Tag: 上海龙凤

US Fed at last launches Main Street Lending Program

first_imgThe United States Federal Reserve at long last launched its Main Street Lending Program on Monday after making a series of changes to broaden its reach.The central bank also announced it will roll out the first segment of another emergency lifeline starting Tuesday, under which the Fed will buy up to US$750 billion in corporate bonds.The Fed several times in recent weeks was on the verge of rolling out the Main Street program, but held off as it expanded the criteria to reach more companies struggling to deal with the damage done by coronavirus shutdowns. “Lenders … are encouraged to begin making Main Street program loans immediately,” the Fed’s Boston regional bank, which administers the program, said in the announcement.The program aims to support businesses that are too big to benefit from the Paycheck Protection Program run by the Treasury Department, and help them to retain their employees.The US Chamber of Commerce called it “a lifeline for businesses that have been disrupted by the health and economic consequences of COVID-19.”After hearing from thousands of firms and banks, the Fed slashed the minimum loan amount to $250,000 from $1 million originally. The changes also extend the life of the loans to five years, and offer a two-year grace period on principal repayment, while interest payments are deferred for one year.The Fed also opened the aperture of the facility at the top end, expanding the maximum loan size to as much as $300 million The Main Street program is available to businesses with up to 15,000 employees, or as much as $5 billion in annual revenue, that were solvent before the crisis.Unlike the Treasury Department’s PPP loans, which turn into grants as long as most of the funds are used to pay workers, the Main Street loans are not forgivable.US Treasury Secretary Steven Mnuchin said the program “is designed to help ensure that small and medium-sized businesses have access to the credit they need to get through this challenging period.”The firms benefiting from the $600 billion in available funding are subject to the restrictions Congress required under the $2.2 trillion CARES Act: they cannot pay dividends to investors or buy their own shares until one year after the conclusion of the loan, and there are restrictions on executive pay.Once the lenders extend credit to businesses, the Fed will purchase 95 percent of the loans to ensure banks continue to have cash available to put into the economy.Buying up debtSince the pandemic hit in mid-March, the Fed has rushed out a series of emergency programs to pump liquidity into the US economy amid the severe downturn caused by the effort to contain the spread of COVID-19, including buying unlimited amounts of US Treasury debt, in an alphabet soup of new measures.Among the latest, the New York Federal Reserve Bank announced it will begin buying qualified corporate debt starting Tuesday in a program that runs through September 30.The Secondary Market Corporate Credit Facility (SMCCF) will buy bonds issued by US companies that have not benefitted from other government aid, including the CARES act.The goal is to “support market liquidity for corporate debt,” the New York Fed said.The second half of the program, the Primary Market Corporate Credit Facility (PMCCF), will help companies more directly and is due to launch “in the near future.””The PMCCF will provide a funding backstop for corporate debt to Eligible Issuers so that they are better able to maintain business operations and capacity during the period of dislocation related to COVID-19,” the New York Fed said.Topics :last_img read more

‘Invest in South African infrastructure and ICT’ – Ramaphosa at WEF Africa

first_img13 May 2016Positive returns on investment are almost guaranteed in the infrastructure and ICT sectors in South Africa, and elsewhere on the continent, Deputy President Cyril Ramaphosa told potential investors at the World Economic Forum on Africa in Kigali, Rwanda.Ramaphosa was speaking at a session on how innovative partnerships can bridge financing gaps for economic and social infrastructure. He is leading Team South Africa – made up of government, business and civil society leaders – at WEF Africa, which this year is being held under the theme “Connecting Africa’s resources through digital transformation”.Ramaphosa and his delegation reassured investors at the forum that South Africa is a preferred investment destination, and open for business.“Infrastructure has been a key economic driver in South Africa and in the region,” Ramaphosa said during the session on Thursday 12 May. In South Africa, he added, the coordination of infrastructure development through the Presidential Infrastructure Coordinating Commission had “paid great dividends”.“Investment in infrastructure has stimulated economic activity. Therefore, there are returns to be made for investors in infrastructure in South Africa and Africa.“Infrastructure is better done when approached at a regional level, because our countries are inter-linked through the movement of people and trade.”Watch Deputy President Cyril Ramaphosa discussing infrastructure at WEF Africa:Ramaphosa added that South Africa had found innovative ways of partnering with the private sector, especially in energy. This had opened new opportunities for private sector investment.He also encouraged investment in connectivity through technology and digital solutions, saying that this should be a priority for African economies.Watch the full Investing in Infrastructure session at WEF Africa:On the final day of WEF Africa, Friday 13 May, Ramaphosa is to take part in a high-level breakfast on the Internet for All Initiative, a project to develop new scalable and replicable models of public-private collaboration in order to accelerate internet access globally.In this session, leaders from governments and multilateral organisations and business will discuss the progress of the first country pilot programme in the Northern Corridor, and set out the next steps.Team South Africa includes Ministers Pravin Gordhan, Rob Davies, Siyabonga Cwele, Ebrahim Patel and Jeff Radebe. The business delegation includes Eskom, the Industrial Development Corporation, Old Mutual, ArcelorMittal and Business Unity South Africa.last_img read more

