Trump Is Finally Almost Done Resigning From His Businesses -The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

28 April 2017

 

This story was co-published with WNYC(The Total Investment & Insurance Solutions)

At a press conference before he took office, then-President-elect Donald Trump said he had signed paperwork "turning over complete and total control" of his business empire to his sons. His lawyer said the more than 400 businesses would be placed in a trust by Inauguration Day.

Now, nearly 100 days later, he's nearly fulfilled this promise.

President Trump and his daughter, Ivanka, are closing in on removing their names from the one business where they are still listed as managers on state filings.

That business is the Trump SoHo, a hotel and condo tower in lower Manhattan. The company only filed an application in March to remove Trump and Ivanka as managers listed on state liquor licenses. The application is still pending New York's approval.

New York requires companies to register management changes within 10 days. Bill Crowley, a spokesman for the New York State Liquor Authority, said the two-month delay in filing is a violation, but a "common error made by corporations that does not usually result in prosecution" provided state officials receive new documentation "within a reasonable amount of time."

The White House referred all questions about Trump SoHo to the Trump Organization. In a statement, the Trump Organization said "all of the necessary paperwork to remove President Trump from the licenses associated with his businesses was validly filed with the appropriate agencies months ago. Unfortunately, the approval process does not always happen overnight."

We first revealed Trump's failure to transfer control of his businesses on Inauguration Day. Following our story, Trump did start filing the necessary paperwork with states. The Total Investment & Insurance Solutions

Former White House ethics attorneys, both Republican and Democrat, have said even Trump's completed transfer of management duties is far from enough. They say that the president needs to either sell his companies or put them in a blind trust run by an outsider.

"It really doesn't matter if he's listed on these documents or not. It's all part of his efforts to distance himself, but he hasn't sold anything," said Richard M. Painter, a former White House ethics counsel under President George W. Bush and a critic of Trump's trust arrangement. "From an ethics standpoint, it's all about ownership and he's not willing to part with anything."

The Trump SoHo, which is right next to ProPublica's offices, has wrestled with lawsuits and financial troubles ever since Trump announced plans to build it in the 2006 season finale of his reality TV show, "The Apprentice."

The project opened shortly before the financial crisis, leading to sluggish sales. One of Trump's partners in the deal, Felix Sater of the Bayrock Group, was a convicted felon and later a confidential informant who had been imprisoned for stabbing a man in a bar fight. In 2010, Bayrock, another partner, the Sapir Organization and the Trump Organization settled a fraud lawsuit in which condo buyers claimed the sponsors inflated condo sales numbers.

Under Sater and the Sapir Organization (whose founder, Tamir Sapir, died in 2014), the project went into foreclosure. The Los Angeles-based CIM Group then bought a controlling stake. The Total Investment & Insurance Solutions

Trump is no longer a part owner of the condo tower. But the owners still contract with the Trump Organization to manage and market the property. Trump gets 5.75 percent of Trump SoHo's annually operating revenues for that work.

In 2015, according to the federal financial disclosure reports, Trump made $3 million off of the deal. The Total Investment & Insurance Solutions

Five CIM representatives are currently also listed on the liquor license as principals along with President Trump, Donald Jr. and Ivanka.The Total Investment & Insurance Solutions

Emerging trend of 'Build & Sell' model in housing -The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

28 April 2017

 

Housing (The Total Investment & Insurance Solutions)

Three years ago, when Manav Singh, an aviation entrepreneur from Shimla, forayed into real estate with the launch of a mega 100-acre luxury township in the picturesque Auramah Valley, next to popular tourist spot of Naldera in Himachal Pradesh, he was treading on an alien and risky terrain amidst the real estate slowdown. The Total Investment & Insurance Solutions

But today, after successfully selling all the 50 units (apartments, duplex and villas) in the first phase, delivering 85,000 sq ft of residential real estate, he has made a mark with about 50 percent appreciation registered by his RERA-compliant property over the last three years and by establishing an all-new concept of Build & Sell in the housing market. The Total Investment & Insurance Solutions

Singh, promoter of Imperial Realty and Developments Limited, who has now launched the second phase of his township, took to the Build & Sell model as the credibility of developers had hit an all-time low due to large-scale delivery defaults, with buyers shying away from investing in under-construction homes. His strategy paid rich dividends as he could sell all the inventory in the first phase without any marketing costs and simply by word of mouth. The Total Investment & Insurance Solutions

