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September 2021

Gap year programs

Watch out for the gap: young Vietnamese take time to gain experience in life

Tran Minh Bach decided to enter an international university in Ho Chi Minh City a year later than his friends to “not waste his parents’ money.”

“The tuition is around 320 million VND ($ 14,050) per year, 10 to 20 times higher than that of public universities, so I was hesitant, afraid of dropping out of my studies,” Bach said. , now in first year.

While reflecting, he asked his parents to let him start his university life a year later to have more time to improve his English and other skills, so that he could be confident in continuing his university program. .

“I also wanted to use the time to think about what I really like,” Bach said.

In Hanoi, Hoang Dung is another student who delayed his studies at the University of Foreign Trade in 2018.

“I ‘gave up’ because I wanted to take the time to find out what I’m good at, what I love to do, discover new jobs and new places,” Dung said, adding he was confused afterwards. have studied at university for two years. .

Bach and Dung are among the many Vietnamese to pursue a gap year, popular among some young Westerners. A sabbatical year typically occurs when students move from high school to college or while studying at university.

Bach before knowing the sabbatical years. Photo courtesy of Tran Minh Bach

Recent research shows that 230,000 18-25 year olds take a gap year each year in the UK, and the trend is only growing as 72% of young people prefer to spend money on experiences rather than material things .

In the United States, 20% of freshmen at Harvard have chosen to postpone their admission to 2020 because students took a year off rather than starting their elite education online amid the Covid pandemic. 19. At MIT, 8% of freshmen differed, up from 1% normally, depending on the university.

Professor Truong Nguyen Thanh, former vice president of Hoa Sen University in Saigon, a lecturer at the University of Utah and some Vietnamese universities, said sabbaticals are not really popular in Vietnam but that they would increase in the times to come.

“The pandemic has made many families unable to send their children to university. Many young people will postpone entering university or book their studies and go to work for a while before returning to school,” he said. Thanh said.

One of the reasons the sabbatical year would gain popularity is the growing awareness of independence among young people. In August 2020, the British Council conducted research on 1,200 young Vietnamese between the ages of 16 and 30 and found that around 40% felt pressured by their families to study or work in particular fields in which they showed little of interest.

At first, Bach’s parents disagreed with their son’s choice, claiming that no one had taken sabbaticals.

Dung also knew that his parents would not support him, so when he announced that he would drop out of school, he asked them not to give him a monthly allowance.

With only 70,000 VND in his wallet, the man from Hai Phong Town had to ask his friends for food and learn that he must live well before pursuing his passions.

According to a 2015 survey by the Gap Year Association and Temple University in the United States, people spending a year away from universities said that the sabbaticals helped them expand their knowledge and acquire the skills needed to be successful in life. .

Postponing admission for a while can also lead to higher grades later, according to a study from the University of Middlebury, United States.

But sabbaticals are a “double-edged sword” as young people can use them as an excuse to quit school, wasting their time and losing motivation for their studies, Thanh warned.

“90 percent of students who took a year off before going to graduate school did not return. Those who took a year off before going to undergraduate courses are at higher risk as their life goal is not clear and they may lose their habit of studying, ”he said. noted.

Dung is now CEO of a company specializing in the recruitment and career guidance of students.  Photo courtesy of Hoang Dung

Dung is now CEO of a company specializing in the recruitment and career guidance of students. Photo courtesy of Hoang Dung

During his gap year, Bach aimed to improve his English to achieve an IELTS score of 6.5. He worked part-time in a cafe and sold shoes and clothes, so he didn’t have to ask his parents for money.

“With a clear purpose, I never felt lost. I learned patience by going to work. And I’m proud to have been able to learn a lot from the talented people I know.”

However, he felt worried early in his student life at the international university.

“The gap year helped me better prepare for challenges and new relationships, I would have been overwhelmed and I would have had a hard time adjusting if I hadn’t taken the gap year”, said said the student from Binh Chanh district, HCMC.

Dung worked as a translator during his sabbatical year. Since 2019 he has worked in education, automotive and insurance sales.

With an initial income of VND 2 million per month, at the end of 2020, he caught the attention of Internet users by revealing his monthly income of $ 5,200.

Having done a lot of work, Dung found that practical experience helped him learn better. The more he worked, the more motivated he was to learn.

