Private consumption, which accounts for more than half of Japan’s economy, fell 0.8 percent compared with the preliminary 0.7 percent decline, as solid demand for daily necessities was offset by declines in spending on services.Net exports – or exports minus imports – subtracted 0.2 percentage point from revised GDP growth, as the coronavirus slammed global demand.Analysts are forecasting the economy will suffer an annualised contraction of more than 20 percent in April-June as Prime Minister Shinzo Abe announced a state of emergency and requested citizens to stay home and businesses to close to prevent the virus spreading.Although the emergency was lifted in late May, the economy is expected to recover only moderately in coming months due to the pandemic’s sweeping impact globally and at home.The Bank of Japan is likely to maintain this month its projection that the economy will gradually recover from the damage in the latter half of this year, sources said.The BOJ eased monetary policy for two straight months in April, joining government efforts to cushion the blow from the pandemic. The government has compiled two stimulus packages worth a combined US$2.2 trillion.Topics : The revised data confirmed Japan had slipped into recession for the first time in 4-1/2 years, after a 7.2 percent contraction in October-December, pressured by last year’s sales tax hike and the US-China trade war. Recessions are defined as two straight quarters of contraction.On quarter-on-quarter basis, the economy contracted 0.6 percent in the first quarter compared with an initial reading of a 0.9 percent decline.Business spending showed gains after the finance ministry’s survey earlier this month, which was used to calculate the revised gross domestic product, drew fewer respondents than usual. Spending is expected to falter in coming months.Capital spending rose 1.9 percent from the previous quarter, reversing from a preliminary 0.5 percent fall. Japan’s economy shrank less than initially estimated in the first quarter but the broad impact from the coronavirus crisis is still expected to send the country deeper into recession.A series of recent April data including exports, factory output and jobs figures suggested Japan is facing its worst postwar slump in the current quarter as the outbreak forced people to stay at home and businesses to close globally.The world’s third-largest economy shrank an annualised 2.2 percent in January-March, revised data showed on Monday, less than the 3.4 percent contraction indicated in a preliminary reading and compared with a median market forecast of a 2.1 percent drop.
Category: fdtnwcmtdulfdxvp Arsenal to launch bid to sign Juventus centre-half Daniele Rugani on loan
Arsenal to launch bid to sign Juventus centre-half Daniele Rugani on loan Metro Sport ReporterSunday 28 Jul 2019 11:48 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link4.8kShares Daniele Rugani has emerged as a transfer target for Arsenal (Picture: Getty)Arsenal are set to launch a bid to sign Juventus defender Daniele Rugani on loan.With club captain Laurent Koscielny effectively on strike and Rob Holding unlikely to make his first team return after 10 months out with a knee injury until the end of September, Unai Emery remains in desperate need of defensive reinforcements, despite a recent flurry of transfer activity.The signing of Dani Ceballos on a season-long loan from Real Madrid was confirmed on Thursday, while Arsenal are growing increasingly confident of prising Kieran Tierney from Celtic.Nicolas Pepe is expected to arrive from Lille in a club-record £72million deal next week, but William Saliba represents the only defensive signing the club has made so far this summer and the French teenager has, in any case, been immediately loaned back to Saint-Etienne.AdvertisementAdvertisementADVERTISEMENTMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City Comment The fitness of Georgio Chiellini could impact on Arsenal’s hopes of signing Daniele Rugani (Picture: Getty) Matthijs de Ligt could restrict first team opportunities for Daniele Rugani at Juventus (Picture: Getty)According to Turin-based Corriere Torino, Arsenal will now turn their attentions to Rugani, whose first team opportunities are likely to be restricted by the presence of Matthijs de Ligt who signed from Ajax earlier this month.Rugani made 20 appearances in all competitions for Juventus last season and is valued at around €40m.Arsenal are unlikely to be able to raise the funds for a permanent transfer but will explore the option of a loan deal, but that could reportedly hinge on the fitness of veteran Giorgio Chiellini who is currently nursing a calf injury.Chelsea were reported to have made an ‘unthinkable’ offer for Rugani last summer with Maurizio Sarri, now in charge of Juventus, having identified the centre-half as a top talent during his spell at Empoli.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal Advertisement Advertisement
