European pension funds should re-evaluate their equity holdings in the light of US president Donald Trump’s escalating war of words with China over trade tariffs, commentators have warned.Markets around the world tumbled earlier this week following president Trump’s announcement that he was considering adding tariffs on a further $200bn (€170bn) of Chinese goods following China’s retaliatory imposition of levies on $34bn of US goods.On Tuesday, the Dow Jones closed down by almost 300 points – wiping out any gains over the year. Asian markets rallied on positive US housing data, having seen the main markets in Singapore and Japan fall by 1% and 0.8% respectively a day earlier.“This is certainly something that pension fund investors should be aware of and concerned about,” said Alastair George, chief investment strategist at Edison Investment Research. George has advised caution “for some time”, he said, not just because of the burgeoning trade dispute but because markets were likely to trade sideways following moves by the US and Europe to wind down monetary stimulus programmes.“At this stage you’re talking about running a defensive portfolio position – not that you fear a calamity, but because you have relatively little upside,” he said. How US, Chinese and European equities have performed this year. (Total return, priced in dollars)Source: FE Analytics“If the markets trade sideways, then whether you are worried about a trade war or a peak in the economic cycle your response would be broadly similar in terms of your equity allocation: avoid globally traded commodities, the resources sector and emerging markets.”Last week, the US president announced a 25% tariff on $50bn of Chinese products ranging from cars to agricultural products, taking effect from 6 July. The US has also threatened imposing tariffs on products imported from Canada and the European Union.China, meanwhile, has threatened a 25% tariff on imports of US coal, oil and gas.“Europe is very exposed as it is very open [to trade],” said Tapan Datta, head of global asset allocation at Aon. “There are a lot of European industrials that would be impacted – but at the margin the move will boost some US stocks.“Over the course of these things, there will always be some winners and it is likely that some US stocks will win [over the short term].”Datta added a note of optimism, however: “It is still too early to get alarmist that the markets will tank.”In a note published on Wednesday, State Street Global Advisors lauded the “stellar first quarter results” of S&P 500 companies, which were now on track to “post a nearly 25% increase in earnings compared to last year”.The S&P 500 is approximately 4% up year to date.Pal Sarai, managing director and head of client consulting for EMEA, Australia and Asia at consultancy Bfinance, said the events unfolding in Washington and Beijing could prove to be a “major geopolitical risk that may derail the nascent global economic recovery”.Insuring against equity risk has come to the fore recently, he added: “There has been a trend in recent months towards strategies that may protect against equity market falls, and this could support the continuing appetite for such strategies.”Two UK public sector schemes – for the counties of South Yorkshire and Worcestershire – have employed significant equity protection strategies in recent weeks.Ultimately, the escalation of the trade dispute between the US and China should “have investors worried”, added Seema Shah, senior global investment strategist at Principal Global Investors.“Recall that the original tariffs on about $50bn-worth of Chinese imports motivated sharp declines in equity markets, despite not being expected to have a meaningful impact on the global economy,” she said. “The latest ratcheting up in the trade dispute may trigger even more severe market turmoil.”Trading blows: Who said what, and when, in the war of words US president Donald Trump and Canadian prime minister Justin Trudeau at the G7 gathering earlier this monthJanuary: US imposes tariffs on steel products from India and ChinaFebruary: Anti-dumping duties levied on iron and aluminium from ChinaMarch: US adds to tariffs on Chinese steel and aluminiumApril: China retaliates, imposing tariffs on US products such as cars and aircraft; Donald Trump threatens more tariffs on $100bn of goodsMay: “Ceasefire” announced by China and US8 June: Trump criticises France and Canada over trade ahead of G7 meeting in Quebec15 June: US imposes 25% tariff on $50bn of Chinese goods; China retaliates with levies on $34bn of US products19 June: Trump threatens 10% tariff on additional $200bn of US goods; China said to consider levying oil, gas and coal imports
