Foreign offices

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What’s next for Democratic presidential candidates after New Hampshire

first_imgThe 78-year-old candidate’s hefty war chest is allowing him to air new TV ads in states that vote in March, places where Bloomberg has dominated the airwaves as part of his strategy focused on later-voting states. Warren’s poor showing on Tuesday should help Sanders consolidate the party’s liberal wing.Some Democratic officials are concerned that Sanders’ “democratic socialist” label could damage down-ballot candidates in the fall. Buttigieg and Klobuchar’s combined vote total on Tuesday night far surpassed what Sanders drew, suggesting voters may still prefer a centrist message.In a sign of the resistance he may face, Nevada’s influential Culinary Union Local 226 on Tuesday circulated a flyer to its members warning that Sanders would “end” the labor group’s popular healthcare offerings if elected president.PETE BUTTIGIEGThe 38-year-old former mayor’s campaign is on an upswing after a narrow win in Iowa and close second-place finish in New Hampshire, but far tougher tests lay ahead in states with more diverse populations.Buttigieg has struggled to overcome skepticism among African-American voters, after members of the black community in South Bend complained he ignored them amid the city’s economic revitalization. That apparent weakness has raised concerns about whether he can mobilize enough support nationally from black voters to beat the Republican Trump.The campaign says a strategy of reaching out to rural, independent areas where people voted for both Trump and former President Barack Obama has allowed Buttigieg to build a broad coalition and prove his unity message during a divisive Trump presidency is viable.In South Carolina, where roughly 30% of the population is black, Buttigieg has remained in the single digits in opinion polls. His campaign is hoping to leverage his status as a military veteran to earn support in the state, which has a large number of veteran and active duty service members.Campaign officials say his team will rely on deep volunteer corps in a broad swath of states with upcoming primaries, as opposed to hiring expensive staff, and focus spending on ads that will help boost his name recognition.AMY KLOBUCHARKlobuchar was mostly an afterthought in a crowded field only weeks ago, but she scored the biggest surprise in New Hampshire, coming in third and easily beating Warren and Biden.A commanding debate performance in New Hampshire on Friday night led to increasingly large and enthusiastic crowds at the weekend. The campaign reported raising $4 million between the debate and Tuesday morning, and later in the day announced a new television advertising buy in Nevada.Klobuchar, 59, has run as an unapologetic centrist, highlighting her success in winning in conservative districts in Minnesota and dismissing ambitious liberal policy proposals like free college tuition as unrealistic “bumper sticker slogans.”Biden’s poor showings in the first two states could open the door for her to emerge as the moderate standard-bearer. But she needs to show she can move ahead of Buttigieg, and her support among black voters is even more anemic than his is.ELIZABETH WARRENAfter a disappointing fourth-place showing in her neighboring state, the Massachusetts senator needs a breakout moment to recapture the momentum she had last fall.Hours before the polls closed on Tuesday, Warren campaign manager Roger Lau attempted to forestall a rush to judgment. He argued in a memo to backers that she had built an operation that could methodically collect delegates through March and warning against focusing on “winner-take-all victories.”Warren failed to win a single delegate in New Hampshire, however, and Klobuchar’s rise appears to be cutting deeply into her base of college-educated voters, particularly women, according to exit polling by Edison Research.Warren, 70, likely has the most extensive national operation aside from Bloomberg, with more than 1,000 staffers in 30 states. If her fundraising falters, she could face financial strains.JOE BIDENBiden’s decision to leave New Hampshire for South Carolina before the vote count started rolling in says it all.His campaign never expected to win in Iowa and New Hampshire. But it also did not expect him to finish so poorly, casting a deep shadow on his claim that he is the most “electable” Democrat and best positioned to take on Trump.His biggest problem has been the rise of Buttigieg and Klobuchar as younger, moderate alternatives.Biden, 77, hopes the shift to Nevada and South Carolina will give him the reset he needs.But there are other concerns. His weakness in the first two contests could trigger an erosion of support among his strongest political base: African-American voters. Biden also is unlikely to be able to compete financially with the likes of Sanders, Buttigieg and Bloomberg.MICHAEL BLOOMBERGBloomberg could emerge as one of the night’s biggest winners even though he didn’t campaign in New Hampshire.The former New York City mayor has been counting on an unsettled race among the moderate candidates, including a weak showing from once-time front-runner Biden, to present himself as the most viable alternative to Sanders.Bloomberg, 77, joined the race late and is not competing in the first four nomination contests. Instead, his campaign has poured hundreds of millions into the states that vote on March 3, known as Super Tuesday.National polls have shown Bloomberg steadily growing his share of support in recent weeks, and he has built by far the biggest staff among presidential candidates.But Bloomberg also faces his own challenges, including an increasing level of scrutiny on his record as mayor. On Tuesday, a recording surfaced of him defending policing tactics that have disproportionately ensnared blacks and Hispanics. Topics : If there’s one thing Tuesday’s New Hampshire primary made clear, it’s that Democrats are no closer to agreeing on the right candidate to beat Republican President Donald Trump in November.The two leading candidates from Iowa’s caucus, Senator Bernie Sanders and former South Bend, Indiana, Mayor Pete Buttigieg, stayed at the top of the field. But Senator Amy Klobuchar surged to third, throwing the viability of both Senator Elizabeth Warren and former Vice President Joe Biden into question.No candidate exceeded 30% of the vote – a muddled outcome that could end up helping billionaire Michael Bloomberg, a moderate candidate who wasn’t even on the ballot.center_img Here’s how the path ahead looks for each of the top candidates vying to challenge Trump on Nov. 3:BERNIE SANDERSAfter his strong performances in mainly white Iowa and New Hampshire, Sanders’ claim that he is building a “multiracial, multigenerational, people-driven movement” will be put to the test in more diverse Nevada and South Carolina.A Quinnipiac national poll released on Monday showed the Vermont senator up 2 percentage points among black voters since January, reaching 19% support and closing the gap on Biden, who fell 22 points to 27% after a fourth-place finish in Iowa. Bloomberg surged to 22% among black voters in the poll.last_img read more

