Asian markets extend falls as coronavirus spreads

first_imgFutures now imply a full 50 basis point cut by the Fed in March  while Australian markets are pricing in a quarter-point cut at the RBA’s Tuesday meeting.In equities, e-minis for the S&P500 declined more than 1 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3 percent.Japan’s Nikkei opened 1.3 percent lower at a six month trough. Australia’s S&P ASX/200 fell 3 percent and New Zealand’s NZ50slid 3 percent into correction territory.Benchmark US 10-year Treasuries hit a fresh record low of 1.0750 percent. “There had been a lot of hope that today’s market might open somewhat positive given the finish to the US market,” said Jun Bei Liu, portfolio manager at Tribeca Investment Partners in Sydney, referring to Friday’s late climb from intraday lows on Wall Street.“But the China PMI was significantly weaker than expected, and so we’re seeing the continuation of the sell off,” she said.“Right now the problem is (the virus) is growing exponentially (beyond China), as an equity investor we’re just not sure of what the ultimate demand impact is.”Leaders in Europe, the Middle East and the Americas rolled out bans on big gatherings and stricter travel restrictions over the weekend as cases of the new coronavirus spread.The epidemic, which began in China, has killed almost 3,000 people worldwide as authorities race to contain infections in Iran, Italy, South Korea and the United States.China on Saturday reported its fastest ever contraction in factory activity.“It is now highly probable that the coronavirus will spread globally,” Citi analysts said in a note“Financial markets may over-react until they have visibility on the actual impact.”Investor panic last week sent bonds soaring and stocks plunging. The S&P 500 index fell 11.5 percent, only its fifth double-digit weekly percentage drop since 1940.Oil prices dropped to their lowest in more than a year and even gold plunged as holders liquidated what they could to cover margin calls on riskier investments.On Monday, oil extended losses before steadying on expectations OPEC may cut production.Brent crude last traded at $49.72 per barrel and US crude at $44.89 per barrel.In currencies, investors sought shelter in the Japanese yen, which jumped to a 20-week high on the dollar in tandem with the massive shift in money markets to price US rate cuts.All of this leaves just about every major asset class on edge and few analysts sounding optimistic.“So it was right not to ‘buy the dip,’” said Michael Every, Rabobank’s senior strategist for the Asia-Pacific.The yen was last up 0.3 percent at 107.74.The Aussie huddled near an 11-year low at $0.6551, while the New Zealand dollar slid 0.3 percent to $6225.The euro was up 0.3 percent at $1.1054.That left the dollar index steady at 97.957.China’s Caixin Purchasing Managers Index (PMI), due at 01:45 GMT, and PMI figures from around the world due later on Monday will add more detail to the picture of economic pain.Later in the week, central bank meetings in Australia, on Tuesday, and Canada, on Wednesday, will be closely watched.Topics : The rout in world stocks deepened on Monday, with investors rattled by weekend data from China that showed its fastest ever contraction in factory activity, raising fears of a global recession from the coronavirus.Pandemic fears pushed markets off a precipice last week, wiping more than US$5 trillion from global share value as stocks posted their steepest slump in more than a decade.The sheer scale of losses has prompted financial markets to price in policy responses from the US Federal Reserve to the Bank of Japan and the Reserve Bank of Australia.last_img read more

Peru surpasses 200,000 coronavirus infections: Health ministry

first_imgPeru emerged as a global COVID-19 hotspot on Tuesday as the health ministry registered more than 200,000 cases, ranking the South American country as the eighth-highest in the world by number of infections.The death toll rose to 5,738 and the total number of infections climbed to 203,736, an increase of more than 4,000 cases from the previous day. The ministry said 167 people had died from COVID-19 in the past 24 hours. Topics : The figures show Peru as second only to Brazil as Latin America’s worst-affected country by number of overall cases, and third after Brazil and Mexico in terms of deaths.The economy, one of the region’s highest performing until February, has largely ground to a halt during a 12-week lockdown ordered by President Martin Vizcarra. Textile unions have demanded the government begin opening up the industry so production and exports can resume.Peru’s GDP contracted by 3.4 percent in the first quarter of 2020.The country’s first case was detected on March 6 and Vizcarra declared a compulsory national confinement 10 days later, shuttering borders and imposing nighttime curfews.last_img read more

