Web Firma http://webfirma.info/ Sat, 21 May 2022 06:49:23 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://webfirma.info/wp-content/uploads/2021/05/cropped-icon-32x32.png Web Firma http://webfirma.info/ 32 32 Invesco Mortgage Capital (NYSE: IVR) shares set for reverse split on Monday, June 6 https://webfirma.info/invesco-mortgage-capital-nyse-ivr-shares-set-for-reverse-split-on-monday-june-6/ Sat, 21 May 2022 05:36:17 +0000 https://webfirma.info/invesco-mortgage-capital-nyse-ivr-shares-set-for-reverse-split-on-monday-june-6/

Shares of Invesco Mortgage Capital Inc. (NYSE: IVR – Get Rating) are expected to consolidate before the market opens on Monday, June 6. The reverse 1-10 split was announced on Monday, June 6. The number of shares held by shareholders will be adjusted after the closing bell on Monday June 6.

IVR stock opened at $1.71 on Friday. The company has a 50-day moving average of $1.96 and a 200-day moving average of $2.48. The stock has a market capitalization of $564.16 million, a PE ratio of -1.53 ​​and a beta of 1.32. Invesco Mortgage Capital has a 52-week minimum of $1.57 and a 52-week maximum of $4.60.

Invesco Mortgage Capital (NYSE:IVR – Get Rating) last reported results on Wednesday, May 4. The real estate investment trust reported EPS of $0.12 for the quarter, beating analyst consensus estimates of $0.09 by $0.03. Invesco Mortgage Capital posted a negative net margin of 180.40% and a positive return on equity of 18.25%. In the same period a year earlier, the company posted earnings per share of $0.11. Sell-side analysts expect Invesco Mortgage Capital to post earnings per share of 0.38 for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 27. Shareholders of record on Friday, April 8 received a dividend of $0.09 per share. This represents an annualized dividend of $0.36 and a yield of 21.05%. The ex-dividend date was Thursday, April 7. Invesco Mortgage Capital’s payout ratio is -32.14%.

IVR has been the subject of several research reports. Zacks Investment Research upgraded shares of Invesco Mortgage Capital from a “hold” rating to a “buy” rating and set a price target of $2.00 for the company in a research note on Thursday. Credit Suisse Group lowered its price target on Invesco Mortgage Capital shares from $3.00 to $2.30 and set an “underperform” rating for the company in a Thursday 10 research note. March. Barclays lowered its price target on Invesco Mortgage Capital shares from $3.00 to $2.00 in a report on Wednesday, April 27. Finally, StockNews.com launched coverage on Invesco Mortgage Capital stocks in a Thursday, March 31 research report. They put a “sell” mark on the stock.

Major investors have recently been buying and selling shares of the company. 180 Wealth Advisors LLC bought a new position in Invesco Mortgage Capital in Q4, valued at around $26,000. Gotham Asset Management LLC acquired a new stake in Invesco Mortgage Capital in Q3 for approximately $33,000. GHP Investment Advisors Inc. acquired a new stake in Invesco Mortgage Capital in Q4 worth approximately $31,000. Running Point Capital Advisors LLC acquired a new stake in Invesco Mortgage Capital in Q1 worth approximately $25,000. Finally, Sage Rhino Capital LLC acquired a new stake in Invesco Mortgage Capital in Q4 worth approximately $31,000. Hedge funds and other institutional investors own 53.13% of the company’s shares.

About Invesco Mortgage Capital (Get an evaluation)

Invesco Mortgage Capital Inc operates as a real estate investment trust (REIT) primarily focused on investing, funding and managing mortgage-backed securities and other mortgage-related assets. It invests in residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) which are secured by a

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Utah companies look to higher education for hiring advantage in tight job market https://webfirma.info/utah-companies-look-to-higher-education-for-hiring-advantage-in-tight-job-market/ Fri, 20 May 2022 22:28:00 +0000 https://webfirma.info/utah-companies-look-to-higher-education-for-hiring-advantage-in-tight-job-market/

Utah is amazing 1.9% unemployment rate is a new low that politicians often boast as a sign of the state’s booming economy. It’s also fueling a protracted post-pandemic labor shortage as businesses struggle to find workers. Increasingly, employers are turning to education for help.

