Vera Bradley
Location : Fort Wayne IN US Fort Wayne, IN
The FP&A intern will learn key excel and financial modeling skills to assist the FP&A team in streamlining initiatives and new reporting. The FP&A Intern will…
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Fort Wayne
Friday, February 21, 2014
Fort Wayne
Fort Wayne
Spying on US Muslims by NYPD was legal: Judge
New York: A federal judge has ruled that the New York Police Department’s surveillance of Muslims in New Jersey was a lawful effort to prevent terrorism, not a civil rights violation.
In a decision filed today in federal court in Newark, US District Judge William Martini dismissed a lawsuit brought in 2012 by eight Muslims who alleged that the NYPD’s surveillance programs were unconstitutional because they focused on religion, national origin and race.
The suit accused the department of spying on ordinary people at mosques, restaurants and schools in New Jersey since 2002.
The lawsuit followed a series of stories by The Associated Press based on confidential NYPD documents that showed how the department sought to infiltrate dozens of mosques and Muslim student groups in New York and elsewhere.
Martini said he was not convinced that the plaintiffs were targeted solely because of their religion. “The more likely explanation for the surveillance was to locate budding terrorist conspiracies,” he wrote.
The judge added: “The police could not have monitored New Jersey for Muslim terrorist activities without monitoring the Muslim community itself.”
Farhaj Hassan, a plaintiff in the case and a US soldier who served in Iraq, said he was disappointed by the ruling.
“I have dedicated my career to serving my country, and this just feels like a slap in the face, all because of the way I pray,” he said.
PTI
First Published: Saturday, February 22, 2014, 03:12
Spying on US Muslims by NYPD was legal: Judge
GM India introduces Chevrolet Sail sedan, UV-A hatchback limited editions
Pic Courtesy: -
Zee Media Bureau
New Delhi: General Motors India has introduced Chevrolet Sail sedan and UV-A hatchback limited editions in the country.
The limited edition vehicles will have features such as illuminated door sills, special body decals, turn indicators on the outside rear mirrors, chrome garnish on the boor-lid and limited edition badging to differentiate it from the standard variants.
The Chevrolet Sail UV-A limited edition has been priced at Rs 4.47 lakh, while the Sail sedan limited edition comes at Rs 5.23 lakh (ex-showroom, Delhi).
The UV-A hatchback gets roof rails and the Sail sedan gets rear parking sensors.
GM India also retails hatchbacks Spark, Sail, sedan Sail U-VA, premium sedan Cruze, multi-utility vehicles Tavera, Enjoy and premium SUV Captiva.
The company has recently reduced prices of its various models by up to Rs.49,000 following the excise duty cut across car categories announced in the interim budget. It has reduced prices across categories in the range starting from Rs.12,000 to Rs.49,000.
First Published: Saturday, February 22, 2014, 03:10
GM India introduces Chevrolet Sail sedan, UV-A hatchback limited editions
Andhra govt for Presidents Rule rule Tnotification out next week
Andhra Pradesh governor ESL Narasimhan has recommended that President’s Rule be imposed in the state and the assembly be kept in suspended animation. The gazette notification for the creation of Telangana is likely to be issued next week after the President gives his assent to the Andhra Pradesh Reorganisation Bill passed by Parliament.
Accepting the resignation of CM Kiran Kumar Reddy on Friday, the governor asked Reddy to continue in office till alternate arrangements were made. Reddy, however, turned him down, having made it clear that he wouldn’t like to be the caretaker CM.
Union rural development minister Jairam Ramesh said the two states (Telangana and Andhra Pradesh) will formally come into being from the appointed day mentioned in the gazette notification, with the appointment of two CMs, two chief secretaries and two directors general of police.
With 84,000 employees to be distributed between the two states, preparatory work for the distribution of cadre, finance, assets and liabilities will have to be completed by the appointed date mentioned in the gazette.
Two panels have been constituted for the allotment of Indian Administrate Service officers and AP service officers. A committee of experts would be formed separately to identify a capital for the successor state of AP, Ramesh said. It took three months for Jharkhand, Chhattisgarh and Uttarakhand to come into existence from the date of notification.
Andhra govt for Presidents Rule rule Tnotification out next week
'Highway' is Alia's 'Arth': Mahesh Bhatt
Mumbai, Feb 20 (IANS) Not one to be blinded by parental affection, he is yet to give an acting break to his son Rahul, but filmmaker Mahesh Bhatt is clean-bowled by his youngest daughter Alia Bhatt’s performance in Imtiaz Ali’s “Highway”.
He said: “I saw Alia in ‘Highway’. Alia overwhelms you with her heartbreaking sincerity. Her journey has begun. This is Alia’s ‘Arth’. Highway is a film that will sparkle in Alia’s filmography.”
Alia’s mother and actress-filmmaker Soni Razdan is set to direct the youngster in a film based on the notorious Nanavati murder case that shook Mumbai’s beau monde way back in 1959. Pooja Bhatt will produce it.