Rich-lister’s luxury Gold Coast unit fetches multimillion-dollar price

first_img1901/11-13 Hill Pde, Main Beach.Mr Quinn made his fortune from his family’s VIP Petfoods empire, selling it for $410 million in 2015.The family’s $200 million sale of Darrell Lea to Quadrant Private Equity followed earlier this year.The family operates motorsport facilities and other businesses, including popular entertainment centre Game Over at Helensvale.They have been a heavy hitter in the Gold Coast property scene over the years.They recently sold an art deco-style mansion at Tamborine Mountain for $5.5 million in 2016 and have also owned property at Broadbeach Waters. 1901/11-13 Hill Pde, Main Beach. Tony Quinn sold his Main Beach apartment for a multimillion-dollar price.RICH-lister Tony Quinn has sold his luxury Gold Coast apartment for a sweet multimillion-dollar price an hour before it was due to go under the hammer.The 19th floor apartment in Main Beach’s Axis building sold yesterday.Ray White Prestige agent Jackson Paradise, who marketed the property, wouldn’t disclose the sale price but confirmed it sold. 1901/11-13 Hill Pde, Main Beach.More from news02:37International architect Desmond Brooks selling luxury beach villa17 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoHe said Mr Quinn was a private man so didn’t want to share any details of the sale.Mr Quinn, who made a $175 million killing on the sale of iconic lolly icon Darrell Lea, listed the luxury apartment last month.The 320sq m residence has three ensuited bedrooms, a home office, five balconies and panoramic skyline, Hinterland and ocean views.It was scheduled to go to auction yesterday at 11am.Property records show the Quinn family bought the apartment for $2.62 million in 2006.The listing came four months after the entrepreneur splashed $3.4 million on a Byron Bay retreat. 1901/11-13 Hill Pde, Main Beach.last_img read more

EU watchdog spearheads preparations for ‘no deal’ Brexit

first_imgESMA was planning negotiations with the FCA with the aim of having the agreements in place “sufficiently on time” before the end of March 2019, he said.Earlier in his speech Maijoor had emphasised the particular nature of the data that was exchanged on a daily basis between the UK and the rest of the EU under MiFID II. It was “extensive and granular” and “goes far beyond the data exchange we typically have with third countries”. UK clearing access must continueMaijoor also emphasised the importance of EU-based financial market participants continuing to be able to trade derivatives in the UK in the event of a no-deal Brexit.Central clearing of derivatives was generally considered to be the securities markets area entailing the highest stability risks in the event of ‘no deal’, he said, and EU clearing members and trading venues needed to continue to have access to central clearing houses (CCPs) in the UK.Maijoor said continued access was in line with proposed amendments to the current regulatory regime, for which he urged a “swift conclusion”.This, however, should be “complemented by a transitional provision allowing for the continued access to UK-based CCPs, subject to conditions ensuring that UK CCPs continue to comply with EMIR requirements and [regulators] continue to monitor this compliance”.The FCA has previously said as much as £26trn (€29trn) worth of derivatives contracts could be negatively affected by Brexit. The EU’s financial markets watchdog is working to ensure the bloc’s regulators have agreements in place with the UK’s Financial Conduct Authority (FCA) in the event of the UK leaving the EU without a withdrawal deal.Speaking at a conference in Athens yesterday, Steven Maijoor, chair of the European Securities and Markets Authority (ESMA), said that, in case of a ‘no deal’ Brexit, national securities markets regulators and ESMA itself should have with their UK counterparts the same type of agreements – memoranda of understanding (MOU) – as they had with a large number of regulators in non-EU countries.“These MOUs are essential to meet our regulatory objectives and allow information exchange for effective supervision and enforcement, for example for market abuse cases,” said Maijoor.He added that the watchdog had already coordinated preparations for MOUs with regulators in the EU27 – the 27 member states that will comprise the EU upon the UK’s departure.last_img read more

Gold Coast family home ideal for those who love summer

first_img5 Boambee Court, Reedy Creek. 5 Boambee Court, Reedy Creek. 5 Boambee Court, Reedy Creek. The home’s open living spaces flow onto a large alfresco area and deck.Laze by the pool with a cocktail or put the built-in pizza oven to work.Owners Kristian and Leanne Carter have made good use of the outdoor areas since moving into the property from Sydney about three years ago.“(It was) a lifestyle change we moved up here for,” Mr Carter said. Margot Robbie’s mum selling Gold Coast home 5 Boambee Court, Reedy Creek. 5 Boambee Court, Reedy Creek. Address: 5 Boambee Court, Reedy Creek Agent: Rudy G, LJ Hooker Palm Beach Features: Heated pool, outdoor entertainment area with built-in pizza oven, study, theatre room, gas fireplace, multiple balconies, spa, “man cave” Area: 728sq m Price: $1.1 million – $1.2 million Inspections: Contact agentVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhy location is everything in real estate01:59center_img 5 Boambee Court, Reedy Creek – relax by the pool.INDULGE in the resort lifestyle year round.Surrounded by tropical gardens and designed to make the most of outdoor entertaining, this Reedy Creek property is ideal for those who love summer. The outdoor area is a standout feature of the three-storey house but certainly not its limit.More from news02:37International architect Desmond Brooks selling luxury beach villa15 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoNeutral tones give the house a fresh look with wood featured heavily throughout.There are three bedrooms on the ground floor plus a study and theatre room.The kitchen has stainless steel appliances and stone benches while a gas fireplace forms the centrepiece of the loungeroom, which also has a balcony.The top floor is dedicated to the main bedroom, which has an ensuite with spa, walk-in wardrobe and balcony. 5 Boambee Court, Reedy Creek. A double garage takes up most of the lower level, which also has a “man cave”.“The man cave garage is my favourite room, for sure,” Mr Carter said.They were reluctant to sell the house but needed to be closer to the northern Gold Coast.“It’s always hard to leave a house or car, anything that’s nice,” Mr Carter said. Prime Coast real estate in hot demand 5 Boambee Court, Reedy Creek.last_img read more

