US central bank unveils alternative to Facebook’s Libra

first_imgNoting security concerns posed by Facebook’s digital currency Libra, the Federal Reserve on Thursday revealed details of its own instant payments system.FedNow will provide households and businesses with instant access to payments, for wages, government benefits or sales, without waiting days for checks to clear, the Fed said.The system, which is not due to launch for two to three years, “will be designed to maintain uninterrupted 24x7x365 processing with security features to support payment integrity and data security,” the central bank said. Facebook’s announcement last year of plans to design the Libra cryptocurrency and payments system raised immediate red flags for global finance officials who expressed a barrage of withering criticism about the security and reliability of a private network.Facebook’s Libra project has “raised other fundamental questions about legal and regulatory safeguards, financial stability, and the appropriate role of private money,” Fed Governor Lael Brainard said in a speech Thursday.But the United States central bank already has experience providing reliable clearing of private payments. “We are committed to building an instant payment system that delivers the payment speed that users want without bypassing the legal and regulatory protections they have come to expect from banking relationships,” Brainard said. She noted that the government’s emergency aid programs during the COVID-19 pandemic “underscores the importance of rapid access to funds for many households and businesses that face cash flow constraints.”The initial design of FedNow came following thousands of comments from interested parties, some of whom also raise concerns about Libra, and additional features will be announced as it gets closer to roll out.Brainard said key features include fraud protection tools, ability for banks to ensure funds are available after hours and on weekends, ability to work with private payment systems, and those systems where users are identified with aliases, like email addresses, rather than account numbers.”Ultimately, the FedNow Service can be a catalyst for innovation in the market by providing a neutral platform on which the private sector can build to offer safe, efficient instant payment services to users across the country,” she said.Topics :last_img read more

This Yellow USC Concept Helmet Is A Pretty Interesting Design

first_imgA general view of the Los Angeles Memorial Coliseum.LOS ANGELES – NOVEMBER 11: General view of action as the Oregon Ducks take on the USC Trojans on November 11, 2006 at the Los Angeles Memorial Coliseum in Los Angeles, California. The Trojans defeated the Ducks 35-10. (Photo by Christian Petersen/Getty Images)When USC hits the field for the Holiday Bowl against Wisconsin on December 30, we expect the Trojans to wear their classic helmets. Going chrome with the current design is about the extend of what we see with alternate looks from the Trojans, but that doesn’t stop some of the internet’s top graphic designers from playing with some cool ideas for the program. Fresh Football Helmets and Deeyung Entertainment came up with a cool USC concept, that uses a yellow base with red details and logos.What do you think, Trojan fans?last_img read more

Tips to enjoy the Canada Day Parade in Fort St John

first_imgThe parade procession starts from the North Peace Arena parking lot and will travel North up 100 Street, turn right onto 108 Ave, turn right onto 98 street, left onto 100 Ave, and right onto 96 street to head back to the North Peace arena. The North Peace Arena parking and the back parking lot of the Pomeroy Sport Centre will be closed as a holding (marshalling) area for the floats to prep and unload after the parade. These lots will open to the public once the parade is over (approximately 1:00 pm).Those wishing to attend the parade should consider the following tips for success:Be EARLY (parking lots are limited and fill up fast)Park your vehicle and walk (it will be difficult to get a vehicle too close to 100 Street/Centennial Park)Save your spot on the sidewalk for the parade (do not sit on the road and bring your lawn chair!)Be aware that road closures will be in effect as early as 9:00 am on the day ofBe patient & polite (people running the barricades are volunteers)Obey ALL signs and orders from traffic control and barricade volunteersBe sun smart and stay hydrated!Supervise your children closely and keep them from going onto the road during the paradeStay informed! Follow the “City of Fort St. John Recreation” Facebook page for regular updatesHAVE FUN and celebrate our AMAZING country!It is important to note that the parade route does a loop. There will be a high congestion zone on 97Ave, 98Ave, and 99 Ave between 96Street and 100 Street from 11:00am-12:00 pm as surrounding roads will be blocked by the parade. It is recommended that anyone who chooses to park their vehicle in this area (near No Frills, Salvation Army, and the surrounding residential areas) do not attempt to drive until after 12:00 pm to avoid this congestion.Here is a copy of the Canada Day Parade Route FORT ST. JOHN, B.C. – With Canada Day set for Monday, the City of Fort St. John has shared tips to enjoy the Canada Day Parade.The Canada Day Parade will take place on July 1 at 11:00 am. This parade is volunteer-based featuring a variety of entries from non-profit organizations, businesses, and more. For safety purposes, the City has will be enforcing road closures, detours, and partial road closures. The main road closure will take place on 100 Street from 93 Ave to the south side of 100 Ave. This will be enforced by 9:00 am on the day of and will not open until after 12:00 pm.There will be roving entertainers on 100 Street between 93 and 95 Ave around 10:15 am to perform for those waiting for the parade to begin.last_img read more