In the present scenario, when the housing sector is severely hit due to the lack of buyers' trust, the Build & Sell model holds significance in restoring the trust of buyers/investors. Today, prospective home buyers don't want to invest in under-construction homes and see their money getting stuck. It is because of this precise reason that there has been a sharp decline in the off-take of under-construction homes. On the contrary, there is a growing demand for ready-to-move homes where buyers don't run the risk of losing their capital. The Total Investment & Insurance Solutions

Moreover, they get what they pay for in terms of space, amenities, specifications and quality. It's here that the Build & Sell model comes handy. In this backdrop, India's largest real estate developer, DLF, is mulling this new model instead of marketing under-construction properties as most of them face long delays and there are issues pertaining to the quality of construction.

The recent enactment of the Real Estate Regulation Act (RERA) may well give the required push to the Build & Sell model as one of the key provisions of the law, cleared by parliament last year, with a May 1 deadline for its notification by states, relates to severe punishment -- including jail terms -- for defaulting on timely completion and delivery of projects. Also, only those projects with prior regulatory approvals can be sold to customers under the new law. The Total Investment & Insurance Solutions

Leading real estate firms, like Mumbai-based Hiranandani and K. Raheja Group and Bengaluru-based Brigade Enterprises, are fine-tuning their development model/strategy, in line with RERA, by making their staff conversant with the provisions of the new act, besides taking the services of RERA-compliance experts to ensure that project approvals and construction happen in accordance with the law.

Key players like DLF have been putting proper systems into place and outsourcing project work to outside professionals and project management consultants. The companies are also deploying technology to speed up construction. Real estate experts believe that sound development strategy and efficient processes are the key to stay on the right side of RERA. This will also prove to be enabling framework for the Build & Sell model. The Total Investment & Insurance Solutions

Today, the model has assumed greater significance as the earlier practice of developers raising construction finance from property buyers before required regulatory permissions were in place has been banned under RERA. Even 70 percent of construction-linked payment received from customers has to be put in a project-specific escrow account and cannot be deployed in any other project.

However, there are various hurdles before this model, including expensive land acquisition. Since land forms a major part of the project cost, for adopting Build & Sell model, it is desirable that the developer has land with him or, alternately, entering into partnership with land owner would come handy. Especially as there is no bank funding available for land and bank funding for real estate projects doesn't come easily. The Total Investment & Insurance Solutions

A reputed developer, with credibility and good track record, stands a better chance of adopting this model as he has greater access to funding, including cheaper bank funding. The success of this model will also largely depend on significantly reducing the development cycle by using technology and by better project monitoring and project management and in turn bringing down the project cost.The Total Investment & Insurance Solutions

US Economic Growth Weakened To 0.7 Percent In First Quarter -The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

28 April 2017

U.S. economy (The Total Investment & Insurance Solutions)         

The U.S. economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. The result underscores the challenge facing President Donald Trump in achieving his ambitious economic growth targets.

The gross domestic product, the total output of goods and services, grew by just 0.7 percent in the first quarter following a gain of 2.1 percent in the fourth quarter, the Commerce Department reported Friday.

The slowdown primarily reflected slower consumer spending, which grew by just 0.3 percent after a 3.5 percent gain in the fourth quarter. It was the poorest showing in more than seven years.

Economists attributed the sharp slowdown in consumer spending to shrinking utility bills due to warmer weather, a drop-off in auto sales and a delay in sending out tax refund checks by the IRS, which also dampened spending. The Total Investment & Insurance Solutions

Sal Guatieri, senior economist at BMO Capital Markets, said he expected consumer and government spending to bounce back, leading to a much stronger second quarter.

"Still, the report will mark a rough start to the administration's high hopes of achieving 3 percent or better growth, not the kind of news it was looking for to cap its first 100 days in office," Guatieri said in a note to clients. The Total Investment & Insurance Solutions

Averaging the two quarters, they forecast growth of around 2 percent for the first half of this year. That would be in line with the mediocre performance of the eight-year economic expansion, when growth has averaged just 2.1 percent, the poorest showing for any recovery in the post-World War II period.