Utah’s higher education system has held town hall meetings with leaders from industries such as technology and healthcare to understand what adjustments need to be made. On Friday, they heard about manufacturing, a huge and growing industry that represents 1 in 5 jobs in Utah and pays about 40% more than the state average.

Executives have said the talent shortage they face is urgent. The traditional model of students leaving for a university or technical college for additional training takes too long and now they have to step in.

“The industry needs to do its part,” said Matt Wardle, CEO of JD Machine Corp.., a component supplier in Ogden. “We have to be very closely linked with the education and the direction of the program. Workplace learning is essential in this whole process.

The relationship between industries and schools has grown, but is often hampered by bureaucracy and outdated requirements. Even students who already work in labs while earning degrees often have to quit their jobs to take a lab course at a university, said Jeff Nelson, president of Nelson Laboratories. This represents a huge waste of time and a missed opportunity.

Chuck Taylor, president of the aircraft manufacturer SyberJet in Cedar City, said it is working with Southern Utah University and Southwest Technical College to enable employees to earn additional certifications and training that supplement what they learn on the job. While SUU Aircraft Maintenance Engineer Program recently received re-certification from the Federal Aviation Administration, Taylor is now going through a similar process but pending approval.

“This particular program is a great progression for our employees,” he said. “But it will require the cooperation of higher education as well as accreditation councils. But it’s worth it, I think.

The change ultimately amounts to better opportunities for students. Business leaders say they must not only offer higher wages, but also create more supportive workplaces by providing flexible hours, mentoring and ensuring employees have opportunities for growth.

“Employees have so many choices right now,” Nelson said. “We all do a lot to invest in culture.

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A local woman appears on “Love on the Spectrum” https://webfirma.info/a-local-woman-appears-on-love-on-the-spectrum/ Fri, 20 May 2022 14:41:00 +0000 https://webfirma.info/a-local-woman-appears-on-love-on-the-spectrum/ A woman from Greenville is part of a new documentary series on Netflix that follows young adults with autism as they dive headfirst into the dating pool. And part of it was filmed in downtown Greenville. Kaelynn Partlow, 24, is on the autism spectrum and works as a senior therapist at Project Hope Foundation, a non-profit organization that provides lifelong services to the autism community. Autism is a developmental disorder that typically affects social skills, which can make interpersonal relationships a challenge at times. On the show, Kaelynn, who lives with her best friend (and fellow therapist of Hope), tries her hand at speed dating, despite the disheartening dating experiences she’s had in the past. Season 3 of the show was released on Netflix this week. Partlow hosted a watch party on Wednesday at Gray Court. (The video above is from the watch party) After that, she talked about her experience on the show. “I would say overall it was a very good experience. I think the crew and the production did a lot of work to educate themselves about autism. So they were really sensitive to the different sensitivities of the people in terms of sensory sense or just being overwhelmed. They were really aware of that so I was really grateful. Watch the trailer below and see if you can notice any downtown Greenville locations Rotten Tomatoes gave it a score of 100%.

A Greenville Woman is part of a new docu-series on Netflix that follows young adults with autism as they dive headfirst into the dating pool.

And, part of it was filmed in downtown Greenville.

Kaelynn Partlow, 24, is on the autism spectrum and works as a senior therapist at Project Hope Foundationa nonprofit organization that provides a lifetime of services to the autism community.

Autism is a developmental disorder that typically affects social skills, which can sometimes complicate interpersonal relationships.

On the show, Kaelynn, who lives with her best friend (and fellow therapist of Hope), tries her hand at speed dating, despite the disheartening dating experiences she’s had in the past.

Season 3 of the show was released on Netflix this week.

Partlow hosted a watch party on Wednesday at Gray Court.