Category: fdtnwcmtdulfdxvp ATP doubles nine-month return as equities surge
Christian Hyldahl, ATPHyldahl told IPE that the pension fund’s investment team was continuing to focus on illiquid assets such as infrastructure and real estate.“We announced the transaction involving Copenhagen airport recently and this investment will go through in the fourth quarter hopefully,” he said. “We are looking at this type of investment that can generate an extra return.”There was a danger when investing in alternatives that investors that were last in the queue could end up with poorer deals, Hyldahl warned.“But if you are patient and thinking long-term in your sourcing of these deals, you can do well,” he added.The pension fund was screening hundreds of illiquid asset deals but was only likely to complete around 10, the CEO said.ATP said listed Danish equities were major performance contributors in the January-to-September period, generating a return of DKK5.3bn.Hyldahl added that the pension fund had performed well in three underlying equity classes, including international and unlisted equities.ATP said the value of its guaranteed benefits fell by DKK17.7bn between January and September, mainly because of rising interest rates in Europe.However, its hedging portfolio had made a loss alongside this of DKK16.4bn, which meant the hedging strategy had been successful, it said.ATP’s investment portfolio consists of its bonus potential, or free reserves, which totalled DKK120.2bn at the end of September.The pension fund’s overall assets – which include its huge hedging portfolio designed to back pension promises – dipped to DKK758.1bn at the end of September from DKK759.2bn at the end of December 2016. Christian Hyldahl, ATP’s chief executive, struck a note of caution despite the strong return.“The outlook is for lower returns in the future as central banks tighten liquidity and raise interest rates,” he said. “While global economic growth seems to be firmly on track, geopolitical uncertainty has increased.”ATP had leeway to take risks, Hyldahl said, but would do so based on an “extremely disciplined” approach to both portfolio construction and risk management to make sure it produced satisfactory results in the long term despite the expected low-return environment. Denmark’s ATP doubled its investment return in the first nine months of 2017 compared with the same period last year, with strong equities performance driving profits.In its interim results for January to September, the giant statutory pension fund said its investment portfolio produced a DKK24.6bn (€3.3bn) return before tax and expenses, equivalent to a rate of return of 24.4%.This was nearly twice the DKK12.5bn return made on the portfolio in the first nine months of 2016.ATP said the return was achieved broadly across the portfolio, but was driven in particular by equity investments.
Category: fdtnwcmtdulfdxvp UK asset management body announces first head of European affairs
Woelfing previously held the position of regulatory and legal specialist at the IA and is a member of the financial stability and prudential requirements working group at Efama, the Brussels-based trade body for EU fund and asset managers. He has also been a political advisor at the European Parliament, and originally trained as a lawyer in Germany.Chris Cummings, the IA’s CEO, said: “With more than £1.4trn of European assets managed in the UK, a figure that is growing every year, it is essential that the IA has a more permanent voice in Brussels that can help represent our industry and the clients they serve at a European level.”Woelfing’s experience would be valuable “to ensure the asset management industry’s voice is better understood by policy makers and regulators in Europe,” he added. The trade body for UK asset managers has created – and filled – the position of head of European affairs as part of its move to establish permanent representation in Europe.Johannes Woelfing, who has been with the Investment Association (IA) for four years, has been appointed to the role and will be the association’s main representative in Brussels as of September.He will be responsible for the IA’s policy work with regards to the European Union and for setting up the association’s Brussels office.A spokeswoman for the IA said the move was not directly related to the UK’s departure from the EU and was part of the association’s long-term strategy for it to have representation reflecting its members’ reach.
