Federal regulators have lifted the consent order that Lake Shore Savings Bank operated under for nearly two years, achieving a long-sought goal of the bank's CEO, Kim Liddell. The lifting of the order frees the Dunkirk-based bank from a host of additional restrictions the bank was required to follow, including the approval of the hiring of officers. "It allows us to be forward thinking, not looking over our shoulder, worried about what the regulator may or may not say about our business plan," Liddell said. "And we can get back to being a community bank and not feeling like you're working for the regulator." For the bank's employees, shareholders and board, the lifting of the order "is a relief," Liddell said. "It kind of reinforces all the hard work and effort it's taken to get to this point." The Office of the Comptroller of the Currency announced the consent order in February 2023, citing "unsafe and unsound business practices" at Lake Shore, but finding no issues with the bank's financial health. Kim Liddell was brought in to right the ship as president and CEO at Lake Shore Savings Bank after the Dunkirk-based financial institution was slapped with a consent decree by federal regulators in February 2023. The parent of Dunkirk-based Lake Shore Savings Bank has agreed to restrictions on executive appointments, severance pay and some other areas, under an agreement with the Federal Reserve Bank of Philadelphia. Liddell came aboard as president and CEO two months later. He identified getting the bank out from under the consent order, by satisfying regulators' requirements, as his top priority. The consent order directed the bank to fix deficiencies related to information technology security, risk governance, management oversight and anti-money-laundering efforts. The OCC had also labeled Lake Shore as in "troubled condition" as result of those deficiencies. That designation was also removed with the lifting of the consent order. Under Liddell, the bank added and filled newly created executive roles to strengthen its management team. He had previously guided a different bank through the lifting of a consent order. "It's a lot easier if you've been through it and you have the experience and you know what they're looking for you to do," Liddell said. Dissatisfied with the level and pace of improvement at Lake Shore Savings Bank, federal banking regulators turned up the heat significantly by issuing a cease-and-desist consent order against the bank for “unsafe and unsound” banking practices. Lake Shore had acknowledged that it had "experienced a data security incident" in November 2021 that "prevented employees from accessing internal systems and data for a limited period of time." A subsequent investigation found "unauthorized access to certain data," but no impact on the bank's core systems and "no evidence that customer personal information was misused," according to a document the bank filed with the Securities and Exchange Commission. The OCC and the bank came to a written agreement in summer 2022, but the OCC later found the bank in “substantial noncompliance” with that agreement, which led to the consent order in 2023. Lake Shore has six branches in Erie County and four branches in Chautauqua County. Last summer, Liddell entered into a new employment agreement with Lake Shore, with an initial term of three years. "I like the area, I like the people, the communities," he said. "I'm having fun." Matt Glynn The business news you need Get the latest local business news delivered FREE to your inbox weekly. Reporter {{description}} Email notifications are only sent once a day, and only if there are new matching items.New research shows restaurant chains and food concepts are helping shopping malls regain their footing, driving consumers to the once-struggling spaces. The data from Yelp shows restaurants have become a driving force in this ever-changing retail landscape, helping to catapult visitor numbers above pre-pandemic levels at malls. Shoppers grab a bite to eat and then spend their money at various businesses before and after they dine out — creating a bounce-back effect for what has often been dubbed a "struggling industry." Days of packed shopping malls are beginning to return, but they look a bit different than what we were used to in the 1990s and early 2000s. RELATED STORY | Retailers say they're ready for potential Trump tariffs Take a drive past or step foot near Great Northern Mall in Ohio and you'll be greeted by one restaurant after the next. More are on the way, including a Texas Roadhouse in the near future. "Five times more traffic," Tony Ke, the owner of TJ Hibachi and Sushi said. Ke said through the ups and downs of the coronavirus pandemic, and many folks opting for online shopping over the years, things are finally turning around. He said business is booming with five times more traffic in the mall food court than in years past. "It's