Trudeau says Ottawa open to proposals for BC refinery as gas prices

first_imgHorgan says that while the province wants a transition away from fossil fuel dependence, that transition should be aided by more refined product to give B.C. drivers relief.Protesters planned to rally ahead of a Liberal fundraiser tonight to call for a stronger federal climate action and criticize Trudeau for his government’s approval and purchase of the Trans Mountain pipeline expansion.But Trudeau told reporters that selling Canadian oil to American markets at a discount won’t help the environment, but redirecting some of the profits from the expansion will.“Having 99 per cent of our oil go to the United States doesn’t do anything for our environment,” Trudeau said.“Putting the profits from the TMX into the green transition will do a lot for the environment.”The prime minister and premier announced a joint investment in transit among federal, provincial and municipal governments that will also allow for 10 long-range electric buses that would provide greener transportation options in Greater Victoria. Trudeau told a crowd inside a BC Transit bus body shop that the buses will be more energy efficient and have improved accessibility and safety features as part of a public system that needs to keep pace with growing communities.Horgan said a strong transit system is essential to making communities more affordable and to greening the province’s transportation infrastructure.The federal and provincial governments have each contributed $31 million for the new buses while municipalities are pitching in $16 million.Trudeau was in Montreal earlier today, meeting with European Council President Donald Tusk and EU Trade Commissioner Cecilia Malmstrom, and he’s hosting a fundraising event tonight in Victoria. VICTORIA — Prime Minister Justin Trudeau says Ottawa is open to proposals from the private sector for a refinery in British Columbia, as a public inquiry into the province’s soaring gas prices reviews possible solutions.The prime minister says he knows B.C. residents are struggling and the federal government is always open to hearing businesses cases and working with people to find solutions so they can pay their bills.He made the comments in Victoria today following a joint announcement with Premier John Horgan of $79 million to support 118 new transit buses across the province.center_img The Canadian Presslast_img read more