Category: fdtnwcmtdulfdxvp Joseph Mariathasan: Coping with autocracies
Credit: Jorge GryntyszOnline film streaming service Netflix drew criticism for removing content at the request of Saudi ArabiaCritics argue that such companies should be prepared to uphold the values of liberal democracies and should not bow to pressure to amend business practises to cater for local requirements. For investors focused on incorporating environmental, social, and corporate governance (ESG) criteria, deciding on what should be reasonable behaviour is an issue that deserves wider debate.It is somewhat hypocritical to decry the behaviour of the modern social media titans when set against the behaviour of the older behemoths of the stock market throughout the last century.Perhaps the most egregious was IBM supplying tabulating machines to the Nazis in the 1930s, which allegedly helped in the genocide of European Jews – as reported by Edwin Black in his 2001 book ‘IBM and the Holocaust: The Strategic Alliance Between Nazi Germany and America’s Most Powerful Corporation’.Stakeholders versus shareholdersThe fundamental issue for investors is to decide to what extent companies should be driven by the philosophy espoused by Milton Friedman: that the only social responsibility of a business is to use its resources to engage in activities designed to increase its profits, so long as it stays within the rules of the game.The problem with this argument is that it justifies the reported actions of IBM – as well as the sale of any weapons or destructive substances, provided they are within the law.Should companies refuse to deal with regimes that are deemed to be inimical to the liberal values of free speech and democracy? It would certainly seem an attractive way forward, but would rule out dealings with a large fraction of the globe, including “allies” such as Saudi Arabia.To espouse the ideals of ESG investing is to promote the idea that it is all stakeholders that matter. Company management needs to bear this in mind in its actions.The pendulum does appear to be swinging back towards the idea of stakeholder value, rather than solely shareholder value maximisation. Some commentators – such as Columbia University’s Jeffrey Sachs in this letter to the FT from October 2018 – argue that the future of the planet depends on such a shift.Perhaps a distinction can be made between actively supplying goods and services intended for questionable purposes, and passive acquiescence when faced with laws that deny the supply of goods and services that could promote liberal values. Both may be unacceptable to idealists, but clearly the former is in a different league to the latter.On those grounds, it is the providers to Saudi Arabia of arms being used in a destructive and pointless war in Yemen that should be criticised, and not a company that declines to supply something on the grounds that it has been told it is illegal to do so.When US president Donald Trump declared that he would not punish Saudi Arabia or crown prince Mohammed bin Salman for the murder of Washington Post journalist Jamal Khashoggi, as it would impact US weapons sales to the country, perhaps it demonstrated that there were greater issues of concern for ESG activists than US social media companies.Further readingLong Term Matters: What do Facebook’s investors care?Long Term Matters: What should investors do about authoritarian governments? (The video is still available on YouTube.)Countries such as China and Saudi Arabia have values and laws that are often different to those of liberal democracies. This poses a challenge to international technology companies such as Facebook and Google. Earlier this month, Netflix pulled an episode of Patriot Act, presented by Arab-American comedian Hasan Minhaj, in response to objections by Saudi Arabia.As the episode was essentially a diatribe against the Saudi ruling family, the fact that the country raised objections was not a surprise. But should Netflix have acceded to its demands?Netflix stated that its actions were in response to a “valid legal request”. Saudi Arabia claimed it contravened Article 6, paragraph 1 of Saudi Arabia’s Anti-Cyber Crime Law, which forbids “production, preparation, transmission, or storage of material impinging on public order, religious values, public morals, and privacy, through the information network or computers”. The penalty is up to 5 years in prison.Presumably if Netflix had refused to pull the episode in Saudi Arabia the company’s operations there would have been closed down. For shareholders, it would not have made any significant difference given the size of the market, and conceivably such an act of “virtue signalling” might have brought benefits, as others have found. Netflix chose not to go down this path but, by doing so, it attracted considerable criticism.
