 18 when it reduced its cash rate to a record low 0.25% and embarked on a bond buying program to try and shield the economy from the devastation caused by the coronavirus pandemic. Like many countries, Australia’s financial and jobs markets have been roiled by the outbreak, prompting the government to unveil several stimulus packages, including a A$130 billion ($79.9 billion) six-month wage subsidy.center_img Australian authorities opened a pop-up coronavirus testing clinic at Sydney’s Bondi Beach on Wednesday, as the country’s central bank warned the economic fallout from the pandemic could last for more than a year.Authorities were zeroing in on specific areas that have reported clusters of infections, following a sustained slow down in new cases in recent days to around 4,700 nationally. The death toll stands at 20, after a steady creep upward in recent days.Officials have stressed the need for continuing strict social distancing measures despite the slowdown, including restricting the number of people meeting in public to just two and the closure of parks, beaches and gyms.last_img read more

Bacolod SAP beneficiaries get P1.3-B cash aid

first_img“This is a tremendous help to our people at a time when our economy is feeling the effects of this health crisis. This will go a long, long way in helping needy families,” he said. Mayor Evelio Leonardia said on Thursday he is optimistic that such infusion of public funds will pump-prime the local economy. Leonardia, national president of the League of Cities of the Philippines and a member of the Legislative Executive Development Advisory Council, thanked President Rodrigo Duterte for the approval of the second tranche release for this city. (With a report from PNA/PN) BACOLOD City – Beneficiaries of government cash assistance for the coronavirus disease 2019 crisis in this city are expected to receive a total of P1.3 billion in Social Amelioration Program (SAP) grant. In this city, each recipient is entitled to receive P6,000 for two months. On Thursday, the DSWD, through the city’s Department of Social Services and Development, started rolling out the second tranche of the SAP grant to recipients here. Under the Emergency Subsidy Program which is provided under the Bayanihan to Heal As One Act, qualified beneficiaries from low-income households are given the cash aid being downloaded by the Department of Social Welfare and Development (DSWD).center_img Bacolod is one of the few cities granted the second tranche among the 146 cities nationwide. The second tranche of P583.6 million will benefit 97,266 city residents.Some P188.5 million will go to the 15,713 recipients who were listed as “left out” or those who did not avail themselves of the first tranche. Each of them will receive P12,000, which is equivalent to two months. This beneficiary in Barangay 35, Bacolod City receives her Social Amelioration Program (SAP) grant of P6,000 during the release of the first tranche in April. In Bacolod, the SAP beneficiaries are expected to receive a total of P1.3 billion in government subsidy, according to Mayor Evelio Leonardia. PNA Figures released by the city government showed that the first tranche amounting to P588.9 million was distributed to 98,143 residents.Leonardia said that with more than 113,000 family-beneficiaries in this city will benefit from the government’s subsidy program. This was after the Inter-Agency Task Force for the Management of Emerging Infectious Diseases approved the city’s request to extend its enhanced community quarantine status for 15 days from April 30 to May 15.last_img read more