overhaul | Common News Update

May72020 by adminNo Comments

Huntington Ingalls nabs $187.1M for overhaul of USS John C. Stennis

Business

May 6 (UPI) -- Huntington Ingalls was awarded a $ 187.1 million contract modification Wednesday for the refueling complex overhaul of USS John C. Stennis, according to the Pentagon. The Stennis the seventh Nimitz-class nuclear-powered supercarrier in the United States Navy and is currently docked at Naval Station Norfolk in Virginia. The deal, which modifies a contract awarded in 2018, funds continued advance planning efforts including material forecasting, long lead time material procurement and pre-overhaul tests and inspections on the ship, with an expected completion date of January 2021. This contract was awarded as the result of a sole-source acquisition, citing a clause in U.S. code that waives federal competition requirements if the property or services are available from only on...

Apr12020 by adminNo Comments

Coronavirus: Sunak to overhaul SME loan scheme

Business

The chancellor is preparing to unveil an overhaul of his emergency aid scheme for small businesses (SMEs) amid warnings about a deluge of insolvencies as companies struggle to access funds from a banking system creaking under the COVID-19 crisis.Sky News has learnt that Rishi Sunak will announce in the coming days that a key feature of the Coronavirus Business Interruption Loan Scheme - the requirement for banks to first assess whether SMEs are eligible for their other lending options - will be removed. Mr Sunak and his officials at the Treasury are understood to have been in talks with the participating lenders, which include high street giants such as Barclays, HSBC, Lloyds Banking Group and Royal Bank of Scotland, on Wednesday. Image: A coron...

Feb112020 by adminNo Comments

Trump wants to extend his tax overhaul. What it means for you

Finance

Donald TrumpCarlo Allegri | ReutersThe new tax law, which took effect in 2018, trimmed individual income tax rates across the board, lowering the top rate to 37% from 39.6%.The standard deduction was also increased to $ 12,000 in 2018 from $ 6,350 in 2017 (and it rose to $ 24,000 from $ 12,700 for married-filing-jointly). Certain itemized deductions for taxpayers were limited, as well.Don't redraft your tax plans just yet. Democrats control the House of Representatives, which means the president's budget will run into plenty of opposition."Just six months ago, the president signed a bipartisan two-year budget deal into law, but now the president is apparently going back on his word," said Rep. John Yarmuth, (D-Ky.) chairman of the House Committee on the Budget."The long-term bet is that ta...

Jan152020 by adminNo Comments

Russia’s PM and govt resign as Putin plans constitution overhaul

World

Russia's government has resigned to allow President Vladimir Putin to make sweeping constitutional changes which could allow him to remain in power after his current term.The 67-year-old has been in the top job for 20 years, longer than any other Russian or Soviet leader since Josef Stalin. Prime Minister Dmitry Medvedev quit hours after Mr Putin proposed a reform of powers of parliament and the cabinet. Image: Vladimir Putin said Dmitry Medvedev (R) would take up a new position as a deputy head of the presidential Security Council Mr Putin thanked his close ally for his contribution and asked his cabinet to keep working until a new one is formed.The president also said he would appoint Mr Medvedev - who had been PM since 2012 - as de...

Sep262019 by adminNo Comments

Bernie Sanders wants to overhaul the nation’s credit reporting system. Here’s how

Finance

2020 Democratic U.S. presidential candidate and U.S. Senator Bernie Sanders speaks during a campaign event in West Branch, Iowa, August 19, 2019.Al Drago | ReutersThere could be a new factor to your credit score: the president of the United States.Independent candidate Bernie Sanders wants to eliminate the private credit reporting companies and substitute them with a government-managed credit registry. The proposal was released over the weekend and, at the same time, Sanders announced his plan to erase $ 81 billion in past-due medical debt, one of the main issues dogging Americans' credit reports today.Sen. Sanders, I-Vt., says the public credit registry would be housed in the Consumer Financial Protection Bureau, the agency created in 2011 to protect Americans from predatory lenders in th...