Category: fdtnwcmtdulfdxvp Answering Advocates of Gay Marriage
Katherine Young and Paul Nathanson. “Marriage-a-la-mode: Answering Advocates of Gay Marriage.” Paper presented at Emory University, Atlanta, GA (May 14, 2003). Katherine K. Young is professor of the history of religions in the Faculty of Religious Studies at McGill University where she teaches in the areas of comparative religion, gender, ethics, and Hinduism. Paul Nathanson, a researcher in the same faculty, is a freelance editor and author of Over the Rainbow: The Wizard of Oz as a Secular Myth of America.Claim 1: Marriage is an institution designed to foster the love between two people. Gay people can love each other just as straight people can. Ergo, marriage should be open to gay people.Claim 2: Not all straight couples have children, but no one argues that their marriages are unacceptableClaim 3: Some gay couples do have children and therefore need marriage to provide the appropriate context.Claim 4: Marriage and the family are always changing anyway, so why not allow this change?Claim 5: Marriage and the family have already changed, so why not acknowledge the reality?Claim 6: Children would be no worse off with happily married gay parents than they are with unhappily married straight ones.Claim 7: Given global overpopulation, why would anyone worry about some alleged need to have more children in any case?Claim 8: Marriage should change, whether it already has or not, because patriarchal institutions are evil.Claim 9: Gay marriage has had historical and anthropological precedents.Claim 10: Banning gay marriage is like banning interracial marriage.Claim 11: The case for gay marriage is more “poignant” than the case against it.Claim 12: Gay marriage is necessary for the self-esteem of a minority.Claim 13: Anyone who opposes same-sex marriage is homophobic.Claim 14: Exceptions could be made for religious communities that disapprove of gay marriage, or religious communities could simply add their rites to those of the state.Claim 15: To sustain an “ethic of caring and responsibility,” we must include gay people in every institution.Claim 16: Norms of any kind at all are discriminatory.Claim 17: Almost everyone believes in equality. How can we have that if gay citizens are denied the same rights as other citizens?Claim 18: Winning the struggle for gay marriage is important for the cause of gay liberation.Claim 19: What about majority rule in democratic countries?Claim 20: But gay people are a small minority. Allowing them to marry would mean nothing more than a slight alteration to the existing system and would even add support for the institution. What’s all the fuss about?http://catholiceducation.org/articles/sexuality/ho0064.html#04
Category: fdtnwcmtdulfdxvp Franklin County Community Foundation helps the hungry
Brookville, Ind. — The Franklin County Community Foundation awarded “Hoosiers Feeding the Hungry’s Meat the Need program $3,000. The funds will be used to pay for the processing of donated game and livestock animals.Hunters and farmers can make donations at any participating area meat processor. Donations will be processed, packaged and frozen for distribution to local hunger relief agencies.“The funds provided by the Community Foundation will pay for approximately 2,300 pounds of donated large game and livestock in Franklin County, which will then be distributed to area hunger relief agencies – providing meals to almost 24,370 households in need within Brookville and surrounding areas.” Hoosiers Feeding the Hungry’s Executive Director, Deb Treesh said.Statistics indicate 1 out of 4 Hoosier households with children struggle to have enough food to feed their family and 30 percent have to choose between paying bills or buying food.For more information go online to hoosiersfeedingthehungry.org./.