(Video above is from watch party)

After that, she talked about her experience on the show.

“I would say overall it was a very good experience. I think the crew and the production did a lot of work to educate themselves about autism. So they were really sensitive to the different sensitivities of the people in terms of sensory sense or just being overwhelmed. They were really aware of that, so I was really grateful.

Watch the trailer below and see if you can spot any downtown Greenville locations.

Rotten Tomatoes gave it a score of 100%.

This content is imported from YouTube. You may be able to find the same content in another format, or you may be able to find more information, on their website.

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High Court overturns Goromonzi residents’ conviction for ‘Covid-19 vaccine research’ https://webfirma.info/high-court-overturns-goromonzi-residents-conviction-for-covid-19-vaccine-research/ Thu, 19 May 2022 15:21:25 +0000 https://webfirma.info/high-court-overturns-goromonzi-residents-conviction-for-covid-19-vaccine-research/

The High Court has quashed the convictions of three Goromonzi residents who were fined ZWL5,000 each last year for disorderly conduct when they allegedly protested coronavirus vaccine stock-outs at Chinyika Clinic .

The three residents of Goromonzi, namely 23-year-old Kudakwashe Parankinyu, 18-year-old Tanaka Zidoro and 21-year-old Tadiwanashe Gwena, were sentenced on November 12, 2021 by a Goromonzi magistrate after being tried for disorderly conduct such as defined in Section 4(a) and (b) of the Criminal Law (Codification and Reform) Act.

Parankinyu, Zidoro and Gwena had been arrested on July 9, 2021 while seeking coronavirus vaccinations at the Chinyika Clinic in Goromonzi by Zimbabwe Republic Police officers, who accused them of acting as a way likely to cause a breach of public order. The arrest came after the trio allegedly behaved in an insulting, threatening and disorderly manner asking why there were no coronavirus vaccines in stock at Chinyika Clinic at a time when residents needed to be vaccinated.

During their trial, prosecutors claimed that the conduct of Parankinyu, Zidoro and Gwena terrified the doctors at Chinyika Clinic and crippled business.

But on Monday, May 16, 2022, High Court judges Judge Happias Zhou and Judge Benjamin Chikowero quashed their conviction and sentence and found the trio not guilty and acquitted them.

This came after their lawyer Tapiwa Muchineripi from Zimbabwe Lawyers for Human Rights appealed the conviction and sentence on the grounds that their conviction was wrong in law as prosecutors had presented no credible evidence to justify their conviction.

Muchineripi also argued that the magistrate rendered a decision based exclusively on the testimony of state witnesses to the complete exclusion of evidence given by the trio even during their defense.

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UTStarcom Announces Date for Extraordinary General Meeting to Approve Reverse Stock Split https://webfirma.info/utstarcom-announces-date-for-extraordinary-general-meeting-to-approve-reverse-stock-split/ Wed, 18 May 2022 10:02:02 +0000 https://webfirma.info/utstarcom-announces-date-for-extraordinary-general-meeting-to-approve-reverse-stock-split/

HANGZHOU, China, May 18, 2022 (GLOBE NEWSWIRE) — UTStarcom (“UT” or the “Company”) (NASDAQ: UTSI), a global telecommunications infrastructure provider, today announced that it will hold a Extraordinary General Meeting of its shareholders (the “EGM”) on Monday, June 27, 2022 at 2:00 p.m. China Standard Time, to obtain approval for a one-for-four reverse stock split. UTStarcom’s Board of Directors believes that the implementation of a reverse stock split is likely to improve the marketability and liquidity of UTStarcom common stock.

The meeting will take place at the UTStarcom office located at 4and Floor, South Wing, 368 Liuhe Road, Binjiang District, Hangzhou 310053, People’s Republic of China. If approved, the Reverse Stock Split will become effective upon approval by the shareholders of the Company. Upon effectiveness, all four outstanding and authorized common shares of UTStarcom on the Effective Date will automatically be combined into one issued and outstanding common share.

About UTStarcom Holdings Corp.