Minisplit Heat Pumps and Blizzards

first_imgHere’s the same condenser after the defrost cycle: RELATED ARTICLES A blizzard (a severe snowstorm and sustained winds of over 35 mph) is a challenging weather condition for a minisplit heat pump. Recall how an air-source heat pump works: the outdoor unit has a compressor and a fan that blows air across a coil with refrigerant. In heating mode, the coil is colder than the outdoor air. As air is drawn through the coil, it gives up heat to the coil and leaves the other side colder. The more humid the air (and remember: the warmer the air is, the more moisture it can hold), the more condensation occurring on the coil. At temperatures at or below freezing, that condensation may freeze on the coil, reducing air flow through the coil and heat transfer to the refrigerant. GBA Encyclopedia: Ductless Minisplit Heat PumpsJust Two Minisplits Heat and Cool the Whole House Will Minisplits Replace Forced-Air Heating and Cooling Systems?Two Years With a Minisplit Heat PumpReport on Our Ductless Minisplit Heat PumpLooking for the Best Minisplit OptionMinisplit Heat Pumps and Zero-Net-Energy HomesHeating a Tight, Well-Insulated HouseNew Englanders Love Heat PumpsLoving My MinisplitsAre Seven Heads Better Than Three? Defrost cycles prevent freeze-upsHeat pumps are designed to sense this type of condition, and periodically operate a defrost cycle, in which the heat pump reverses and uses some energy to melt the frost off the coils. Below is a photo of a Fujitsu condenser with frost building up: Here’s a Daikin condenser that I think has a faulty defrost cycle. (The photo below was taken at a house at which South Mountain has installed a solar electric system.) The frost has built up considerably: BLOGS BY MARC ROSENBAUM Drainwater Heat Recovery Comes of AgeMinisplit Heat Pumps and Zero-Net-Energy HomesPractical Design Advice for Zero-Net-Energy HomesDuctless Minisplit Performance During Cold WeatherInstalling a Ductless Minisplit System Marc Rosenbaum is director of engineering at South Mountain Company on the island of Martha’s Vineyard in Massachusetts. He writes a blog called Thriving on Low Carbon. Marc teaches a 10-week online Zero Net Energy Home Design course as part of NESEA’s Building Energy Master Series. You can test drive his class for free. Through about 2:00 p.m., the outdoor temperatures were in the mid-to-upper 20Fs, and the defrost cycles, marked by the dips in power draw, occurred roughly every 4 hours, lasted 4-5 minutes, and drew under 250 watts. Once the storm starts up, outdoor temperatures are right around freezing, and the fine snow is being whipsawed around by the strong winds, which can drive the snow into the coil, coating it and triggering the defrost cycle.The blizzard becomes a moisture delivery system. The defrost cycles are much more frequent, slightly over once per hour. And the duration rises to 15 minutes or so, with a power draw of 500 watts. Note also that after the defrost cycle the heat pump power draw jumps up to 900 watts or so, whereas before the storm it was running at 450 watts for much of the time.It appears that the firmware drives the heat pump up to the higher power draw for a certain amount of time after every defrost cycle, and when the cycles are frequent, it never drops down to the “cruising” power draw. So both efficiency and capacity are reduced, because the energy going into defrost isn’t going into the house. You can tell when the defrost cycle occurs because the indoor fan shuts off — otherwise it would be blowing cold air.The condenser needs clearance beneath it, because the melt from the defrost cycle is going to freeze once it drips down off the condenser, and in the worst case it freezes under the condenser and crushes the lowest row of the coil and the unit is ruined. So it makes sense to raise the condenser above the snow line and keep it under an overhang or roof.This all becomes more severe if the condenser is actually buried in snow. In the worst case, the heat pump shuts down, and we saw this at a couple of houses here. My own unit is up off the ground, and under a small roof, but the January 26-27 storm came from the northeast and still packed the gap between the house and condenser 40-50% full of snow. We’re considering doing more wall-mounted installations, getting them at least 2 feet off the ground — but architects don’t want to see the condenser(s), so the inclination is to install them low to the ground and behind screening. But this usually makes them more vulnerable.Here’s a neat wall-mounted installation: We’ve been pleased that these seem not to impart vibration to the house, the units must be very well-balanced.Does this mean that houses heated by minisplit heat pumps, with no back-up heating system, are more vulnerable in bad storms than houses heated by modern fossil fuel burning equipment? Not necessarily — those fuel-burning units have their own issues in storms. Sealed-combustion sidewall vents can be plugged by ice or wind-driven snow, and wind gusts can cause the pressure-sensing switch to shut the units down.So modern heating systems in general are more twitchy in severe weather than the old atmospherically vented boiler venting into a interior masonry chimney, with a barometric damper. Do we want to go back to that? For a number of reasons, I’d say no. Houses that need that big boiler or furnace are much more likely to freeze up when that unit goes down (say, in a power outage) than a small superinsulated house with a minisplit.My sense is, get ’em up off the ground, and check them in a bad storm. So, the above photo excepted, we’ve been talking about normal conditions, not a blizzard. Image #2 (at the bottom of this article) is a graph showing the power input to the Fujitsu at our house on January 26, 2015, as outdoor temperatures rose and the blizzard began.last_img read more

