JAPAN: Mazda recalls nearly 70,000 RX-8 sports cars in the US over fuel leaks that may cause fires – AP – @AceFinanceNews

#AceFinanceNews – Nov.15: Mazda recalls nearly 70K cars; fuel leaks may cause fire

Mazda recalls nearly 70,000 RX-8 sports cars in the US over fuel leaks that may cause fires – AP

http://apne.ws/2fSGG3X

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NYC: EMPIRE STATE REPORT: A measure of New York-area manufacturing conditions turned positive in November for the first time in four months, as respondents reported both rising new orders and shipments – @AceFinanceNews

#AceFinanceNews – Nov.15: Empire State index turns positive for first time in four months
// MarketWatch

MW-EU175_manufa_20160818100539_MG.jpg?uuid=d82af892-654c-11e6-9301-0015c588dfa6Bloomberg

Technicians prepare for steel machining on a steam turbine rotor.

A measure of New York-area manufacturing conditions turned positive in November for the first time in four months, as respondents reported both rising new orders and shipments.

The Empire Fed index rose 8.3 points to 1.5, on a scale where any reading above zero indicates improving conditions, the New York Fed said Tuesday.

The new-orders index climbed 8.7 points to 3.1, and the shipments index rose 9.1 points to 8.5.

The inventories index fell 11.3 points to -23.6, a multiyear low, indicating that inventory levels declined significantly.

However, the index for number of employees dropped 6.2 points to -10.9, and the average workweek also remained in negative territory.

The Empire State report is the first of many regional manufacturing gauges released ahead of the national Institute for Supply Management survey, which in October was positive for the second month.

Manufacturing output was flat in the 12 months ending September, a separate Federal Reserve report shows….

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LONDON: DWP: Press Release Pensions Minister moves to create exit charges equality They will ensure that people are not unfairly penalised for accessing their savings early on occupational pensions currently charged at around 5% of the fund – GOV UK – @AceFinanceNews

#AceFinanceNews – Nov.15: Press release: Pensions Minister moves to create exit charges equality

New plans to bring in a cap on early exit charges for occupational pensions have been announced by the Minister for Pensions today.

They will ensure that people are not unfairly penalised for accessing their savings early.

Currently people can face average early exit charges of around 5% of their pension pot simply for cashing in their own savings.

The cap will be set at 1% for existing occupational pensions and 0% for any new contracts, removing unnecessary barriers for those wanting to access their savings. This will bring exit charges for workplace pensions in line with other personal and stakeholder pensions.

Minister for Pensions, Richard Harrington, said:

We are restoring fairness and creating a level playing field in a system that has favoured the interests of providers over consumers for too long.

This new cap will protect people’s savings from excessive charges, so more of their money will go towards the comfortable retirement they have saved for.

The cap on occupational pensions, will be regulated by The Pensions Regulator (TPR), mirroring the work of the Financial Conduct Authority (FCA) for personal and stakeholder pensions.

Executive Director for Regulatory Policy at The Pensions Regulator, Andrew Warwick-Thompson, said:

We welcome the Department for Work and Pensions’ announcement today to implement a cap on early exit charges for occupational pensions.

It is important that there should be a level playing field between trust and contract based pension schemes. This is another important step in helping to ensure the best possible outcomes for savers.

Read the government response to the consultation on capping early exit charges for members of occupational pension schemes (published 15 November 2016).

Today the Financial Conduct Authority also announced it will cap early exit fees for personal and stakeholder pensions at the same level.

The government will consult on the regulations in early 2017, with the cap set to come into force in October 2017.

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I would remind you that this blog is produced free for the public good and you are welcome to republish or re-use this article or any other material freely anywhere without requesting further permission.

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To keep online information secure, experts recommend keeping your social media accounts private, changing your passwords often, and never answering unsolicited emails or phone calls asking for your personal information. Need help and guidance visit https://acepchelp.wordpress.com and leave a comment or send a private message on Telegram @Aceone31

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MARKETS: CHINA: Yuan slumps to 8-year low as dollar extends gains as their central bank lowered the reference rate for the eighth consecutive trading day – SCMP – @AceFinanceNews

#AceFinanceNews – Nov.15: Chinese yuan slumps to 8-year low as dollar extends gains

The yuan continued to weaken on Tuesday, sliding to an eight-year low after China’s central bank lowered the reference rate for the eighth consecutive trading day.

The ongoing drop in its value comes as the US dollar continues its post-election rally.

The US Dollar Index, a gauge of the greenback against a basket of major currencies, traded at 99.53 after hitting one-year high at 100.11 earlier Tuesday morning, as investors anticipate higher government spending and more restrictions on…

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