UTStarcom is committed to helping network operators provide their customers with the most innovative, reliable and cost-effective communication services. UTStarcom offers advanced, high-performance equipment optimized for the fastest growing network functions, such as mobile backhaul, metro aggregation, and broadband access. UTStarcom has operations and customers around the world, with a particular focus on Japan and India. UTStarcom was founded in 1991 and listed its shares on the Nasdaq market in 2000 (symbol: UTSI). For more information about UTStarcom, please visit http://www.utstar.com.

For investor and media inquiries, please contact:

UTStarcom Holdings Corp.
Tel: +86 571 8192 8888
Ms. Shelley Jiang, Investor Relations
Email: utsi-ir@utstar.com/shelleyjiang@utstar.com/

In the USA:

The Blueshirt Group
Mr. Gary Dvorchak
Email: gary@blueshirtgroup.com

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Chicago Fed wants smaller U.S. rate hikes by July or September to gauge inflation and labor market https://webfirma.info/chicago-fed-wants-smaller-u-s-rate-hikes-by-july-or-september-to-gauge-inflation-and-labor-market/ Wed, 18 May 2022 02:24:32 +0000 https://webfirma.info/chicago-fed-wants-smaller-u-s-rate-hikes-by-july-or-september-to-gauge-inflation-and-labor-market/

Chicago Federal Reserve Chairman Charles Evans said Tuesday he supports moving to a shallower rate hike path by July or September to give the Fed time to assess inflation and the labor market as it pushes borrowing costs to neutral, and likely beyond.

“I think frontloading is important to accelerate the necessary tightening of financial conditions, as well as to demonstrate our commitment to containing inflation, thereby helping to keep inflationary expectations under control,” Evans told Money Marketeers in New York, noting that inflation is “far too high”.

The Fed has hiked interest rates by three-quarters of a percentage point so far this year, including a bigger-than-usual half-point hike at the start of the month that carried the costs of short-term borrowing at a range of 0.75% to 1%.

Fed Chairman Jerome Powell has signaled that at least two half-point rate hikes are coming. On Tuesday, he told the Wall Street Journal that the central bank would continue to “push” rate hikes until it sees inflation coming down “in a clear and convincing way”, not hesitating to act in a more aggressive if that didn’t happen. Read the full story

Rates will likely need to break above neutral, Evans told reporters, but pushing them there makes him “nervous,” in part because it’s hard to know exactly when rates will start to bite into growth, and other risks could suddenly emerge.

So rather than charging forward at half-point jumps, Evans wants to go slower.

“I expect in July, September, we’ll talk about it,” Evans told reporters after his speech. By December, he said, he expects “we will have completed 50 (basis point increases) and implemented at least some 25 (basis point increases)”.

This slower pace would give the Fed time to test whether supply chain issues are easing and assess inflation dynamics and the impact of rising borrowing costs on what he called a “downright tight” labor market. Unemployment is at 3.6% and job vacancies are at an all-time high.

“If we need to, we will be well placed to react more aggressively if inflation conditions do not improve sufficiently or, alternatively, to reduce the expected adjustments if economic conditions soften in a way that threatens our employment mandate,” Evans said.

Fed policy rate futures prices reflect expectations of a year-end policy rate range of 2.75% to 3%, and rate hikes as high as 3% to 3.25% .

Critics, including several former US central bankers, have recently warned that the Fed, by waiting too long to raise rates, has prepared the economy for a recession.

“Given the current strength in aggregate demand, strong demand for workers, and improvements on the supply side that I expect, I believe a mildly restrictive stance will still be consistent with a growing economy,” he said. said Evans.

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Why these reps are the best in the business | REA https://webfirma.info/why-these-reps-are-the-best-in-the-business-rea/ Tue, 17 May 2022 19:06:41 +0000 https://webfirma.info/why-these-reps-are-the-best-in-the-business-rea/ Left to right: Carrie Childerston of DNA Sales, Sara Vielma-Bay of Fine Lines, and Kristina Kase of Road Runners, LLC.

