Trade war rhetoric should prompt equity rethink, say advisers

first_imgEuropean 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 wordscenter_img 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 importslast_img read more

Hadan is RPM Auto Racing Promoter of the Year

first_imgDAYTONA BEACH, Fla. (Feb. 17) – The last of the pictures were being taken this morning and promoter Roger Hadan was already being asked what made Eagle Raceway so successful.Hadan received the Auto Racing Promoter of the Year award for 2013, given by Racing Promotion Monthly, during RPM’s Speedweek national workshop in Daytona Beach. “Racing is something I’m passionate about. Receiving this award is a huge privilege,” said Hadan, who has operated the eastern Nebraska speedplant with wife Michelle since 2006. “The people who make their living running a race track are the real heroes. They do something 99 percent of other people can’t do.” Eagle is the longest tenured IMCA track in Nebraska, sanctioning the IMCA Xtreme Motor Sports Modifieds since 1985. Hadan has since added IMCA Sunoco Hobby Stocks, Karl Chevrolet Northern SportMods, Mach-1 Sport Compacts and, most recently the IMCA Eagle Motorsports RaceSaver Sprint Cars to regular weekly shows.Saturday programs at Eagle have some of, if not the highest weekly car counts in the country. The track is also home to the Sprint Car Super Nationals, which featured drivers from nine states at its inaugural running last year. “We made a major change last year with the RaceSaver Sprint Cars. It made the class more affordable for more drivers,” Hadan said. “I think you have to have affordable classes of racing and that goes back to IMCA, sanctioning with them and using their rules.” The Hadans’ daughter Racine is now part of the management team at Eagle with duties that include social media. Hadan believes that staying connected with fans, drivers and local sponsors has become part of the foundation for the track’s success.He’ll find a place at Eagle to display both the national ARPY and Great Plains Region awards. One of six nominees again in 2013, he’d also won RPM’s regional award in 2011. “This is a group award. It’s not really for one person,” Hadan explained. “Some tracks have employees. We have people who are committed to the sport.”“As all of us at IMCA had hoped, Roger, Michelle and the entire staff at Eagle are really getting recognition they deserve,” said IMCA Vice President of Operations Brett Root. “We couldn’t be more happy for them and to be associated with Eagle Raceway.”last_img read more

Hunt, Gulley display Syracuse’s success in zone-read running in loss to Maryland

first_img Facebook Twitter Google+ If there were any offensive bright spots in Syracuse’s (2-1) 34-20 loss to Maryland (3-1) on Saturday afternoon, they were the legs of Terrel Hunt and Prince-Tyson Gulley.The Orange offense collected 589 yards of total offense — which were nullified by poor red-zone execution and a host of penalties — and Hunt and Gulley combined for 294 yards on the ground. The pair mostly ran out of the zone-read offense, with Hunt either faking to Gulley and running in the other direction or feeding to Gulley if there was room in front.During training camp, offensive coordinator George McDonald said that Syracuse was a run-first team and he reiterated that after the loss. But Hunt’s ejection against Villanova rendered the running game ineffective and SU’s steamrolling of Central Michigan disguised any definitive offensive scheme.That leaves the two-touchdown loss to the Terrapins as the Orange’s offensive barometer, and it hinted to what SU could lean on when it faces No. 8 Notre Dame on Saturday.“I was just playing the game. Sometimes I would read something and if it wasn’t open, I’ll hitch out,” Hunt said. “I knew they were blitzing from a certain side so they were weak on that side so I just took off and tried to make something happen.”AdvertisementThis is placeholder textIn Syracuse’s 40-3 win over the Chippewas, Hunt was successful with his arm and legs and the running game was highlighted by freshman Ervin Philips and senior Adonis Ameen-Moore.But Gulley took a bulk of the carries and Hunt ran almost as often as he threw against the Terrapins, with the quarterback finishing the game with 23 rushes for 156 yards and two rushing touchdowns.“It’s part of being a quarterback. If you can run, why not run,” Hunt said. “If I can help my team out in any way, try to help us win, if I rush for 30, pass for 400, either way, a win is a win. I don’t care.”With 14 carries, Gulley was the only other SU player to rush more than 10 times. Ameen-Moore ran nine times for 68 yards. Gulley ran for 138 yards and 9.9 yards per carry with a 39-yard-long run mixed in.Senior offensive tackle Sean Hickey said that Gulley is easy to block for because he hits holes quickly. It’s his fast first step and small-space explosiveness that led to a 19-yard rush on Syracuse’s first scoring drive, and the 39-yard run that helped move Syracuse into the red zone before the half.“We thought we paved the holes pretty well and he just goes right through it,” Hickey said. “When you give backs like that that space, they make those plays.”Syracuse didn’t give up any sacks, committed no turnovers and had fewer penalties against Villanova and Central Michigan. Each issue surfaced when the competition got tougher on Saturday.McDonald said that Syracuse won’t always be the most athletic team on the field. And with the Maryland game as a more realistic sample size — Syracuse ran 51 times and threw 28 — the offense, successful or not, is reliant on the ground, especially with games against Notre Dame, Louisville and Florida State in the next three weeks.Said McDonald: “At the end of the day we’re always going to be a running team.” Comments Published on September 22, 2014 at 12:11 am Contact Jesse: jcdoug01@syr.edu | @dougherty_jesselast_img read more

