RBNZ Mulls Further Delay In Bank Capital Review Implementation

Trump Refuses to Commit to Peaceful Power Transfer Post-Election

President Donald Trump on Wednesday wouldn’t commit to a peaceful transfer of power if a tally of ballots shows Democrat Joe Biden wins the November election.

“We’re going to have to see what happens,” Trump said in response to a reporter’s question at a White House news conference. “You know that I’ve been complaining very strongly about the ballots, and the ballots are a disaster.”

Trump has been criticizing the legitimacy of mail-in voting, which is being offered in a number of states as officials seek to limit the spread of the coronavirus at packed polling places.

The president has repeatedly claimed without evidence that mail-in voting is more susceptible to fraud than in-person voting on Election Day. Lawyers representing Trump’s campaign are challenging mail-in voting rules in several states.

“Get rid of the ballots and you’ll have a transfer — a very peaceful, there won’t be a transfer, frankly,” Trump said on Wednesday. “There’ll be a continuation. The ballots are out of control, you know it. You know who knows that better than anybody else? The Democrats know that better than anybody else.”

Trump is trailing Biden in national polls and in key states.

Qantas Sells Fully-Stocked Bar Carts as Covid Grounds 747 Fleet

Qantas Airways Ltd. is salvaging almost anything to get through the pandemic. Now it’s peddling $1,000 loaded bar carts after stripping them from grounded planes.

The airline isselling 1,000 carts taken from Boeing Co. 747s before the jumbos were retired early as the virus halted overseas travel. Delivered to your home, a stocked, full-size cart is going for $1,474.70 ($1,043). A half cart costs A$974.70.

Qantas has already sold 10,000 sets of pajamas, all snapped up within a few hours, and is also selling tickets for sight-seeing flights around Australia. The airline is cutting as many as 8,500 jobs, and this month said it may move its Sydney headquarters to another city as part of a cost review.

Each cart typically has 2,000 flights under its belt. They go on sale Thursday through the airline’s frequent-flyer wine business. A half cart includes:

  • 40 mini bottles of white wine, 40 mini bottles of red wine and 1 bottle of Champagne
  • 2 business class amenity kits and 2 sets of pajamas
  • 1 first-class rug

North Korea shot, cremated missing South Korean man: South Korea military

SEOUL (Reuters) – North Korea shot and cremated a missing South Korean man, South Korea’s military said on Thursday, condemning and demanding punishment for those responsible.

The military confirmed news reports that a South Korean fisheries official was shot dead by North Korean troops after attempting to defect across the maritime border.

Louisville police say officer shot as protests grow over lack of charges in Breonna Taylor’s death – The Denver Post

LOUISVILLE, Ky. — Louisville police say officer has been shot as protests grow over lack of charges for officers in Breonna Taylor’s death.

This story is breaking news and will continue to be updated

Salford crash: Two dead and three injured as high speed police chase goes HORRIBLY wrong

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The collision happened after speeding car was pursued by a police unit on Frederick Road around 11.40pm on Wednesday.

The car crashed with two other vehicles during the chase.

China bans two Australian 'anti-China' scholars from entering China – Global Times

(Reuters) – China has banned two ‘anti-China’ Australian scholars from entering the country, the Global Times newspaper reported on Thursday citing unnamed sources.

The Global Times, published by the ruling Chinese Communist Party’s official People’s Daily newspaper, identified the scholars on its Twitter account as Clive Hamilton and Alex Joske. It did not elaborate on why these two scholars were banned from entering China.

RBNZ Mulls Further Delay In Bank Capital Review Implementation

The Reserve Bank of New Zealand is set to consider whether to postpone further the capital review of local banks after the stress test revealed that banks can draw on their buffers to meet customers’ need during challenging economic times.

In December 2019, the central bank had decided to delay the implementation of capital review, including the proposed increase in capital requirement, until at least July 1, 2021. The RBNZ said it will be considering over the months ahead whether further delays are warranted.

The current events underscore the importance of banks building strong capital buffers. Banks would be in a stronger position to withstand worsening economic conditions if they had been implemented prior to this downturn.

“The onset of the COVID-19 pandemic provides a stark reminder to us all of the importance of being prepared for the unexpected, especially when you are a systemically important bank at the core of New Zealand’s financial system,” Deputy Governor Geoff Bascand said.

The more capital a bank holds, the better it can weather economic storms and meet customer needs during tough times like now, Bascand added.

The stress test noted that capital ratio of banks would fall below the regulatory minimums if they face 1 in 200 year event. However, all banks would show above regulatory minimum capital under pessimistic baseline scenario that characterize one in 50 to 75 year event.