Last year, he returned to school to complete his classes before graduation. Currently, he spends up to four hours a day learning new knowledge and sometimes pays for classes given by famous businessmen in Vietnam.

At 23, Dung is CEO of a company specializing in the recruitment and career guidance of students.

“After all, the sabbaticals are not a waste, but a preparation for the acceleration of life,” Dung said, adding that the sabbaticals did not press the stop button when it came to. of university life.


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Buenos aires

ODA will create a new icon for buenos aires with its landscaped workspace

oda comes to argentina

ODA announces the unveiling of its first large-scale mixed-use project in buenos aires, dubbed “paseo gigena”. the project marks the conversion of a decaying parking structure into a public park and a ‘class A’ office building – the concrete shell will be replaced by cafes, restaurants, retail, a street promenade air, offices and sheltered parking.

located between the hippodrome and the popular park ‘el rosedal de palermo’, paseo gigena will act as a new emblematic civic space and an important point of connectivity for the city, again connecting the area that is today divided by this land .

visualizations by secchi smith

an organically eroded shape

with its development in buenos aires, the architects of oda and studio asenson are taking advantage of the unique location along the active park. the adaptive reuse project completes the park loop, going up the green path on the side of the building to the landscaped roof and down the other side, again connecting to the park.

the roof takes shape as a continuation of the public park, completed by a commercial brewery, as well as private terraces for office tenants, positioning the project as a key juxtaposition of the public and private sectors, unified by nature. the striking glass facade acts as a mirror to the sky and the verdant surroundings, creating organic curves that erode the edges of the existing parking structure.

ODA buenos aires

sustainable reuse in buenos aires

this sustainable design from ODA recycles 80% of the original structure to create a 160,000 square foot building that connects the two previously separated buenos aires neighborhoods. gigena will include more than 40,000 square feet of public terrace and open green spaces with pedestrian paths and a 250-space parking lot. The quintessential workplace and meeting place, the building offers 360-degree views with easy access to the main highway, making it an easy place to travel and a popular destination.

ODA creates a new icon for buenos aires with its fluid and landscaped workspace
the landscaped roof marks a fluid continuation of the surrounding park

ODA creates a new icon for buenos aires with its fluid and landscaped workspacethe project reuses 80% of an existing parking structure

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Spanish argentina

Lionel Messi was a ‘tyrant’ during training, says Barcelona manager Ronald Koeman – The New Indian Express

Through ANI

BARCELONA: Barcelona manager Ronald Koeman has said Lionel Messi is like “a tyrant” during training at Barcelona.

The Argentina star raised the bar at Camp Nou as he became one of the greatest players to ever play before joining Paris Saint-Germain this year.

“Lionel Messi darkened it all. He was so good and he won,” Koeman told Voetbal International, as goal.com reported.

“Of course he had good players around him, but he made a difference. Everyone looks better than them because of him. It’s not a criticism, but a statement,” said the Barcelona coach.

Koeman, who worked with the Argentina star for a year before Messi left the club for Paris Saint-Germain, said: “I knew how good he is, but it’s always nice to see him up close Everything you would like to teach a football player, in recognizing situations, in catching the ball under pressure, in ball speed, in finishing; with Messi everything is a 10 Not normal, not normal !

“When we were doing a finishing practice during practice there were sometimes players who would start hitting easy balls, a little bit of nonsense. But with Messi it was all: boom, boom, boom, boom. No frills. , everything was functional. And always wanted to win everything. “

Messi left Barcelona and ended his 20-year relationship with the club after he was unable to keep the Argentine due to financial difficulties.

Recalling the time he spent coaching the Argentinian, Koeman said: “We always play a rondo before training. If the ball goes 20 laps, then the middle players have to have an extra lap. occurs three times in a row, players will form two lines and the two that were in the middle will then cross over and be slapped on the head and so on. “

“I asked Messi if this had happened to him once. ‘Yes, once,’ he said. During all these years. With him, the older players have never lost an exercise against the young. It happened once and Messi was seriously angry about it for a week. Really, a bully, “he added.


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Buenos aires

Flybondi’s fourth Boeing 737 starts regular operations

This Thursday 23, the first scheduled flight of Flybondi’s new Boeing 737-800 took off from Aeroparque Jorge Newbery in Buenos Aires. The plane had been parked in Ezeiza since September 14, when it arrived from Lake Charles.