really getting better and better," Ke said. And he's not alone. Scripps News Cleveland followed through and spoke with Beverly Bolton, owner of Fortune's Cookies. The self-proclaimed community baker and Cleveland-area mom took a gamble, opening her first brick-and-mortar inside Great Northern a year ago. "It's been an adventure, but better than I expected," Bolton said. The local cookie shop has become so popular that she's been scouted to fill that nostalgic mall cookie void. "We've had some other malls approach us. Actually, use the space where Mrs. Fields used to be in," Bolton said. RELATED STORY | Big Lots continues some store closures as its bankruptcy proceeds Placer.AI reports shopping malls — whether it be open-air concepts or traditional malls like Great Northern — are on the rise again in 2024. The organization that tracks retail foot traffic reports the primary reason is restaurants and food concepts in malls. They are up 7% from 2019 to 2024. Yelp recently released a report of the top 25 mall brands, and 17 of the top 25 mall brands are restaurant chains: Food concepts are a driving force as well. This includes Filipino, Vegan and specifically Bubble Teas —which are up 100% over the last five years, according to Yelp. Michael Goldberg, a professor in the Department of Design Innovation at the Weatherhead School of Management at Case Western Reserve University, said a generation that has virtually lived online plays a critical role in the process. "Many Americans, particularly younger Americans, are focused on experiences and nothing is better than sharing food with friends," Goldberg said. Young social media influencers are eating food on camera, providing reviews and driving people to dive in and try the food. The TikTok generation has given a major boost to once-struggling brands and revived them tenfold. Case in point: Chili's Triple Dipper. "The thought that Chili's is back and being driven by influencer videos on TikTok is quite fascinating and, you know, I mean, there is a nostalgia for brands," Goldberg said. Localized community programming and holiday events like pictures with Santa are a mainstay at malls like Great Northern. Lori Weidleman, who has been cranking out pretzels at Auntie Anne's since 1997, said change is constant. However, she added it's become apparent people will pay for a quality product that takes them back to a special moment in life. "Ohio's doing really good. We're strong and beating our goals and our targets. And it's multi-generational interest," Weidleman said. This story was originally published by Mike Holden at Scripps News Cleveland .{ "@context": "https://schema.org", "@type": "NewsArticle", "dateCreated": "2024-12-15T17:20:57+02:00", "datePublished": "2024-12-15T17:20:57+02:00", "dateModified": "2024-12-15T17:20:55+02:00", "url": "https://www.newtimes.co.rw/article/22602/news/technology/digital-transformation-poised-to-transform-tax-administration-experts", "headline": "Digital transformation poised to transform tax administration – experts", "description": "Leveraging digital technologies to boost tax collection, combat tax fraud and evasion, and enhance international cooperation to address cross border tax...", "keywords": "", "inLanguage": "en", "mainEntityOfPage":{ "@type": "WebPage", "@id": "https://www.newtimes.co.rw/article/22602/news/technology/digital-transformation-poised-to-transform-tax-administration-experts" }, "thumbnailUrl": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/15/66508.jpeg", "image": { "@type": "ImageObject", "url": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/15/66508.jpeg" }, "articleBody": "Leveraging digital technologies to boost tax collection, combat tax fraud and evasion, and enhance international cooperation to address cross border tax challenges is critical in an evolving tax landscape. These were sentiments from tax experts, policymakers and scholars gathered in Kigali for a conference on the future of tax administration in the digital age. The two-day conference, hosted by the Rwanda Revenue Authority (RRA) and the International Centre for Tax and Development (ICTD), concluded in Kigali this week under the theme 'Towards a digital tax administration: lessons learned and directions for reform.' RRA Commissioner General, Ronald Niwenshuti, said that digital transformation in tax administration is inevitable. As the global landscape evolves, so must the systems, strategies and policies, ensuring they remain inclusive, efficient and resilient, since digital transformation is the cornerstone of modern tax administration, Niwenshuti said. ALSO READ: RRA cracks whip on businesses snubbing electronic invoicing system The Commissioner General also noted that digital tools are not only enablers, but have also proven to be catalysts for trust-building, improved service delivery as well as sustainable revenue growth. Rwanda is already leveraging technology