Trump repeatedly attacked the weak GDP rates during the campaign as an example of the Obama administration's failed economic policies. He said his program of tax cuts for individuals and businesses, deregulation and tougher enforcement of trade agreements would double growth to 4 percent or better.

In unveiling an outline of the administration's tax proposals on Wednesday, Treasury Secretary Steven Mnuchin said he believed growth above 3 percent would be achievable.

Private economists are more skeptical. They are forecasting growth of this year around 2.2 percent. That would be an improvement from last year's 1.6 percent, the weakest showing in five years, but far below Trump's goal. Many analysts believe that the impacts of Trump's economic program will not be felt until 2018 because they are not expecting Congress to approve some version of Trump's tax program until late this year. The Total Investment & Insurance Solutions

The GDP report released Friday was the first of three estimates the government will make of first quarter growth. The Total Investment & Insurance Solutions

The 0.7 percent increase was the worst showing since GDP contracted by 1.2 percent in the first quarter of 2014. The Total Investment & Insurance Solutions

In addition to warmer weather holding back spending on utility bills, the slowdown also reflected a cutback in restocking of store shelves. The slowdown in inventory rebuilding cut nearly a percentage point from growth in the first quarter. Also acting as a drag was a reduction in government spending, which fell at a 1.7 percent annual rate with both the federal government and state and local governments seeing cuts.

On the positive side, business investment rose at a 9.4 percent rate, helped by a record surge in spending in the category that tracks spending in the energy sector. This category had seen sharp cutbacks in recent quarters, reflecting reductions in exploration and drilling as energy prices declined.

In recent years, the first quarter has often turned out to be the weakest for the year, reflecting in part problems the government has not been able to resolve in adjusting its figures for normal seasonal changes. The Total Investment & Insurance Solutions

The Bureau of Economic Analysis, which prepares the GDP report, has a three-year program aimed at addressing this problem, which has been particularly problematic in the first quarter. Analysts say that lingering issues in this area may artificially hold down Friday's initial GDP estimate for the first quarter.

Many economists believe growth in the current April-June quarter will rebound to a rate of 3 percent or better as consumer spending, which accounts for two-thirds of economic activity, regains momentum.

"There are a lot of tailwinds behind consumers going into the spring, including low unemployment, better wage growth, high consumer confidence and record stock prices," said Mark Zandi, chief economist at Moody's Analytics. The Total Investment & Insurance Solutions

Job growth was strong in January and February before slowing in March, and the unemployment rate is at a nearly decade-low of 4.5 percent.

Trump noted the weak 2016 GDP performance in a tweet Wednesday and contended that "trade deficits hurt the economy very badly." For the first quarter, trade was actually a small positive after a major drag in the fourth quarter. The Total Investment & Insurance Solutions

Part of the problem for the administration is that its efforts to boost the economy are coming after the economic expansion has been underway for nearly eight years. At this point in a recovery, stimulus measures tend to have less impact. The Federal Reserve, in fact, has begun raising interest rates to ensure that the tight job market doesn't trigger high inflation pressures.

For now, analysts say they think Trump's stimulus efforts and the Fed's gradual tightening can co-exist. Yet they also caution that the Fed may eventually raise rates to a point where they will begin to constrain growth, making it harder for Trump to achieve his GDP goals.The Total Investment & Insurance Solutions

Nifty, Sensex may give up some gains - Thursday closing report-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

27 April 2017

I have mentioned in Wednesday’s closing report that Nifty, Sensex to push higher. The equity markets indices ended with minor loses, holding tight above the 30,000 and 9,300 marks. The trends of the major indices in the course of Wednesday’s trading are given in the table below: The Total Investment & Insurance Solutions

 

Major Indices (The Total Investment & Insurance Solutions)

Profit booking after three-day gains pushed the key benchmark indices modestly lower after scaling record highs in intraday trade. The S&P BSE Sensex fell 103.61 points or 0.34% to settle at 30,029.74. The Nifty 50 index fell 9.70 points or 0.10% to settle at 9,342.15. The Sensex ended a tad above the psychologically important 30,000 mark after briefly sliding below that level in late trade. Selling in index pivotals, ITC and HDFC weighed on indices as domestic bourses remained in negative zone for most part of the day.