He is registered under the name LV-KAY and is 15.2 years old. The Boeing 737 was owned by Air India Express and Air Transat, with registrations VT-AXG and C-GTQG respectively. As a result of COVID-19, he had been grounded in the desert since March 2020.

Image: Rampa Flybondi Ezeiza

The Flybondi fleet

Airplane Registration Age Remarks
Boeing 737-86J LV-HFR 22.8 active
Boeing 737-838 LV-HKN 13.7 active
Boeing 737-8Q8 LV-KAH 16.2 active
Boeing 737-8Q8 LV-KAY 15.2 active

The commissioning of the LV-KAY is accompanied by the entry into maintenance (Apparently) the LV-HFR, one of the first Boeing 737-800s incorporated by Flybondi. This aircraft is at Ezeiza airport, and according to the current schedule, it will resume operations on September 28.

Flybondi routes from Aeroparque

Flybondi – September

Routes without passing through Buenos Aires

Flybondi

Flybondi routes in September

Of TO Airplane Weekly frequencies
Buenos Aires (AEP) Bariloche (BRC) Boeing 737-800 13/14
Buenos Aires (AEP) Cordoba (COR) Boeing 737-800 5
Buenos Aires (AEP) Corrientes (CNQ) Boeing 737-800 6
Buenos Aires (AEP) Iguazú (IGR) Boeing 737-800 4
Buenos Aires (AEP) Jujuy (JUJ) Boeing 737-800 6
Buenos Aires (AEP) Mendoza (MDZ) Boeing 737-800 3/5
Buenos Aires (AEP) Neuquén (NQN) Boeing 737-800 3
Buenos Aires (AEP) Posadas (PSS) Boeing 737-800 5
Buenos Aires (AEP) Salta (SLA) Boeing 737-800 7
Buenos Aires (AEP) Sgo. del Estero (SDE) Boeing 737-800 3
Buenos Aires (AEP) Trelew (REL) Boeing 737-800 3
Buenos Aires (AEP) Tucuman (TUC) Boeing 737-800 5
Cordoba (COR) Bariloche (BRC) Boeing 737-800 2

In October, Flybondi plans to resume regular operations from Cordoba to Iguazú, Neuquén and Salta.

Cordoba

See also: Aerolíneas Argentinas to fly between Viedma and Bariloche.

  • Iguazú (IGR): October 31 – 2 weekly flights
  • Neuquén (NQN): October 1 – 2 weekly flights
  • Salta (SLA): October 7 – 1 weekly flight

If these routes finally start, they will join Bariloche and Buenos Aires, the current destinations of the Argentine low-cost company to and from Cordoba.

See also: Emirates resumes flights to Sao Paulo with Airbus A380s.

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Gap year programs

Minnesota farmers do not have access to federal conservation dollars

Minnesota farmers show great interest in federal incentives to improve their conservation practices, but only a small minority have managed to win the grants.

This is not unique to Minnesota farmers, according to a new study from the Institute for Agriculture and Trade Policy. He revealed that between 2010 and 2020, successful demands from farmers across the country declined dramatically in two US Department of Agriculture programs that help farmers pay for equipment and adopt practices that reduce greenhouse gas emissions and help them adapt to climate change.

“This is going in the wrong direction in terms of ensuring that farmers have access to programs that incentivize the fight against climate change,” said Michael Happ, who led the study.

The gap between claims and recipients is particularly marked in Minnesota. Last year, only 17% of Minnesota’s Environmental Quality Assistance Program (EQIP) applicants were awarded contracts, and only 14% were successful in applying to the Conservation Stewardship Program (CSP ).

As the Biden administration and Congress prepare a federal spending package and Democrats call for significant new investments in combating and mitigating climate change, advocates for the two programs administered by the Natural Resource Conservation Service of the USDA claim that EQIP and CSP are proven and effective. to enlist the farmers directly in the battle.

“If we’re going to talk about how farmers can be part of the climate solution – well, they’re literally asking to do it, all we have to do is fund them,” said Jessica Kochick, policy organizer. federal governments to the Land Stewardship Project.

The Land Stewardship Project and the Institute for Agriculture and Trade Policy, both Minnesota-based nonprofits that promote the sustainability of agriculture, are advocating at the federal level for increased spending on both programs as governments Democrats are developing their reconciliation plan.