to modernise its tax administration, improving efficiency and effectiveness. In 2011, the country launched the electronic tax system, transforming tax filing and payments processes by reducing errors and lessening administrative burdens. In 2013, the introduction of the Electronic Billing Machines (EBMs) enhanced Value Added Tax (VAT) compliance and helped in curbing evasion and was later upgraded to offer real-time data capture and enhance fraud prevention. ALSO READ: FEATURED - RRA launches nationwide campaign to promote EBM usage The reforms, according to the taxman, have yielded an increase in VAT and income tax collections and enhanced compliance. Domestic revenue now funds over 54 per cent of the national budget, aligning with national strategies including Vision 2050 and the National Strategy for Transformation, Niwenshuti said. According to Antoine Sebera, Government Chief Innovation Officer at the Rwanda Information Society Authority (RISA), achieving a robust digital tax administration is possible, but the journey is not without challenges. Data availability and data quality is a big challenge. Organisations struggle with fragmented and incomplete data, making it difficult to track and access digital transactions accurately, he said, adding that data interoperability and establishing secure data sharing mechanisms are critical steps that must be prioritised to overcome this challenge. Sebera also emphasised the need for capacity building to enable the proper use of Artificial Intelligence tools in tax administration. Some administrations still lack infrastructure and technical expertise needed to deploy advanced tools for monitoring, analysing and enforcing tax compliance in the context of a digital economy, he said, adding that building capacity in data analytics, artificial intelligence (AI) and cybersecurity is essential to overcome these obstacles. According to experts, AI has the potential to revolutionise digital tax administration and governance by improving the efficiency and effectiveness of tax systems. In advanced markets, AI tools are being used to help identify patterns of tax evasion, optimise resource allocation and provide real time support to taxpayers. However, according to Sebera, governments need to ensure that the use of AI is within the confines of legal and ethical guidelines. Ethical and regulatory concerns, such as data privacy, algorithmic biases and accountability, cannot be overlooked. Governments must develop robust legal frameworks and ethical guidelines to govern the use of AI in public administration, he said. Experts at the conference also discussed emerging practices such as digital public infrastructure (DPI), which is increasingly becoming a promising framework to streamline tax processes and promote inclusivity.", "author": { "@type": "Person", "name": "Tesi Kaven" }, "publisher": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/", "sameAs": ["https://www.facebook.com/TheNewTimesRwanda/","https://twitter.com/NewTimesRwanda","https://www.youtube.com/channel/UCuZbZj6DF9zWXpdZVceDZkg"], "logo": { "@type": "ImageObject", "url": "/theme_newtimes/images/logo.png", "width": 270, "height": 57 } }, "copyrightHolder": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/" } }j 777 。

Music fans should be easy to shop for this holiday season, right? Wrong! What do you pick up for the friend who knew about that rapper months before the rest of the world? What about the audiophile, whose listening habits are particular and immovable? Your sister loves Taylor Swift, but surely she already owns everything the pop star has ever released, right? Here's a gift guide for the audio lover in your life — from a can't-miss box set for the Elvis Costello obsessive to a set of wine glasses that will be music to everyone's ears. Major Scale Musical Wine Glasses Chances are, you've seen someone play water glasses before — rubbing the rim of a glass with a finger can produce musical notes, which change depending on how full the glass is. Uncommon Goods has taken the idea a step further: What if, instead of water glasses, you used wine? And what if there was a way to determine which notes could be produced, by marking each glass like a measuring cup? Well, that's exactly what they did. Compose a symphony of one with these wine glasses. $68 People are also reading... Blue Springs family to host 2025 Cattleman's Ball At the courthouse, Nov. 30, 2024 Shoplifting investigation leads to arrest for possession of controlled substance They fell in love with Beatrice. So they opened a store in downtown. Nebraska football signing day preview: Potential flips and a 5-star up for grabs Hospice foundation helps with extra support Gage County Sheriff's Office helps catch Fairbury suspect Mother to Mother supporting families 'The Message' religious sect sprouts destructive groups across globe Search warrants lead to arrest of man in narcotics