By helping to connect retailers and manufacturers, sales reps play a pivotal role in the gift and homeware industry. Not only do they foster communication between buyers and sellers, but they also act as business partners for their independent retail clients, helping to create engaging displays, announcing in-store events, advising on trends products and overall contributing to the success of a store. These three sales reps have been nominated as some of the best in the nation and are now up for the 2022 Sales Rep of the Year award, which will be presented at Gifts & Decorative Accessories’ annual REA Gala on June 22 in Dallas.

Sales Representative of the Year Finalists

Dozens of sales representatives were nominated as the best of the best, but only three could be named finalists for the awards ceremony. Learn more about each of the REA finalists below.

Carrie Childerston with DNA Sales

Childerston’s ability to stay on top of her game and anticipate trouble earned her a nomination for Best Sales Representative of the Year. Nominated by a grateful retailer, Childerston was praised for her excellent customer service and attention to detail. “Not only does she address issues as they arise, but she predicts and resolves them before the customer is impacted,” one retailer wrote of her. Childerston also helps drive business for her customers by sharing and promoting her retailers’ Facebook Live events, making her a true business partner.

Sara Vielma-Bay with fine lines

A sales representative for over 35 years, Vielma-Bay has had a successful career as an outside independent salesperson, which tops the list of hard-to-pursue professions. Success requires organization, motivation, understanding, ingenuity, perseverance, intelligence and strong interpersonal skills, all of which are possessed by Vielma-Bay. She has spent the majority of her time as a sales representative selling some of the largest book publishers in the world including Penguin Random House, Workman, Harper Collins and Union Square (formerly Sterling Publishing) and is still one of the top performers. from the country. . She is loved by her customers and helps guide them through the purchase of one of the toughest categories in our industry: books.

Kristina Kase with Road Runners, LLC

Kase’s wealth of knowledge, both about the product she represents and about trends, along with her extra approach to customer service has earned her a place in the top three sales reps list. “Kristina knows her merchandise (and) always points me in the right direction of what’s new and fun,” one retailer noted in her nomination form. “Plus she helped me set up our holiday store in her spare time using some of her own creative ideas for display. She is always professional and has a great attitude as well as being super friendly I rely on her and trust her judgement.

Take a closer look at REAs

Hosted by Gifts & Decorative Accessories, the 71st Retailer Excellence Awards (REA) will honor 21 brilliant and innovative retailers, as well as top sales reps across the country and voted Best Manufacturer of the Year. The ceremony, which will take place June 22 at the Tower Club in Dallas, promises to be the most exciting yet, with virtual golf networking opportunities and even a mechanical bull in addition to the usual cocktail hour, traveling dinner and prize-giving.

Also at the REA Awards Gala, columnist Warren Shoulberg will receive the 2022 Industry Achievement Award from Gift for Life. Learn more about Shoulberg’s achievement and how you can donate to World Central Kitchen in his honor.

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Brex: 2022 CNBC Disruptor 50 https://webfirma.info/brex-2022-cnbc-disruptor-50/ Tue, 17 May 2022 10:36:43 +0000 https://webfirma.info/brex-2022-cnbc-disruptor-50/

Founders: Henrique Dubugras, Pedro Franceschi (co-CEO)
Spear : 2017
Headquarter: Remote first
Funding:
$1.2 billion
Evaluation: $12.3 billion
Key technologies:
Cloud computing, machine learning
Industry:
fintech
Previous appearances on the Disruptor 50 list: 1 (#6 in 2021)

Brex offers start-ups lines of credit and software to manage their finances. While its main product – an unsecured, high-limit payment card for start-ups – exposes it to high-risk businesses that could go bankrupt, the company manages risk using real-time customer data. to help make dynamic lending decisions.

Today, the company has more than 10,000 enterprise customers, including startups like Boxed and Outdoor Voices, and former startups that have become large public companies, like DoorDash and Airbnb.

