AUSTIN, Texas. Austin employers struggling to find workers who will take less than $15/hour after Sanders agreed to reintroduce bill to pay minimum wage of $15 and hour – @AceFinanceNews

#AceFinanceReport – Apr.27: On Wednesday Sanders agrees to reintroduce minimum wages of $15-per hour today (KXAN) reported though unemployment in the Austin area has been slowly climbing the last few months, there are plenty of job openings, but not many takers #AceNewsDesk reports … 

Austin employers struggling to find workers who will take less than $15/hour in an interesting shift in the labor landscape, employers can’t find workers. Like Susan Davis, owner of Counter Culture, a vegan restaurant on the east side.

“I just had to stand back and be like, ‘OK, one day a week we can regroup,’” Davis said.

She hit a hiring hurdle, and was forced to shut her doors one day a week and give her overworked employees a break.

“I recently, about a month ago, put up a Craigslist ad and got no resumes,” she said. “There’s also In The Weeds, it’s a Facebook group and you just look through that and every day is someone — at least 20 restaurants are posting, ‘we need help, we need help, we need help.’”

Davis has been struggling to fill lower wage, sometimes lower skilled positions, at the price she can afford.

“I never start anyone out less than $11. I don’t feel like that’s a livable wage even at that, but if you have no experience or [are] going into it as a dishwasher, I really can’t afford more than $11 or $12.”

It’s a trend Austin hiring services are noticing as well.

I really can’t afford more than $11 or $12

“Four years ago we were staffing for positions that were maybe $9-$10 an hour, they were difficult to fill then but we were able to get some folks for those type of roles. But now it’s almost impossible to find anybody who will take those positions at even $11 an hour,” said Amy Moore, a recruiting consultant with KeyStaff, Inc.

Right now, Keystaff has 100 positions to fill, the highest number in years. The solution, they say may be for business owners to find a way to pay up because people are getting picky.

“We have all these companies that are large that are paying a really good salary and so they are competing for the best talent and so you have to be competitive and pay,” Moore says. “There are just more jobs than there are people willing to take the jobs in Austin right now.”

Rising home prices are part of the problem, making Austin less affordable for people with lower incomes. The median price for a single-family home in Austin has jumped more than 12 percent in the last year. It’s now more than $371,000.

And the city of Austin faced a similar staffing problem, struggling for several years to find enough lifeguards to open all of its pools on time. Then it increased the pay. In 2014, nearly half of the city’s pools did not open on time. At the time, those lifeguard positions paid between $8 and $25 per hour.

The same situation delayed openings in 2015 and 2016 — the first year the city offered a $100 sign-on bonus. This year, lifeguard pay starts at $13-$50 an hour.

The city’s still looking to hire lifeguards and pool attendants, people who help enforce pool rules, pick up trash and clean debris from pool decks. That position pays $12 an hour. Thursday’s job fair is at the Aquatics Administration and Training Center on San Gabriel Street from 4-8 p.m.

Davis says she will be raising menu prices and offering even more company incentives to get employees on the payroll.

“It’s heartbreaking to see a customer, just as we are talking, come up to the door, turn the handle and realize we are closed. That’s the worst part, letting the customers down.”

Keystaff has an open enrollment period for all available positions Thursday, April 27 from 8 a.m.-2:30 p.m. For more information visit their website here

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WASHINGTON: Trump tax plan cuts top income tax rate from 39.6 to 35 percent, doubles amount taxpayers can deduct Video Fox News – @AceFinanceNews

#AceFinanceNews – Apr.27: The Trump administration reveals details of its highly anticipated tax overhaul, which Rep. Kevin Brady—chair of the House Ways and Means Committee—told FOX Business needs to be “bold” in order to produce sustainable economic growth

Trump tax plan cuts top income tax rate from 39.6 to 35 percent, doubles amount taxpayers can deduct.

