VANCOUVER - A Federal Court judge has dismissed an appeal by a "deeply religious" British Columbia health executive who said he was wrongfully denied employment insurance after being fired three years ago for refusing to get the COVID-19 vaccine. Read this article for free: Already have an account? To continue reading, please subscribe: * VANCOUVER - A Federal Court judge has dismissed an appeal by a "deeply religious" British Columbia health executive who said he was wrongfully denied employment insurance after being fired three years ago for refusing to get the COVID-19 vaccine. Read unlimited articles for free today: Already have an account? VANCOUVER – A Federal Court judge has dismissed an appeal by a “deeply religious” British Columbia health executive who said he was wrongfully denied employment insurance after being fired three years ago for refusing to get the COVID-19 vaccine. Darold Sturgeon was fired as executive director of medical affairs for Interior Health in November 2021 after refusing to get the vaccine based on his Christian beliefs. He applied for employment insurance benefits but was denied due to being fired for “misconduct,” with appeals to two levels of the Social Security Tribunal also failing, leading him to seek a judicial review in Federal Court in August 2023. The ruling says Sturgeon believed the tribunal should have examined his assertion under the Charter of Rights and Freedoms that the term “misconduct” did not apply to his case “because he was exercising his freedom of religion.” Justice William Pentney says “recent, abundant and unanimous case law” defined a specific and narrow role for the tribunal’s appeal divisions, focusing on an employee’s conduct, and not justification for and employer’s policies or compliance with the Charter. The ruling says Sturgeon’s appeal fell “outside the mandate” of the tribunal and he could have challenged Interior Health’s mandatory vaccine police “through other avenues.” Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. These included advancing a Charter claim, lodging a wrongful dismissal suit or labour grievance, or complaining to the British Columbia Human Rights Commission. “The point is, there were other avenues available to pursue the Charter question; this decision does not cut off the only avenue of relief,” the ruling says. It added of Sturgeon, who represented himself, that “no one has doubted that he acted based on his understanding of his religious obligations,” and that he had “ably advanced his arguments.” “However, despite his sincere and thoughtful arguments, the binding jurisprudence requires that I find against him,” the ruling says. This report by The Canadian Press was first published Nov. 26, 2024. Advertisement Advertisement
How major US stock indexes fared Monday, 12/23/2024
Who truly has Beijing’s ear when it comes to economic policymaking? As China navigates a period of profound economic challenges, this question has taken on new urgency. While outsiders often perceive China’s economic policies as dictated in a top-down, insulated manner, the reality is more nuanced. Policy-making in Beijing frequently involves regular engagement with trusted experts through roundtables, study sessions, and advisory committees. The voices shaping economic strategy extend beyond the Chinese Communist Party (CCP)’s inner circle to include a select “brain trust” of economists whose ideas inform and influence key decisions. To understand China’s policy direction, it is crucial to identify this brain trust. Our project does just that by analyzing the perspectives of economists who have become integral to the policymaking process. These figures include chief economists at major financial institutions, respected academics, and former officials with deep experience in economic governance. By examining their insights, we aim to uncover where their views align, where they diverge, and what these dynamics reveal about China’s economic challenges and priorities. We selected these experts based on five dimensions: influence, prominence, rigor, political proximity, and expertise. Together, they offer a window into the intellectual framework underpinning Beijing’s economic decision-making. The debates among these experts shed light on the priorities shaping China’s economic policies and offer insight into the trade-offs Beijing must grapple with. Understanding these voices is critical – not just to predicting China’s next moves but also to grasping the constraints and opportunities within its evolving economic system. By unpacking the perspectives of China’s economic whisperers, we aim to shed light on the most pressing economic policy debates of recent months and delve into the areas where expert opinions converge and diverge. Stabilizing the Present: Monetary and Fiscal Moves The Chinese government