German institutions turning from equities to alternatives – Universal survey

first_imgCurrently, the exposure to alternative investments is below 3% in the majority of portfolios of the surveyed institutions, which included Pensionskassen, Versorgungswerke, insurers, foundations and banks managing around €300bn in total assets.Universal pointed out that nearly one-third of respondents wanted to up their quota by more than 300 basis points.At the same time, the interest in real assets such as real estate and infrastructure remained strong, but only 31% said they wanted to increase investments in those segments compared with 43% last year.All in all, the surveyed institutions remained pessimistic about the global economic outlook, with 78% saying the financial crisis is not over yet five years on.More than 60% noted quantitative easing helped to buy time but did not solve structural problems, and they did not expect either the US Fed or the ECB to cut rates over the medium term. German institutions do not see an end of the low-interest rate environment any time soon and are planning to up their exposures to alternatives, a survey by Universal Investment has found.Among the 90 German institutions polled by the asset manager, 70% want to increase their exposure to alternatives, and 29% said they were looking at investments in private equity and loans.In a similar survey last year, only one-fifth of respondents were looking into alternatives, while one-third planned to increase their equities quotas.This year, the trend is reversed and “growing stronger”, Universal said.last_img read more

IPE Awards: Pension funds warming to activist shareholding strategies

first_imgMore than half of respondents to a poll of European pension funds believe activist shareholding strategies have a role within institutional investment.The question whether activism should become part of institutional investors’ strategies was posed to an audience of European pension funds during the last session of the 2014 IPE Conference & Awards in Vienna, by a panel moderated by Craig Stevenson, senior investment consultant at Towers Watson.Pension funds attending the conference also agreed on the style of activist shareholding they would pursue, with most investors saying they preferred a mix of a collaborative and an aggressive style.The majority of investors in the poll said they were ‘agnostic’ as to where their activist allocation should sit in their portfolio, as they believe it should not necessarily take one single, specific form – such as equity, hedge funds or private equity.  With regards to returns from activist shareholding strategies, most said they would expect them to add alpha to their portfolios to the tune of 3% or more.This finding seems to represent a realistic expectation if compared with scientific evidence.Julian Franks, professor at the London Business School and academic director of the Centre for Economic Policy Research of the European Corporate Governance Institute, cited data from his several studies showing that activist strategies that are successful in bringing about change do deliver additional alpha returns for investors.All panellists agreed that activism was compatible with the way institutional investors operated, but there was disagreement as to how institutional investors and other activist investors, such as activist hedge funds, should join forces to make an impact on company management strategy.Franks pointed out that, while there has been a cultural change, and management are far more comfortable with activist ownership, that should not mean activist fund managers should disregard companies that do not show an immediate willingness to engage in a discussion.He said: “You cannot walk away simply because the company’s management does not return your phone calls. That is not what I would call responsible ownership.”Jens Tischendorf, partner and director of Cevian Capital, an activist hedge fund, explained that his fund’s strategy consisted of joining the boards of companies and changing management from the inside.As a result, the fund spends a considerable amount of time studying individual investments before acting, and the fund’s portfolio is highly concentrated. Peter Borgdorff, director of Pensioenfonds Zorg & Welzijn (PFZW) and chairman of Eumedion, the Netherlands’ corporate governance forum, pointed out that a large pension fund such as PFZW, with equity stakes in hundreds of companies, cannot systematically follow a strategy consisting of putting representatives on the boards of companies.However, he said, PZWF did pursue an activist strategy, using its weight to influence companies – especially in order to rectify issues at companies, as observed by PZWF directly or raised by other shareholders and the public.The fund uses proxy voting, as well as more direct dialogue, to have an impact on companies, on a case-by-case basis.Borgdorff added: “For me, activism is more than just generating additional alpha. That should not be the goal in itself. Activism is about our responsibility to society. Through activism, you can create a better market. I can’t imagine investing without taking responsibility about the companies you invest in.”Tischendorf agreed that activism could help improve society as a whole: “If through being an activist investor you make companies more competitive, it is better for society.” Anne Simpson, director of corporate governance and senior portfolio manager at CalPERS, US public-employee pension fund, said the fund had gradually developed an activist approach that now focused on several areas, from governance to gender issues.Simpson, who manages a team of 20 people dedicated to monitoring corporate governance at the companies that the fund is a shareholder of, said: “CalPERS has moved to an integrated approach to active ownership, to make sure all our activist strategies are managed in an integrated way across the portfolio.”Simpson added that, while CalPERS has worked with external “governance managers” in the past, the fund has now also trimmed that programme.She said: “We are finding can be more effective working directly with companies. We’re being thoughtful about the role of this kind of manager.“First, intermediation can dilute the conversations with the companies. Also, we have a long-term investment horizon, as we are simply a permanent investor in companies.”Panellists, however, highlighted a set of challenges in activist ownership of shares.Tischendorf said it was key for activist investors to make sure their strategy represented the long-term interests of all shareholders, and pointed out that that had not always been the case.Franks also expressed concern about the costs of activist strategies.He said: “Activism is quite expensive, at 1.5% to 2% performance bonus per year. Such high costs may be justified by the expenses paid by managers, but the question is, how can we make activist ownership less expensive?”last_img read more