Category: fdtnwcmtdulfdxvp UWF Hosts Spring Hill in Home Finale
April 23, 2007PENSACOLA, Fla. – West Florida (34-15) will round out their home schedule Tuesday night at Pelican Park in a 6:30 p.m. start against Spring Hill College (16-33). The Argonauts hope to swing their momentum from last weekend’s triumphant performance at sixth ranked Columbus State into Tuesday night’s clash with the Badgers.West Florida won two-of-three games at Columbus State on Friday and Saturday. The series win moved UWF back into the NCAA II Collegiate Baseball Newspaper Top 30 at #25. The Argos won the first two games, 5-2 and 7-4, while dropping game three’s seven inning affair, 4-1. Bo Williams had five RBI in the series, including a game winning three-run homer in Friday night’s win. Starter Brett McCullough got the win in a complete game effort. Jon Sintes got the win in game two in five innings of work. Phil Lawhorn picked a four-inning save. Daniel Jones went 4-for-11 with an RBI in the series.Spring Hill is an NAIA affiliated school in the Gulf Coast Athletic Conference. The Badgers are 5-22 in the GCAC. They were swept in a three game series at William Carey University last Friday and Saturday. They are led by Rick Havens who is batting .279 with 35 RBI, four home runs and 12 doubles. Drew Sims is hitting .427 in 110 at-bats. The Badgers’ pitching staff has a 4.24 ERA.West Florida has a 37-12 record against Spring Hill all-time. In their last meeting, UWF defeated SHC in 2005, 7-1.Listen live on AM 1620 or on the baseball page at goargos.com. Pensacola Pelicans’ broadcaster Jay Burnham and West Florida sports information director Jake Fish will have all the action live at 6:30 p.m. Also, follow the game using “Live Stats” at goargos.comPrint Friendly Version Share UWF Hosts Spring Hill in Home Finale
Category: fdtnwcmtdulfdxvp Football Tickets For Southeastern Indiana Day At Lucas Oil Stadium On Sale
The Batesville Bulldogs will travel to Indianapolis on Saturday, Sept. 7, to play football at Lucas Oil Stadium. The Bulldogs will play the South Dearborn Knights at 5:30 p.m. The game was originally scheduled for Friday, Sept. 6. The BHS band will also get an opportunity to perform at halftime of the game. It is sure to be an exciting day with three other EIAC games being played that day. The first game starts at noon with Greensburg versus Connersville followed by Franklin County against Rushville. The final game will feature Milan taking on Lawrenceburg.Tickets are now on sale in the BHS athletic office for a discounted price of $12. Tickets at the gate on the day of the game will be $15. Tickets are now on sale in the Milan athletic office for a discounted price of $12. Tickets at the gate on the day of the game will be $15. They will also be sold at this Football Friday Night’s game against Rushville and next week’s game at Batesville.Stop by and get your tickets before they run out!Courtesy of Bulldogs Coach Bryan Helvie and Indians Coach John Prifogle.
Category: fdtnwcmtdulfdxvp Bolivia ask to join South American bid to host 2030 FIFA WC
Montevideo: Bolivia has formally expressed interest in joining a South American bid to host the 2030 FIFA World Cup, which will mark the centenary of football’s showpiece tournament.Bolivian sports minister Tito Montano presented his country’s request to be added to a candidacy involving Argentina, Chile, Paraguay and Uruguay on Wednesday.“We have submitted the motion to be part of the candidacy for the 2030 World Cup and we hope that it can be accepted,” Montano told reporters after a meeting of the bid’s organising committee in the Uruguayan city of Maldonado. He added that Bolivian President Evo Morales had already outlined the proposal in a letter sent to the presidents of the other nations.South American bid coordinator Fernando Marin said the organising committee held “cordial discussions” with Bolivian officials earlier on Wednesday. But he said any decision on whether to include Bolivia in the candidacy would depend on the corresponding “heads of state”.The announcement came less than a week after Chile became the fourth country to be added to the candidacy. Argentina and Uruguay originally announced a wish to host the event two years ago before Paraguay was added to the bid in October 2017.Chile staged the World Cup in 1962 and the last time the competition was held in South America was in Brazil five years ago.Argentina hosted it in 1978 while Uruguay have not held the quadrennial event since the inaugural edition in 1930. Paraguay and Bolivia are aiming to be hosts for the first time. The South American effort faces competition from a British-Irish bid and a group comprising Morocco, Algeria and Tunisia. IANSAlso Read: Sports News