investigation At the courthouse, Nov. 23, 2024 Beatrice company seeks to break China's stranglehold on rare-earth minerals Board of Supervisors denies permit for Filley telecom tower Shatel: Emotions are still simmering, but Nebraska delivered the bottom line for 2024 — a bowl game Black Friday starts a busy weekend of serving customers Herschel Classic Crossbody Clear bag A recent trend in venue security is the clear-bag policy. The goal is to streamline bag checks upon entry, making the process safer and faster. If you're looking for a great gift for a loved one who plans their life around stadium and arena shows, look no further. The clear bag is an alternative to shoving everything in your pockets and clutching your smartphone to your palm. Herschel has a few reasonably priced bags that are practical, stylish and will meet most venue guidelines. $35 “King Of America & Other Realms” by Elvis Costello A new six-disc Elvis Costello box set, " King Of America & Other Realms ," has what you'd expect from a revisit to Costello's 1986 "King of America" album — a remastered version of the original, demos of most songs, a live concert from the era, even some newly recorded takes. The "Other Realms" is what sets it apart. Building on the original album's roots-based theme, half of the set explores other Costello recording adventures in the United States — many from the 2000s — with alternate versions and previously unreleased tracks. Inventive and full of buried treasures, the box is an enriching look back — and a great gift. $139.98 "Learn! Korean with BTS" There's no better gift to give or receive than one that expands horizons. In " Learn! Korean with BTS ," K-pop fans can discover a new language through their love of BTS and members Jin, Suga, J-Hope, RM, Jimin, V and Jungkook. The book package teaches Korean consonants and vowels, using the names and songs of BTS. A workbook is supplemented by video and other media. What could be better — or more rewarding — for the K-pop fan? $44.49 Bose QuietComfort Headphones A decent pair of headphones is step one on the journey to true bliss for the audiophile. However, carrying around a studio set may not always be in the cards. But a noise-canceling pair? That's necessary. Bose's QuietComfort Headphones are a solid investment, all high-fidelity audio perfect for a long plane ride or a daily commute in equal measure. $229 Gold-plated chain link bracelet, featuring the logo for Taylor Swift's album, "The Tortured Poets Department" Everyone knows someone who loves Taylor Swift. But what do you give the superfan who already owns all her albums in every colorway? Unisex jewelry, maybe? In honor of this year's release of "The Tortured Poets Department," get them the official gold-plated, stainless-steel, chain-link bracelet featuring the "TTPD" logo on the pop star's website . It comes in two sizes: a small/medium option, 7.5 inches long, and a large/extra-large option, 8.5 inches long. $40 "High and Rising: A Book About De La Soul" by Marcus J. Moore Music books are always a good idea. For the hip-hop expert, a new text from the critic Marcus J. Moore, " High and Rising: A Book About De La Soul ," is a necessary cultural history of the hip-hop trio of Kelvin "Posdnuos" Mercer, Dave "Trugoy the Dove" Jolicoeur and Vincent "Maseo" Mason, who changed music forever. The book covers their ascent, and the ways in which the group defied expectations and defined a new Black alternative music, as well as the legal troubles they faced. $27.89. Varieties of Green Day's coffee brand Punk Bunny Coffee, from left, Dookie Roast, American Idiot Roast and Fancy Sauce Roast. Pop-punk band Green Day's coffee brand, Punk Bunny Coffee , is ideal for fans of their palm-muted power chords and political anthems — and for those who prefer their morning brew to be organic, fair trade and delicious. This holiday season, they're offering a few limited-edition roasts, including some themed after their best-known albums, like "Dookie" and "American Idiot." If coffee isn't preferable, no worries! They've got a limited-edition hot cocoa, too. $13.99-$17.99 "Neu Klang: The Definitive History of Krautrock" by Christoph Dallach Let's be honest: True music lovers enjoy all different genres and styles. Those with the deepest knowledge are insatiable; they want to learn as much as they can about a variety of different subcultures and niches. For those real ones, the best gift this holiday season is the first ever oral history of Krautrock, Christoph Dallach's " Neu Klang: The Definitive History of Krautrock ," featuring German bands like Can, Neu!, Amon Düül, Popul Vuh, Tangerine Dream, Faust, Cluster and, of course, Kraftwerk. $29.80 2024 holiday mailing tips: Deadlines, packaging advice and more things to know Tribune News Service Small, luxury foods are great as stocking stuffers or other gifts. Ideas for under $50 By KATIE WORKMAN Associated Press Why your favorite catalogs are smaller this holiday season DAVID SHARP Associated Press Receive the latest in local entertainment news in your inbox weekly!The mysterious drone sightings over northern New Jersey in recent weeks may be part of a classified US government operation, former CIA operations officer Laura Ballman has claimed. . For weeks now residents of New York and neighboring New Jersey, both on the US East Coast have been reporting flights of large unidentified drones, a phenomenon that has only fueled concerns -- especially since local and national authorities have provided no answers as to the origins of the devices. Video footage of mysterious airborne devices has clogged social media platforms, and some elected officials have taken to criticizing President Joe Biden's administration for its supposed inaction. The US government has stressed that there is no evidence that the drones pose any threat, saying they may be manned aircraft including lawfully-operated small planes or helicopters. Meanwhile, the former CIA officer claimed, “Deducing the statements from [National Security spokesman] John Kirby that these drones are not operating illegally, coupled with several op-eds that have been out there in the last 24 hours about the need to look at our detection systems, makes me think perhaps this is actually a classified exercise to test either evasion technology or detection technology in urban areas.” Ballman also refuted the involvment of CIA in the drone sightings saying that it’s “not their mandate to operate in the United States.” The former CIA officer has also urged the government to provide more information. 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The FBI found no evidence of widespread drone activity, and security officials characterized public concern as an overreaction. New Jersey Senator Andy Kim investigated the drone sightings with local police. He concluded many of the reported drones were likely airplanes. Kim explained his findings on social media, sharing flight tracking data that supported his conclusion. Officials from the White House, FBI and DHS on Saturday stressed that most of the recent reported drone sightings in New Jersey and nearby states involved manned aircraft, and there was no evidence of any national security threat. Some lawmakers like Republican congressman Chris Smith of New Jersey have raised the prospect of threats from a foreign state such as Russia or China, without citing evidence to back the claim. On Friday Trump jumped provocatively into the fray. "Mystery Drone sightings all over the Country. Can this really be happening without our government’s knowledge," he posed on his Truth Social media platform. "I don't think so! Let the public know, and now. Otherwise, shoot them down!!!" (You can now subscribe to our Economic Times WhatsApp channel )

New bioreactor brings seed stability for North Island College seaweed researchersOnline Therapy Services Market , 42% of Growth to Originate from North America, Technavio“There was excitement in the classroom and, for a few students, they were moments of pure magic. The wide-eyed girls burst into spontaneous giggles, even as the unfamiliar, yet friendly voice of ‘Alexa’, captivated their attention,” recalls G. Sravya, Training and Content Associate at Quest Alliance, a non-profit trust roped in by the Government of Andhra Pradesh to integrate Artificial Intelligence (AI) in the school curriculum. To equip young learners for the digital future, the students of Classes 7 to 9 will soon learn about AI as a part of their curriculum. Watching the Amazon’s cloud-based voice service, Alexa, respond to their curious queries, some of the students, after an initial pause and hesitation, screamed, “It listens to us and it talks back.” Ms. Sravya was recounting the students’ brush with the latest technology at one of the Kasturba Gandhi Balika Vidyalaya (KGBV) in Srikakulam district. The initiative was a part of a three-year Memorandum of Understanding (MoU) signed between the Samagra Shiksha, Quest Alliance, and Leadership for Equity (LFE), under Amazon’s Future Engineer Programme (AFE), in February, 2024. The AI curriculum is being piloted this year in around 100 KGBVs and Andhra Pradesh Model Schools (APMS) in Srikakulam, Vizianagaram and Visakhapatnam districts. “In these three years, our role is to ensure that the students’ understanding of AI deepens through foundational knowledge and hands-on experience, and prepare the young learners for future tech-driven careers,” said Sameera, Andhra Pradesh State Lead for Quest Alliance. Most students in KGBVs come from marginalised communities with a rural background. “For students, its the opening of a door to the vast possibilities of technology,” said Srikakulam District Education Officer S. Tirumala Chaitanya. “The initiative is being implemented in 38 schools — 25 KGBVs and 13 Model Schools — in the district,” he said. The Quest Alliance also imparted training to 200 teachers. “The initial amazement and disbelief of the students is gradually transforming into knowledge that AI is the creation of computer systems capable of performing tasks that typically require human intelligence,” said Ms. Sameera, adding that the objective was to make students not only learn the concepts and applications of AI, but also help them build critical thinking and analytical skills to become responsible digital citizens. Mr. Chaitanya said the good thing was that teachers were gaining expertise through AI training, and that the initiative would equip our classrooms with answers to the demands of the 21st century. “The curriculum is designed to develop students’ proficiency in using fundamental AI tools and technologies, while making sure that they also understand the potential risks and iniquities the technology operates with,” said Ms. Sameera, explaining that to encourage creativity, the programme allows students to explore AI applications in various projects, fostering creative expression through technology. The annual curriculum is collaboratively being tested and co-developed with educators from government schools. “Their expertise ensures the curriculum is contextualised and tailored to local needs, creating a grounded and culturally relevant AI programme,” explained Ms. Sameera. Published - December 15, 2024 08:18 pm IST Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp Reddit Andhra Pradesh / Artificial Intelligence / computing and information technology / education / emerging technologies

As an income-seeking investor, one of the most satisfying things is getting a cheque each month. Fortunately, the market is flush with great stocks that pay a healthy . Here’s a look at two great options that will cut you a dividend cheque each month. Let’s take a moment to talk about ( ). RioCan is one of the largest real estate investment trusts (REITs) in Canada, with a portfolio of over 180 properties located across the country. RioCan has historically focused on commercial retail sites, but in recent years, the REIT has shifted to mixed-use residential properties. And that’s where an opportunity for investors looking to get a cheque each month lies. RioCan’s mixed-use residential portfolio comprises residential towers that sit atop several floors of retail. The properties are located in high-traffic, in-demand areas in Canada’s metro areas. This not only caters to the lack of housing in those metro areas but also from an opportunity standpoint for would-be landlords. Specifically, the average price of a home in Canada’s major metro areas is north of $1 million. This means that a traditional downpayment number is nearly $200,000 for a single property. Then, the mortgage on that property will be considerable, and that’s not even the case with taxes, insurance, repairs, and tenant issues. The alternative is to invest in RioCan, with that risk spread over hundreds of units. And like a landlord collecting rent, RioCan cuts a dividend cheque each month. As of the time of writing, RioCan pays out a 5.90% yield. This means that a $30,000 investment (far less than a traditional downpayment) will earn just shy of $150 each month. Keep in mind that that’s without a mortgage, taxes, or other obligations. Even better, prospective investors who don’t need to draw on that income yet can reinvest it, allowing it to grow until needed. ( ) is another great investment option that can cut you a cheque each month. For those unfamiliar with the company, Winnipeg-based Exchange is an acquisition-focused company that owns a dozen subsidiaries. Those subsidiaries are broadly classified into aviation and manufacturing segments. Across both segments, those subsidiaries share two common elements that help to make Exchange a great investment option. Specifically, they generate free cash for the company while also serving niche segments of the market. On the aviation side, this includes providing passenger and cargo services to remote regions of Canada’s north. On the manufacturing side, this includes custom manufacturing and communications services. Collectively, they help Exchange to invest in new acquisitions while providing a tasty and well-covered monthly dividend. As of the time of writing, investors looking to get a cheque each month will appreciate the 4.63% yield on offer. Prospective investors can also take solace in knowing that Exchange has provided annual bumps to that dividend, with 17 increases over the past 19 years. Both Exchange and RioCan provide investors with a juicy cheque each month. They also benefit from some defensive appeal, which, in my opinion, makes them great options for any . Buy them, hold them, and watch them (and your income) continue to grow.French government falls in historic no-confidence vote

NoneTraveller planning appeal among this week's public notices