London Olympics: Aries Merritt wins gold in 110m hurdles

first_imgAries Merritt ran a personal best of 12.92 to win the gold medal as the US took 1-2 in the final of the 110m hurdles on Wednesday. Merritt got a flying start and held off the challenge of world champion Jason Richardson and Jamaica’s Hansle Parchment to secure what in the end was a comfortable win.It is the first gold medal that the US have taken in the event since Allen Johnson took gold in Atlanta in 1996, Xinhua reported.”I am so excited, words can’t explain how excited I am,” said Merritt after winning the gold.It was a race that lived up to the expectations that had been raised earlier in the evening, although Merritt admitted that it was impossible to set a new world record.”Everyone said it could be a world record beforehand, but you can’t do that if you don’t have the conditions. I had to run into a headwind,” he explained.The race ended in disappointment for Cuba’s Olympic champion, Dayron Robles, who pulled up halfway through the race with a hamstring injury.The loss of Robles, coupled with the injury suffered by China’s Liu Xiang, who damaged his Achilles tendon in the heats did nothing to take the shine off Merritt’s win.”I trained for this, it is very intensive,” he said, adding that he had done all he could in order to take the tension out of his performance.”When I practice, I do some ridiculous things, so I thought I’d try and do that here. I work so well in practice when there is no pressure, so I tried to repeat that,” he explainedadvertisementMerritt highlighted the importance of his win in an event where the US had traditionally dominated, but failed to win in the last three Olympics.”Gold means everything, we have not had gold since Allen Johnson, so to be able to take it back home is important,” he said.last_img read more

10 months agoAston Villa manager Smith unsure about Abraham & Chelsea

first_imgAston Villa manager Smith unsure about Abraham & Chelseaby Freddie Taylor10 months agoSend to a friendShare the loveAston Villa manager Dean Smith admits he’s not sure if the club will retain Tammy Abraham.The Chelsea loanee has fired in 12 goals for Villa this season and reports have suggested he could return to Stamford Bridge to be loaned out to a Premier League club.Asked about the speculation, Smith said: “I’ve no idea about the contract situation if I am honest. All we can do is work with him, we have a good relationship with Chelsea.”Eddie Newton [Chelsea’s loan technical coach] was up here over a month ago, looking and checking at his development.”He’s been developing with us all the time. He is enjoying his football and I think that is a big thing in the development of the young lad’s future.”He wants to go and keep scoring goals for us and that’s what we are in control of at the moment.” TagsTransfersAbout the authorFreddie TaylorShare the loveHave your saylast_img read more