Brex likes to say that its business services extend the power of every dollar, freeing up startups to pursue big dreams without worrying about unnecessary expense. Today, making every dollar count in money-consuming businesses has never been more important. Brex has a view on the balance sheet of hyper-growth start-ups like few companies in the economy do, and after 2021’s record venture capital sums, its business model is being tested in new ways. ways as the tech sector shifts from growth at all costs to focusing on cash flow and profits.

More CNBC Disruptor 50 2022 coverage

Brex is among the start-ups that have benefited from the liquidity of the venture capital industry. Its two most recent rounds included a $425 million fundraise in April 2021, led by investment firm Tiger Global, and a $300 million fundraise in January this year, led by Greenoaks Capital and Technology Crossover Ventures. Brex has now raised over $1.2 billion from investors who also include Y Combinator and PayPal co-founders Max Levchin and Peter Thiel, as well as over $300 million in credit lines from Barclays and Credit. Swiss.

He spent some of his own horde of cash on a cash flow-focused acquisition last month, acquiring software company Pry for $90 million in April. The software helps founders project cash flow and track budgets, and categorize revenue and costs.

In some ways, the early days of the pandemic, when Brex limited customer lines of credit and was itself forced into layoffs, served as a test case for what might happen in the start-up world. up during a larger economic downturn. “We assume that 70% of our businesses will close every two years because we serve startups and most startups fail,” co-founder and co-CEO Henrique Dubugras told CNBC l last year after the pandemic crash has become a boom again. “I think it’s known and okay.”

As its original start-up sweet spot faces an economic crisis, the company has expanded its roster of services and clients for large enterprises. DoorDash was the first customer for a software product launched in April called Empower, which took Brex away from reliance on card fees and further into subscription-based revenue.

Empower was launched with a focus on expense management, tracking travel, purchases, payments and access to banking services. Its core service remains essential for all businesses when tighter vessel management is required.

“We want to help companies build a culture of trust – but a culture of financial discipline so that it’s not free for all,” Dubugras said in a TechCrunch interview.

Earlier this month, the company expanded Empower to serve employees of U.S.-based businesses in more than 100 countries, and it will then enable local corporate subsidiaries to manage card statements and currency collections. local.

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The economy and markets look like the year 2000 again https://webfirma.info/the-economy-and-markets-look-like-the-year-2000-again/ Mon, 16 May 2022 09:39:55 +0000 https://webfirma.info/the-economy-and-markets-look-like-the-year-2000-again/

An exceptionally robust labor market. The Federal Reserve is raising interest rates at a rapid pace. Overheated financial markets are beginning to correct, with the foamier sectors bearing the brunt.

This is the situation today — and this was also the situation in the spring of 2000, when the Internet bubble began to burst. A recession followed, but not for a year later.

Why is it important: The year 2000 offers important lessons about the nature of the risks facing the economy – and what to watch for to understand just how bumpy the ride from here could be.

Rollback: The stock market peaked in March 2000. But as the year progressed, signs showed the good times were coming to an end for cash-burning Internet companies.

  • The layoffs started as a trickle and became a spurt. IPOs have been suspended and companies that have gone public have seen their stock prices drop. Websites have sprung up to track the burn rate and layoff plans of “F*d” companies.

Yes, but: The overall economy has actually held up well throughout this year. The vast majority of people, after all, weren’t working for dot-com companies, and corporate America as a whole was still fundamentally optimistic about investing and hiring.

  • The number of people filing new unemployment claims hit a multi-decade low in April 2000 and only began to rise in earnest at the end of the year. The jobless rate ended the year at 3.9%, just one-tenth above its April low.
  • Inflation hit a decade high of 3.8% in March, and the Fed raised interest rates by half a percent in May in an attempt to bring inflation under control.

It was only in 2001 that the wheels began to come off the broader economy, as companies scaled back growth plans and layoffs became widespread. Economists would ultimately date the start of a recession to March 2001 – a full year after the stock market peaked.