Brisbane couple buy first Aussie home

first_img Graya’s next project unveiled MORE PROPERTY STORIES Anna Spiro sells her island home FOLLOW US ON FACEBOOKcenter_img Ken McFarlane with pictures of the house his dad built in 1948.Mr McFarlane sold the worker’s cottage in 2001 for $146,000 and a large rear deck was added before Benn Kennedy bought the house in 2006 for $320,000 and began a major renovation to the original home.“I don’t recognise the place,” Mr McFarlane said.“But I see the polished floorboards are back. We had them when I was a kid but in the 1960s carpets were all the rage. I moved out in 1975.” A new kitchen was part of the most recent renovations.Neil and Nicole Gavin, who currently rent in neighbouring Wilston, had been looking for their first home in Australia since putting their UK property on the market two years ago.After being released from a townhouse contract last month, they were about to make an offer on a Gordon Park property when they decided to inspect 160 Eildon Road, Windsor.More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours agoParks and wildlife the new lust-haves post coronavirus8 hours ago“The moment I walked in the door I knew this was the house,” Mrs Gavin said. Outdoor areas were very important to the buyers of 160 Eildon Road, Windsor.“I liked the deck and the fire pit. We live outdoors a lot and it just suits our lifestyle.”At Saturday’s auction, Ray White auctioneer Mitch Peereboom accepted an opening bid of $600,000 for the three-bedroom house and four active bidders took part, raising the price by $50,000 each time.Mr Gavin entered the auction at $700,000 and at $800,000 he was in front when the auction was paused for negotiations for more than 20 minutes.“We had a plan, we had a top limit to our financial plan, and we said we wouldn’t break it and we did,” Mrs Gavin said. “Which is why there was such a delay because we were deciding if we could afford it.”Mr Peereboom resumed the auction with an increased bid of $850,000 and the property was sold unchallenged.The auction was one of almost 50 to go to auction across Brisbane on Saturday. This house at 160 Eildon Road, Windsor has sold at auction for $850,000.A family who pulled out of an off-the-plan property purchase when the developer would not deliver on contract commitments, have finally bought their first home in Australia, securing an inner northern house at auction for $850,000. New owners Nicole and Neil Gavin (front) with the sellers Benn and Nikki Kennedy and their son Jack, 3, (middle), and Ken McFarlane (top) whose father had the house built in 1948.Six registered bidders, including one on the phone from New South Wales, took part in the auction of the three-bedroom house on 543sq m at 160 Eildon Road, Windsor.Among the onlookers was Ken McFarlane, whose father had the worker’s cottage built in 1948. The house at 160 Eildon Rd, Windsor was sold by Matt Sale of Ray White West End.“I’m kicking myself that I didn’t buy the house with my brothers and sisters as a share house,” he said.last_img read more

Costa treble inspires Blues

first_img Chelsea’s response was slow in coming, but when it did Costa got his timing spot on, heading in his fifth Premier League goal just before the interval. The Brazil-born Spain striker appears to be the ‘killer’ frontman Jose Mourinho coveted last term in becoming the first Chelsea player since 1928 to score in his first four games. Jack Meredith managed just six goals in all for the Blues, a mark Costa soon surpassed as he tucked in his second after yet another assist from Cesc Fabregas. The new signings have developed a strong understanding early in their Chelsea careers in a partnership integral to the Blues’ bid for a first Premier League title since 2010. Costa’s goals are key to that, too, and he completed his hat-trick before making way for Loic Remy, who struck the fourth on his debut. Jonjo