NCAER NIPFP to get funds from US eBay founders Omidyar Network

first_imgNew Delhi: Omidyar Network India Tuesday said it will provide Rs 16 crore (USD 2.3 million) grant to Brookings India, NCAER and NIPFP to conduct research on issues related to property rights in the country. The grant would be utilised to create a multi-organisation research consortium that will focus on issues linked to secure rights to assets, Omidyar Network said in a statement. The Rs 16-crore fund includes an innovation fund of Rs 3.5 crore (USD 500,000) to back proposals from across the country. Also Read – Thermal coal import may surpass 200 MT this fiscalBrookings India, National Council of Applied Economic Research (NCAER) and National Institute of Public Finance Policy (NIPFP) would develop “evidence-based solutions to address chronic challenges in providing secure access to land, housing and property rights”. Omidyar Network India is part of a global network funded by the philanthropic capital of Pierre Omidyar, the founder of eBay, and his wife Pam Omidyar. “The aim is to have these institutions, and hopefully other collaborators in the future, develop in-house expertise on important issues that are relevant for policy makers, build evidence around these issues and propose solutions that can truly improve the lives of people on the ground. said Shreya Deb, Director, Investments, at Omidyar Network India. Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boostNIPFP’s Professor Ila Patnaik said the consortium brings together many research institutions and experts and the knowledge it will generate will break new ground, and have a far-reaching impact. “I expect that the work we do as a whole will add up to more than the sum of the parts. And as the consortium grows, we will be growing India’s research capacity to deal with challenging land issues. Our own NCAER Land Policy Initiative will break new ground on gauging how the Indian states are doing on modernising their land records. said Shekhar Shah, Director-General, NCAER. Shamika Ravi, Director (Research) at Brookings India said well-defined and secure property rights are fundamental to the economic progress of a society. All participating institutions in the consortium will share their knowledge, as well as their networks and data sets, to enable more collaborative learning and research. Omidyar Network India makes equity investments in early stage enterprises and provide grants to non-profits in the areas of digital identity, education, emerging tech, financial inclusion, governance and citizen engagement, and property rights.last_img read more

Ivorian ambassador to UN welcomes Moroccos strong commitment to reconstruction of

first_imgNew York – The Ivorian ambassador to the United Nations, Youssoufou Bamba, welcomed on Wednesday the “strong commitment” of Morocco to the reconstruction of Côte d’Ivoire, while expressing the “gratitude” of the Ivorian people and government to King Mohammed VI for his visit to the African country.“Morocco is firmly committed to supporting Côte d’Ivoire in its reconstruction effort so that it finds its place in the sub-region of West Africa, one that Côte d’Ivoire has always occupied before the crisis in the country,” said Bamba in a statement to MAP at the UN headquarters in New York.The Ivorian ambassador expressed “the gratitude of the Ivorian people to Morocco, and particularly to His Majesty the King who wanted to come in person to Côte d’Ivoire at the head of a large delegation including government officials and businessmen. “It is a visit that brought us joy on so many levels, and Côte d’Ivoire is honored to receive His Majesty the King who wanted to come to provide support to Côte d’Ivoire in this period of crisis when the country is starting its reconstruction process,” he said, adding that the strength of relations between the two countries stems from the exceptional friendship between the late King Hassan II and the late President Felix Houphouet-Boigny, a relationship based on brotherhood, solidarity and mutual respect, and which extends today to relations between King Mohammed VI and President Alassane Ouattara.last_img read more

