Oil prices collapse on storage fears, Asia equities mixed

first_imgWTI was hit particularly hard as its main US storage facilities in Cushing, Oklahoma, were filling up.ANZ said “crude oil prices remained under pressure, as projections of weaker demand weigh on sentiment”.”Despite the OPEC+ alliance agreeing to an unprecedented cut in output, the physical market is awash with oil,” it said, referring to the Organization of the Petroleum Exporting Countries and non-OPEC partners.And AxiCorp’s Stephen Innes added: “It’s a dump at all cost as no one… wants delivery of oil, with Cushing storage facilities filling by the minute. “It hasn’t taken long for the market to recognise that the OPEC+ deal will not, in its present form, be enough to balance oil markets.”Stock traders were in slightly more buoyant mood as governments start to consider how and when to ease lockdowns that have crippled the global economy.Italy, Spain, France and Britain reported drops in daily death tolls and slowing infection rates. ‘No time to get cocky’ “We are scoring points against the epidemic,” said Prime Minister Edouard Philippe, while insisting “we are not out of the health crisis yet”.Meanwhile, in the US, Andrew Cuomo, governor of badly hit New York state, said the disease was “on the descent”, though he cautioned it was “no time to get cocky”.Mounting evidence suggests that the lockdowns and social distancing are slowing the spread of the virus. That has intensified planning in many countries to begin loosening curbs on movement and easing the crushing pressure on national economies.Adding to the sense of hope was a report indicating promising research on a drug to treat coronavirus.Hong Kong, Shanghai and Seoul were each up 0.1 percent, while Wellington added 0.4 percent.However, Tokyo went into the break 0.9 percent lower, while Sydney and Manila dropped one percent apiece. There were also losses in Taipei, Singapore and Jakarta.”The longer investors have to contemplate future economic issues while they wait for more countries to be on the downward slope of the pandemic curve, the more scope there is of risk assets pricing in a difficult future,” Chris Iggo, of AXA Investment Managers UK, said.Investors are keeping an eye on Washington, where Congress and the White House are working towards a $450 billion economic relief plan for small business to add to the trillions already pledged to support the economy.Big-name companies including IBM, Netflix and Coca-Cola are due to deliver their earnings reports. Oil prices collapsed to more than two-decade lows Monday as traders grow concerned that storage facilities are reaching their limits, while equities were mixed, with some support coming from signs that the coronavirus may have peaked in Europe and the United States.US crude benchmark West Texas Intermediate briefly plunged almost 20 percent to below $15 — its lowest since 1999 —  as stockpiles continue to build owing to a crash in demand caused by the COVID-19 pandemic.Analysts said this month’s agreement between top producers to slash output by 10 million barrels a day was having little impact on the oil crisis because of lockdowns and travel restrictions that are keeping billions of people at home.center_img Topics :last_img read more

Cannon Hill home snapped up in less than 24 hours, Coorparoo demolition approved home sells for $1.38M

first_imgThis home at 32 Buena Vista Ave, Coorparoo, was sold for $1.38m and will be demolished.Just a few suburbs over, one buyer purchased 32 Buena Vista Ave, Coorparoo, under the hammer for $1.38 million.The home has already been approved for demolition, which is what the new owner intends to do, according to Place Bulimba sales agent Darcy Lord.“The buyer has been looking for a premium location to build a family home … and wanted to be in a location that, when he builds, the market would see value and not overcapitalise,” he said.“The land reflects not only what is happening in the premium large-home market but as Brisbane being a premier state going though a strong growth period.” The home at 62 Beauvardia St, Cannon Hill.This Cannon Hill home was snapped up for $1.21 million in less than 24 hours.Place Bulimba sales agent Meagan Muir said the buyers had been looking at homes in the area since January and pounced on the 62 Beauvardia St property as soon as it was listed.“The floorplan was perfect because it had a really big open-plan living space, and a fifth bedroom and dedicated bathroom downstairs,” Ms Muir said. More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020“That’s what really set the house apart and they loved the feel of the home.”last_img read more

ECB throws ‘kitchen sink’ at problems with expansion of QE’s scope

first_imgThe European Central Bank (ECB) is to grow the scale of its quantitative easing (QE) programme by €20bn a month, expanding it to include a wider range of corporate bonds. Its six new or amended policy measures – including lowering the base interest rate to zero and the bank deposit rate by 10 basis points to -0.4% – were likened by Patrick O’Donnell, investment manager at Aberdeen Asset Management, to the central bank’s “having thrown the kitchen sink” at the problem.All rate changes will take effect from 16 March.He said it was a “big surprise” that non-financial corporate bonds had been included within the remit of the expanded asset-purchasing facility but was uncertain how long the rally the announcement triggered would last. Stephen Years, head of fixed income beta at State Street Global Advisors, argued the steps were a realisation by the ECB that it could not continue with its usual approach.“The programme modifications and the new monetary policy tools embraced by the ECB today are reflective of the view that just pulling harder on the existing monetary leavers open to them is not sufficient to deal with the economic reality within the euro-zone,” he said.Ian Tabberer, global equity investment manager at Henderson Global Investors, argued that the ECB’s approach risked tackling the wrong areas.“At the margin, this will help financial assets, [but] it is anaemic demand for credit rather than the cost of supply that appears to be the fundamental issue, and this is creating the low-inflation environment in Europe,” he said.“We hope these measures can boost confidence but doubt whether monetary policy alone can kick-start the broader European economy.”He said questions remained whether the impact on the euro, down following the ECB’s decision, would in fact have a positive impact overall.“If these measures do lead to a weaker euro relative to other global currencies, it must be remembered that, in a global context, this is a zero-sum game,” he said.“Easing of pressures in one region may be creating pressures in another. There are no easy solutions, and the longer-term impacts of this announcement are likely to be complex.”Meanwhile, Neil Williams, chief group economist at Hermes Investment Management, was uncertain whether the actions of central bank governor Mario Draghi would have the desired effect, noting that the rate cuts were an indirect route to growth.“Either way,” he added, “while helpful in addressing the symptom, deflation, Draghi cannot alone solve the underlying problem – a monetary union devoid of economic union.“This will take years. And, meanwhile, the euro remains a currency in search of a government.”last_img read more

Rondon opens up on how he reacted to Man Utd signing Ighalo instead of him

first_imgIghalo put pen to paper on a six-month loan deal with the Red Devils and the Nigeria international is in line to make his first start away to Club Brugge in the Europa League tonight.Rondon – who, like Ighalo, has been plying his trade in the Chinese Super League – was another player firmly on United’s radar before last month’s transfer deadline.United were confident Rondon could still do a job in the Premier League after recent spells with West Brom and Newcastle, but a firm offer was never submitted for the 30-year-old Venezuelan.However, the Dalian Yifang star insists he was on the verge of a move to Old Trafford after discussions between the club and his agent.‘It was all out of my hands,’ the former West Brom and Newcastle forward told The Athletic.‘It means a lot to be linked with Manchester United because they have a great history and it must mean they think I did well in the Premier League.‘They started to talk to my agent and I was just waiting by my phone for a decision, maybe for the lawyers, but then I saw Ighalo had signed.‘It didn’t get to the stage where an offer was made or anything like that, but I think it was really close.’Rondon claims he’s now fully focused on Dalian again after missing out on joining United, adding that he’s ‘pleased’ for Ighalo on sealing his dream move.Asked whether he’s ‘distraught’ or ‘angry’, Rondon replied: ‘No, no — it’s just football. Promoted Content10 Risky Jobs Some Women DoEverything You Need To Know About Asteroid Armageddon8 Things To Expect If An Asteroid Hits Our PlanetYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime7 Ways To Understand Your Girlfriend BetterThe Funniest Prankster Grandma And Her GrandsonJapanese Inventions That Make You Wish You Lived In Japan5 Of The World’s Most Unique Theme Parks9 Facts You Should Know Before Getting A Tattoo9 Heroes Of Popular Memes Then And NowPlaying Games For Hours Can Do This To Your BodyThe Biggest Cities In The World So Far Ole Gunnar Solskjaer made it clear he wanted to bolster his thin attacking options this winter and an agreement was reached with Shanghai Greenland Shenhua for Ighalo, 30, in the final hours of the transfer window. Loading… center_img Read Also: Europa League: Ighalo makes Man United squad vs Club Brugge clash‘It’s decisions again and they obviously decided Ighalo was the best decision for them. I’ve played against him and I’m pleased for him.‘All I can do is keep working. I’m concentrating on Dalian, on working and learning and listening to the manager.‘After that, we will have to wait and see. You just never know in this game.’FacebookTwitterWhatsAppEmail分享 Salomon Rondon says he was ‘really close’ to joining Manchester United in January but understands the club’s decision to sign Odion Ighalo instead of him.Advertisementlast_img read more

What happened to senior citizens’ social pension?

first_imgILOILO City – Senior citizens inWestern Visayas have been wondering where their 2019 social pensions went. According to Macapobre, DSWD-6 has sofar released the pension to 65 percent of the total number of social pensionersin the region. This must not happen again, DSWD-6stressed./PN Accordingto COA, out of the 13,190 social pensioners in Iloilo City in 2019, 420beneficiaries were found to be ineligible. This was 3.1 percent of the totalnumber of beneficiaries of the program. There are an estimated 300, 000 DSWDsocial pensioners in Western Visayas. The revalidation of beneficiariesdelayed the release of the social pension, explained the Department of SocialWelfare and Development (DSWD) Region 6. But only the following senior citizensare qualified: * those with no pension from theGovernment Service Insurance System, Social Security System, PhilippineVeterans Affairs Office, Armed Forces and Police Mutual Benefit Association,Inc. or any other insurance company The revalidated list was finalized bythe DSWD central office and the names of qualified beneficiaries were forwardedto its Region 6 office in batches, according to DSWD-6 director Evelyn Macapobre. * those with no regular support fromfamily or relatives for basic needs center_img Last year, alarmed by the Commissionon Audit’s (COA) discovery that 420 unqualified senior citizens in Iloilo Citywere included in the Social Pension Program for Indigent Senior Citizens(SPISC), DSWD ordered a Western Visayas-wide cleansing of its list of programbeneficiaries. * those who are frail, sickly or withdisability DSWD-6 hopes to complete the releaseof the 2019 social pension before this month ends. Eachof these beneficiaries received P1,500 to P4,500. Under SPISC, a monthly stipend of P500is given to indigent senior citizens to augment their daily subsistence andmedical needs. * those with no permanent source ofincome Macaprobre said it is DSWD-6 itselfthat releases the social pension; it is no longer coursed through localgovernment units. “This is the reason why the release ofthe social pension is also being done in batches,” she stressed.last_img read more

Trojans Earn Gridiron Regional 3-Peat

first_imgThe East Central Trojans Football team has made history again as they captured their third straight Regional Crown with a 35-13 victory over The Evansville Central Bears at Trojan Field.EC wins their eighth Regional Championship and their third consecutive title becoming the first time in school history that The Trojans have won three straight Regional Crowns.The Bad Boys from St. Leon will be Semi-State bound as they will be hosting The Greenwood Woodmen for the opportunity to play in The 4A State Championship Game.Congratulations to Coach Justin Roden and The Trojans!Listen to East Central Trojans Football on WRBI!last_img

WalletHub ranks the ‘best’ & ‘worst’ cities for baseball

first_imgBatesville, In. — Now that the World Series is underway our friends at WalletHub have filed a report detailing the “best” and “worst” cities for baseball. The report was developed by evaluating 360 American cities in 31 key areas. A link to the full study is here.last_img

Royal Portrush backs upgrade plans

first_img Royal Portrush has undergone seven significant changes since the course first opened as The County Club in 1888 but no development work has been done in the decades since the Open visited in 1951. The R&A, organiser of the Open, has been notified of the decision. The hour-long hotel meeting on Friday night was held after detailed planning by the club’s management including architect Martin Ebert, laying the groundwork with a model exhibition and maps in the clubhouse to show all the changes. Members were taken on tours of the prestigious Dunluce Links in groups of 40 or 50 for experts to walk and talk them through the redevelopment. The Dunluce course will be improved to a par 71 of 7,337 yards. Among the changes will be new greens – the eighth will be a two-tier and the par-five ninth will become a par four. Some new bunkers will be dug while the current practice ground will be used for tentage. A 75-page brochure has been made available, primarily for members, to outline how the changes will alter the courses. Mr Tweedie added: “It’s a massive sense of excitement in terms of getting the opportunity to get the course strengthened and enhanced. The opportunity it’s bringing for so many people in terms of members and then in terms of the general public, for Portrush, for Northern Ireland and for Ireland.” Royal Portrush was added to the Open rota in June, with 2019 a potential date for its long-awaited return to major golf. The decision was sparked in part by the record-breaking attendance at the 2012 Irish Open at the venue. The spectacular course on the scenic Causeway coast is the only venue outside England and Scotland that has staged the Open. Several major championship victories by local superstars Rory McIlroy, Graeme McDowell and Darren Clarke since 2010 have added impetus to the campaign to bring the championship back, with all three lobbying on behalf of the course. The R&A envisages Royal Portrush hosting the tournament on a regular basis in the future. A special meeting of members voted overwhelmingly in favour of the first redevelopment of the world-renowned links in the 63 years since it hosted the major tournament. Only two of the 237 who attended the Magherabuoy Hotel in Portrush on Friday refused to back the plans in a show of hands, with i nsiders suggesting the opponents – two men from one family and in their 30s – were voting against it for a bet or a joke. Philip Tweedie, a past captain and current member of the club’s tournament committee, said there was a feeling of excitement about the progress. “We always wanted to have a unanimous decision as much as possible so there was unity in the club and we think that is what we have achieved,” he said. A planning application is expected to be made by mid-October but authorities are not likely to make a decision until possibly next April. In an attempt to expedite the process and avoid confrontation with environmentalists, the club has already undertaken ecology reports on the dune system. Work is being tentatively planned for autumn-winter next year. The first redevelopment will be on the Valley course alongside work on new greens on the Dunluce course, but any significant infrastructure changes are being planned not to coincide with bird-nesting season. Mr Tweedie added: “Everything has got to improve and strengthen. Ultimately what we are working on the Dunluce and Valley links are creating stronger courses that are fit for Open competitive golf.” The changes will involve taking two holes out of the Valley course and creating three new holes, plans which Mr Tweedie described as “stunning”. Royal Portrush has passed the first hurdle in plans to upgrade its courses and bring back the Open Championship by 2019. Press Associationlast_img read more

Cricket News World Champions England bundled out for 85 against Ireland in Lord’s Test

first_imgTim Murtagh was the pick of the bowler picking 5 for 13 runs. Joe Denly was the highest run getter in the first innings. England team was bundled out for 85 runs at Lord’s.  highlights New Delhi: After upstaging New Zealand in 2019 World Cup Final, England team was up against Ireland for lone Test encounter at the Lord’s in London. Many cricket pundits believed that a Test match against Ireland will be a good platform for Englishmen to prepare for all-important Ashes series against Australia which is scheduled to start on August 1. On a sunny day in London, Joe Root, English skipper asked the opposition to have a bowl. However, Tim Murtagh’s 5/13 and Mark Adair 3/32 saw the England team all over the place as they were eventually bundled out for 85 runs, with Joe Denly being the highest run-scorer. Jason Roy and Rory Burns started the proceedings for England but their partnership didn’t last long as the debutant Roy was sent back to the pavilion for mere 5 runs with a dazzling out swinger by Tim Murtagh. Jason Roy tried to play away from his body and he eventually paid the price. Joe Denly and Rory Burns tried to stich a partnership in the middle but couldn’t continue for long. The wickets kept tumbling for the three lions as the middle-order saw three ducks in form of Moeen Ali, Jonny Bairstow, and Chris Woakes. Ireland team took some time to wrap things up but in process didn’t give away any easy runs. Having been able to restrict England team for a below par score at Lord’s, this remains to be seen if Irelishmen can show the same class with bat in hand and score all-important runs on the board. With the likes of William Porterfield, Paul Stirling, and Kevin O Brien in the line up, Ireland will be fancying their chances to score atleast 250-300 runs. Joe Root, on the other hand, will be expecting some heroics from his bowlers to eventually comeback into this game. From a distance, it looks a tough task for England bowlers. Interestingly, this is England’s third lowest total at Lord’s. Two of which have come against Australia in 1888. Here are the Statistics: 62 – vs Australia in 1888 (July)53 – vs Australia in 1888 (July)85 – vs Ireland in 2019 (July)center_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more

London earns new Middlesex contract

first_imgMiddlesex have handed Adam London a contract until the end of next season and signed bowler Gurjit Sandhu on a two-year professional deal.London’s one-year extension is his reward for a successful return from the serious knee injury which kept him out for much of last term.Sandhu, who made his first-class debut for Middlesex this year against Sri Lanka, played virtually a full season for the second XI and took 44 wickets in all matches.AdChoices广告The left-arm seamer is a product of the Middlesex academy and plays club cricket for Eastcote.Middlesex’s managing director of cricket Angus Fraser said: “This time last year Adam was recovering from a serious knee operation and it took him a fair part of last summer for his rehabilitation to be completed.“Adam finished the 2011 season strongly in the second XI and all the cricket management believe he has the potential to force his way into the first team over the coming years.”Fraser added: “I was delighted to offer Gurjit a professional contract as it is something he has worked extremely hard for and deserves.“After leaving Middlesex’s academy Gurjit spent last winter training with our professional staff. He benefitted hugely from the experience as his performances in the second XI highlighted.“He is a cracking young lad with an excellent work ethic who is getting stronger all the time. Left-arm swing/seam bowlers are relatively rare and his bowling will offer us variety in years to come.”last_img read more