In the echoey theatre of modern political gesture, welfare has recently had one of its periodic stagings. A minister has honed his ideological credentials; columnists have extracted culture war content; tabloid journalists have parroted shamelessly grossed-up figures and patrolled Bondi beach for dole bludgers. Yet for once it was worth cocking an ear. For if the world of employment is facing upheaval, then so is its counterpart of unemployment. And if the future of work is, as many argue, increasingly flexible, casual, various and scarce, it’s arguable that those short of it will steadily face exacerbated economic risk. What might a welfare system of the future look like? What is the potential of ideas such as a universal basic income or a negative income tax, long discussed by economists, mostly beyond the ken of politicians? Despite its regular depiction as a peeler of lotuses for layabouts, Australians have reasons to be proud of their social safety net. Australia’s … [Read more...] about Basic income for all: a 500-year-old idea whose time has come?
Credit suisse understanding credit agreement basics
By Hemant Manuj The rating actions by Indian credit rating agencies (CRAs) have recently come in for much flak on account of their failure, in a few significant cases, to downgrade issues before they defaulted. The key product of a CRA is a statement of prediction about an obligor’s ability to meet its obligation. This may be compared to businesses like equity research, medical drugs, beauty enhancement or even astrology. The product or service in each of these businesses offers just a hope to the customer with different levels of likelihood. The regulatory structure in all such cases focuses on customer protection from false promises. Regulations aim to provide appropriate disclosure on the process, and past performance of the sellers of the product or service. The customer can then independently decide on the choice of availing the product or service. Credit ratings are driven mainly by directives from the Basel-3-based regulations, rather than customer need. That is a … [Read more...] about View: Why it is high time to review credit rating agencies regulation
President Donald Trump is making the most out of his visit Wednesday to a Texas plant that makes Apple computers. In addition to taking credit for the plant, which has been open since 2013 and is run by separate supplier, he tweeted Thursday that he asked Apple CEO Tim Cook about getting Apple involved in "building 5G in the U.S.," noting that the company has the "Money, Technology, Vision and Cook!!"But if you know anything about 5G – admittedly, a complicated topic – you'll know that tweet doesn't really make a lot of sense.Trump, who was touring the facility as Apple announced the opening of a new 3-million-square-foot facility in Austin, Texas, has talked about 5G in the past, particularly as it pertains to the US's technology leadership over China. It's why Trump blocked the takeover of mobile chip giant Qualcomm by Singapore-based Broadcom. The tweet, however, suggests that the president doesn't understand what 5G is or even necessarily what Apple … [Read more...] about President Trump doesn’t seem to understand Apple or 5G
A despairing grandmother has battled suicidal thoughts and severe debt as a result of crippling Universal Credit . Vivien Soloman, 60, has reached her wits' end by the cruel social security payment, which she says has left her unable to pay a debilitating debt. The carer was told she cannot receive anything as her partner's pension counts towards the maximum household income they're entitled to under Universal Credit. "I've been told I don't get any universal credit. Everything is zero. My partner is on a state pension and gets £158.99 every Monday and an attendance allowance of £340. "We're over the limit. And once you go to universal credit, you can't go back," she told Wales Online . "Before we used to get housing. It was £98.45 a week and I would pay £85 a month. The rest was benefit. "I've applied for a discretionary housing benefit but they said it could take up to a month. "I have rent arrears of £992.72 and have a notice seeking possession. They want … [Read more...] about Universal credit left stressed gran with ‘debt, tears and suicidal thoughts’
The big picture: The dispute resolution and agreement to work together over the next decade benefits all parties involved… well, with the exception of patent lawyers that are now without work. American semiconductor foundry GlobalFoundries and Taiwan Semiconductor Manufacturing Company (TSMC) have agreed to dismiss all patent disputes between them as well as those involving their respective customers. Best yet, the two companies reached a broad patent cross-license accord in which they can use each other’s existing semiconductor patents as well as those that will be filed over the next 10 years. As others have previously discovered, eliminating an adversarial relationship and partnering in the patent space can lead to all sorts of breakthroughs. Odds are, a company will make more money through innovation than it would in the court room trying to argue a patent dispute. GlobalFoundries and TSMC have been at each other’s throats as of late. In August, the former sued … [Read more...] about GlobalFoundries and TSMC settle all patent disputes, reach cross-licensing agreement