— The Associated Press (@AP) April 26, 2017

#AceNewsDesk

Watch: http://video.foxbusiness.com/v/5412171403001/?#sp=show-clips

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#BRICS Third Meeting in India sides adopt a ‘ Joint Communique Document ‘ – #AceFinanceDesk reports – @AceFinanceNews

#AceFinanceReport – Apr.13: On April 11−12, the third consultative meeting of #BRICS special representatives took place in Visakhapatnam, India – #AceFinanceDesk

The conference was attended by Russia’s Deputy Foreign Minister and Special Presidential Representative for the Middle East and Africa Mikhail Bogdanov, India’s Deputy Foreign Minister Sanjay Singh, South Africa’s Deputy Minister of International Relations and Cooperation Nomaindiya Mfeketo, China’s Special Envoy on the Middle East Gong Xiaosheng and Brazil’s Director of Department of Middle East Affairs Ligia Maria Sherer.

The sides adopted a joint communique
http://bit.ly/2o9ywJ0

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PENTAGON: 13/04/17: Contracts awarded to companies by the Pentagon – #AceFinanceDesk reports – @AceFinanceNews

#AceFinanceNews – Apr.13: These are the announcement of ‘ Defence Contracts ‘ awarded to companies by the Pentagon on 13/04/17 #AceFinanceDesk reports

01:00: BAE RFeceives $12-Million Contract to Prepare Aegis Missile Ships in Shakedown Process

00:52: L-3 Wins $200-Million US Navy Maintenance Contract on C-12 Huron Light Lift Aircraft

00:34: Oshkosh Defense Wins $260-Million to Overhaul US Army’s Heavy Transport Vehicles

#AceNewsDesk reports

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LOUISVILLE, Ky. Toyota said Monday it is investing $1.33 billion to retool its sprawling factory in Georgeto wn, where the company’s flagship Camry sedans are built – #AceFinanceDesk reports – @AceFinanceNews

#AceFinanceNews – Apr.11: Under an announcement on Sunday night Toyota is being incentivise to retain jobs in America and says the upgrades amount to the biggest single investment ever at one of its existing plants in the United States – #AceFinanceDesk reports …

WTDN Toyota announces $1.33 billion investment in Kentucky plant the retooling also will sustain the existing 8,200 jobs at Toyota’s largest plant, where about one-fourth of all Toyota vehicles produced in North America are made, the automaker said.

This major overhaul will enable the plant to stay flexible and competitive, further cementing our presence in Kentucky,” said Wil James, president of the plant, which also assembles the Avalon and the Lexus ES 350.

The updates at the Kentucky plant are part of Toyota’s plans to invest $10 billion in the United States over the next five years, said CEO Jim Lentz of Toyota Motor North America, in a news release.

President Donald Trump, in a paragraph that Toyota said was added to its news release at the White House’s request on Sunday night, praised the investment and said it is “further evidence that manufacturers are now confident that the economic climate has greatly improved under my administration.” The paragraph cited the National Association of Manufacturers’ first-quarter outlook survey. It found that 93.3 percent of manufacturers are somewhat or very positive about their company’s outlook, a record high that’s up from 77.8 percent in December.

Trump wasn’t included in the first version of a news release distributed on Friday by Toyota in advance of Monday’s announcement. The release, however, included quotes from Kentucky’s two senators and governor.

White House spokeswoman Natalie Strom said that Toyota “actually reached out to us and wanted to include the president.”

The Toyota investment has been in the works for years as it gears up for production of the revamped 2018 Camry, long the top-selling car in the U.S. Toyota has said the Camry’s new underpinnings were designed four or five years ago, and the factory upgrade is needed to build the new car which goes on sale late in the summer. The 2018 Camry features a new exterior design, an upgraded interior and a new engine. The plant recently added more than 700 workers to support its launch.

“The (production) line itself is being retooled to accommodate this change,” Toyota spokesman Scott Vazin said.

The automaker said the plans call for updating equipment at the Kentucky plant to streamline production and for construction of a new paint shop.

Toyota is betting that the changes will solidify Camry’s premier sales position. That dominance is under threat from the popularity of SUVs.

“When the 2018 Camry hits the roads later this year, I’m convinced that it will have heads turning,” James said Monday.

James said the upgrades will position the plant “to compete globally for new models, build ever-better cars for our customers now and enable us to respond quicker and more capably to market demands.”

The investment follows the automaker’s decision in 2013 to spend $530 million in the plant to begin building the luxury Lexus ES 350 in Kentucky.

Last year, the Kentucky plant produced more than 500,000 vehicles.

State and local officials attended an event Monday at the Georgetown plant to celebrate the automaker’s investment.