Kotak Mahindra Bank rose 1.58% to Rs914.55 after net profit rose 40.34% to Rs976.48 crore on 9.85% rise in total income to Rs5434.65 crore in Q4 March 2017 over Q4 March 2016. Kotak Mahindra Bank's non-performing assets (NPAs) stood at Rs3578.61 crore as on 31 March 2017 as against Rs3177.88 crore as on 30 December 2016 and Rs2838.11 crore as on 31 March 2016. The ratio of gross NPAs to gross advances rose to 2.59% as on 31 March 2017 as against 2.42% as on 31 December 2016 and 2.36% as on 31 March 2016. The ratio of net NPAs to net advances increased to 1.26% as on 31 March 2017 as against 1.07% as on 31 December 2016 and 1.06% as on 31 March 2016. The Total Investment & Insurance Solutions

Maruti Suzuki India fell 0.56% to Rs6,371.15. The company's net profit rose 15.8% to Rs1709 crore and net sales grew by 20.3% to Rs18005.20 crore in Q4 March 2017 over Q4 March 2016. Growth in volumes, increase in share of the company's higher segment models, benefits due to full capacity utilization and cost reduction efforts contributed to increase in profits. This was partially offset by increase in commodity prices and adverse forex movement.

IT major Infosys was up 1.08% at Rs923.95 after the company announced that it has launched Infosys Nia-the next generation integrated artificial intelligence platform. The announcement was made after market hours yesterday, 26 April 2017. The product was launched building on the success of the company's first-generation AI platform, Infosys Mana, and its Robotic Process Automation (RPA) solution, AssistEdge. Together, both these products have amassed 50 plus clients and 150 plus engagements across all industry sectors, within a year of operations.

The top gainers and top losers of the major indices are given in the table below:

 

Top Gainer (The Total Investment & Insurance Solutions)

Overseas, European stocks fell for the first session in nearly a week as investors reacted to a mixed set of regional corporate earnings and prepared for what could be a pivotal policy meeting from the European Central Bank later in the session. Asian shares ended on a mixed note. The Bank of Japan (BoJ) raised its economic forecasts at its policy meeting outcome today, 27 April 2017, but it kept policy steady, as was widely expected. The BOJ raised its economic assessment. It increased its real gross domestic product (GDP) forecast for the 2017-18 fiscal year to 1.6% from the 1.5% projected in January. But it lowered its core consumer price index (CPI) growth forecast to 1.4% from 1.5% in the same period.

In US, stocks ended lower as investors analysed details of US President Donald Trump's highly-anticipated tax reform plans. The Total Investment & Insurance Solutions

The closing values of the major Asian indices are given in the table below:The Total Investment & Insurance Solutions

Asian Indices (The Total Investment & Insurance Solutions)

Indian firms expect moderate economic expansion in 2017: Survey-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

27 April 2017

Driven by positive economic sentiment, more than three-fourths (77 per cent) of senior finance executives of Indian companies expect moderate to substantial economic expansion in 2017, a survey said here on Thursday. The Total Investment & Insurance Solutions

The survey - Global Business & Spending Outlook - commissioned by American Express and conducted by Institutional Investor Custom Research Lab, states that Indian companies are expected to increase their spending and investment in the market place with 67 per cent of Indian companies looking at focusing on spending and investment to support top-line growth while improving profitability this year. The Total Investment & Insurance Solutions

The survey further revealed that about 37 per cent Indian finance executives expect their company's level of spending and investment to increase by over 10 per cent as compared to only 24 per cent global executives, pointing towards Indian executives' better preparedness at increasing their spending and investment as compared to their global counterparts.

"Indian companies are expected to increase their spending and investment this year which is backed by positive economic sentiment. With focus on optimising resources and efficiently managing spends across categories, India Inc. is headed towards a conducive growth chart," said Saru Kaushal, Vice President and General Manager, Global Corporate Payments, American Express. The Total Investment & Insurance Solutions

Indian executives are twice as likely to cite hardware and infrastructure as their top IT priority, compared with their global counterparts. According to 30 per cent of executives from India, compared to 13 per cent global and 14 per cent executives in Asia and Australia, hardware and infrastructure will be top most priority for companies. 