Shelvey pulled a goal back, but it appears Chelsea and Costa will take some stopping this season. The Blues begin their Champions League Group G campaign against Schalke on Wednesday night and meet Premier League holders Manchester City next weekend in a test of their credentials. Mourinho might have been tempted to keep Costa in reserve for the week after a hamstring injury saw him withdraw from international duty with Spain. Swansea, like Chelsea, opened the season with three wins from three games, and early on the visitors looked more like title challengers than their lethargic hosts. The lead, courtesy of a John Terry own goal, was just reward for City’s early dominance. Diego Costa demonstrated his killer instinct with a hat-trick as Chelsea came from behind to extend their 100 per cent winning start to the Barclays Premier League season with a 4-2 win over Swansea at Stamford Bridge. But it soon became apparent that the Blues would need him after Swansea started well. Wayne Routledge volleyed wide and then dispossessed Nemanja Matic in a challenge he should not have won in the move which led to the opening goal. Ki Sung-yeung, influential early on, fed left-back Neil Taylor, whose cross Terry could only turn in to his own net. Bafetimbi Gomis – Swansea’s one change following the 3-0 defeat of West Brom, Wilfried Bony dropping to the bench – twice had half chances but could not find the target. Routledge curled one narrowly wide as Swansea threatened again before Chelsea finally came into the game. Jordi Amat and Shelvey were each booked for fouls on Eden Hazard on the edge of the Swansea box and from the second opportunity Andre Schurrle’s free-kick was tipped over by Lukasz Fabianski. A Branislav Ivanovic cross evaded Costa and was headed over by Oscar, who then tested Fabianski with a low shot before his dangerous cross from the right was dealt with by the Polish goalkeeper. Costa and Amat tangled on the touchline as the striker showed his menace before delivering another blow. The £32million summer signing – a man Mourinho chased for a year – lurked behind Ivanovic before meeting a Fabregas corner with a low, firm header. Mourinho was clearly not satisfied with seeing his team reach the interval level as World Cup winner Schurrle was replaced by Ramires. Amat, treading a fine line against Costa, went off for Federico Fernandez for Swansea. Costa immediately tested Swansea’s defence, his effort from a corner ballooning over off Ivanovic. Soon Chelsea – and Costa – had a second after a one-two between Fabregas and Hazard on the left edge of the Swansea box. In a combination that is becoming familiar even at this early stage in the season, Fabregas laid on the assist, pulling the ball back for Costa to finish clinically. Mourinho spoke on Friday of his strikers being an upgrade on last term and the statistics prove it. Fernando Torres, now at AC Milan on a two-year loan, took over a year to score the same total after his £50m arrival from Liverpool in January 2011 and netted five Premier League goals in 28 appearances last term. Shelvey sliced wide and Gomis was unable to lift the ball over the onrushing Thibaut Courtois, who had a quiet second half as he celebrated his new five-year contract. Courtois watched from afar as Costa struck once more. Ramires scuffed his shot into the path of the striker, who pounced to complete his hat-trick. Chelsea owner Roman Abramovich smiled widely and joined in the applause as Costa departed after 72 minutes for Remy to make his debut. Remy, signed only after Torres’ move to Italy, quickly made his mark, tucking in Oscar’s pass. Shelvey pulled a goal back with four minutes to play after substitute Bony’s incisive pass. Mourinho tucked the ball under his arm after it entered his technical area from the restart and Swansea could not breach the Chelsea defence again. Press Associationlast_img read more

Biggest Moments of Democrat Debate in Detroit

first_imgAuthor and activist Marianne Williamson is the number one Googled candidate at the Democratic presidential candidate debate Tuesday night.She took the debate stage in Detroit along with nine other hopefuls. Williamson, who mounted an unsuccessful congressional bid in California five years ago, led searches in 49 of 50 states.Governor Steve Bullock was number one in his home state of Montana.Democratic presidential candidates addressed immigration in America.Speaking at the second Democratic Debate in Detroit, former Texas Congressman Beto O’Rourke said he would reserve the right to prosecute those who illegally cross the border.Massachusetts Senator Elizabeth Warren said needs border security border security but shouldn’t criminalize families wishing to start a new life in America. Vermont Senator Bernie Sanders said “a mother and child walking a dangerous path” to cross the border are not criminals.last_img read more

Hope Indian Fans Support New Zealand In World Cup Final: Kane Williamson

first_imgManchester: After beating Virat Kohli’s men in the semifinals, New Zealand skipper Kane Williamson is hopeful that Indian fans are not too angry with the Black Caps and would be supporting them in the finals of the ongoing World Cup.On Wednesday, New Zealand came out with a brilliant bowling performance as they registered a 18-run victory over the Men in Blue at the Old Trafford to make it to their second successive World Cup final. Also Read – Meghalayan mid-fielder Phrangki Buam joins ISL side FC Goa “I hope they’re not too angry. Obviously, the passion for the game in India is unrivalled and we are all fortunate to play this sport and have a country like India be right behind it,” Kane Williamson said at the post-match press conference.“But hopefully we can adopt 1.5 billion supporters and they’ll be supporting us,” he added.The Black Caps defended a chaseable 240-run target as they bowled out India for 221 in the final over of the game. Also Read – COVID-19: Football team observes ‘social distancing’ during match, loses 37-0“The game of cricket is fickle in its nature especially when it comes to the white ball and T20 and one-day cricket.“Today perhaps some of those small margins went our way and it was great that we could get across the line and beat a very strong side,” he added. IANSAlso Read: We Believed We Could Put Pressure On India With 240: Kane Williamsonlast_img read more

Flash play surprises students

first_imgUSC students, faculty and visitors received a surprise in the courtyard behind Doheny Memorial Library Thursday afternoon in the form of a “flash play,” put on by USC Libraries in partnership with the School of Dramatic Arts.Flash act · Students, alumni and an actress perform in a surprise flash play in the courtyard of Doheney Memorial Library on Thursday. afternoon. – Isabella Sayyah | Daily TrojanThe play, directed by Oliver Mayer, associate professor of dramatic writing, was performed by a group of four students and alumni, as well as Dallas actress Marlene Forte, Mayer’s wife.“I love the idea of agitprop, which is what really made a difference back in the day, so when I heard about the flash plays I was like, ‘I want to be in one,’” Forte said.The group put together the first flash play last year in front of Doheny, and is planning on holding three or four more this semester.“We’re doing one for Lewis Carroll because that’s a big thing that they do around Alice in Wonderland; one for the ONE collection, which is the LGBT archive; one we think we’re going to do in the Engineering [Library], because it’s the most used library and one in [the] Fine Arts [Library],” Mayer said.Though the play focused specifically on Doheny and the different libraries within it, the group also described Thursday’s play as an introduction to the libraries in general.“It’s a remount of the premier of the original one we did in the spring,” said Jonathan Munoz-Proulx, a recent graduate and the director of the flash play. “We remounted it with some adjustments and another cast to celebrate it again and to remind everyone [the libraries] are here.”Though, true to its name, the flash play was a surprise, some people were tipped off that it would happen. Around noon, many Doheny librarians and staff descended to the courtyard because they had heard that “something” was about to happen there.For those who do not work at the library, USC Libraries tweeted, and USC retweeted: “Can you keep a secret? Something special might happen today around noon outside Literatea. #USC.”Others, however, remained in the dark about the approximately five-minute performance, which interrupted their work.“I was here with a student having a conference, so I was a little bit annoyed that they were interrupting,” said Jessica Harmon, a graduate student in linguistics and a Writing 140 lecturer. “I thought it would be good that a student was there who maybe didn’t know about the libraries and [would] hear about stuff that he wouldn’t necessarily know from living on campus.”Mayer said that in the future, the plays will be teased through Twitter and Facebook.Future plays may also have other special guest performers.“I’m the one who tries to get people who are on TV to do [the plays]because I think that makes it a little fun for everybody,” Forte said.last_img read more

USC prepares for conference tournament

first_imgDespite losing three of its last six regular-season games, the USC women’s basketball team enters the Pac-10 tournament with a strong chance of earning a postseason bid.All-around player · Junior guard Briana Gilbreath is a consistent offensive and defensive force for USC. This week, she was named to the All-Pac-10 team for the second straight season and Pac-10 All-Defensive Team for the third straight time. – Tim Tran | Daily Trojan First up for the Women of Troy (18-11, 10-8) is a game against Washington State, a team they beat twice during the regular season.Last week, USC overcame a second-half deficit to take down the Cougars (8-22, 6-12) at the Galen Center.“Washington State is a hot team,” said USC coach Michael Cooper. “They have some guards who can shoot the ball. One thing we have on our side is that the game is being played at the Galen Center.”Cooper says his team is peaking at the right time. In their final regular season game, the Women of Troy blew a double-digit halftime lead against Washington, but rallied to win in overtime.“Two weeks ago we might have lost that game,” Cooper said. “We’re excited because we ended [the season] on a positive note. We hold our destiny in our hands and have a chance to get into the tournament.”All season long, the Women of Troy have pointed to 20 wins as the benchmark for earning a postseason berth.Last season, USC won 19 games and was denied a tournament bid.Reaching that number will be made more difficult by the absence of junior guard and all-conference performer Ashley Corral, who will serve the second game of her suspension tonight against the Cougars. Corral was suspended before the Washington game for violating team rules.In her place, USC will rely on redshirt senior guard Jacki Gemelos and freshman guard Len’Nique Brown. Gemelos, who started handling the ball more as the season progressed, gives the Women of Troy a versatile threat at point guard.“[Gemelos has] done a great job handling the point position,” Cooper said. “We’re going to need her leadership and perimeter shooting.”Brown, who has played well in limited duty, will be called on to relieve Gemelos at the point.“Len’Nique just has to play good, steady basketball,” he said. “[We] don’t need her to score 20 points, we just need her to play good defense and get us into our plays.”If the Women of Troy beat Washington State, they will play the winner of the Arizona-Oregon game. USC split the season series with the Wildcats and swept the Ducks.Tip-off is scheduled for 5:15 p.m. on Thursday.Looming after that game is a semifinal clash with  No. 2 Stanford. USC hung tough with the Cardinal last month at the Galen Center and is looking for a repeat performance.“We know what we need to do,” Gemelos said. “We need two wins in the Pac-10 tournament, and then against Stanford we need to compete and beat them as well.”Tip-off is at 5 p.m. tonight at the Galen Center.last_img read more