Kentucky Gov. Matt Bevin said Toyota’s investment is “further proof of their commitment to producing American-made cars.”

“Thank you for this investment,” Bevin said. “Words don’t even begin to fully express the gratitude that the commonwealth of Kentucky has for Toyota, for your investment, for your partnership.”

Kentucky economic development officials sweetened Toyota’s existing incentive agreement with the state as a result of its latest investment.

State officials added up to $43.5 million in tax incentives, making Toyota eligible for up to $190 million in incentives that span multiple projects. The performance-based incentives allow Toyota to keep a portion of its investment through corporate income tax credits and wage assessments by meeting job retention and new capital investment targets, state officials said.

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INTERVIEW: Iran Aseman Airlines agreement to purchase Boeing vs. Airbus and reasons for choice including 18,000 jobs sustained – #AceFinanceDesk reports – @AceFinanceNews

#AceFinanceNews – Apr.06: We reported on 04/04/17: 09:59: BOEING CONFIRMS SIGNING MEMORANDUM OF AGREEMENT WITH IRAN ASEMAN AIRLINES ON $3-BILLION PURCHASE OF 30 BOEING 737 MAX AIRPLANES – #AceNewsDesk reports

Iran Aseman Airlines Inks Deal With Boeing to Buy 60 B737-Max Jets
Iran Aseman Airlines has signed a Minute of Agreement (MOA) with the American plane giant Boeing to purchase 60 B737-Max passenger jets worth more than $5 billion based on catalogue prices. The document was signed on March 18, during a meeting with Boeing representatives in Tehran

After the agreement for purchase was inked for 60-Boeing 737 aircraft in controversial sale to Iran on Tuesday this interview was given to the Financial Tribune over reasons for choice “Aseman likely went with the 737-Max family for a number of reasons.
While the competing A320neo has been a big seller, Boeing has far better delivery openings for new customers,” Saj Ahmad, chief analyst at StrategicAero Research, told Financial Tribune..
CEO of Iran Aseman Airlines Hossein Alayi (L) shakes hands with James Larson, regional director for contracts at Boeing, in Tehran on March 18.Iran Aseman Airlines has signed a memorandum of agreement with the American plane-maker Boeing to purchase 30 B737-Max passenger jets worth $3 billion based on catalogue prices with the option of adding 30 more in the future.

“The agreement was signed on March 18 in the presence of Boeing representatives in Tehran … after almost one year of negotiations,” director general of the carrier’s public relations, Seyyed Amirreza Mostafavi, told Financial Tribune on Tuesday.

He said the deal is now pending licenses from the US Treasury Department’s Office of Foreign Assets Control, adding that Aseman expects to finalize a contract in three to four months.

Boeing confirmed the deal in a statement, saying the deliveries would be scheduled to start in 2022.

Iran Aseman Airlines, owned by Iran’s Civil Service Pension Foundation, is the second Iranian airline to order brand new aircraft from Boeing after the lifting of nuclear sanctions in January 2016, as part of the nuclear deal Iran clinched with the world powers earlier in 2015.

In December 2016, Iran Air finalized a deal with Boeing to buy and lease 100 jets including 50 narrow-body 737max 8s, 15 wide-body 777-300ERs and 15 777-9s, which will be delivered to Iran Air over 10 years.

Aseman’s deal with Boeing comes at a time when many believe the US President Donald Trump’s hardline stance on Iran has put the plane deals at risk.

The Wall Street Journal referred to the recent agreement as Boeing’s first agreement with an Iranian airline since Trump, a critic of closer ties with Tehran, took office.

Both Airbus and Boeing have received licenses from the US Treasury Department’s Office of Foreign Assets Control to supply 200 passenger aircraft to Iran Air. Airbus has agreed to sell 100 planes to the flag carrier.

Iran Air has already received three of the airplanes it ordered from Airbus. It is also in talks to finalize another contract with French-Italian manufacturer of regional planes ATR to purchase 20 aircraft with the option of adding 20 more.

ATR and the Iranian carrier have failed to reach a final contract as yet, amid uncertainty over licenses for engines made by a Canadian subsidiary of Pratt & Whitney. It is America’s top military engine-maker that supplies to the F-35 fighter project.

Political risks of dealing with Iran has forced Pratt & Whitney to take a cautious stance, at a time when Trump is attacking the F-35 project, as part of his general criticism to aerospace firms for going over budget.