Kochick said many members of the progressive agriculture movement prefer established agendas that promote beneficial land management, as opposed to carbon market proposals in which companies seeking to offset their own carbon emissions would pay farmers for it. that they adopt more environmentally friendly practices.

But some Democrats in Washington have pushed carbon markets despite these concerns; On Thursday, the House Agriculture Committee held a hearing on the subject.

Ben Lilliston, director of rural strategies and climate change at the Institute, tweeted during the hearing that he agreed more with Republicans on the panel – “that a larger investment in conservation programs is much better for farmers, that these markets pay farmers little and shut down small farmers, ”he wrote.

Advocates speculated that one of the reasons the rejections from both programs were so high in Minnesota is that the state has been a leader in sustainable agriculture and that many farmers who received the incentives during some time were deemed ineligible.

Of the 1,541 Minnesota farmers who applied for the CSP last year, 223 were awarded contracts. Out of 3,512 who applied for EQIP, 611 were awarded contracts. With 50 states and two eligible territories, that left Minnesota 47th for CSP contracts and 50th for EQIP contracts.

Some other agricultural states had similarly low rates, but this was not universal. Of 3,635 Wisconsin farmers who applied last year, 1,436 got contracts, for example.

The National Resource Conservation Service press office did not respond to a request for comment on the report.

Congress cut funding for programs in the 2018 Farm Bill at the behest of the Trump administration, and Kochick has said that since then incentives have been more likely to be given to new applicants.

Hannah Bernhardt raises grass-fed beef, lambs and pork on pastures near Pine City. At 39, she has worked in agriculture full time for five years after returning from the east coast to Minnesota. Last year, she received approximately $ 30,000 in EQIP funds which enabled her to install the permanent fences and water pipes necessary for a rotating grazing system that promotes soil health and reduces the release of soil. carbon.

“This has allowed us to expand and develop our business,” said Bernhardt, and to grow his herd from 10 to 40 cattle. She said she felt doubly lucky when she learned how few Minnesota farmers qualified last year.

“They figured out how to help farmers,” Bernhardt said. “But if everyone can’t access it, he’s not doing what he could.”


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Spanish schools

Meet the Candidate: Ashley Simpson Baird for the School Board

ALEXANDRIA, VA – As voters begin to advance voting for the November 2 general election in Alexandria, one of the races they will decide is the Alexandria School Board.

The school board is made up of three districts, each of which has three board members who serve a three-year term. Members elected in the Nov. 2 election will take office in 2022. Voters will vote for District A, B or C of the Alexandria School Board, according to in which neighborhood do they live. There are five candidates running for three seats in District A, seven candidates for three seats in District B, and three candidates for three seats in District C.

One of the candidates for District B is Ashley Simpson Baird, whose company Merit Research, Policy, and Evaluation provides schools with equity-related solutions. She has three children: a current CSGA student and two future students.

Learn more about Ashley simpson baird and why she is running for District B of the Alexandria School Board in 2021:

Age (on polling day)

41

Position sought (mayor, municipal council, school board, etc.)

Alexandria City Public School Board, District B

Party membership

The school board election in Alexandria is non-partisan.

Family

My husband Andrew and I are from Northern Virginia and we first met at summer camp. We chose to raise our three children — Walker (7), Ames (5) and Hannah (2) —in Alexandria because of the incredible diversity and strong community we found here. As a family, you can often find us biking, swimming and hiking together. Walker is attending George Mason Elementary School and his siblings will join him in 2022 and 2024. Andrew and I will have children at CSGA until 2037, when Hannah finishes high school.

Does anyone in your family work in politics or in government?

No one in my family works for CSGA or the Alexandria City Government.

Education

BA, Pennsylvania State University
MA, Teaching English to Speakers of Other Languages, International Training School
MA, Teaching Spanish, International Training School
Ph.D., Education, University of Virginia

Occupation

I have dedicated my career to improving public education. I am the founder and director of Merit Research, Policy, and Evaluation, which provides equity-focused solutions to schools, districts and education support organizations. The job of a school board member is very similar to what I do every day in my business: advising education leaders, analyzing data to inform decision-making, and creating policy solutions to improve student results.

Previous or current office elected or appointed

I am a candidate for the first time.