  • What’s more, it was an exceptionally mild recession — and might not have been considered a recession at all if the September 11, 2001, terrorist attacks hadn’t happened. The attacks sent an already shaky economy into a temporary slump – a reminder that geopolitical events can cause more economic pain when the situation is already precarious.

The big picture: If you take the parallels between yesterday and today seriously, it has important implications for how the economy will perform in the months to come – and what to watch out for if a full recession occurs. .

  • Watch carefully if corporate behavior starts to change outside the companies most directly impacted by the stock market sell-off and crypto meltdown. It doesn’t matter much to the overall economy if Robinhood or Coinbase lay off – but it’s a different story if the whole slate of companies start doing the same or cut capital spending plans.
  • Consumer demand propelled the economy forward and was the reason the recession was so mild in 2001; there was not a single quarter that year in which personal consumption expenditure declined. This also seems true in this episode, given the strength of household balance sheets and rising wages.
  • Pay more attention to corporate debt markets than to the stock market. The real economic problems of 2001 came when losses in the telecommunications sector caused a wave of bankruptcies and led investors to sell all types of corporate bonds, which tightened the flow of credit in the economy. , a key feature of the 2001 recession.

One more thing : Be prepared for recriminations. The economic downturn of two decades ago revealed a deep rot in companies far removed from the dot-com boom, like energy trading company Enron and industrial company Tyco International.

The bottom line: The United States may well escape a recession this time around. But when market sentiment reverses, as it did 22 years ago and does now, it becomes more vulnerable to any bad news that may come.

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Despite having the highest unemployment rate in Canada, here’s why NL. recruits Ukrainian refugees https://webfirma.info/despite-having-the-highest-unemployment-rate-in-canada-heres-why-nl-recruits-ukrainian-refugees/ Sat, 14 May 2022 08:30:00 +0000 https://webfirma.info/despite-having-the-highest-unemployment-rate-in-canada-heres-why-nl-recruits-ukrainian-refugees/
Zoriana, nine, greets her sister, Sofia, moments after she and their mother, Natalia, arrived in St. John’s from Poland on Monday. The Newfoundland and Labrador government has chartered a flight for 166 Ukrainian refugees and is planning more. (Greg Locke/The Canadian Press)

It was quite the scene. A plane full of Ukrainian refugees landed Monday night in St. John’s, with a large group of well-wishers waiting inside the airport, waving flags in vibrant blue and yellow hues.

The politicians were there too, of course, making the timing of the event – it happened to coincide with the suppertime news – all the more visible.

Newfoundland and Labrador has thus become the first province to receive by plane Ukrainian refugees, who have fled their country in droves since Russia invaded their country in February.

In addition to responding to a critical humanitarian need, Newfoundland and Labrador has not hesitated to turn to Ukrainian refugees to fill vacant positions. Gerry Byrne, the Minister for Immigration, Population Growth and Skills, said before the flight arrived that some of the 166 people on the flight from Poland had jobs they could access directly (assuming that after a good night’s sleep).

Prime Minister Andrew Furey said Monday’s charter would not be the last. He also pointed out that NL’s response was based on a place of compassion and help.

A Ukrainian was happy to arrive in St. John’s on Monday. (Greg Locke/The Canadian Press)

“We knew we could step onto the world stage, which we have [done] before, whether it was 9/11 or World War I,” said Furey, whose government set up an office in Poland this winter to help refugees crossing the Ukrainian border.

It is difficult to grasp the extent of this deluge of humanity. On Thursday, a United Nations organization updated its mass migration estimate to say more than six million people fled Ukraine in less than three months.

To put that number into perspective, that’s more than the population of British Columbia – and with Newfoundland and Prince Edward Island as well.

A safe haven comes first, says Furey

Furey told CBC Monday that there were about 600 to 700 Ukrainians “now in the queue” in Poland to come to Newfoundland and Labrador.

He also pointed out that in addition to a humanitarian response, Newfoundland and Labrador could benefit from increasing its labor pool.