Boeing vs. Airbus

While an Airbus order might have been a safer option, Mostafavi said Aseman is confident that the American company could offer better technical options considering the size of the order.

“Aseman likely went with the 737-Max family for a number of reasons. While the competing A320neo has been a big seller, Boeing has far better delivery openings for new customers,” Saj Ahmad, chief analyst at StrategicAero Research, told Financial Tribune.

On a technical standpoint, the CFM International LEAP-1B engine that powers the 737-Max is far more robust, fuel efficient and has better and longer on-wing time compared to the GTF engine on the A320neo, according to the expert.

“We have seen various press reports out of India about GTF-powered A320neo’s having countless engines being stripped/removed and replaced. With the 737-Max, Aseman will have no such issues. It is technologically better as well as lighter than the competing Airbus jets,” he said.

Aseman, however, is in talks to add two Airbus A340s and seven A321s to its fleet, which is the third largest in Iran after Iran Air and Mahan. Aseman’s fleet boasts three A320-200s, one A340-300, four ATR72-200s, two ATR72-500s, three B727-200s, one B727-200(F), two B737-400s and 19 Fokker 100s.

“The [Boeing] deal might also signal Trump’s willingness to better understand and approve deals with Iran. Why would he jeopardize a deal that brings thousands of jobs to Boeing and across the US aerospace supply chain? It’s a no brainer really,” Ahmad said.

The Boeing statement added: According to the US Department of Commerce, an aerospace sale of this magnitude creates or sustains approximately 18,000 jobs in the United States.”

Mostafavi said Boeing has received a green light from the US government and the procedures are in progress to receive supply permits.

Boeing says it negotiated the MoA under authorizations from the US government following a determination that Iran had met its obligations under the nuclear accord signed in 2015.

Boeing will look to the Office of Foreign Assets Control for approval to perform under this transaction ” Boeing continues to follow the lead of the US government with regards to working with Iran’s airlines, and any and all contracts with Iran’s airlines are contingent upon US government approval,” the statement said.

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DELHI, India. #BRICS Memorandum of Understanding signed between the two international financial institutions NDB (China) and EBRD to foster sustainable development and infrastructure in the emerging markets of their respective regions of operations – #AceFinanceDesk reports – @AceFinanceNews

#AceFinanceReport – Apr.03: The EBRD signed a Memorandum of Understanding with the New Development Bank (NDB) during the NDB’s annual meeting in New Delhi, India.
EBRD President concludes visit of NDB annual meeting in DelhiEBRD President concludes visit of NDB annual meeting in Delhi

03-04-2017 03:20 PM BST EBRD President Sir Suma Chakrabarti has represented the European Bank for Reconstruction and Development at the second annual meeting of the New Development Bank (NDB) in New Delhi, India.

Set up in 2014 to invest in the infrastructure and sustainable development of the #BRICS countries (Brazil, Russia, India, China and South Africa), the NDB is one of the youngest development banks in the world. It is headquartered in Shanghai, China.

During his visit, President Chakrabarti addressed the opening panel of the meeting, which had the theme “Building a Sustainable Future”. He highlighted the growing economic importance of developing countries and the increasingly active role they are playing in shaping the multilateral agenda. President Chakrabarti also stressed the growing role of the private sector in delivering the United Nations Sustainable Development Goals (SDGs) agreed in September 2015.

There is growing recognition that the investment we need to finance the SDGs cannot be delivered by the public sector alone. Importantly, and in a significant shift from the consensus in the past, there is a widespread acceptance that much of this investment will have to come from the private sector,” President Chakrabarti said. He called upon multilateral development institutions to work together even more closely to benefit from each other’s comparative strengths and advantages and to jointly pursue the SDGs and leverage private sector investment.

President Chakrabarti was joined during the opening session by the head of the European Investment Bank, Werner Hoyer, and head of the African Development Bank, Akinwumi Adesina.

NDB President K.V. Kamath acknowledged the assistance that came from other multilateral development banks at the initial stages of establishing the NDB. As EBRD President Chakrabarti noted, this assistance came in the form of advice on strategies and policies, governance, business models, evaluation and procurement, among others.