According to the survey, nearly half (47 per cent) of the Indian executives expect exports to become important for their company's growth in 2017.

The survey revealed that according to 67 per cent financial executives from India, pressure on their company to compete on the quality of its customer service has increased substantially. India leads when compared to the responses gathered from global (50 per cent) and Asia and Australia (44 per cent) markets for the same parameter.The Total Investment & Insurance Solutions

Kia forays into India, first plant to come up in Andhra-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

27 April 2017

Making a foray into the Indian market, South Korean auto major Kia Motors on Thursday said it will set up a car manufacturing plant in Andhra Pradesh with an investment of $1.1 billion.

The plant, Kia's first in India, will come up in Penugonda in Anantapur district and produce three lakh cars a year. The Total Investment & Insurance Solutions

The work on the facility will start towards the end of 2017 and the production is expected to commence in the second half of 2019. The Total Investment & Insurance Solutions

The company on Thursday signed a memorandum of understanding (MoU) with the Andhra Pradesh government in the presence of Chief Minister N. Chandrababu Naidu.

"Kia plans to produce a strategic compact sedan and compact SUV especially for the Indian market at the new plant, which will occupy around 23 million square feet and incorporate facilities for stamping, welding, painting and assembly. The site will also be home to numerous supplier companies' facilities," said a company statement.

The state government has allotted 600 acres of land for the plant, which will provide direct employment to 10,000 people. The Total Investment & Insurance Solutions

According to the Korean car market, India presents an opportunity for further sustained growth in the fifth largest new car market in the world.

"It will enable us to sell cars in the world's fifth largest market, while providing greater flexibility for our global business. Worldwide demand for Kia cars is growing and this is our latest step towards becoming a leading global car manufacturer," said Han-Woo Park, President of Kia Motors. The Total Investment & Insurance Solutions

Kia plans to commence local sales of cars produced at the new facility towards the end of 2019, once mass production begins in Anantapur.

It said the region's fast-developing supply chain network and skilled labour force were other key reasons for the new investment. The Total Investment & Insurance Solutions

The firm earlier scouted others states like Tamil Nadu, Maharashtra, Gujarat, Madhya Pradesh and Telangana but preferred Andhra Pradesh.

The company said construction of a new manufacturing facility in India will enable it to maintain its position as one of the world's fastest-growing automobile brands.

With this the company will start selling its models in India, and benefit from further sustainable sales growth, locally and internationally.

India is the fastest growing major new car market and the fifth largest in the world, with more than 3.3 million new cars sold in 2016.

Forecasts suggest the country will become the third-largest car market by the end of 2020, it added. The Total Investment & Insurance Solutions

Founded in 1944, Kia Motors is Korea's oldest manufacturer of motor vehicles and manufactures over three million vehicles a year at 14 manufacturing and assembly operations in five countries. The vehicles are sold in 180 countries. The Total Investment & Insurance Solutions

Kia has over 51,000 employees worldwide and annual revenues of over $45 billion.The Total Investment & Insurance Solutions

RBI to issue new Rs 5 and Rs 10 coins-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

27 April 2017

The Reserve Bank of India (RBI) on Wednesday said that it will soon issue new Rs 10 and Rs 5 coins in circulation. The Total Investment & Insurance Solutions

According to the RBI, the central government has minted new Rs 5 coins to commemorate the "150th Anniversary of Allahabad High Court" and Rs 10 coins on the occasion of "One Hundred Twenty-fifth Year of National Archives of India".

Besides, the Reserve Bank said that the existing Rs 5 and Rs 10 coins shall continue to be legal tender even after the issue of new coins.

The apex bank said that the reverse side of the Rs 5 coin shall bear the image depicting "Centre facade of Allahabad High Court Building emerging from the book". 

"The year 1866-2016 in English numerals shall be written at the bottom of the image," the RBI said in a statement. The Total Investment & Insurance Solutions

It said that Rs 10 coins' reverse side shall bear the image of "National Archives Building" in the centre. The Total Investment & Insurance Solutions

"A logo of 125th Anniversary Celebration shall exist at the centre and above the image of 'National Archives Building'. The year 1916 and 2016 in international numerals shall be written respectively on left and right top of the image," the statement said.The Total Investment & Insurance Solutions