WATCH | Watch scenes from the Monday night landing of NL’s first charter flight for Ukrainian refugees:

Ukrainian refugees land in St. John’s

More than 150 Ukrainian refugees familiarize themselves with their new province of origin. A plane loaded with 166 people landed in St. John’s Monday night. Hear from one of the province’s newest residents and watch a joyful reunion in the video above.

“Certainly, we all know there are labor demands here. But more importantly, it needs to be a place, a safe haven,” he said.

“So all these details about [labour market] saturations and balance of immigration versus job opportunities, we will sort that out over time,” he said. “Above all, we want to provide a safe haven and a place of hope and optimism for these people.

At first glance, it may seem strange that the province with the highest unemployment rate in Canada is eager to attract new job seekers.

But the job market here is much more complex than it seems, and there are key factors – where someone lives, and how old and qualified they are – tied to the story.

NL’s unemployment rate in April was 10.8%, much higher than in other Canadian provinces. Those most likely to be unemployed fall into two main groups: those under 25, who are trying to step foot in a door and launch a career, and those over 54, who are trying to move forward. their careers, or at least pay the bills. Similar anxieties, at different ends of the age spectrum.

Demographic dilemmas

Despite that number, it’s very common these days to see signs of asking for help in the St. John’s area and to hear from employers across multiple sectors – from the booming tech sector to home care to the service economy – say they have problems recruiting workers. At least, again, in the metropolitan area.

“Help Wanted” signs are once again common in St. John’s. Employers ranging from gas stations to tech companies are advertising for new workers. (Paul Daly/CBC)

Indeed, location is an important factor here.

The unemployment rate in St. John’s in April was 7.2%. Not the lowest among Canadian cities (hello, Quebec, which is at 2.6%), but comparable to Calgary (7.1%) and not so far from Toronto, at 6.4%.

Once you eliminate St. John’s from the equation, a darker picture emerges for the rest of the province. The rest of the province has an unemployment rate of 15.9%.

The province’s well-known demographic issues—there are now many more older adults than young children—provide the sobering subtext behind all of these conversations. The recently published national census showed that NL was the only province to lose population during this five-year period.

The number of births has been below 4,000 per year for some time, and that is should continue for years. In contrast, the number of annual deaths is already over 5,000 per year, and this number is expected to climb to 8,000 per year over the next two decades.

Ukrainians are entering a labor market that may be recruiting, but has some problems. New Canadians pointed out that there are many problems to be solved, especially a lack of consistent health insurance coverage.

“It could really help our economy”

Nevertheless, employers are looking. Wanda Cuff-Young, who works with the agency Work Global Canada, told CBC News last month that she quickly heard about a lot of professions when she posted an email address in a group Facebook aiming to connect refugees to work and amenities.

“Nurses, IT people, engineers, speakers, marketing…they come from a wide variety of backgrounds,” Cuff-Young said. The St. John’s Morning Show.

The flow18:52Helping Ukrainian refugees start a new life in Newfoundland

Ukrainian refugees have arrived in Newfoundland this week, but what support will they need if local authorities are to help them build their lives there? Matt Galloway chats with newcomer Lesya Dunaevskaya, local volunteer Brandon Ramey and Tony Fang, Professor of Economics at Memorial University of Newfoundland.

Right now, the first planeload of Ukrainian refugees is moving in, and groups like the Association for New Canadians are working to put in place the material comforts people need. Housing, child care and other issues need to be addressed, as does matching newcomers with work they can accept.

Wanda Cuff-Young sifts through a pile of resumes from Ukrainians looking for jobs in Newfoundland and Labrador. (Caroline Hillier/CBC)

Moreover, no one knows how long the Ukrainians can stay. The Russian war is still raging, and it is not at all unlikely that some on charter flights want to make their fortunes in other provinces.

But Cuff-Young is optimistic and points out that Newfoundland and Labrador has long benefited from the arrival of people from other shores.

“It could really help our economy,” Cuff-Young said. “New people bring new business, new ideas.”

Learn more about CBC Newfoundland and Labrador

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