The NDB and EBRD presidents signed a Memorandum of Understanding between the two institutions, setting out a framework for future cooperation. In the document the institutions agree to collaborate and exchange information in recognition of their mutual goal to foster sustainable development and infrastructure in the emerging markets of their respective regions of operations.

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BRITAIN: The National Living Wage has increased to £7.50 from today giving 30-million Brits over 24- years of age another 0.30p an hour – #AceNewsDesk reports – @AceFinanceNews

#AceFinanceNews – Apr.01: The pay rise takes hold today as the National Living Wage increases to £7.50 an hour …

MetroUK reported that The National Living Wage has increased to £7.50 from today

More than 2 million Brits will benefit from the 30p increase for everyone over 24, where as the National Minimum Wage – for those under 25 – has also risen.

But if you’re 16-17 the increase is worth the same, in real terms, as your salary would have been nine years ago.

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BRITAIN: Pre-payment meter price cap comes into effect to protect vulnerable consumers who were found to be paying more than those using other forms of payment for their energy costs – #AceNewsDesk reports – @AceFinanceNews

#AceFinanceNews – Apr.01: Last June, following a two-year investigation into the energy market, the Competition and Markets Authority (CMA) decided to put in place a temporary price cap to protect some of the most vulnerable households in Britain.

GOVUK reported that Pre-payment meter price cap comes into effect to protect millions of consumers on Saturday in a news story …

The temporary cap is expected to reduce bills across Britain and will save the average household £80 a year. The CMA found that people using pre-payment meters had less choice and were paying disproportionately higher bills than customers paying by other means – including direct debit.

The price cap will remain in place until the end of 2020 when the smart meter roll-out – combined with other changes imposed on the industry by the CMA – is expected to tackle issues that prevent such customers accessing the better deals available to others.

Andrea Coscelli, Acting Chief Executive of the CMA, said:

Households across the UK deserve to get a fair deal on their energy bills.

On top of a number of measures to get competition working better, the CMA’s pre-payment meter price cap means that more than 4 million consumers, many of whom are vulnerable, and who can’t easily shop around for a better deal, will see their bills cut by around £80 a year each, saving British customers a total of £320 million per year.

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#AceBrexitNews – Chile Day Trade Day: Taking place in London in June 2017 as trade and investment between our two nations has never been at a better moment – #AceNewsDesk reports – @AceFinanceNews

#AceFinanceNews – Mar.29: The announcement that Chile Day will take place in London in June 2017 is good for the United Kingdom and is good for Chile – #AceNewsDesk reports …

Trade and investment between our two nations has never been at a better moment in GOVUK on Tuesday a day before #Brexit was triggered with #Article50 this was the News Story advising Chile Day to take place in London in June 2017 /Last week, Chile showed global leadership in convening a Summit of the Pacific Alliance and Mercosur countries to discuss future trade in a changing world. The UK is also an observer of the Pacific Alliance and shares those values with Chile of the importance of free trade and globalisation.

Last week, the Prime Minister highlighted the importance of free trade. In her statement to Parliament about #Brexit, the PM said:

At the same time we will also seize the opportunity to forge our own new trade deals and to reach out beyond the borders of Europe to build relationships with old friends.

The new British Airways flight opens up new possibilities of links between UK and Chile in a global world.

A direct flight opens up real potential for more tourism, more trade, more investment, in both directions. Good for the UK. Good for Chile.

Chile Day offers a significant opportunity for deepening and enhancing our long standing relationship with Chile in trade and other areas.

Britain’s economy is one of the strongest major advanced economies in the world, and we are well placed to face the future. The UK is a great trading nation.

The UK was the second fastest growing economy in the G7 in 2016; and in 2015 we were one of the two fastest growing major advanced economies alongside the US.

International trade and investment has many benefits – it fosters greater competition which spurs innovation and leads to prosperity and excellence.

Free trade has, and will, continue to, transform the world for the better,

Our message to UK businesses, global investors and international partners is clear – the UK is a beacon for open trade and we will continue to be an outward-looking, globally-minded, big-thinking country – a champion for free trade.

This is the seventh version of Chile Day. Each year I have seen it grow with greater strength by increasing the number of participants, addressing big economic issues for both of our countries, enhancing Chile’s profile in the UK, and forging new trade and investment links. We will make this Chile Day the best ever and will create more links for the future.

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