Balticconnector Offshore Pipeline Complete

first_imgThe Balticconnector project’s offshore pipeline, stretching from Inkoo to Paldiski, has been completed. Baltic Connector Oy informed that out of the five worksites of the project, the offshore pipeline was the first one to reach completion.Environmental considerations, the seabed’s formation, ship routes, and crossing structures were taken into account during the planning stage of the pipeline. The concrete-coated pipeline installed on the seabed has been partly covered with quarry stones.Pressure tests have been carried out for the offshore pipeline, followed by emptying and drying the pipe to enable gas transmission. The planned service life of the pipeline is 50 years.“Completing the offshore pipeline work on schedule is an excellent example of the good cooperation between all parties. I would especially like to thank the neighbours living near the worksite for their cooperation,” said Tom Främling, project director.The Balticconnector gas pipeline is due to be commissioned by the end of 2019.“The expertise and ambition of our personnel and partners ensure that everything will be ready for gas to flow between Finland and Estonia at the end of 2019. The completion of the offshore pipeline is one of the most important milestones in the journey towards opening the gas market,” added Herkko Plit, the president and CEO of Baltic Connector Oy.Once completed, Balticconnector will connect the gas infrastructures of Finland and Estonia and enable the opening of the countries’ gas markets in practice.last_img read more

Moorhead, Clay County form Joint Powers Authority

first_imgThe City of Moorhead and Clay County, MN, have formed a Joint Powers Authority (MCCJPA) to reaffirm their support and involvement in the implementation of the Fargo-Moorhead Area Diversion Project. The MCCJPA had its first meeting on August 14 at the Clay County Courthouse.“The MCCJPA’s primary objectives include the responsibility to acquire necessary property rights in Minnesota for construction and operation of the Project and to pursue additional funding for the Project from the State of Minnesota,” the Diversion Board of Authority said.The MCCJPA unanimously adopted five charter goals:To acquire the property rights necessary for the FM Area Diversion Project, in compliance with State and Federal guidelines and in accordance with the philosophy of being fair, friendly, and flexible to those whose property is required for the Project;Provide uniform and equitable treatment of persons whose real property is acquired or are displaced in connection with the Project;To be respectful to the taxpayers and strive to keep acquisition costs within the Project’s annual budget;To be consistent, where possible within State law, with practices being used by the Cass County Joint Water Resource District, which is the entity that has been working to acquire property rights in North Dakota for a number of years;As a last resort measure, use Eminent Domain to acquire the necessary property.“The FM Area Diversion Project is a huge component of the future safety and vibrancy for Clay County,” Kevin Campbell, Clay County Commissioner and Vice Chair of the Diversion Authority, said. “The Project has followed all state laws and has successfully been through the permitting process established by the State of Minnesota. Our citizens expect construction to continue.”The MCCJPA Board is made up of six individuals, including two members from the Clay County Commission (Kevin Campbell and Grant Weyland) consistent with its appointments to the Diversion Board of Authority, three people appointed by the City of Moorhead (Mayor Johnathan Judd, Chuck Hendrickson, and Shelly Carlson) consistent with its appointments to the Diversion Board of Authority, and one member appointed by the Buffalo Red River Watershed District (BRRWD) Board of Managers (Jay Leitch).last_img read more