has implemented unconventional monetary and fiscal policies in recent months in an effort to stabilize its economy. The People’s Bank of China’s (PBoC) new liquidity facility and the Ministry of Finance’s debt-restructuring plan exemplify a growing willingness to experiment with creative solutions. But are these measures bold enough to address the scale of the challenges? The PBoC’s Securities, Funds, and Insurance Companies Swap Facility (SFISF), launched in September, has drawn significant attention. By allowing financial institutions to swap illiquid securities for treasury bonds and central bank bills, it aims to inject 500 billion yuan into the capital markets. Economists such as Yugen Xun of Haitong Securities have lauded the move as a confidence booster, calling it a decisive signal of the PBoC’s commitment to stabilizing financial markets. Similarly, Yuanchun Liu of Shanghai University of Finance and Economics has interpreted the SFISF as a harbinger of more aggressive monetary interventions. However, foreign investors remain wary. Ziqiang Xing of Morgan Stanley was skeptical, noting that while the facility provides short-term relief, it falls short of the level of monetary expansion deemed necessary by many foreign stakeholders. The Ministry of Finance’s debt-swapping scheme, which aims to restructure 10 trillion yuan in hidden local government debt over five years, has similarly received mixed reviews. While Zhiheng Luo of Yuekai Securities praised it for reducing debt servicing costs and enhancing transparency, critics argued it merely delays a reckoning with the underlying fiscal imbalances. One area of consensus among economists is the likelihood of further monetary easing. Ming Ming of CITIC Securities predicted multiple cuts to the reserve requirement ratio and interest rates in 2025, while Qingyou Guan, an independent economist, advocated slashing mortgage rates to stimulate the real estate market. Ge Wu of Changjiang Securities warned that concerns about the yuan’s depreciation and declining deposit rates might constrain aggressive easing but argued that steady monetary expansions and interest rate cuts are nonetheless indispensable. Fiscal policy, by contrast, has revealed deeper divisions. Tao Wang of UBS supports targeted fiscal stimulus of 1.5–2 trillion yuan to spur growth. Meanwhile, Daokui Li, a former PBoC official, urged restraint, warning that large-scale government spending could jeopardize long-term fiscal sustainability. Shijin Liu, a former deputy director of the State Council’s Development Research Center, offered a compromise, emphasizing that any stimulus must prioritize improving public service quality and promoting equitable urbanization. This debate underscores the tension between addressing immediate crises and maintaining fiscal discipline. Searching for a New Growth Engine China’s economic growth has long relied on real estate, but the collapse of this model has sparked an urgent search for alternatives. The debate among experts centers on three interrelated priorities: systemic reform, technological innovation, and economic openness. Systemic reform is widely regarded as a prerequisite for sustainable growth. Xuetao Song of TF Securities advocated for strengthening corporate rights protections, improving public service quality, and curbing wasteful expenditures. For Xunlei Li of Zhongtai Securities, enhancing the social safety net is particularly urgent. He argued that raising household incomes and expanding access to education and healthcare will not only boost domestic consumption but also create new opportunities in the tertiary sector. Shanwen Gao of Essence International Financial Holdings echoed this view, emphasizing that policies to stimulate consumption are critical for economic rebalancing. Others contend that technology, rather than systemic reform, will drive China’s next growth phase. Justin Yifu Lin, a former World Bank chief economist, and Xiaonian Xu of CEIBS both stressed the need to improve corporate productivity and move beyond reliance on investment-led growth. Former IMF Vice President Min Zhu took this argument further, highlighting the importance of emerging technologies like artificial intelligence (AI), green energy, and data-driven tools in boosting productivity and fostering new industries. Zhu suggested that China could even lead the global transition to sustainable energy and digital economies if it fully embraces technological innovation. A third school of thought prioritizes greater economic openness. Xinli Zheng, a former deputy director of the CCP Central Policy Research Office, has been a vocal advocate for “institutional opening-up,” urging China to align with global regulatory standards and deepen its integration into international trade systems. Jianguo Wei, a former deputy minister of