Campaign website

https://www.ashleysimpsonbaird.com/

Why are you looking for an elective position?

Running for the school board is something I have always aspired to do. I left teaching 10 years ago to pursue my PhD because I wanted to have a greater impact on public education. I have done this as part of my research, policy and technical assistance work, but it has happened in places outside of Alexandria. Now, I want to use my expertise to impact schools in our community and share the knowledge I’ve gleaned from other school districts facing similar challenges and opportunities.

I bring multiple perspectives to making decisions that would impact our schools. I have been a teacher, administrator, teacher trainer, researcher, PTA member, and parent. I am confident that I have the knowledge and skills to help put CSGA back on the upward trajectory it was on before the pandemic. There are so many wonderful things about the schools in Alexandria, but there are also many things that could be better; CSGA students deserve it.

The most pressing issue facing our (council, district, etc.) is _______, and that’s what I intend to do about it.

CSGA is at an inflection point. The decisions we make now to counter the impacts of the pandemic have the potential to alter the educational trajectories of a generation of students. CSGA needs to make concrete plans and financial investments to ensure that we thwart unfinished learning and provide the necessary social and emotional support to staff and students. In the first case, CSGA needs to strengthen the implementation of its multi-level support systems, support educators in the delivery of accelerated learning, and provide targeted, research-based interventions for students in need. additional support. On this last point, CSGA needs more mental health professionals in schools and new partnerships with community organizations that can provide enveloping supports.

What are the critical differences between you and other candidates for this position?

The voters of Alexandria are fortunate to have so many strong candidates to choose from for this year’s election and I am honored to be among them. I am an education expert with over 20 years of experience in improving public education. I bring multiple perspectives to making decisions that would impact CSGA. I have been a teacher, administrator, teacher trainer, researcher and ACPS parent who will have children in our schools until 2037.

Most of my professional work has taken place outside of CSGA and I bring knowledge of how other school districts facing similar challenges and opportunities have behaved. I am the only candidate from district B with a doctorate. in education and I am the only candidate for the school board who speaks fluent Spanish. This is especially important given that thirty-seven percent of CSGA students identify as Hispanic / Latinx, the largest racial and ethnic group in CSGA. I started learning Spanish in primary school, I improved my fluency during my service in the Peace Corps in Bolivia and one of my master’s degrees in teaching Spanish (the another is teaching English to speakers of other languages).

If you are a challenger, how has the current board or incumbent failed the community (or district or constituency)

There are no incumbents seeking re-election in my district.

How do you think the local authorities reacted to the coronavirus? What if something would you have done differently?

At the onset of the pandemic, ACPS did an incredible job ensuring that all students had access to devices and Wi-Fi, making food accessible to families who needed it, and improving the delivery of learning. virtual from Spring 2020 to Fall 2021. In the 2020-2021 school year, CSGA should have tried to bring back smaller groups of students for in-person learning earlier in the year, especially the very young students, English learners and students with special needs.

In the fall of 2021, I think CSGA was too late in developing a mandate and testing plan for vaccines. Both should have been in place before the start of the school year. The lack of forethought about it has forced more children to quarantine themselves and miss the in-person learning at a time when they have to work on the unfinished learning of the past year and a half. Additionally, I believe CSGA should allow principals to develop school-specific meal plans that aim to mitigate transmission of the virus using outdoor spaces and other areas of the building.

Describe the other issues that define your campaign platform.

My campaign platform focuses on the three Rs: rebuilding trust, restoring accountability and re-engaging fairness

This will guide my work as a member of the School Board. We will accomplish these things by strengthening the fundamentals of our school system law, including communications, staffing, health and safety, and education. This is what will help CSGA emerge from the pandemic as a stronger school district.

What accomplishments in your past would you cite as proof that you can handle this job?

With over 20 years of experience in education and as a small business owner, I previously served as Chairman of the Board of the Next Step Public Charter School in Washington, DC. In DC, charter schools are considered local education agencies (i.e. school districts) and their boards approve their budgets, assess the headteacher, develop policies, and advise staff on decisions. programmatic.

The best advice ever shared with me was:

I’m a fan of Brené Brown and I buy into his wisdom that good leaders don’t focus on “being right” but “doing it right”. I always try to do things right.

What would you like voters to know about yourself and your positions?