Ohio State defensive line adopting a pack mentality to replace departed starters

OSU then-redshirt freshman defensive end Sam Hubbard (6) celebrates after a fumble recovery during a game against Penn State on Oct. 17 at Ohio Stadium. Credit: Samantha Hollingshead | Photo EditorThe change in seasons is not the only change this spring at the Woody Hayes Athletic Center. With 22 players having departed the program, the remaining players and staff for the Ohio State football team are left trying to fill those voids. A lot of that change can be seen in the defensive line. A gaping hole at the right side of that line is leaving many wondering how OSU will fare without Joey Bosa. Bosa, a two-time winner of the Big Ten’s Smith-Brown Defensive Lineman of the Year award and a projected first-round pick in the upcoming NFL draft, leaves big shoes to fill. OSU defensive line coach Larry Johnson said he believes that the new contributors don’t need to be carbon copies of the player they’re stepping in for but can find ways to make themselves successful in different ways. “My philosophy is that you don’t try to replace them, you just try and find a guy to raise their game to the next level,” Johnson said. “I think the talent is there, and they want to be very good. What I do as a coach is to try and get them to raise their game.” Redshirt sophomore defensive end Sam Hubbard is one such player expected to raise his game to the next level. The 6-foot-5 Cincinnati native is well aware that the ghost of No. 97’s shadow will be looming over the defensive line all season long, but he’s trying to avoid that pressure. “I don’t want to be Joey Bosa,” Hubbard said. “He’s a great player, but I just want to be the best Sam Hubbard.”Fortunately for Hubbard, he was able to accumulate enough experience last season to set him up for his newfound spotlight. Hubbard, who recorded 6.5 sacks as a redshirt freshman, was in the rotation, often giving Bosa a few downs off or even playing on opposite sides of the line. His biggest test, however, was when he replaced Bosa after the starter was ejected in the first quarter against Notre Dame in the Fiesta Bowl. From that point forward, Hubbard said he knew he needed to be a leader of the unit. “I used to watch the older guys, and now the younger guys are watching me,” Hubbard said. “There are great players that came before us, and if we have any drop off, then our possibility of losing the game is higher. We have to continue at the level of play that is expected at Ohio State.”One of the younger guys who could be a factor next year has a familiar surname: Nick Bosa. Before he even takes a snap donning scarlet and gray, one of the most highly touted recruits in the nation already has exceedingly high expectations. Although Nick Bosa is still on the road to recovery after sustaining a torn ACL as a high school senior, Johnson said he believes that once the younger Bosa gets back to work after his injury, the sky’s the limit.“He is so far ahead in his rehab right now, and we are talking and communicating. I am getting great video of what he is doing,” Johnson said. Johnson and his staff have yet to make a decision on where on the defensive line Nick Bosa will play. His older brother played on the outside, but the incoming freshman could find himself on the interior.“He can do both,” Johnson said. “We are going to see what’s the best fit for him and put the best 11 guys on the field. If he is a part of the best 11, we are going for it.”Alongside Hubbard is Tyquan Lewis, a redshirt junior defensive end from North Carolina. After playing through a shoulder injury last year, Lewis is spending his spring rehabilitating to get back and lead the younger guys. For Lewis, though, it’s not about one guy but the whole unit defensively. “We all have to play within ourselves but understand that we are playing together as one,” Lewis said. “The expectations for all of us are high because this is big-time football at a big-time university, so we want to make sure everyone gets a piece of the pie.”The culture that Johnson is helping bring to the defensive line is to limit the expectations of the individual but heighten expectations of the unit. This kind of collectivist thinking is influencing the players to think of themselves as one of 11. Hubbard, a primary leader of the defensive line, said he sets the example for not only the younger guys but for the entire defense.“I just want to never lose a rep, be a disruption, make plays, do my job, and be my one-eleventh part of the defense that everyone can rely on,” Hubbard said.OSU is set to make its return to the field on Saturday in the annual intrasquad spring game. Kickoff is set for 1:30 p.m. at Ohio Stadium following the men’s lacrosse game against Michigan. read more

Mens soccer rebounds with pair of wins

After two rough games last week, the Ohio State men’s soccer team rebounded well, getting a tough win against Oakland last Wednesday and a 2-0 win Friday night against Cleveland State. “We stumbled a little last week, but to respond from the two bad games and to get back on the right track was very good,” coach John Bluem said. “I am proud of the guys. It was a good team effort in both of our wins this week, so I am very happy right now for the team.”Under cloudy and rainy conditions at Jesse Owens Memorial Stadium, the Buckeyes struck early, two minutes into the game.After a great pass from Buckeye forward Chris Hegngi, who crossed the ball to Austin McAnena, McAnena got the ball and drilled it into the upper-right corner of the goal to give OSU a 1-0 advantage.“That was all Chris,” midfielder Austin McAnena said. “I was just on the back end of that. It was a great pass right on the money. I give the credit to Chris and the rest of the team.”Midfielder Matt Gold was the player who initially started the play with an outlet pass to Hegngi. For the freshman McAnena, it was his third goal of the season. “They’ve done that a couple of times this year,” Bluem said. “Those two freshmen are really good players, and they play more like upperclassmen.”OSU added another quick goal in the 19th minute of play when senior co-captain Doug Verhoff scored his fourth goal of the season.Verhoff launched a free kick from 25 yards out that bent around and went into the goal, which gave OSU its 2-0 score.From start to finish, the Buckeyes dominated, playing much more aggressively and very physically. Cleveland State displayed a sense of frustration, with five yellowcards by the end of the game.For goalie Matt Lampson, it was his fifth shutout of the season. The redshirt freshman had five saves on the day and he improved his record to 5-1-2 on the year.Last Wednesday saw the Buckeyes matched up against Oakland, a rematch of last year’s second-round tournament game. OSU defeated Oakland 1-0 after sophomore Joshua Breto scored the game’s only goal.The Buckeyes will remain at home when they return to action Wednesday against the University of Illinois-Chicago. Game time for the non-conference matchup is 7 p.m. read more