14 days agoAtletico Madrid boss Simeone rates Thomas ahead of Rodri

first_imgTagsTransfersAbout the authorCarlos VolcanoShare the loveHave your say Atletico Madrid boss Simeone rates Thomas ahead of Rodriby Carlos Volcano14 days agoSend to a friendShare the loveAtletico Madrid boss Diego Simeone rates Thomas Partey as a better prospect than Rodri.Atletico lost Rodri to Manchester City over the summer, which saw Simeone promote Thomas into his role.And the coach says: “Last year I put in Thomas for Rodrigo, but I was criticised. “Thomas is more vertical, Rodrigo more horizontal. Thomas gives the team more direction, I put him in and they killed me for not putting in Rodrigo. He is a great player, but Thomas, when he manages to maintain consistency and balance. He has goals, arrival, assists, a shot… “Not everyone has all this.” last_img read more

Ohio State Football: Video: This Is How Ohio State’s Taylor Decker, One Of The Country’s Best OT, Prepares For The Season

first_imgOhio State OL Taylor Decker working out in the offseason.Ohio State OL Taylor DeckerEver wonder how offensive linemen hone their craft and prepare for the upcoming season? Wonder no more. Ohio State has released a short workout video featuring senior offensive tackle Taylor Decker, one of the country’s best players at his position and a potential first-round pick in the 2016 NFL Draft. Check it out: Our leader Taylor Decker putting in work to be the best. The Grind! pic.twitter.com/6hOCYwBg4A— Urban Meyer (@OSUCoachMeyer) June 4, 2015Good luck trying to get to the quarterback when he’s in front of you, defensive linemen.last_img read more

HGTV CANADAS REAL ESTATE EXPERT RISKS IT ALL FOR BIG REWARDS IN

first_img LEAVE A REPLY Cancel replyLog in to leave a comment New episodes of Buyers Bootcamp with Scott McGillivray will be available On Demand and at HGTV.ca each week after broadcast. Later this spring, catch Scott as he returns for Season 3 of HGTV Canada’s Home To Win, premiering Sunday, April 29 at 10 p.m. ET/PT. Buyers Bootcamp with Scott McGillivray is produced by McGillivray Entertainment in association with Corus Entertainment’s HGTV Canada and Scripps Networks Interactive..HGTV Canada is a Corus Entertainment Network.About Corus Entertainment Inc.Corus Entertainment Inc. (TSX: CJR.B) is a leading media and content company that creates and delivers high quality brands and content across platforms for audiences around the world. The company’s portfolio of multimedia offerings encompasses 45 specialty television services, 39 radio stations, 15 conventional television stations, a global content business, digital assets, live events, children’s book publishing, animation software, technology and media services. Corus’ roster of premium brands includes Global Television, W Network, OWN: Oprah Winfrey Network Canada, HGTV Canada, Food Network Canada, HISTORY®, Showcase, National Geographic, Q107, CKNW, Fresh Radio, Disney Channel Canada, YTV and Nickelodeon Canada. Visit Corus at www.corusent.com.SOCIAL MEDIA LINKS:Follow Corus PR on Twitter @CorusPR  Watch full episodes and see exclusive content at hgtv.caFollow HGTV Canada on Twitter @hgtvcanada and Facebook at Facebook.com/hgtv.ca#BuyersBootcamp Advertisement TORONTO, Canada – Investment property specialist, Scott McGillivray, is taking his passion to the next level by teaming up with renovation rookies for the opportunity of a lifetime in the new Canadian original series Buyers Bootcamp with Scott McGillivray (10×60). Premiering Sunday, April 1 at 9 p.m. ET/PT onHGTV Canada, the series follows Scott as he works with first-time house flippers and invests his own money and expertise to renovate rundown homes. Along with his new partners, Scott will work night and day to get each renovation completed on time and on budget. If they succeed, they split the profits, and if they fail, they fail together.After years of successfully transforming properties into income-generators, this time Scott is offering his knowledge to newbies in a high stakes, real-life training ground. In each episode, Scott tours two potential partners’ homes to identify what needs to be done to earn top dollar when it hits the market. Scott takes into account the total budget, the time required, as well as the skills and sweat-equity each homeowner can offer. Once the partner is selected, Scott puts his money where his mouth is and personally invests in the project. He then leads the charge in tackling the renovation, giving his new partners invaluable hands-on lessons to successfully overhaul a home in time for an open house.CIBC continues its five-year partnership with HGTV Canada and Scott McGillivray as the series’ exclusive sponsor. The financial institution will provide viewers with helpful tips on how they can make the most of their own home investments through digital content on the series’ website and weekly videos posted on HGTV Canada’s social media platforms, in addition to organic integrations throughout the show. Advertisement Login/Register With: Facebook Advertisement Twitterlast_img read more