More than ever, our community is attentive to what is happening in the schools of our city. We need to harness this interest to better involve families and community members in our schools and at the same time show them the incredible potential that exists within CSGA.


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Buenos aires

Qantas announces historic non-stop repatriation flight from Buenos Aires – MercoPress

Qantas announces historic non-stop repatriation flight from Buenos Aires

Thursday, September 23, 2021 – 09:00 UTC

The 18-hour flight to Darwin will focus on masks, PPE and social distancing rather than premium services.

Australian airline Qantas is planning a historic non-stop repatriation flight from Buenos Aires Ezeiza Airport across the South Pole aboard a Boeing 787-9 Dreamliner, it has been announced.

The reason for choosing Darwin and not Sydney. Melbourne or any other major city in the country is that the Australian government has a facility there for passengers to observe a mandatory 14-day supervised quarantine.

The aircraft chosen for the operation could accommodate up to 236 passengers.

The distance between Buenos Aires and Darwin is 14,683 kilometers (9,124 miles), which implies a record for the Australian company in flights operated with Boeing 787. Currently, its longest route with these planes is Perth – London Heathrow, just over 9,000 miles.

Flight QF 014 is scheduled to depart Buenos Aires (EZE) at 12:25 p.m. on October 5 and arrive in Darwin (DRW) at 6:45 p.m. local time the next day.

Darwin International Airport is the busiest in the Northern Territory and 10th in Australia. It is the only aerial station in the city. The airport is located in the northern suburb of Darwin, 8 km from the city center, in Eaton.

In October 2019, Qantas flew from Sydney to New York, a historic event for commercial aviation that connected the two cities non-stop for the first time. The flight duration was 19 hours and 16 minutes. In November of the same year, a special flight between London and Sydney also took place.

While 9,124 miles is not in itself a feat for a long-haul specialist like Qantas, the operation between Buenos Aires and Darwin will remain an important event, in terms of distance, flight time and connection for the first. and probably the only time. time between the two cities.

The flight is one of a series of repatriation services on behalf of the Australian government. Qantas recently stepped up the pace of those flights, saying it will perform 90 repatriation flights in 90 days. The flight from Buenos Aires is one of them.

The Australian Department of Foreign Affairs and Trade (DFAT), which organizes and underwrites repatriation flights, has announced that more than 55,000 Australians have returned since the start of the pandemic, including more than 26,800 people on around 180 flights from government-facilitated repatriation like this, which will bring passengers to the large government quarantine camp just outside the city in northern Australia.

Qantas has made two attempts to operate scheduled flights to Buenos Aires. Qantas first flew there between 1998 and 2002 and again in 2008 via Auckland. Qantas ended these flights in 2012 when it moved its South American port to Santiago. At the time, Qantas argued that Santiago made a more strategic sense. But due to COVID-19, Qantas has not flown to Santiago since March 2020 and there is still no confirmed date to resume service.

The departure from Qantas has left Aerolineas Argentinas the only airline to operate non-stop flights between Sydney and Buenos Aires. But Aerolineas Argentinas abandoned the route in 2014. Aerolineas Argentinas had been flying between the two cities for years. However, the airline only went non-stop in 2012, hoping to benefit from Qantas’ exit.

Regardless, the 18-hour flight to Darwin will focus on masks, PPE and social distancing rather than premium services.

Qantas has made COVID-19 vaccination mandatory by November 15 for people in contact with passengers and by the end of March 2022 for administrative staff. The company plans to resume flights to countries with high vaccination rates such as the United Kingdom, the United States, Canada, Japan, Singapore and Fiji as soon as possible.

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Gap year programs

Investors expect rate hikes with Fed cut plan almost certain

A screen displays a statement by Federal Reserve Chairman Jerome Powell following the announcement by the US Federal Reserve as a trader working on the floor of the New York Stock Exchange (NYSE) in New York, United States United, September 22, 2021. REUTERS / Brendan McDermid

NEW YORK, Sept. 23 (Reuters) – Investors are wondering how an easing of easy Federal Reserve monetary policies could affect asset prices, after the central bank signaled that a slowdown in its bond was closer than ever and suggested it might raise rates at a faster rate than expected.