AFCON 2013: Ghana drawn in Group B

first_imgThe Black Stars of Ghana have been drawn in Group B for the 2013 Africa Cup of Nations alongside Mali,Niger and DR Congo.Tournament host South Africa are in Group A with Cape Verde, Morocco and Angola.Meanwhile, fellow top seeds and pre-tournament favourites Ivory Coast head Group D, which also contains Togo, Algeria and Tunisia.Defending champions Zambia, are in Group C, arguably the easiest of the draw, which will see Chipolopolo square off against minnows Burkina Faso and Ethiopia, although the group also contains big hitters Nigeria.2013 Africa Cup of Nations Groups:Group A: South Africa, Cape Verde, Morocco, Angola Group B: Ghana, Niger, DR Congo, MaliGroup C: Zambia, Burkina Faso, Ethiopia, NigeriaGroup D: Ivory Coast, Togo, Algeria, Tunisialast_img

Angels Notes: Six-man rotation could prompt search for defensive flexibility

first_imgLAKE BUENA VISTA, Fla. — While the Angels are still debating whether to use a six-man rotation to accommodate Shohei Ohtani in 2018, they are also preparing for the ripple effect that could have on their position player roster.General Manager Billy Eppler said Monday at the Winter Meetings that the Angels are still planning to have seven relievers, which would mean a 13-man pitching staff if they have six starters. That is one more pitcher than normal, which means one fewer position player.“It’s made you kind of reorder the names of different positional categories,” Eppler said. “Which one of these names has more positional flexibility in their back pocket. The ones that do might stand out a little more.”Among the players the Angels still need to acquire are a backup shortstop, a fourth outfielder and a right-handed hitting corner infielder to share time with left-handed Luis Valbuena. The Angels have had discussions this winter with Mike Moustakas, who is the top third baseman on the market, according to a baseball source. The talks aren’t believed to have progressed to any advanced stage. While Moustakas is a natural fit for the Angels, there are few teams looking for an everyday third baseman, so it’s possible the Angels are just waiting for the price to drop. If the Angels could find one player who can fill two of those roles, that would obviously be attractive.“I always put a premium on flexibility, but it might be a little bit more now,” Eppler said.Free agent infielder Eduardo Nuñez or Philadelphia Phillies shortstop Freddy Galvis, who is on the trade block, could both be fits for the Angels. Nuñez is primarily a third baseman, but he can also back up at short. Galvis can play second or third, too.Eppler said the Angels will decide before the start of spring training if they are going to use a six-man rotation. He also said there’s a hybrid scenario in which one of the Angels relievers makes regular spot starts. That would seem to be a job for JC Ramirez.ALSOThe Angels signed outfielder Rymer Liriano to a minor league deal. Liriano was considered a top-100 prospect in 2012 and 2013, but he has not lived up to that promise so far. Liriano, 26, has hit .220 in 167 major league plate appearances, in 2014 with the Padres and 2017 with the Chicago White Sox. “He was a pretty notable prospect,” Eppler said. “We still feel there’s some ability to resuscitate that.” Liriano could make the team as a fourth outfielder. …center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