Womens volleyball OSU hosting two pivotal Big Ten home matches

Ohio State’s libero Valeria Leon passes a ball in the regional quarterfinal versus Washington on December 11, 2015. Credit: Ohio State AthleticsOn Oct. 1, the No. 19 Ohio State women’s volleyball team stunned the fans in Lincoln, Nebraska, as they conquered the defending national champions and No. 1 team in the country, the Nebraska Huskers, in four sets. On Friday, the Huskers will travel to Columbus for another matchup – and it’s safe to say the Huskers will be out for revenge. In what will be OSU’s only second home match this season, they will be playing Nebraska for the final go-around of the season. Since the Buckeyes last saw the Huskers on Oct. 1, Nebraska has dropped down to the No. 2 spot in the nation with OSU once again holding the No. 19 position. The Buckeyes won’t have much time before they take on the Iowa Hawkeyes on Saturday, also at St. John Arena. OSU head coach Geoff Carlston said his team will have to prepare for each of the teams mentally, physically, and tactically because each of the opponents are different from the other. Since the Huskers’ last meeting with the Buckeyes, the team has added two more tallies to their win column with sweeps against Indiana and Purdue. They now hold 14-1 record overall. The Huskers also hold a perfect record on the road (4-0). Carlston said if his team wants to have the same success they did during their last meeting with Nebraska, they’ll need to maintain their composure. “For us, it’s replicating, if anything, the poise that we showed,” he said. “The ‘next point, this point’ mentality that we showed – I thought that was something we really did well.” The Buckeyes are the only school in the conference to record a non-losing record (4-4) vs. Nebraska since the Huskers joined the conference in 2011.Following their battle with Nebraska, the Buckeyes will host the Hawkeyes. Iowa is currently ranked above OSU in the Big Ten standings at 4-2. They boast a 14-4 record with wins over Purdue and Indiana. Carlston said he and Iowa head coach Bond Shymansky are good friends, and Carlston knows how well Shymansky can guide his team. “They’re very different than Nebraska. Our challenge will be trying to figure out how we want to break up the next couple days in terms of preparation,” he said. Now 50 days into the 2016 season, OSU has only played on St. John’s court once (Northwestern, Sept. 28). Carlston said exactly how taxing the opening part of his season has been. “This is the longest road trip, most difficult beginning of any season I’ve had as a coach,” he said. With the opportunity to host a weekend of home play, some Buckeye team members expressed their happiness about playing in a familiar place. “We’ve only had one home game so far, so being back home will be comforting and just really awesome to be back in our own locker room and our own beds,” said freshman outside hitter Brooke Bailey. Bailey’s teammate, senior libero Valeria León, echoed her thoughts. “It feels like the Northwestern match was forever ago. We love playing here,” León said. “We love playing in front of our Buckeye fans, so that’s definitely something we’re looking forward to.” León is just 35 digs away from breaking the OSU career dig record. She has already scraped up 271 balls this season and is averaging 4.71/digs per set. It’s possible that she could secure her place in Buckeye history as soon as this weekend. She said to even be within reach of this accomplishment is a huge honor. “When you first come here, you never think you’ll even be talking about this, so it’s really cool, and I feel really blessed,” she said. León also had some veteran advice about what her team needs to do to anchor down two more wins at home this weekend. “We need to just go out there and play volleyball (and) have fun,” León said. “The Big Ten is a battle — we knew it was going to be a battle. The Buckeye battle with their Big Ten opponents will begin at 6 p.m. on Friday against the Huskers, followed by the Hawkeyes at 6 p.m. on Saturday. read more

Recent Comments