In what some have described as a hawkish tilt, the Federal Reserve on Wednesday cleared the way to start cutting its monthly bond purchases as early as November, and nine of the 18 U.S. central bank policymakers forecast borrowing costs are expected to increase in 2022. read more

Fed Chairman Jerome Powell said the US central bank could complete its downsizing process around the middle of next year, as long as the recovery remains on track. Read more

The focus on rate hikes comes as investors assess how markets will react to the unwinding of the central bank’s $ 120 billion-per-month bond purchase program, which has helped the S&P 500 to double by compared to its March 2020 lows.

While many expected the central bank to start relaxing before the end of the year, some investors have said the projected rate hikes could raise concerns about whether the Fed risks tightening its policy. monetary policy at a time when the economy could be significantly weaker than it is today. , which risks undermining the case for equities and other relatively risky assets.

“With this hawkish move, the Fed risks tightening its policy in a context of slow growth,” said Emily Roland, co-chief investment strategist at John Hancock Investment Management.

Stocks held onto their gains after the Fed’s statement, with the S&P 500 closing almost 1% higher.

In Treasury markets, the spread between five-year bonds and 30-year bonds fell below 100 basis points after the Fed declared policy to the lowest level since July 2020. A narrower spread could indicate factors such as economic uncertainty, the easing of inflationary fears and the anticipation of tighter monetary policy.

“The rate market interpreted the Fed’s communications as hawkish,” analysts at BoFA Global Research said in a note. “The more hawkish Fed is a key ingredient in our view of higher rates by the end of the year.”

The fed funds market fully accommodated a rate hike by January 2023 after the declaration, pushing forward planned rate hikes by one month.

TD Securities analysts expect the central bank to cut its asset purchases by $ 15 billion per month from November, which will help increase yields and strengthen the dollar, they said in a report.

The trajectory of the US currency is important to investors because it impacts everything from commodity prices to corporate earnings. Higher yields make dollar-denominated assets more attractive to income-seeking investors. The greenback was up 0.23% against a basket of its peers on Wednesday night.

“Once the dust settles, it appears there are enough hawkish signals to keep the dollar skewed higher, as the market considers a rate hike sooner than expected,” said Joe Manimbo, market analyst senior at Western Union Business Solutions.

Others were optimistic about the Fed’s outlook, saying the more hawkish view reflected the strength of the economy in the face of a COVID-19 resurgence.

Markets are likely to remain more focused on the inference that further rate hikes in 2022 and 2023 suggest a strengthening economy than on the Fed’s cutback plan, said Mark Freeman, chief investment officer at Socorro Asset Management. .

“Powell has made it clear on several occasions (…) that the criteria for reduction are very different from the criteria for increasing rates, which are much higher” and will have more impact on the market, he said. .

Rick Rieder, director of global fixed income investments at BlackRock, said in a note that strong demand for Treasuries would likely minimize the impact of the Fed unwinding.

“With the demand for income and financial assets that we are seeing (…), the modest decrease likely to be observed on the part of the Fed has no consequences for the markets,” he said. declared.

Reporting by David Randall; Additional reporting by Sinead Carew and Gertrude Chavez-Dreyfuss; Editing by Ira Iosebashvili and Leslie Adler

Our Standards: Thomson Reuters Trust Principles.


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Spanish argentina

Air Europa seeks to implement temporary layoffs and merger with Iberia threatened

Spanish tourism group Globalia said it was looking to implement a temporary layoff plan (Expediente de Regulación Temporal de Empleo, ERTE) fearing a drop in demand during the fall-winter (boreal) season. The measure will affect some 9,000 employees, or 60% of the total.

According to El Confidencial sources, Globalia intends to initiate a negotiation process with the unions to apply an ERTE for economic reasons (called ETOP) in all of the group’s subsidiaries due to the drop in post-holiday bookings. and the lack of guarantees for the extension of ERTEs approved by the Spanish government during the pandemic.

In the case of Air Europa, the crisis impacted its long-haul flight operations due to health restrictions in its most important markets in Latin America: Argentina, Brazil and Peru, and in North America to the United States. . The airline was involved in the controversy over government aid from the Sociedad Estatal de Participaciones Industriales (SEPI), which granted it loans of 475 million euros.

Air Europa employees, including cabin crew, pilots and ground crew, rejected a further 6% pay cut months ago. The union questioned the adjustment, citing the high salary of the new member of the company’s board as an example.