Mourinho to tell Tottenham board to focus on Premier League or Europe

first_imgRead Also: FA Cup quarter-final draw: Chelsea face Ndidi’s Leicester, Arsenal, others know foesMeanwhile, Mourinho’s side must overturn a 1-0 deficit in Germany if they want to progress into the Champions League quarter-finals three days later.Mourinho has previously been critical of the time between some of the club’s fixtures during a period when he has had to cope without Harry Kane and Son Heung-min.FacebookTwitterWhatsAppEmail分享 The result leaves Spurs with the Premier League and Champions League as methods of earning European football next season, something regarded as imperative given the quality of the club’s first-team squad.Advertisement Loading… Jose Mourinho allegedly wants Tottenham Hotspur to prioritise just one of their next two matches.On Wednesday night, the North London outfit bowed out of the FA Cup, losing to Norwich City on penalties after initially holding an advantage over the Canaries.center_img However, BBC Sport claims that Mourinho will tell the club’s board that he wants to place full focus on just one of their next two fixtures, either the Premier League meeting at Burnley or the second leg of the Champions League last-16 tie at RB Leipzig. Spurs currently sit five points adrift of fourth-placed Chelsea in the top flight, with Burnley able to move ahead of them should they prevail at Turf Moor. Promoted Content10 Risky Jobs Some Women Do8 Superfoods For Growing Hair Back And Stimulating Its GrowthWho Is The Most Powerful Woman On Earth?Best & Worst Celebrity Endorsed Games Ever Made6 Incredibly Strange Facts About Hurricanes12 Marvel Superheroes When They Were Kids9 Facts You Should Know Before Getting A TattooThe Very Last Bitcoin Will Be Mined Around 2140. Read More7 Facts About Black Holes That Will Blow Your MindA Guy Turns Gray Walls And Simple Bricks Into Works Of Art7 Mind-Boggling Facts About Black HolesA Little Cafe For Animal Lovers That You Will Never Want To Leavelast_img read more

Arsenal legend to get new Nice deal

first_img “I hope that Patrick can finally live a normal season on the bench in Nice. His first season was disrupted, in part because of us. The second is extraordinary. Is an extension possible? When you are happy with a coach, you always try to keep him. We want to continue together, we like him. We all have to be better. read also:Vieira reveals Arsenal manager’s job admission after Arteta appointment “The ambition will increase, the requirement too, for everyone. The most important thing in the coach / manager relationship is the bond of trust. We had to rebuild this link. I can’t speak for Patrick but I feel he is deeply happy at OGC Nice.” FacebookTwitterWhatsAppEmail分享 Promoted Content5 Reasons To Wait For The Solo Black Widow Movie10 Of The Best Places Around The World To Go StargazingWho’s The Best Car Manufacturer Of All Time?Celebrities Showing Support For George Floyd ProtestsThe Highest Paid Football Players In The World7 Ways To Understand Your Girlfriend Better7 Universities In The World With The Highest Market ValueTop 7 Best Car Manufacturers Of All TimeBest Car Manufacturers In The WorldThe Highest Paid Football Players In The World7 Universities In The World Where Education Costs Too MuchSome Impressive And Almost Shocking Robots That Exist Loading… With the Ligue 1 season now abandoned, it’s been confirmed Nice will play in next season’s Europa League competition. The OGCN board is delighted with the work of Vieira and football director Julien Fournier said, “Will Vieira still be the Nice coach next season? Obviously. There is no debate.Advertisement Arsenal great, Patrick Vieira, is set to be handed a new contract by Nice.last_img read more

Air Force faces San Diego St. in MWC quarters

first_img Share This StoryFacebookTwitteremailPrintLinkedinRedditAir Force (12-19, 6-13) vs. No. 1 seed San Diego State (28-1, 17-1)Mountain West Conference Tournament Quarterfinals, Thomas & Mack Center, Las Vegas; Thursday, 2:30 a.m. ESTBOTTOM LINE: Air Force and San Diego State are prepared to match up in the quarterfinals of the MWC tournament. The only meeting between the teams this season came on Feb. 8, when the Aztecs outshot Air Force 55.8 percent to 46.4 percent and hit six more 3-pointers en route to the 15-point victory. ___For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.com March 5, 2020 Associated Press center_img SUPER SENIORS: Air Force has relied heavily on its seniors. Lavelle Scottie, Ryan Swan, Caleb Morris and Sid Tomes have combined to account for 60 percent of the team’s scoring this year and 68 percent of all Falcons points over the team’s last five games.CREATING OFFENSE: Malachi Flynn has either made or assisted on 57 percent of all San Diego State field goals over the last three games. The junior guard has accounted for 24 field goals and 15 assists in those games.UNDEFEATED WHEN: Air Force is a perfect 6-0 when it holds an opponent to 60 points or fewer. The Falcons are 6-19 when opponents score more than 60.PASSING FOR POINTS: The Falcons have recently used assists to create buckets more often than the Aztecs. San Diego State has an assist on 34 of 68 field goals (50 percent) across its previous three contests while Air Force has assists on 50 of 79 field goals (63.3 percent) during its past three games.GETTING DEFENSIVE: The sturdy San Diego State defense has held opponents to 59.2 points per game, the third-lowest mark in Division I. Air Force has given up an average of 74.6 points through 31 games (ranking the Falcons 270th). Air Force faces San Diego St. in MWC quarterslast_img read more