NFL Draft 2019: Browns draft pick Greedy Williams immediately predicts Super Bowl appearance

first_img NFL Draft 2019: Broncos trade up to get quarterback Drew Lock after fall into second round Just moments after the Browns traded up to get Williams with the 46th pick in the draft out of LSU, the cornerback made a bold prediction.”I know one thing: that the Browns are going to the Super Bowl this year,” Williams said in his introductory press conference. Related News Greedy Williams: “I know one thing: that the Browns are going to the Super Bowl this year.”#Browns— Tom Withers (@twithersAP) April 27, 2019As bold, and somewhat crazy, as this take might be, this might be the one year saying this as a member of the Browns isn’t entirely insane.Several pundits are already picking the Browns to win the AFC North and certain ones are certainly picking them to get to the playoffs, so Cleveland has some good mojo going into this season.And when you pair Williams with 2018 first-round pick Denzel Ward, the Browns have two very good cover corners to help out their defense.And as general manger John Dorsey said, he got Williams to patrol the outside, he doesn’t worry about some tackling questions, which resulted in the corner’s drop into the second round.”I came into work today with the intent of drafting the best player available,” Dorsey said. Greedy Williams may be getting a bit too greedy, if you know what we’re saying.OK, that was an obvious decision to get a pun into a lede, but seriously, Williams isn’t beating around the bush about what he thinks the Browns can do this year.center_img NFL Draft 2019: Analyst says ‘it might take years’ for Giants to recover from first round He continued: “Corners are paid to cover. And then the tackling aspect — just get the guy down.”Williams may have been bold in his prediction, but things are going right for Cleveland right now with Baker Mayfield, Odell Beckham Jr. and Myles Garrett.This may not be as crazy as it sounds.last_img read more

Kwakwani teen nabbed hours after robbing Chinese restaurant

first_imgTwo armed men carried out a brazen robbery on a Chinese restaurant at Kwakwani, Upper Berbice, in the wee hours of Monday, carting off with close to $700,000 in cash.Based on information gathered, the incident occurred at about midnight after the owner of the restaurant, 47-year-old Huang Yahgng, ventured to the customers’ washroom located in a section of his restaurant.The suspects, who were armed with cutlasses, reportedly sneaked behind the restaurant counter and allegedly removed $700,000 from a drawer before making good their escape.The police were summoned to the scene and went in pursuit of the bandits but they escaped. The police had recovered a cutlass and a part of black Levi slippers at the scene.The police have since confirmed that one of the bandits was identified as a 17-year-old Kwakwani resident. He was later arrested at a popular drinking spot in the area but none of the stolen money was found in his possession. The police are on the hunt for the other suspects.last_img read more

Venus wins three-set thriller against Azarenka

first_img0Shares0000Venus Williams’ superior accuracy in the opening stages gave her the first set © AFP/File / GIUSEPPE CACACEAUCKLAND, New Zealand, Jan 1 – The ageless Venus Williams launched her 25th year as a professional by outlasting Victoria Azarenka in a three-set thriller on day two of the WTA Auckland Classic Tuesday.In the showdown between the two former world number ones, the 38-year-old Williams overcame Azarenka, nine years her junior, 6-3, 1-6, 6-3. The two hour 10 minute marathon was packed with power and precision, and in the end Azarenka’s nine aces were not enough.Williams’ superior accuracy in the opening stages gave her the first set, before Azarenka took the second by blasting winners as she moved her opponent from side to side.In the deciding third set there were two breaks by each player in the first six games before Williams opened a gap to go 5-3 up when Azarenka was wide with a cross-court forehand. The American then served for the match.“I love my job, I love what I do but tonight was not easy and maybe one of the toughest first rounds I’ve ever played,” Williams said, adding it was what she needed to start the year.“My goal was to get past the first round, did you see who I had to play, and we need these matches going into the Australian Open,” she said, referring to the year’s first Grand Slam which begins in just under two weeks.“Now I’m hoping the next round will be fruitful for me.”Defending champion Julia Goerges coasted through her first match with a 6-0, 6-4 win over Sweden’s Johanna Larsson, while fifth seed Barbora Strycova was forced into a three-set battle to survive Taylor Townsend.Strycova raced to a 5-1 lead over Townsend before the American lifted her game to force the match to a deciding set in which the Czech prevailed, to win 6-2, 6-7 (5/7), 6-3.“It was very tough, I thought I was playing well at the beginning and she couldn’t find the court in the first set,” Strycova said.“But then she started to serve better and with the wind and (her) a lefty, this mix wasn’t good for me and I couldn’t close it up at the end of the second set.”Fourth seed Petra Martic and injured eighth seed Alison Van Uytvanck both bowed out in the first round.American Sofia Kenin produced the first upset of the tournament when she knocked out Martic 7-5, 2-6, 6-2.Van Uytvanck retired with an ankle injury when leading Dutch qualifier Bibiane Schoofs 4-3 in the first set.Top seed Caroline Wozniacki will make her first appearance on Wednesday after a weather-delayed flight from Florida saw her match against Laura Siegemund of Germany pushed back a day.0Shares0000(Visited 1 times, 1 visits today)last_img read more