Braxton Miller announces intentions to move from quarterback to receiver

Redshirt senior Braxton Miller (5) carries the ball during a spring practice. Miller announced on Thursday his intentions to switch to H-back for his final season.Credit: Lantern file photoWhile the three-horse race for the starting quarterback position has been much of the talk since Ohio State won the national championship in January, one of those horses dropped out of the running — but into a different spot on the offense.Redshirt senior Braxton Miller is set to make a transition from quarterback, where he started for OSU for three years, to a receiver role for his final collegiate season.This was announced in an interview with Sports Illustrated published late Thursday evening. In it, Miller, who entered the offseason competing with redshirt sophomore J.T. Barrett and redshirt junior Cardale Jones for the starting spot, said he had begun to consider the idea in April.Since then, the article said, Miller began catching balls from Barrett at night in order to keep the possible transition a secret in case OSU coach Urban Meyer decided to tab him the starter.On Thursday, Miller announced that the secret was out as he was no longer in the running for the QB job and instead plans to play H-back, which is a position that acts as a hybrid of wide receiver, tight end and running back. It is a position requiring versatility and athleticism that was utilized last season in junior Dontre Wilson and redshirt sophomore Jalin Marshall.In the SI story, Miller said he has not completely closed the door on playing quarterback this season, but he anticipates practicing with the wide receivers 80 percent of the time and quarterbacks 20 percent when fall practice begins in August.Miller said also he hopes to return punts for the Buckeyes, a role H-backs Wilson and Marshall shared last season.The Huber Heights, Ohio, product started 12 games in each of his first three seasons with the Buckeyes, throwing for more than 5,000 yards and 52 touchdowns. He also ran for 32 more scores.He was named Big Ten Offensive Player of the Year for his sophomore and junior seasons, as well as a Davey O’Brien Award finalist for the nation’s top quarterback in his sophomore campaign.Miller was set to be the starter heading into the 2014 season, but a torn labrum in his right shoulder cost him the season just a few weeks before it began. He was replaced by Barrett, who started 12 games before suffering an ankle injury on Nov. 29 against Michigan. Barrett was then replaced by Jones, who started OSU’s three postseason games and helped lead them to the national championship.Rumors swirled about Miller possibly transferring with the seemingly uphill battle toward winning back the starting job over Barrett and Jones, but he confirmed his intentions to stay in the scarlet and gray earlier in July.Now, Miller is set to begin his final collegiate season and his first in his new role on Sept. 7 when OSU travels to Blacksburg, Va., to open the season against Virginia Tech. read more

Evergreen college students sanctioned following protests

first_imgOLYMPIA — About 80 protesters have been sanctioned for breaking the student conduct code at a small college in Washington last spring when race-related protests broke out on campus.The Evergreen State College spokeswoman Sandra Kaiser told The Olympian that students received sanctions ranging from formal warnings to suspension.The protests in May followed after professor Bret Weinstein criticized an optional event in which organizers asked white students to leave campus for a talk about race. The event was a reversal of the college’s annual “Day of Absence,” in which minorities attend programs off campus.Last month it was announced that Evergreen will pay $500,000 to Weinsten and his wife to settle a claim they brought alleging the school failed to protect employees from threats of physical violence and verbal hostility.last_img read more