Iberia, which is part of the International Airlines Group (IAG), is also in negotiations with unions to include more than 5,000 employees.

Threatened Iberia-Air Europa merger

The economic situation of the main Spanish long-haul operators could call into question the acquisition of Iberia by IAG and the merger of Air Europa to strengthen their operations at Adolfo Suarez Madrid-Barajas airport.

The European Union, through the Commission for the Defense of Competition, has also indicated that there are other difficulties to be resolved in relation to the dominant position that the cooperator would have on the Spanish market. One of the decisions would be to cede slots (landing and take-off slots) to low-cost competitors like Ryanair, which would hurt operations and eliminate the competitive advantage, making the idea of ​​the merger less attractive.


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Spanish schools

Enrollment continues to decline in Ely schools

Keith vandervort

ELY – ISD 696 enrollment is down by nearly 30 students this year compared to last year, according to district administrators. And registrations continued to decline this week.
Enrollment in K-12 grades has been reported at 531 students to start the 2021-22 school year, down 28 from a year ago at this point. The number of enrollments is also12 lower than that recorded at the end of the previous school year last June.
However, in Memorial High School’s first two daily newsletters this week, up to six other students were listed as “most enrolled in our school.” No reason was given for students leaving school.
Enrollment could drop further if students drop out to protest the recent face mask mandate put in place here. Memorial High School senior Micah Larson told school board members last week that he would leave the school if his petition request to overturn the public health measure was not honored.
“I’m going to lose scholarships, maybe even college opportunities. And you will lose a high performing student and current class of 2022 class, ”he said.
The school board did nothing to rescind the face mask mandate. In fact, a second positive case of COVID-19 was reported in the Washington school community this week.
The Timberjay could not confirm whether Larson followed through on his threat to quit.
Superintendent Erik Erie said the outgoing senior class of 37 graduates has been replaced with a new kindergarten class of 34 students. But that’s just a drop of three students.
In the Washington school, the Kindergarten to Grade 6 enrollment of 231 includes: 34 Kindergarten students; first year, 34; second year, 33; third year, 29; fourth year, 48; and fifth year, 53.
At Memorial School, Grades 6 to 12 have 300 students: Grade 6, 43; seventh year, 48; eighth grade, 37; ninth grade, 55; tenth grade, 40; eleventh year, 45, and twelfth year, 31.
Erie said the school district’s budget planning assumed that up to 538 students would start the new school year. He said he would analyze the numbers with ISD 696 chief financial officer Spencer Aune and expected the state’s revenue to decline.
“There are still students on the move,” Erie said. “We can win students, as we usually do; we hope not to lose anymore.
He acknowledged that some students had been sent home due to recent issues with compliance with the mask’s mandate.
Since 2009, when school enrollment numbers reached 538, ISD 696 recorded years of enrollment numbers in the 500s. Prior to that, decades of enrollment numbers in the 600 and 700 range. were common. Enrollment in 1995 was 921. Enrollment in 2000 was 783 and the numbers showed a steady decline.
A home school census is expected to be released next month by school officials. Almost 30 students were listed as homeschooled in the district last year, roughly double the previous year. Erie said a more in-depth enrollment analysis would be presented to school board members during their study session on Monday.
Other business
In another action at their September 13 meeting, school board members:
Set the Tax Truth Budget Meeting for Monday, December 13 at 6 p.m.
• Accepted the resignation of paraprofessional Gail Lekatz.
• Accepted Melissa Hart’s resignation from her cafeteria helper position and hired her for a temporary cafeteria helper position.
• Hiring of Anja Nienow as foreign language teacher of 0.171 FTE.
• Hiring of Ronda Puzel as a playground assistant.
• Hired Bobby Ridings and Cindee Wright as paraprofessionals.
• Hiring of Justin Olson as temporary full-time caretaker.
• Hiring of Mary Schwinghamer as a temporary nurse.
• Endorsed Sarah Anderson as Youth in Action Advisor and Amy Kingsley as Junior / Senior Banquet Advisor.
• Approval of a cooperative sponsorship with Northeast Range High School for football for the 2021 season.
• New teachers were introduced to Brittany Baier, Kindergarten, Suzanne Zobitz, Spanish, Tim Hogan, Industrial Arts and Sara Anderson, Mathematics.


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