commerce, highlighted the potential of digital trade and agreements like the Digital Economy Partnership Agreement to attract foreign investment and position China as a leader in high-value global supply chains. Navigating the Trump Factor The return of Donald Trump to the U.S. presidency adds another layer of complexity to China’s economic calculus. Trump’s first term saw a historic trade war that slowed China’s growth and disrupted global supply chains. His reelection raises the likelihood of renewed tariffs and heightened protectionism, forcing Beijing to rethink its economic strategy. Economists are divided on how damaging another round of China-U.S. trade tensions could be. Tao Wang estimated that a full-blown global trade war could shave 2 percentage points off China’s GDP – a significant hit for an economy already facing headwinds. However, Zhiwu Chen of HKU Business School noted a potential silver lining. He argued that heightened trade tensions could accelerate China’s pivot from export-driven growth to a domestic consumption model, as the government would be compelled to reallocate resources toward struggling consumer sectors. Most experts agree that Beijing will need to pursue a dual strategy: mitigating short-term risks while diversifying its trade relationships. Strengthening economic ties with Europe, particularly if EU-U.S. relations sour, is viewed as a key avenue for offsetting American protectionism. At the same time, China is likely to offer more favorable terms to foreign investors, as it did with Tesla, to attract the capital needed for domestic growth. Where Experts Diverge – and Why It Matters A striking feature of the current economic debate is the divergence between experts in financial institutions and those with policymaking experience. The former group tends to favor aggressive stimulus and easing measures to address immediate challenges, reflecting the priorities of capital markets. In contrast, academics and former officials often emphasize structural reforms and strategic investments as essential for long-term stability. These differences reflect deeper ideological divides over the role of the state in managing the economy. Should Beijing prioritize short-term interventions to stabilize markets and reassure investors? Or should it focus on building a more resilient economic foundation, even at the cost of slower recovery in the near term? Another source of contention lies in the balance between fiscal and monetary policy. While most agree that monetary easing will play a central role in the short term, the scale and scope of fiscal intervention remain hotly debated. The controversy underscores the challenges of navigating China’s unique economic pressures, where traditional tools may no longer suffice. What China’s Economic Whisperers Reveal About China’s Economy The varied perspectives among China’s leading economists offer a unique lens into the complexities of the country’s economy and its policymaking process. Points of convergence reflect the recognition of shared structural challenges, while divergences expose the competing priorities and uncertainties shaping China’s path forward. Together, these perspectives offer valuable lessons – not just for Beijing but for a global audience grappling with the ripple effects of China’s economic trajectory. The broad agreement on the need for monetary easing highlights a consensus that immediate stabilization is critical. Economists recognize the urgency of addressing liquidity constraints and restoring confidence in markets. This shared perspective underscores the fragility of China’s current economic framework, where even incremental measures like the SFISF are seen as essential lifelines. For policymakers abroad, this serves as a reminder of how interconnected China’s financial stability is with global markets. A wobble in Chinese liquidity sends ripples through supply chains, investor sentiment, and trade flows worldwide. At the same time, disagreements over fiscal policy and long-term growth strategies reflect the difficult balancing act China faces. The debate over whether to prioritize fiscal restraint or stimulus reveals an economy at a tipping point, struggling to reconcile short-term demands with the imperative of structural reform. Divergent views on the roles of systemic change and technological innovation further illustrate the challenge of building a sustainable growth model. For international observers, these debates point to a larger truth: the solutions that propelled China’s rise – heavy investment, real estate expansion, and export dependency – are no longer sufficient. Beijing must innovate within an increasingly constrained global and domestic environment. The divides also underscore the evolving complexity of China’s economic governance. Unlike earlier decades, when a clear