SOUTHAMPTON, England (Reuters) – Sam Billings struck a career-best unbeaten 67 as England overcame a mini-wobble to claim an emphatic six-wicket victory over Ireland in a Cricket World Cup Super League One-Day International on Thursday.After being sent into bat, Ireland slipped to 28 for five in a horror start, but recovered to post 172 all out in a first competitive game for four months for many players in their side.World champions England scored at a good rate in reply but lost four wickets inside the opening 14 overs to give the visitors a sniff of victory. But Billings and captain Eoin Morgan (36 not out), a former Ireland international, put on 96 for the fifth wicket to secure victory with 22.1 overs to spare.England were without a number of regulars who are preparing for the Test series against Pakistan next week, but returning seamer David Willey had Ireland in early trouble as he picked up career-best figures of 5-30 in a fine display of swing bowling. The visitors’ innings was rescued by South African-born all-rounder Curtis Campher, 21, who was unbeaten on 59 on debut to go with 1-26 with the ball.He put on 66 for the eighth wicket with Andy McBrine (40) to give Ireland something to defend.Jason Roy (24) and James Vince (25) both got starts for England in their reply and there was a murmur of excitement in the visiting camp when they had their hosts 78 for four.But the experience of Morgan and clean-hitting of Billings, who struck 11 fours, took the game away from the Irish, who will look for improvement in the second match of three at the same venue tomorrow. The Super League will be used to determine the eight qualified teams for the next World Cup in India in 2023.
The football team, playing in its first full season without Moore, has constant reminders of him. The No. 35, which hung inside Smith’s office this season, has been moved into the locker room. Little stickers honoring Moore have been slapped on helmets. The team takes Moore’s away jersey out to practice and plans to bring it to road games. Nearly everyone on the team, Smith said, has dog tags, which Faults and Chandler helped design.On the front is the Linfield logo with the slogan, “Play for Moore,” underneath it. Below that, the No. 35. On the back, it has John 11:25, the Bible verse Moore’s mother picked out.“I am the resurrection and the life. The one who believes in me will live, even if they die.”After Moore’s death, Linfield College had to decide whether it would take the field six days later against Chapman in the next round of the Division III playoffs.Two days after Moore died, Monday, motivational speaker Will Keim addressed the team before it decided to practice that day. Tuesday, students on campus held a candlelight vigil. Wednesday, the team ate dinner together, talking mostly of Moore. Thursday, Chandler, Faults and Smith spoke to nearly 2,000 mourners at Moore’s memorial service. Friday, the team rested.“We went out because that’s what Parker would’ve wanted,” Smith said. “He was a worker, a grinder. I think he would’ve been mortified if we’d stopped then.“But I honestly didn’t know how we’d come out and play.”Linfield scored touchdowns on its first four drives and never let Chapman into the game. The following two weeks, 10th-seeded Linfield beat two previously undefeated teams, Mary Hardin-Baylor and Widener. The Wildcats run ended in the national semi-finals, losing, 20-14, to eventual-national champion Wisconsin-Whitewater.Seven months later, speaking on the phone from his office, Smith talked about Linfield’s newest tradition. Moore’s jersey, the No. 35, will be worn by an junior or senior defensive player who best represents what Parker stood for as a player and as a person.“In football, you’re never just playing for yourself,” Chandler said, who was selected to don the number this season. “You’re not playing for the love of the game. You’re not playing to win. You’re playing for your brothers. We’re playing now for a brother that we love, and a brother that we lost. This is a lot more than just a game.”On Sept. 12, Linfield begins its season with Homecoming against Chapman—the same team Linfield played against in its first game without Moore.Saturday, 301 days after Moore’s death, a player in a Linfield College uniform will run onto the field with John 11:25 around his neck, wearing No. 35. Comments Published on September 10, 2015 at 9:49 pm Contact