A SOLEMN PLACE

first_img“I stood in the park 8 years ago, and I wished I could do something for everybody impacted by Columbine,” said Kirsten Kreiling, a member of the memorial planning committee. “All of us were heartsick, and all of us were deeply troubled by what happened at Columbine.” The $2 million memorial consists of a broad oval sunken into the rolling park terrain, sheltered from the breeze that usually blows down from the high mountains on the horizon. The outer wall is called the Ring of Healing. A smaller interior circle formed by a lower wall is called the Ring of Remembrance. Both are built of red stone. “It’s its own place,” said Paul Rufien, a memorial committee member. “It gets quieter once you get in there.” Dawn Anna, whose daughter Lauren Townsend was killed at Columbine, said the memorial would give people a place to remember the lives lost that day. “Remember how their impish smiles could light up a room. Close your eyes; close your eyes. Feel the breeze against your face. They’re here, kissing you, reminding you that they’re always near with everything you do, reminding you of their inner strength,” said Anna, who was chosen to speak for the victims’ families. Messages from the 13 victims’ immediate families are inscribed in the inner wall. One, by Brian Rohrbough in memory of his son Daniel, ties the 1999 shootings to abortion and moral decline, and accuses public officials of lies and cover-ups. The memorial committee asked Rohrbough to soften the tone of his words, but he refused, and the organizers eventually accepted them as written. “It was the way he wanted to remember his son,” Rufien said. “So yes, that’s the place for it, and that’s where it will be.” Rufien said the memorial is meant to nurture memories. “We’re going out of our way to avoid the word closure because closure sounds like we mean forgetting. This place is about remembrance,” he said. Two impromptu memorials sprang up in Clement Park immediately after the shootings. At one – where the permanent memorial now stands – 13 wooden crosses bore the names of the victims. At another, well-wishers left mounds flowers, books, teddy bears and other keepsakes. Some of those items are archived in museums, Rufien said. Planning for a permanent memorial started two months after the shooting. Organizers originally envisioned a $2.5 million project, but fundraising was slow, and much of the community’s energy was focused on more immediate needs, including rebuilding the school library where many victims were shot. The task of raising money was also made more difficult by an economic downturn and by the 2001 terrorist attacks, a southeast Asian tsunami, Hurricane Katrina and other tragedies that dominated potential donors’ attention. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! By P. Solomon Banda THE ASSOCIATED PRESS LITTLETON, Colo. – Hundreds of people gathered under blue autumn skies Friday to dedicate an expansive hillside memorial to the Columbine High School massacre victims, after more than eight years of money struggles and occasional disputes. The placid, stone-walled oval nestled in Clement Park is next to the suburban Denver school where two student gunmen killed 12 classmates and a teacher before killing themselves on April 20, 1999, plunging the community into mourning and disbelief. last_img read more

FANCY A DIP IN COSTA DEL COUNTY DONEGAL ALEXANDRA?

first_imgLOOKS like our sunny and warm weather will continue until Tuesday at least.And despite some mid-week showers, the Bank Holiday weekend could be very hot again, according to long-term forecasts.So will Alexandra Burke, star of last night’s Donegal Live, be heading for a dip off Donegal today. She could do worse that Costa del Rossnowlagh?Or Costa del Rathmullan (pictured below).Temperatures are officially expected to hit 22C on Saturday as the Sunny North West continues to outshine the rest of Ireland.They will fall to around 18C on Tuesday and Wednesday before picking up again later in the week, says Met Eireann. All a lot better than it was a few days ago! FANCY A DIP IN COSTA DEL COUNTY DONEGAL ALEXANDRA? was last modified: May 26th, 2012 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:FANCY A DIP IN COSTA DEL COUNTY DONEGAL ALEXANDRA?last_img read more