policy consensus often emerged swiftly, today’s debates are shaped by diverse and sometimes conflicting views on China’s direction amid structural slowdowns and global headwinds. Economists focusing on market sentiments advocate bold, immediate interventions to reverse low confidence and sluggish recovery, while those with policymaking backgrounds promote more measured, wait-and-see approaches. This fragmentation reflects the complexity within China’s economic system and signals that China’s policymaking, while decisive, is far from monolithic – and that uncertainty is an inherent feature of its economic transition. Finally, the convergence on external risks – particularly the potential fallout from a renewed China-U.S. trade war – reveals a shared acknowledgment of how geopolitics increasingly shapes economic realities. The recognition that diversification and domestic consumption are critical buffers points to a China recalibrating its strategy for a less stable global environment. In the end, the convergence and divergence of China’s economic voices reveal a country navigating one of the most pivotal transitions in its modern history. While China’s decision-making process remains opaque, identifying these debates offers valuable insights into the trade-offs Beijing faces. For policymakers, investors, and analysts worldwide, understanding these dynamics is key to interpreting the complexities of China’s evolving economic strategy.SECP reasserts compliance by listed firms to publish gender pay gap data
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Manchester United criticised over ‘offensive’ price increase for match ticketsNew Report Highlights Piana's Continued Momentum in Leading Sustainability Practices and Successfully Shrinking its Environmental Footprint CARTERSVILLE, Ga. , Nov. 26, 2024 /PRNewswire/ -- Piana Technology , the 442-year-old Italian-made textile company renowned for its innovations in the fiber and nonwovens markets, proudly announced it has published its 2023 Environmental, Social and Governance (ESG) Report. Piana Technology's report is a reflection of the company's continued commitment to building a better future for our planet through an ethical and caring approach to technological growth and application. "2023 has been a year of transformation and growth. We have deepened our commitment to sustainability, not only in our products but in every aspect of our operations," said Andrea Piana , CEO of Piana Technology. "This year, we achieved significant milestones, from reducing our carbon footprint across all facilities to pioneering new technologies that align with our zero-waste vision. Our innovations are driven by a steadfast belief that the future of industry lies in responsible stewardship of our planet's resources." In 2021, Piana Technology established benchmark sustainability metrics that enable the company to reduce its overall organizational, facility, and product-level environmental impact, especially its greenhouse gas (GHG) footprint. Piana Technology's 2023 ESG report highlights the company's tremendous growth in implementing new programs and systems to lessen its impact on all fronts. "At Piana Technology, ESG priorities are at the heart of our mission," said Silvia Galasso , Executive Vice President of Piana Sleep , the bedding division of Piana Technology. "We aim to lead and inspire as we make meaningful improvements in our environmental footprint and the wellbeing of our people." Piana Technology is dedicated to leading change through example, transforming into a business for good, and working with those who share the Piana vision. For more information on Piana Technology's 2023 ESG report, visit: https://www.piana.tech/sustainability About Piana Technology The Piana family's roots began in the textile business in 1582 in Biella, Italy , evolving over centuries to develop innovative solutions in the industry, starting with traditional textile dyeing in 1950 and opening their first American factory in Cartersville, Georgia in 1995. Today, Piana Technology is a multinational company addressing common problems with unique solutions in nonwovens, digital printing, and fiber treatments. Piana provides the hidden technology behind many everyday consumer products—from automotive to home furnishings—replacing conventional materials with socially and environmentally responsible technologies. View original content to download multimedia: https://www.prnewswire.com/news-releases/piana-technologys-annual-environmental-social-and-governance-esg-report-underscores-its-unwavering-commitment-to-sustainability-and-innovation-302316825.html SOURCE Piana Technology