Sam: firstname.lastname@example.org | @Sam4TR A few minutes after 11 p.m. on Saturday, Nov. 15, 2014, 33-year-old Joventino Bermudez-Arenas entered a McMinnville, Oregon 7-Eleven and approached the man checking out. He took out a knife and stabbed 20-year-old Parker Moore twice in the chest.Medics airlifted Moore to a Portland hospital, where he later died. Moore and Arenas did not know each other, and police reportedly found no motive.The 7-Eleven sits across the street from the campus of Linfield College, where Moore played linebacker on the football team. Hours earlier, Moore helped shutout Linfield’s opponent 59-0 to win its conference championship.That night, Moore’s close friends and teammates, Kyle Chandler and Eli Faults drove an hour to Portland. The next morning, the team met in the locker room with grief counselors.“We’re not going to pretend this didn’t happen,” Linfield’s head coach Joseph Smith said. “We don’t want people dealing with it alone in their dorm rooms. I want (my players) to talk about it…(They’ll) never quite recover, but we want to honor (Parker) by being better men. I fully believe that if a bunch of young men living their lives that way then his death won’t be in vain.”AdvertisementThis is placeholder textLinfield, a historically good Division III football school in McMinnville, Oregon, suddenly faced an adversity much greater than football, Smith said. It’s been ten months since the shock, since Moore’s death, since the improbable playoff run. The 2015 school year has brought pain. When a group of teammates couldn’t compromise on where to live, Chandler thought of what Moore would do to please everyone. For the first time in three years at Linfield, Chandler won’t room with Moore.“It’s always in the back of your mind,” Chandler said. “The week after it happened, we had a week of just these gorgeous sunsets. When I wasn’t in playing, I would kind of just look off, sitting there on the football field thinking about him. I still have those moments. But you learn to live with it. You have to.”The team’s focus was not moving on, but moving forward with his memory, Smith said.This season, before its second game, Linfield will unveil a monument near the stadium, bearing Moore’s picture and some lights. The day after, Linfield will host a memorial run/walk event of 3.5 miles—Moore wore number 35—which will end at Maxwell Field, Linfield’s home turf.Courtesy of Linfield Athletics Facebook Twitter Google+
“Hard for us to make the judgment now that we’re one trade away from the World Series,” MacPhail told reporters last week, via MLB.com. “We don’t believe that. I don’t believe that. So, as a result, you’re going to have to be more judicious with your playing talent. It doesn’t mean you can’t make a different type of deal, doesn’t mean you can’t make a deal where a component is taking on somebody’s salary.”Blue Jays ace Marcus Stroman and Giants left-hander Madison Bumgarner are expected to be available while the Indians could consider moving Trevor Bauer. The Phillies, however, may not be willing to meet the asking price for any of those players.“Our ownership has been pretty clear, and they’ve demonstrated by their actions, that salary is not something that is going to be … it has to make some sense, but that’s not going to be something that’s going to hold us back,” MacPhail said. “I think from my standpoint, I’m going to be more judicious. Gabe Kapler says Jake Arrieta ‘at 85 percent’ is Phillies’ best option Todd Frazier: Jake Arrieta went ‘a little overboard’ with dented skull threat “We win seven in a row … I might feel differently. Given our current circumstances, I think I’m going to be a little judicious and careful about what talent’s walking out the door.”The Phillies are interested in Orioles reliever Mychal Givens, according to an earlier report from MASN. The Phillies apparently want to beef up their pitching staff before the July 31 trade deadline.Philadelphia general manager Matt Klentak has been “in contact with every team that has pitching available,” MLB insider Jim Bowden reported Tuesday during an appearance on CBS Sports HQ. Phillies All-Star J.T. Realmuto interested in signing extension, report says The Phillies came into the season with high expectations but have been inconsistent so far. They entered play Tuesday with a 48-46 record and have lost four of their last six games.While Philadelphia is tied for the second wild-card spot, president Andy MacPhail said the team might not be willing to trade top prospects for frontline players. Related News