Powell says fed

- A + A KUALA LUMPUR (Aug 9): The Federal Court has ruled that road accident victims should be automatically compensated without having to sue insurance companies, according to a report by Free Malaysia Today . In delivering the landmark ruling, Federal Court judge Datuk Abdul Rahman Sebli said the provisions of the Road Transport Act 1987 should be construed to protect all motorists, including victims of road accidents. He also said that Parliament's intention in enacting the law was to protect innocent third-party road users. According to the news portal, Rahman said this in a 140-page judgement on a decision delivered by a three-member bench he led last week — the two other judges were Datuk Seri Hasnah Mohammed Hashim and Datuk Rhodzariah Bujang — that allowed the appeals of eight motorists, seven of whom were injured in motor accidents. Five of the appeals involved Pacific & Orient Insurance Co Ltd, Amgeneral Insurance Bhd, Allianz General Insurance … [Read more...] about Landmark: Fed Court rules that crash victims should be automatically compensated

Share to Twitter Share to Linkedin It’s a popular narrative on the Left at the moment to say that members of the Right have an unhealthy disdain for “experts.” Washington Post columnist Catherine Rampell is a notable critic on the matter, but the view here is that her criticism misses the mark. Reasonable members of the Right don’t loathe experts as much as they dislike central control. Reducing all of this to the absurd, let’s imagine for fun that the smartest individual in the United States is none other than our President, Joe Biden. In a nation populated by geniuses, Biden sitting at the top in terms of intelligence wouldn’t alter a simple truth frequently ignored by the expert reverent: there’s arguably not a fraction yet conceived that could properly convey how small Biden’s knowledge would be relative to the collective knowledge of the American people. All of which hopefully explains why markets always and everywhere beat central planning. It’s … [Read more...] about Central Planning Fails Just As Much When Conservatives Are the Planners

RBI Governor Shaktikanta Das. (File photo) Dear Reader , A day before the monetary policy announcement, the yield on the 10-year bond fell sharply on a media report that the MPC would signal a pause after Friday’s hike. Thankfully, the MPC held firm, refusing to oblige the bond markets. Not only did it increase the repo rate by 50 basis points, but also the MPC signalled more rate hikes in future by refusing to tone down its ‘withdrawal of accommodation’ stance. Much is being made of the fact that the policy rate is now at the pre-pandemic level. At 5.4 percent, the repo rate is now back to where it was in September 2019. But that is n​o big deal. GDP growth was a measly 3.7 percent in 2019-20 compared to RBI’s projection of 7.2 percent in 2022-23; retail inflation was a much lower 4.8 percent in 2019-20, compared to a projected 6.7 percent for 2022-23; the current account deficit was a comfortable 0.9 percent of GDP in 2019-20 as against projections of around 3 percent … [Read more...] about Moneycontrol Pro Weekender | Shaktikanta Das refuses to pivot

GAS LINES IN AMERICA… Four Governors Declare States Of Emergency Due To Gasoline Shortage Four governors declared states of emergency in response to gas shortages brought on by the Colonial Pipeline hack. Democratic North Carolina Gov. Roy Cooper declared a state of emergency on Monday due to his state’s gas shortage. Republicans Govs. Brian Kemp of Georgia and Ron DeSantis of Florida, and Democratic Virginia Gov. Ralph Northam declared states of emergency on Tuesday. Republican South Carolina Gov. Henry McMaster announced that he would not declare a new state of emergency because the state was already in one due to the COVID-19 pandemic. Kemp suspended Georgia’s gas taxes, while Cooper eliminated transportation regulations. McMaster instituted anti-price gouging laws. Virginia Republicans called on Northam to suspend the state’s gas tax. CBS NEWS… The South was being hit hardest. Late Monday, almost 6.5% of gas stations in Virginia were out of fuel, … [Read more...] about Editor Daily Rundown: Governors Declare States Of Emergency In Response To Gas Shortages

U.S. stocks continued to claw their way back last week, especially growth stocks . For the week, the Nasdaq posted a gain of 2.2% and the S&P 500 rose 0.4%. The Dow? Not so much, sliding just 0.1%. A blowout jobs report for July offered up another dose of good news for the economy and not-so-good news for the stock market, but equity investors hung in there. U.S. employers added 528,000 jobs to their payrolls last month , which was more than twice what was expected, and that added credence to the Federal Reserve 's stance that the U.S. economy is not in a recession given the continued strength of the labor market. So, the thinking goes, the Fed will continue to be aggressive in raising interest rates to cool down inflation, because it's not impacting companies' willingness to hire. That led to a steep selloff in U.S. Treasurys, with the yield on the 10-year Treasury note ending the week at 2.83%. Oil prices continue to tumble, hitting their lowest level since early … [Read more...] about Live from InvestFest with Downtown Josh Brown, BitBoy Crypto, and Lamar Wilson

This story is part of Fast Company’s Most Creative People in Business 2022 . Explore the full list of innovators who broke through this year—and had an impact on the world around us. advertisement “The hot dog is sort of an ambassador for the company,” says Gina Asoudegan, who for 16 years has helped New Jersey-based Applegate Farms fulfill its mission of “changing the meat we eat.” Although they aren’t Applegate’s top-selling item—chicken nuggets are—hot dogs, with their iconic American food status, have become a showcase for innovation at the company, which sells humanely raised, non-GMO, antibiotic-free deli meats, sausages, burgers, bacon, and cheese in more than 22,600 stores nationwide. (Hormel Foods purchased the company in 2015 for roughly $775 million). When it landed on grocery shelves last November, the Do Good Dog became the first nationally distributed hot dog “made with beef raised on verified regenerative U.S. grasslands,” the culmination of a … [Read more...] about Hot diggity! Applegate’s Do Good Dog is a regenerative-agriculture first

Share to Twitter Share to Linkedin The Cake Boss made sure this Super Bowl dessert would be sweet for fans of both teams. In my last post , I wrote about how impressed I was with Indianapolis as a tourist city and as a host for what had to be the smoothest, best run Super Bowl imaginable. In a week filled with parties, big name concerts and all sorts of VIP events, the Taste of the NFL and its Party With A Purpose took the cake - except in this case the cake was a huge depiction of a football field complete with edible Eli Manning and Tom Brady jerseys and even the Vince Lombardi Trophy. The thing that makes this event so notable is that it is not new and not specific to any host city - it has been held for 21 straight years of Super Bowls, and will be held again next year (2013) in New Orleans, and after that in New York, and then Phoenix. My suggestion? Buy a ticket. The cool thing is you don’t have to be going to the game, which for most … [Read more...] about Super Bowl’s “Taste Of the NFL” – The Best Food Event You Never Heard Of

Share to Twitter Share to Linkedin Topline New housing starts unexpectedly plunged more than economists projected in June as home builders grappled with the effects of rising interest rates curbing demand for new homes, according to data released Tuesday, adding to signs of an abrupt turnaround in the booming housing market. Key Facts The number of housing starts, or ​​new houses on which construction has started, fell 2% to about 1.56 million last month despite average economic projections calling for an increase of 1.4%, the Census Bureau reported Tuesday. Building permits were slightly above expectations, coming in at less than 1.7 million, but fell from May and are down from about 1.8 million in April. In emailed comments after the release, LPL Financial chief economist Jeffrey Roach said housing starts declined because demand is “quickly drying up” from higher borrowing costs as the Federal Reserve raises interest rates, though he … [Read more...] about New Home Construction Keeps Sinking As Housing Market Demand ‘Quickly’ Dries Up