The original plan was to cast Alia with Randeep Hooda, but they were already doing “Highway” together, therefore, a hunt is on for another leading man to be paired with the actress.
Interestingly, while conversing with Karan Johar on the latter’s talk show Bhatt had described Imtiaz’s “Rockstar” as the most overrated film.
But he seems to have liked the director’s “Highway” a lot more.
He said: “It is an outstanding film. Imtiaz Ali staggers you with his simplicity. It is bare, harsh and truthful.”
Bollywood Entertainment News | India
'Highway' is Alia's 'Arth': Mahesh Bhatt
Ukraine deal a chance to stop `nightmare`: Britain
London: British Prime Minister David Cameron said the deal agreed on Friday between Ukraine’s embattled president and the opposition was a real chance to stop the “downward spiral into the nightmare” otherwise facing the country.
Cameron said the violence witnessed in Kiev this week, in which nearly 100 protesters have died, had “no place in 21st century Europe”.
Ukrainian President Viktor Yanukovych has agreed to form a new unity government and hold early elections.
“I welcome today’s agreement which offers a real chance to end the bloodshed and to stop the downward spiral into the nightmare that is facing Ukraine and her people,” Cameron said in a statement.
“It should foster a lasting political solution to the crisis and president Yanukovych, his administration and the opposition must all get behind this deal and deliver it according to the timetable set out.” Cameron said he hoped the deal “will restore calm to the streets of Kiev and across the country”.
“Such scenes of carnage are truly shocking and have no place in 21st century Europe.” Cameron has spoken to Russian President Vladimir Putin, German Chancellor Angela Merkel and Polish Prime Minister Donald Tusk in the last 24 hours.
“We all support this deal and want to see it work,” Cameron said.
“And working with other European partners and the United States, we will do all we can to ensure it succeeds.”
AFP
First Published: Saturday, February 22, 2014, 00:57
Ukraine deal a chance to stop `nightmare`: Britain
Allocation for PSU banks smaller than estimated: Moody's
Pic Courtesy: -
Mumbai: The government’s decision to infuse a mere Rs 11,200 crore in public sector banks in FY’15 is credit negative as the amount will not help banks meet a minimum Tier I ratio of 8 percent under Basel-III norms, international rating agency Moody’s said Friday.
“The allocation (of Rs 11,200 crore) is credit negative for public-sector banks because it is much smaller than Rs 25,000-36,000 crore (USD 4.1-5.8 billion) that we estimated the banks needed to meet a minimum Tier 1 ratio of 8 percent in the fiscal year ending March 2015,” it said in a report.
In his interim Budget presented on Monday, Finance Minister P Chidambaram proposed to infuse Rs 11,200 crore in PSU banks to enhance their capital in the next fiscal.
Moody’s said the Budget allocation is also smaller than the amount the Government has injected into public sector banks in the past three fiscal years.
The Centre infused Rs 14,000 crore in the state-run lenders in this fiscal. In FY12, it had pumped in Rs 17,000 crore, while in FY13 the amount stood at Rs 12,500 crore.
“Public sector banks’ need for significant external capital is a result of an increase in non-performing loans (NPLs) owing to slowing economy and infrastructure bottlenecks , and profitability that is insufficient for internal capital generation to fund loan growth,” the report said.
As of December 2013, rated Government banks reported an average gross NPL ratio of 4.3 percent, up from 3.4 percent in March 2013, and Moody’s expects them to continue rising in FY15.
The report highlighted that the 90 basis points increase in the March-December 2013 period in NPL exceeds the average increase of 50 basis points for the fiscal year ended March 2013 and 78 basis points for FY12.
As a result of rising NPLs and lower profitability, provision expense rose to 65 percent of rated PSU banks’ pre- -provision income for the first three quarters of the fiscal year from 49 percent a year earlier, it said.
“Another reason public sector banks require external capital is that we expect loan growth rates to remain similar to the 16 per cent Y-o-Y average recorded as of December 2013,” the report said.
Moreover, the introduction of Basel III norm raises the amount of capital that banks will need to meet minimum targets, it said.
Banks on average reported Tier I ratios under Basel III that are 34 basis points lower than under Basel II in fiscal 2014, the report said.
Moody’s said although State Bank of India successfully raised equity (Rs 8,032 crore) from markets last month, it finalised the transaction at a lower price and volume than it originally targeted.
The country’s largest lender sold 5.13 crore shares at an average price Rs 1,565 apiece, which was the lower side of the price band it had set.
“Most other public sector banks trade at valuations below SBI, indicating that markets are not yet receptive to further equity offerings from these banks,” the report said.
There are also caps on the equity exposure of Life Insurance Corporation of India that provided Rs 7,560 crore of equity to rated PSU banks in FY12.
PTI
First Published: Friday, February 21, 2014, 21:20
Allocation for PSU banks smaller than estimated: Moody's
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