 including exports rebounding, construction investment is forecast to extend its contraction.
“The property market was due for a correction after pre-sales of apartments peaked in 2015, but government regulation is adding to the delay in recovery”, said Stephen Lee, an economist at Meritz Securities in Seoul.
The Construction & Economy Research Institute of Korea said falling construction investment will subtract 0.36 percentage point off 2020 economic growth, and reduce job creation by 72,000. Last week the Bank of Korea, which cut its growth forecast for next year, said it sees construction investment shrinking into 2021.
“Recovery in the sector remains unsure even in 2021 if the government’s policy stance on regulating the property market remains undeterred,” said Hong Junpyo, a fellow at Hyundai Research Institute, who said construction will also be the biggest drag on next year’s growth.
(Updates with revised 3Q GDP in third paragraph.)
--With assistance from Sam Kim.
To contact the reporters on this story: Jiyeun Lee in Hong Kong at jlee1029@bloomberg.net;Jaehyun Eom in Seoul at jeom2@bloomberg.net
To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, Jason Clenfield, Paul Jackson
For more articles like this, please visit us at bloomberg.com
©2019 Bloomberg L.P.A Connecticut law firm has filed a class action shareholder lawsuit in federal court against New Haven's Higher One, a company that offers debit cards to college students around the country.
The lawsuit, filed Tuesday in U.S. District Court in Connecticut, came less than two weeks after the company announced that a regulatory action related to marketing language and lack of disclosures in 2012 and 2013 could become so costly that it could default on $94 million in loans. The loans, which are part of a $200 million line of credit, come due in 2017.
"While we believe that it is probable that we will have a loss related to this regulatory matter," company officials wrote, they said it couldn't predict how expensive it would be, or when it would be resolved. The disclosure was in a Securities and Exchange Commission quarterly earnings report earlier this month.
Lawyers at Goldman, Gruder and Woods in Trumbull, representing a lead plaintiff in Florida, allege that Higher One misled investors in earlier disclosures about its regulatory woes.
The company had earlier disclosed that the Federal Reserve Bank of Chicago was investigating potential violations of the Federal Trade Commission Act during the 10 months Higher One and Cole Taylor bank partnered on a debit card program called the OneAccount, and that the enforcement actions could have a "material adverse effect" on Higher One's business and its financial condition.
But the lawsuit focuses on other assurances Higher One made — that the resolution of an FDIC enforcement action, which cost $11.1 million, was final, and that the company had changed the way it treated its customers.
Higher One spokeswoman Shoba Lemoine said the company has changed its practices drastically in the last two years.
"We've put in a lot more consumer-friendly safeguards. We've dropped a half a dozen account fees. We've made choices a lot easier," she said.
She said she could not elaborate on how penalties stemming from the investigation could risk a default on the line of credit. She said the company had earlier disclosed the investigation, and therefore "we do believe the lawsuit is without merit, and we are going to be defending ourselves vigorously."
Lawyers from Goldman, Gruder and Woods did not return a call requesting comment.
Higher One has agreed to settle a class action suit brought by former student customers over unfair account fees and deceptive marketing practices in 2012 for $15 million, but the agreement is awaiting a judge's approval.
The Federal Reserve of Chicago is not the last regulatory action that could affect Higher One, which had a 14.6 percent profit margin in the first quarter of the year. Higher One has about 1,000 employees.
The U.S. Education Department is working on new regulations on debit cards that are the home for financial aid balances, and although a top executive at Higher One is on the committee, the company wrote: "Several of the views expressed at the first session were unfavorable to certain of our current business practices."
The Consumer Finance Protection Bureau also has asked questions about Higher One's operations, the company has disclosed.Good day my friends! This weekend we had a fruitful Saturday spending time in Mandurah.
We went for morning walk at the Falcon Estuary Road.
Then Mei mei and I enjoyed buidling our lego creation at the Falcon library.
Can you see daddy is having his share of joy too?
In the afternoon, we head straight to the newly open Lakelands shopping centre.
Had great fun experimenting with raibow shadow.
We were in a queue for something special, mummy said the wait would be worthwhile.
It was a caricature of my family!
Thanks Henry, you are such a talented wizard.
This has certainly lighten up my day!
Family is where heart is.When I lived in Montana for three years, I often dreamed of a year round garden full of flowers. It wasn’t until I returned to California that this dream actually came true. I take special pride now that I have flowers blooming even in the lean months of December and January. Then along comes February and my gardens have awakened.
Despite the frosts, drenching rains and excessive winds, there are a vast amount of hardy survivors that weather well in all conditions. I refer to them as my Frosty Friends.
Best of show is my large, beautiful daphne which perfumes my entire entry. It welcomes all my guests in grand style.
Along my sidewalk are cheerful early daffodils, numerous colorful cyclamen, bright pink bergenia, yellow and blue pansies, Spainish bluebells and reticulata iris.
Most of you know about the cyclamens and pansies which can be found in most big box stores. The bergenia, however, is an old fashioned plant which has large rounded evergreen leaves. In February the bright pink cluster flowers appear and are quite showy.
I like to pair Tete-a-Tete daffodils with reticulata irises. They both are miniatures reaching about 5 to 6 inches tall and are used in rock gardens and containers. They are a stunning combination as the bright yellow of the daffodil complements the deep purple of the iris. Behind them I have planted the Spainish bluebells which are slightly taller and create a perfect trio.
I also have hellebores and camellias which have been blooming for well over a month. The hellebores (or Lenton Roses) are perfect for deep shade and provide color where it is sorely needed. They come in several colors with single or double blooms. No garden is complete without them.
As the temperatures eventually rise for spring my “Frosty Friends” will fade. Meanwhile, I will thoroughly enjoy them and next February will be anxiously awaiting their reappearance once more.
The Red Bluff Garden Club Inc. is a member of The Cascade Garden Club, California Garden Clubs, Inc; Pacific Region Garden Clubs, and National Garden Clubs, Inc.&gt; These people can just leave America. That's their option if every state gets on board. If every country gets on board, same deal.

Exactly.   So few people realize how close we are to change.

And the bloated union question is just a distraction. We never had true accountability, during any time period, so why assume all unions would be running perfectly now and especially after the last 40 or so years of known and notable influence capture.  Accountability is blown across the board. That's why there is so much tension.  We have fundamental problems.A coworker took pity on me and gave me a Claratyne, which worked wonders…. for a few hours. I still ended with a couple handfuls of wadded up used tissues (sorry) by the end of the day.  If only they did tradeins on that kind of thing.
Anyway, instead of buying Loratab (which according to this extremely reasonably-priced site is the same as Claratyne), I picked up a box of Lorfast. Will the gods of name-brand medicine rain down their displeasure on me? I sure hope not. They both contain 10mg of loratadine, so I’m guessing it does exactly the same thing.
Cost: $24 for the tablets, eye drops and depilatory cream, which I’m giving a try after all your super helpful feedback – thanks!
I’m sorry that your allergies are acting up! I honestly can’t tell if it’s become normal to me to be stuffy/itchy/tired, or if it’s gone away.??
On the plus side, cute outfits!
It’s definitely normal to me! But it’s SUCH a pain. And annoying for my coworkers to have to listen to me sneeze and sniff all the time.
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