City’s bulk materials pickup: Your questions answeredAston Villa boss Unai Emery described the decision to rule out his side’s last-gasp goal in their Champions League draw with Juventus as “very soft” and has called for consistency from European referees. Morgan Rogers looked to have given Emery’s side another famous win when he slammed a loose ball home in stoppage time, but referee Jesus Gil Manzano ruled Diego Carlos to have fouled Juve goalkeeper Michele Di Gregorio and the goal was chalked off. Contact seemed minimal but VAR did not intervene and Villa had to settle for a point in a 0-0 draw. “With the last action, it is the interpretation of the referee,” the Spaniard said. “In England, 80 per cent of those is given a goal and it’s not a foul. It’s very soft. “But in Europe, it could be a foul. We have to accept. “Everybody will know, in England the interpretation is different. The England referees, when actions like that the interpretation is a clear no foul but in Europe that interpretation is different. “They have to be working to get the same decision when some action like that is coming. I don’t know exactly why but we knew before in the Premier League that it is different. A very controversial finish at Villa Park 😲 Morgan Rogers' late goal is ruled out for a foul on Juventus goalkeeper Michele Di Gregorio and the match ends 0-0 ❌ 📺 @tntsports & @discoveryplusUK pic.twitter.com/MyYL5Vdy3r — Football on TNT Sports (@footballontnt) November 27, 2024 “In Europe for example we are not doing a block like in England and we are not doing in front of the goalkeeper in offensive corners the same situations like in England. “When the action happened, I was thinking here in Europe it’s a foul. In England not, but in Europe I have to accept it. “At first, I thought the referee gave us a goal. In cases like that, it’s confusing because he has to wait for VAR. I don’t know what happened but I think so (the referee changed his mind with VAR).” It was a disappointment for Villa, who remain unbeaten at home in their debut Champions League campaign and are still in contention to qualify automatically for the last 16. “We were playing a favourite to be in the top eight and usually a contender to win this competition,” Emery added. “We are a team who for a long time didn’t play in Europe and the Champions League and this year is very important. “We wanted to play competitive and we are in the right way. Today to get one point is very good, we wanted to win but wanted to avoid some mistakes we made in previous games. “We have 10 points and we’re happy.” Before the game Emery called Juventus one of the “best teams in the world, historically and now”, but this was an Italian side down to the bare bones. Only 14 outfield players made the trip from Turin, with striker Dusan Vlahovic among those who stayed behind. Juve boss Thiago Motta, whose side are 19th but still in contention to reach the top eight, said: “There’s just three games left to qualify. The next home against Man City, then Brugge, then Benfica. “One at a time, as we always did with the goal to qualify for the next round. “In the end we will try and reach our goal which is to go to the next round.”President Bola Ahmed Tinubu has said that he will not be probing Nigeria’s Security Chiefs, saying that he has confidence in what they are doing and will not “disrespect the institution” with the threat of a probe. The President said this in a chat with members of the press on Monday night, where he discussed his administration and governance of Nigeria so far. Tinubu, when asked if he will be probing security chiefs on the prevalent insecurity in Nigeria, said, “I’m not probing any service chief. You cannot disrespect the institution because of threat of probe, and you cannot fight this war without investment in technology, in weaponry.” “They are living and operating in a very serious condition. We have huge country, a very huge one, and lots of forests, unoccupied spaces. Give them credit for what they are doing, I am proud of what they are doing today. No need to probe,” he added. Speaking further on the subject matter of security, Tinubu was asked how he felt about the current state of Nigeria’s security compared to past administrations, to which he responded, “Today, I have confidence in my security architecture of this country.” He went on to say, “Today, you can still travel on the roads. Before now, it was impossible. It takes one incident to mess up an organised environment, it takes one. You cannot say the military is not prepared when the near Brigade Battalion was attacked. You can’t laugh at your nation because of that. The enemies within and without are watching what you are doing. You have to be prepared 100 percent, 24 hours of the time to make sure people are safe. “Today, that is not the story any longer. People can leave Kaduna and still go towards Kafanchan by road. Well, the road may not be that smooth, but gradually, we will be there.” Ozioma Samuel-Ugwuezi Follow us on: