Stocks recover their poise as Italy concerns abate

first_imgLONDON – Stock markets recovered their poise Wednesday amid hopes for a resolution in Italy’s political turmoil that may put a halt to talk of another election this year.KEEPING SCORE: In Europe, Germany’s DAX climbed 0.6 per cent to 12,748 while the FTSE 100 index of leading British shares rose 0.3 per cent to 7,654. Italy’s FTSE MIB was the region’s standout, jumping 2 per cent to 21,180. The CAC 40 in France though, underperformed, trading 0.4 per cent lower at 5,415. U.S. stocks were poised for a solid open, with Dow futures and the broader S&P 500 futures up 0.5 per cent.ITALIAN UNCERTAINTY: The main focus in financial markets this week has been Italy with fears growing that a political impasse could lead to another general election that could in effect become a referendum on the pros and cons of the country’s use of the euro currency. However, on Wednesday, hopes were raised that an election could be avoided after Italy’s premier-designate, Carlo Cottarelli, said “new possibilities” had emerged to form a government based on the outcome of the March 4 vote, and that he wanted to give the option time to mature given the negative market reaction to the prospect of new elections. Efforts to create a so-called “political” government failed over the weekend after President Sergio Mattarella vetoed an economy minister proposed by the 5-Star Movement and League, the two big vote-getters in March which had come together to form a populist alliance.ANALYST TAKE: “If a government can be formed that receives the stamp of approval from Mattarella and is therefore seen as not posing a threat to Italy’s place in the eurozone, then this will come as a relief to markets in the near-term,” said Craig Erlam, senior market analyst at OANDA.CURRENCIES: With hopes raised that another Italian election will be avoided the euro rallied from near-year lows against the dollar, trading 0.9 per cent higher at $1.1639. The dollar, meanwhile, rose 0.1 per cent to 108.90 yen.CHINA TRADE: A U.S. business group said American companies in China are uneasy about Washington’s threat of export and investment controls in a trade dispute with Beijing but see them as a possible way to achieve fairer operating conditions. Commerce Secretary Wilbur Ross was due in Beijing on Saturday after the White House renewed its threat of 25 per cent tariffs on $50 billion of Chinese goods. Washington proposed curbs on Chinese investment and purchases of high-tech goods.ASIA’S DAY: Japan’s Nikkei 225 stock index dropped 1.5 per cent to 22,018.52. South Korea’s Kospi dropped 2.0 per cent to 2,409.03. The Hang Seng in Hong Kong slipped 1.4 per cent to 30,056.79 and the Shanghai Composite index fell 2.5 per cent to 3,041.44. Australia’s S&P ASX 200 fell 0.5 per cent to 5,984.70. Shares fell in Southeast Asia and Taiwan.ENERGY: U.S. crude oil climbed 43 cents to $67.16 per barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price international oils, added 71 cent to $76.20 a barrel in London.last_img read more

Canada can avoid offending US by pursuing sectoral trade with China report

first_imgOTTAWA – Dozens of experts are urging Canada to choose a surgical, sector-by-sector approach when it comes to expanding its trading relationship with China rather than a sweeping free trade deal that could risk provoking the United States, says a new report.The Public Policy Forum paper, to be released Thursday, lays out a suggested blueprint for Canadian policy-makers at a time when Ottawa has struggled in its efforts to deepen business ties with the Asian superpower.The study will also arrive after Canada recently agreed to a free trade pact with the U.S. and Mexico, a deal that includes a controversial new clause requiring the countries to notify each other if they enter into trade talks with a “non-market” economy.The clause makes no specific mention of China, but the provision is being widely viewed as an attempt by Washington to single out Beijing.Even with these new constraints, the report advises Canada to chase several targeted arrangements covering numerous sectors ranging from agri-food, to natural resources, to education.A more-focused approach was preferred by most of the experts consulted for the report — even before the North American trade deal and the clause were announced last week. Many of them believe it would help Canada avoid the long, complicated process of hammering out a far-reaching trade agreement with a country as complex as China.“We settled on a set of recommendations built off the foundation of sectoral agreements, rather than comprehensive free trade, as the best means for realizing quick and significant gains,” reads the report, which is based on input from more than 70 experts, including business executives, government officials, environmentalists, Sinologists and former prime ministers.“A sectoral approach also provides the benefit of creating a pathway to a more diversified and growing trade portfolio for Canada that does not run afoul of the virtual veto given to our North American trading partners.”The document, the culmination of consultations over the last 18 months, argues that Canada cannot afford to ignore China’s size and rapid growth.As an example, the report said in 2000 China made up just four per cent of the global economy compared to the U.S. share of 31 per cent. Today, China accounts for 15 per cent and the U.S. 24 per cent.Ottawa must engage with China if it’s truly focused on trade diversification and on moving away from its heavy dependence on the U.S. market, the study said.For instance, it noted that 75 per cent of Canada’s merchandise goods go to the U.S. In the United Kingdom, however, less than 50 per cent of its goods go to the European Union, which is about the same size of the American market.As Canada looks to diversify, Public Policy Forum President Edward Greenspon said the consultations argued Canada can do more business with China”in such a way that should not offend the United States.”Greenspon said in an interview that 4.3 per cent of Canada’s export basket goes to China. In comparison, he said 8.4 per cent of U.S. exports go to China, which means Canada could double its exports before its engaged at the same level as the U.S.“So, there’s room for growth without provocation,” he said.The document said a minority of the participants thought the sectoral approach was not ambitious enough. But they found common ground on many points.Beyond the sector-by-sector approach, the document offered about a dozen other recommendations for Canada in its engagement with China. Here are few:— Strike a new deal on a co-operation arrangement in areas of shared global interest, including environmental protection, climate change and the governance of international institutions.— Take steps to ensure more clarity, transparency and predictability when it comes to Canada’s foreign investment regime, including national security reviews.— “Radically raise Canada’s game” in understanding and interacting with China — for all levels of government, the business community, financial sector, civil society and higher education.— Direct infrastructure spending, including financing through the Canada Infrastructure Bank, to improve inadequate transport and port facilities on the Pacific coast because the country is squandering export opportunities for industries like agri-business, forestry and energy.Follow @AndyBlatchford on Twitterlast_img read more

BJP Cong get into poll mode Cong wants top leaders to contest

first_imgShimla: In the state, where there power equations swings between two national parties – BJP and the Congress, the battle for upcoming Lok Sabha polls is getting quite interesting this time.The BJP, which had won all the four seats in 2014 , wants to retain all sitting MPs, including party veteran Shanta Kumar, 84, for the contest but the Congress is looking at new choices to field its top seniors. At a meeting of the Congress’s election committee, held on Wednesday at Chandigarh, the party has shortlisted names for all the four Parliamentary constituencies even proposing to former Chief Minister Virbhadra Singh either to contest himself from Mandi Lok Sabha constituency or make sure that his son Vikramaditya Singh, a sitting MLA elected first-time from Shimla (rural) contests the seat. Also Read – How a psychopath killer hid behind the mask of a devout laity!The BJP’s core committee in its two days meeting has also shortlisted the names for Shimla, Kangra, Mandi and Hamirpur Parliamentary constituencies. Initially, there was much suspense on party senior Shanta Kumar, who had won Kangra Parliamentary seat in 2014 but it looks Shanta Kumar is well settled to re-enter the poll fray. Admits Chief Minister Jai Ram Thakur “as far as the decision on tickets is concerned, there is already consensus in the party not to change candidates. On Shanta Kumar’s candidature, the party’s national leadership will take a final call. But, we are clear on retaining the candidates.” Also Read – Encounter under way in Pulwama, militant killedIn Hamirpur Parliamentary constituency, where three-time sitting MP Anurag Thakur, who was also BJP’s Chief whip, will be party’s candidate while two other incumbent MPs — Ram Swaroop Sharma (Mandi) and Virender Kashyap (Shimla) will be back in the contest. Beside Mandi, Parliamentary seats of Hamirpur, Shimla and Kangra have become quite high stake constituencies for the Congress, which the party has not won for several years. The name of Congress legislature Party (CLP) leader Mukesh Agnihotri was being prominently mentioned as ‘winning” candidate or one who can really give Anurag Thakur a tough fight. Given a chance Agnihotri – a Virbhadra Singh loyalist,w ill not risk his political career. Kangra Parliamentary seat is also a hot spot for the Congress. Former Minister G S Bali is Congress heavyweight in the area also keen to contest the Lok Sabha. Another former minister Sudhir Sharma could be considered for the contest. In Shimla, former MP Col (Rtd) Dhani Ram Shandil is also party’s choice to take on incumbent MP Virender Kashayp. But, being a sitting MLA, he may not also look forward to contesting. Vinod Sultanpuri son of former MP Late K D Sultanpuri is another contender for the ticket. In totality, the Congress is undoubtedly looking forward to put-up a good show in the poll. The party has a bigger struggle to make some of the leaders agree to contest the poll rather than building-up a campaign against the BJP.last_img read more

Facebook still hosting NZ shooting footage Report

first_imgSan Francisco: Despite Facebook’s claim that the livestreaming video of the March 15 Christchurch shooting that killed 50 people was removed from its platforms, sections of the raw footage are still available for users to watch, the media reported. According to a report in Motherboard on Friday, certain videos on Facebook and Instagram show sections of the raw attack footage. “The world’s biggest and most well-resourced social media network is still hosting copies of the violent attack video on its own platform as well as Instagram,” the report claimed. Some of the videos are slices of the original 17-minute clip — trimmed down to one minute or so — and are open to be viewed by anyone. In one instance, instead of removing the video, which shows the terrorist shooting and murdering innocent civilians from a first-person perspective, Facebook has simply marked the clip as potentially containing “violent or graphic content”. One of the clips shows the terrorist walking up to the first mosque he targeted, and opening fire. The video does not show the full attack, and stops at the 01:15 mark. A Facebook spokesperson, however, said “the video did violate our policies and has been removed”. The Facebook livestreaming of the New Zealand terror attack sparked global outrage. The video was viewed over 4,000 times before it was removed. The video was later shared in millions on other social media platforms, including Twitter and YouTube. Facing flak, the social media giant is now exploring restrictions on who can use its “Facebook Live” feature. Earlier this month, New Zealand’s privacy commissioner John Edwards labelled Facebook as “morally bankrupt pathological liars” after the social media platform’s CEO Mark Zuckerberg tried to play down the Facebook livestreaming of Christchurch shooting.last_img read more

At Least Phil Jackson Didnt Leave The Knicks In Ruins

Naturally, that surplus is made possible by the nature of the rookie scale, which artificially depresses pay for young players, but even going only by the real and projected value, this group of young players has been and will be worth far more than the veterans Jackson acquired. And the value isn’t all tied up in Porzingis, either — Hernangomez and Ntilikina both project to produce at a high level.With Jackson on the way out, the expectation is that coach Jeff Hornacek will have the freedom to move away from Jackson’s much derided triangle offense. Dolan is teasing the idea of chasing former Denver Nuggets executive Masai Ujiri, who helped pants New York in the ill-advised trade for Anthony, and then again in the even more lopsided Andrea Bargnani deal a few seasons later when Ujiri was working for the Toronto Raptors. (Somewhat infamously, Ujiri nearly traded Toronto’s star point guard Kyle Lowry to New York before Dolan, hesitant to be humiliated by Ujiri once again, called off the trade at the 11th hour.)The Knicks, who were 80-166 under Jackson, 29.5 games under their preseason Vegas win totals, are in possession of all of their future first-round draft picks for the first time in a decade.2Hell, the last time the Knicks’ draft outlook was promising for consecutive years was 2005 and 2006, when they had back-to-back seasons with multiple first-rounders. In 2005 they drafted Channing Frye and David Lee, and traded Kurt Thomas for Quentin Richardson and the draft rights to Nate Robinson. The following season, the team drafted Renaldo Balkman and Mardy Collins. Things are looking up.And so the Knicks move on to the next stage of their development, better off than they were three seasons ago. Phil Jackson did a good job — except for the parts where he didn’t. Or perhaps he did a world-historically bad job, except for a few draft picks that went his way. It was a mixed bag, full of drama and triangles, and maybe the best thing to be said about Jackson’s Knicks is that they never managed to completely bungle the future. But in this town, that’s not nothing. It’s borderline groundbreaking. Stick around long enough and even the New York Knicks might have a bright future to sell you.VIDEO: Phil Jackson’s legacy with the Knicks isn’t all bad In just three full seasons, Phil Jackson inflicted as much psychic distress on the New York Knicks fanbase as any executive in New York’s recent, storied, terrible history. Jackson signed with the Knicks on March 18, 2014. News broke on Wednesday morning that he’s leaving.Yet the fans’ discomfort was only possible, in large part, because Jackson’s front office drafted well and unearthed talented young players. Jackson built the team of the future, and then set about imperiling it.Jackson’s exit ends several weeks of turmoil which saw him feud openly with Carmelo Anthony over his no-trade clause (which Jackson himself negotiated) and entertain trade possibilities for Kristaps Porzingis, either in earnest or to send the young star a message to fall in line. It was a messy end, but then, things have been a mess for a while now.In Jackson’s first offseason, he made the biggest decision of his tenure: re-signing Anthony to a 5-year, $124 million contract, which included a no-trade clause. He also traded Tyson Chandler and Raymond Felton for then-33-year-old Jose Calderon, a handful of cap filler and a pair of second round picks. Not quite an earth-moving rebuild, but not terrible.The following season, the Knicks made a three-team deal that sent J.R. Smith and Iman Shumpert to Cleveland (and three straight Finals appearances), but returned three marginal players and a 2019 second-round pick. That offseason, the team drafted Porzingis with the No. 4 overall pick, and signed Robin Lopez to a 4-year, $55 million deal. The roster rounded out with peripheral free agents Arron Afflalo and Derrick Williams and a trade for Kyle O’Quinn. Then the real trouble began.In the summer of 2016, Jackson signed Joakim Noah to a 4-year, $72 million contract, and traded Lopez (and his favorable contract), rookie Jerian Grant and Calderon to the Chicago Bulls for Derrick Rose, Justin Holiday and a second round pick. Rose remained a ghost of his former self; Noah was injured, ineffective and more expensive than Lopez.Going by FiveThirtyEight’s CARMELO projection system,1CARMELO has been updated to once again use Real Plus-Minus, though it’s now blended with Box Plus-Minus. We’ll have more details in a few days, but for now, these numbers won’t match the ones in the interactive. we can see just how badly Jackson overshot on the veterans he acquired. The seven most significant players he brought in or re-signed — Anthony, Rose, Noah, Afflalo, Courtney Lee, Lopez and Calderon — made or will make a combined $253 million from the 2014-15 season to the end of the 2019-20 season from the Knicks. Over that same time, they will have produced $134 million of value. The Knicks overpaid by half. The rookies were a different story. Jackson famously preferred Jahlil Okafor to Porzingis, but should be credited for taking a talented but risky prospect. The same goes for trading second-round pick swaps for Willy Hernangomez, a viable center of the future, provided we live long enough to see a future without Joakim Noah on the books, and signing Mindaugas Kuzminskas. And last week’s draft selection, 18-year-old Frank Ntilikina, is a risky, home-run type pick at a draft position in which Jackson could have taken safer players with lower ceilings.Using the same CARMELO method as we did for the veterans, the key Knicks rookies look far better. They project to produce $203 million by 2020, but will have been paid just shy of $43 million. read more

Ohio State field hockey battles Indiana for chance at B1G tournament

Members of the Ohio State field hockey team sing ‘Carmen Ohio’ after a 2-1 loss to Michigan on Nov. 2 at Buckeye Varsity Field.Credit: Lantern file photoOhio State field hockey will travel to Bloomington, Indiana, on Friday for its final road game of the regular season where the Buckeyes go head-to-head with the Indiana Hoosiers.The Buckeyes (5-10, 0-6) look ahead to the match after a tough weekend of Big Ten play. OSU fell to both Rutgers and No. 5 Maryland at home, remaining winless in conference play.As OSU approaches one of the last games of the season, junior midfielder Maddy Humphrey said that the goal is to end the season on a high note and get a chance to compete in the Big Ten tournament.“We say that we don’t have anything to lose but we do because we are a part of Ohio State,” Humphrey said. “We need to represent (the school) by getting to the Big Ten tournament because that’s what Ohio State is all about.”Humphrey continues to dominate OSU’s offense with 11 goals and seven assists for a total of 29 points. After Humphrey’s performance over the past weekend, she jumped to No. 14 on the all-time points list with a career total of 85 points.Junior goalkeeper Liz Tamburro leads the Big Ten for the second year in a row with 96 saves this season. Tamburro also boasts a .716 save percentage. Also protecting the net is junior back Caroline Rath, who has had six defensive saves this season and is tied for fourth nationally.Indiana (8-8, 3-3) comes to the match after upsetting No. 12 Michigan, but falling to Michigan State the previous weekend.Returning to represent the Hoosiers is senior midfielder Katie Barber, who has finished 16 goals and four assists for a cumulative 36 points. Junior midfielder Taylor Pearson follows Barber with 19 points made up of eight goals and three assists.Sophomore goalkeeper Noëlle Rother is ranked second in the Big Ten behind OSU’s Tamburro with 91 saves and a .740 save percentage. Rother was also named Big Ten Defensive Player of the Week for the weeks of Oct. 11 and Oct. 18.Coach Anne Wilkinson said that the Buckeyes have really stepped up their game in practice this past week as they have prepared to face Indiana.“They came out with energy and focus, which was good,” Wilkinson said. “We’re … still working through how we handle (tough) situations…and I think they’re managing themselves appropriately in that they’re having the right focus going into this game on the road.”Friday’s match will mark the 27th time that the Buckeyes and Hoosiers have faced off since 1974. OSU leads the series with a 16-9-1 record and has won three of the last five games.Friday’s faceoff is set for 3 p.m. and will be streamed live on BTN Plus. read more

There have been no formal offers Piateks agent

first_imgThe Polish striker is the hottest player in the Italian Lega Serie A having scored 14 goals in his last 10 competitive matchesPolish forward Krzysztof Piatek recently joined Genoa in the Italian Lega Serie A.The footballer has only played 7 matches, where he has scored 9 goals for his club.And there have been many rumors of him leaving Genoa soon, but there’s nothing official.“Many clubs have contacted us, but there has been no formal offer,” Piatek’s agent Szymon Pacanowski was echoed by Football Italia.“Many clubs have contacted us over the last few weeks, but I won’t name them.”“However, there has been no formal offer from any club, including Napoli,” he added.Cristiano Ronaldo, JuventusSerie A Betting: Match-day 3 Stuart Heath – September 14, 2019 Considering there is a number of perfect starts so early in the Serie A season, as well as a few surprisingly not-so perfect ones….“His value has certainly risen over the three months in Serie A, but right now we are happy to remain at Genoa.”📋 – Straight off the training ground!Take a look at how Krzysztof Piatek gave Poland the lead against Portugal…Watch Poland v Portugal live on Sky Sports Football Red Button or watch in-game clips and highlights here: https://t.co/orKC8PgnPR pic.twitter.com/vlh1GWtWlC— Sky Sports Football (@SkyFootball) October 11, 2018last_img read more